Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSACC502 Mapping and Delivery Guide
Prepare tax documentation for individuals

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSACC502 - Prepare tax documentation for individuals
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to prepare non-complex income tax returns for individuals in accordance with statutory requirements, and encompasses gathering and verifying data, calculating taxable income and reviewing compliance requirements.It applies to individuals who use systematic approaches and follow specific guidelines to ensure compliance requirements are met.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet educational requirements of the Tax Practitioner Board (TPB). Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Gather client data and verify client, organisational and legislative requirements
  • 1.1 Determine client's tax documentation preparation requirements
  • Conduct research to identify updates or additions to compliance requirements relevant to client circumstances, and establish recording and reporting requirements
  • Gather current data from appropriate sources, and identify assessable income and allowable deductions
  • Complete and record amounts in accordance with organisational and legislative requirements
  • Identify discrepancies or any unusual features and conduct research to resolve, or refer to appropriate authority
  • Identify accrued or prepaid income and expenditure, and record adjustments to value of assets and liabilities
       
Element: 2. Identify, record and present client's tax documentation
  • 2.1 Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices
  • Prepare relevant documentation within established timelines
  • Seek advice and guidance from specialist to evaluate and moderate decision processes
  • Discuss and confirm documentation with client to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met
       
Element: Lodge tax documentation
  • Submit relevant documentation to Australian Taxation Office (ATO) within established timelines
  • Advise client of current tax obligations and that advice from taxation authorities is to be followed
  • Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner
       
Element: Identify, record and present client's tax documentation
  • Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices
  • Prepare relevant documentation within established timelines
  • Seek advice and guidance from specialist to evaluate and moderate decision processes
  • Discuss and confirm documentation with client to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Gather client data and verify client, organisational and legislative requirements

1.1 Determine client's tax documentation preparation requirements

1.2 Conduct research to identify updates or additions to compliance requirements relevant to client circumstances, and establish recording and reporting requirements

1.3 Gather current data from appropriate sources, and identify assessable income and allowable deductions

1.4 Complete and record amounts in accordance with organisational and legislative requirements

1.5 Identify discrepancies or any unusual features and conduct research to resolve, or refer to appropriate authority

1.6 Identify accrued or prepaid income and expenditure, and record adjustments to value of assets and liabilities

2. Identify, record and present client's tax documentation

2.1 Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices

2.2 Prepare relevant documentation within established timelines

2.3 Seek advice and guidance from specialist to evaluate and moderate decision processes

2.4 Discuss and confirm documentation with client to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met

3. Lodge tax documentation

3.1 Submit relevant documentation to Australian Taxation Office (ATO) within established timelines

3.2 Advise client of current tax obligations and that advice from taxation authorities is to be followed

3.3 Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Gather client data and verify client, organisational and legislative requirements

1.1 Determine client's tax documentation preparation requirements

1.2 Conduct research to identify updates or additions to compliance requirements relevant to client circumstances, and establish recording and reporting requirements

1.3 Gather current data from appropriate sources, and identify assessable income and allowable deductions

1.4 Complete and record amounts in accordance with organisational and legislative requirements

1.5 Identify discrepancies or any unusual features and conduct research to resolve, or refer to appropriate authority

1.6 Identify accrued or prepaid income and expenditure, and record adjustments to value of assets and liabilities

2. Identify, record and present client's tax documentation

2.1 Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices

2.2 Prepare relevant documentation within established timelines

2.3 Seek advice and guidance from specialist to evaluate and moderate decision processes

2.4 Discuss and confirm documentation with client to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met

3. Lodge tax documentation

3.1 Submit relevant documentation to Australian Taxation Office (ATO) within established timelines

3.2 Advise client of current tax obligations and that advice from taxation authorities is to be followed

3.3 Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
1.1 Determine client's tax documentation preparation requirements 
Conduct research to identify updates or additions to compliance requirements relevant to client circumstances, and establish recording and reporting requirements 
Gather current data from appropriate sources, and identify assessable income and allowable deductions 
Complete and record amounts in accordance with organisational and legislative requirements 
Identify discrepancies or any unusual features and conduct research to resolve, or refer to appropriate authority 
Identify accrued or prepaid income and expenditure, and record adjustments to value of assets and liabilities 
2.1 Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices 
Prepare relevant documentation within established timelines 
Seek advice and guidance from specialist to evaluate and moderate decision processes 
Discuss and confirm documentation with client to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met 
Submit relevant documentation to Australian Taxation Office (ATO) within established timelines 
Advise client of current tax obligations and that advice from taxation authorities is to be followed 
Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner 
Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices 
Prepare relevant documentation within established timelines 
Seek advice and guidance from specialist to evaluate and moderate decision processes 
Discuss and confirm documentation with client to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met 

Forms

Assessment Cover Sheet

FNSACC502 - Prepare tax documentation for individuals
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSACC502 - Prepare tax documentation for individuals

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: