REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

NOTE As stipulated by the Tax Agents Registration Board the taxation knowledge components only of this accounting unit of competency must be tested through written examination All other components can be assessed as advised in the Assessment Guidelines section of this Training Package

income tax legislation

State and Federal Government taxes and charges

options methods and practices for deductions benefits and depreciation

ethical considerations for the handling of returns eg conflict of interests confidentiality disclosure requirements

Skills requirements include

interpersonal skills and communication skills eg liaising listening consulting

working with individuals and appropriate authorities to resolve discrepancies unusual features and queries

report writing and document preparation

recording gathering and consolidating financial information

researching and identifying legislation and rulings applicable to income taxation

information technology use for the set up and analysis of spreadsheets

planning skills for timetabling and scheduling reports and lodgements

EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context The Evidence Guide identifies the critical aspects knowledge and skills to be demonstrated to confirm competency for the unit Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace

Overview of assessment requirements

To achieve competency in this unit a person must be able to demonstrate

knowledge of statutory requirements

knowledge of state and territory taxes and charges

knowledge of organisational policies and procedures

knowledge of accounting principles and practices

ability to gather and verify data

ability to calculate taxable income

ability to review compliance

knowledge of relevant taxation legislation

Critical aspects of evidence

Evidence required for demonstration of consistent performance

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment

Deliveryassessment relationship to other units

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit or a cluster of units of competency

Assessment requirements

Method of assessment

For valid and reliable assessment of this unit evidence should be gathered through a range of methods to indicate consistent performance

Assessment of this unit of competence will usually include observation of processes and procedures oral andor written questioning on underpinning knowledge and skills and other methods as required

As stipulated by the Tax Agents Registration Board the taxation knowledge components only of this accounting unit of competency must be tested through written examination

Context of assessment

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personalfinancial responsibility and accountability

Aspects of competency including the attainment of relevant knowledge and skills may be assessed in a relevant workplace a closely simulated work environment or other appropriate means that clearly meet industry competency requirements

Resources required for assessment

Assessment of this unit of competence requires access to suitable resources to demonstrate competence

Assessment instruments including personal planner and assessment record book

Access to registered provider of assessment services

Business policies and procedures may include:

Discrepancies may include:

Asset and liabilities may include:

Taxmay include:

Revenue gathering practices may include:

Source documentation may include:

Revenue documentation may include:

Returns and statements may include:

Obligations may include:

Statutory requirements may include: