Required skills

highly developed communication skills to

liaise with others share information using questioning and active listening as required

use language and concepts appropriate to cultural differences

welldeveloped numeracy and IT skills to

use a range of mathematical ideas and techniques related to taxation

perform calculations related to taxation implications

access and use appropriate software such as word processors spreadsheets and databases

use internet information

welldeveloped literacy skills to read and interpret documentation from a variety of sources and record and consolidate related information

interpersonal skills to relate effectively within a team environment

organisational skills including the ability to plan and sequence work

research and analysis for

accessing interpreting and managing complex information

comprehending selfmanaged superannuation fund SIS legislation

identifying relevant legislation and regulations relevant to each client

assessing the accuracy and relevance of information

selfmanagement skills for complying with ethical legal and procedural requirements

learning skills to maintain knowledge of changes to compliance legislation and requirements

problem solving skills to address compliance and taxation issues

judgement skills for forming recommendations in operational situations

Required knowledge

ATO requirements regarding selfmanaged superannuation funds

capital gains treatment for investment earnings accumulation and pensions

fund residency and complying status for tax purposes

general taxation of investment earnings accumulation and pension

PAYG and GST considerations relating to selfmanaged superannuation funds

Superannuation Industry Supervision SIS Act and key legislative requirements regarding selfmanaged superannuation funds

superannuation surcharge considerations and reporting issues

tax deductions available to and taxation of income streams from selfmanaged superannuation funds

taxation treatment of

selfmanaged superannuation funds contributions

complying and noncomplying pensions taxation and social security issues

death benefits lump sum and pension issues

franking credits accumulation and pensions

reserves and residual fund assets

rollovers including in specie issues

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

interpret and apply SIS legislation ATO guidelines and legislation regarding selfmanaged superannuation funds

explain fund taxation requirements and implications for contributions and benefits

identify and explain implications for fund income and assets

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to organisation financial records

access to organisation policies and procedures

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace business simulations or scenarios

Guidance information for assessment

Sources of taxation information may include:

Taxation and other requirements may include, as amended:

Investment restrictions may include:

Risk may include:

Adviser may include:

Restriction and identification of allowable credits are provided in tax advice legislation and may include:

Deductions may include: