Elements and Performance Criteria
- Develop a personal budget
- Collect information to develop a personal budget.
- Identify and select appropriate money saving strategies.
- Investigate and assess services and personal credit options and conditions provided by financial institutions.
- Develop the personal budget according to current income and personal expenditure.
- Monitor expenditure against income.
- Adjust the budget in response to changing financial circumstances.
- Complete a bank reconciliation
- Complete a tax return
- Collect information to complete a tax return.
- Identify and calculate allowable tax deductions.
- Access appropriate income tax forms.
- Complete a tax return according to relevant legislation.
- Check discrepancies and confirm information is accurate and current.
- File the tax return according to relevant legislation.