Application
This unit describes the skills and knowledge required to assess the applicability of the relevant taxes and duties for international trade transactions, and to prepare business advice based on the assessments and calculations undertaken.
It applies to individuals with a broad knowledge of taxes and duties who contribute well-developed skills and knowledge to prepare business advice for a client. This unit addresses the application of relevant legislation, determinations, decisions and guidelines pertaining to the Australian Taxation System and Australian Customs regulations to assess the applicability of the GST, Australian Harmonised Export Commodity Codes for tax and duty related to export transactions, and to accurately calculate relevant taxes and duty and to prepare appropriate business advice for a client.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1 Assess applicability of relevant taxes and duties to international trade transactions | 1.1 Research the applicability of relevant taxes and duty to international trade transactions 1.2 Research allowable exemptions and specialised schemes and legislations relating to international taxes or applicability to enterprise operations and specific international trade transactions 1.3 Apply allowable exemptions to trade transactions 1.4 Check accuracy of assessments |
2 Calculate taxes and duty | 2.1 Identify components of international trade transactions to be included in calculations 2.2 Calculate taxes and duty on international trade transactions 2.3 Check accuracy of calculations |
3 Prepare business advice on applicable taxes and duty | 3.1 Prepare results of calculations and business advice in required format 3.2 Check calculations for accuracy, and seek and obtain verification from relevant personnel as required 3.3 Pass completed business advice to client and other relevant personnel as required |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1-1.4, 2.1, 3.1, 3.2 | Identifies and analyses relevant information in complex texts so advice can be provided on taxes and duties |
Writing | 1.1-1.3, 2.2, 3.1, 3.2 | Completes documentation according to specific requirements |
Oral Communication | 3.2, 3.3 | Uses appropriate language and features in spoken exchanges with clients Elicits views and opinions of others by listening and questioning |
Numeracy | 1.3, 1.4, 2.2, 2.3, 3.1-3.3 | Uses mathematical skills to calculate trade transactions and taxes, and to check figures for accuracy |
Navigate the world of work | 1.2 | Recognises relevant international trade requirements in the context of own work |
Interact with others | 3.2, 3.3 | Selects and uses appropriate conventions and protocols when communicating in a range of familiar work contexts Seeks assistance from more experienced work colleagues |
Get the work done | 1.1-1.4, 2.1-2.3, 3.1-3.3 | Uses logically sequenced steps to plan and implement own work |
Sectors
Business Development – International Business