Course Title: Prepare business advice on the taxes and duties for international trade transactions
Part B: Course Detail
Teaching Period: Term1 2015
Course Code: MKTG5797C
Course Title: Prepare business advice on the taxes and duties for international trade transactions
School: 650T Vocational Business Education
Campus: City Campus
Program: C4222 - Certificate IV in International Trade
Course Contact : Tim Wallis
Course Contact Phone: +61 3 9925 5423
Course Contact Email:timothy.wallis@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Justin Briggs
justin.briggs@rmit.edu.au
9925-5433
Nominal Hours: 40
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
NONE
Course Description
This course applies to individuals with a broad knowledge of taxes and duties who contribute well developed skills and knowledge to preparing business advice for a client. This course 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 .
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBINT408B Prepare business advice on the taxes and duties for international trade transactions |
Element: |
1. Assess applicability of GST, other relevant taxes and duty to international trade transactions |
Performance Criteria: |
1.1. Research applicability of relevant taxes and duty to international trade transactions 1.2. Research allowable exemptions and specialised schemes 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 |
Element: |
2. Calculate taxes and duty |
Performance Criteria: |
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 |
Element: |
3. Prepare business advice on applicable taxes and duty |
Performance Criteria: |
3.1. Prepare results of calculations and business advice in the required format 3.2. Check calculations for accuracy, and seek and obtain verification from relevant personnel as required 3.3. Pass completed business advice on to client and other relevant personnel as required |
Learning Outcomes
Learners will develop the skills and knowledge required to assess the applicability of GST, other relevant taxes and duty to international trade transactions, and to prepare business advice based on the assessments and calculations undertaken.
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The self-paced activities will be delivered thought various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
MKTG5798C - Apply Knowledge of import and export international conventions, laws and finance, MKTG5799C Prepare Business advice on export Free on Board Value; and MKTG5797C Prepare business advice on taxes and duties for Intl Trade Transactions are co-delivered and co-assessed.
| Week | Date | Topic | Assessment |
| 1 | 11 Feb | Induction and pre-training review | |
| 2 | 18 Feb | Introduction to International conventions, laws and finance / 1 | Assessment Task 1 Test Hand Out & Discussion |
| 3 | 25 Feb | Introduction to International conventions, laws and finance / 2 | Assessment Task 2 Hand Out & Discussion |
| 4 | 4 Mar | Introduction to International conventions, laws and finance / 3 | |
| 5 | 11 Mar | Introduction to International conventions, laws and finance / 4 | |
| 6 | 18 Mar | Introduction to Incoterms | |
| 7 | 25 Mar | Introduction to Incoterms / 1 | |
| 8a | 1 Apr | Introduction to Incoterms / 2 | |
| 2-8 Apr | Semester Break | ||
| 8b | 9 Apr | Self-directed Study Assessment Task 2 | |
| 9 | 15 Apr | Using incoterms in international trade transactions / 1 | |
| 10 | 22 Apr | Using incoterms in international trade transactions / 2 | Assessment Task 1 Test |
| 11 | 29 Apr | Calculating Duties and Taxes in International Trade Transactions / 1 | |
| 12 | 6 May | Calculating Duties and Taxes in International Trade Transactions / 2 | Assessment Task 2 Due |
| 13 | 13 May | Preparing Business Advice on FOB Value, Duties and Taxes / 1 | Assessment Task 3 Hand Out & Discussion |
| 14 | 20 May | Preparing Business Advice on FOB Value, Duties and Taxes / 2 | |
| 15 | 27 May | Revision & Review of weeks 2 to 14 | Assessment Task 3 Due |
| 16 | 3 June | Resubmission and Feed Back |
Week 1 will consist of an induction to the course which will include completion of a pre training review and familiarization with:
• Your teacher(s) and other students.
• Services and facilities
• Student responsibilities
• Where to get support
• Course requirements, key learning outcomes, assessment, feedback and grading.
• Submission requirements and the resubmission policy
• Plagiarism
• Appeals
• Extensions and Special Consideration
• Privacy
Learning Resources
Prescribed Texts
References
International Logistics and Freight forwarding Manual Forth Edition by Russell Bourke. |
Other Resources
http://www.australia.gov.au/help-and-contact/faqs/imports-and-exports
Overview of Assessment
The student must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods including technical requirements documentation, homework and in class exercises, written tests, practical problem solving exercises, presentations and practical tests. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress
Assessment Tasks
MKTG5798C - Apply Knowledge of import and export international conventions, laws and finance, MKTG5799C Prepare Business advice on export Free on Board Value; and MKTG5797C Prepare business advice on taxes and duties for Intl Trade Transactions are co-delivered and co-assessed.
Assessment Task 1 – In class test
Date handed out: Week 10
Date and time due: Week 10
Group or Individual: This assignment is to be completed individually
Purpose:
This assessment allows you to demonstrate your knowledge of international trade compliance.
Requirements: The test will be 1 hour, and you will have 15 Minutes reading time.
Assessment Task 2 – Portfolio of Documents
Date handed out: Week 2
Date and time due: Week 12
Group or Individual: This is an Individual assessment
Purpose: This assessment allows you to demonstrate your knowledge of international trade compliance through a practical problem solving activity based on a real world scenario,
Requirements:
You are required to review the problem below and answer all questions, referencing any relevant sources. Your assignment answer should not exceed 2000 words in total. In order to answer the problem below, you will be required to conduct research and undertake analysis of your findings.
Scope:
You have been asked to prepare an Inter-Company Purchase Order for (Qty 2000 x 2300W) GrowWatt Solar Inverters which are to be imported via Sea Freight from China.
The order is required for a one off installation at RMIT Universities Victorian Campuses. Shipments cannot be staggered as they are required for installation over the mid-year break.
Value, of the order is AUD4 million and FOB terms apply.
Freight: by sea container: you must choose the appropriate container via the Shipping Container Dimensions Internal or External Sizes and Weights located in the Useful Recourses folder on Blackboard.
These shipments represent a significant one off Installation contract for your business and hence the immediate profitability which you are keen to secure.
You are to determine the following:
1) What export documentation is required for Exportation from China and the Importation into Australia?
2) Comment on any particular regulations affecting the export of Solar Inverters from China into Australia and, regulations affecting the importation. (Duty regulations, Trade embargos, Quotas etc.)
3) Price quotation and calculation. (You must include total importation cost from The China Factory to the Australian Warehouse)
4) Choice of incoterm terms & an explanation of why this is the best method?
5) Method of payment,
6) Assessment of risk and minimisation of delays,
7) Your conclusion & evaluation of the total transaction from order placement to delivery to your nominated Warehouse.
The documents that you include should represent a whole transaction and may include but are not limited to:
- Commercial invoice
- Customs declaration
- Bill of lading or airway bill.
- Certificate of origin
- Packing list
(You must include copies of all relevant supporting documentation for the complete transaction; samples copies of these documents will be available on the subject Blackboard under Class Material)
Assessment Task 3 – Portfolio of Documents.
Date handed out: Week 13
Date and time due: Week 15
Group or Individual: This is an Individual assessment.
Purpose: The goods you are import into Australia require classification under the Customs Tariff Act 1995. Importers need to self-assess the correct tariff classification of goods they import. Penalties may apply for incorrect or misleading information. Customs and Border Protection has a range of information and resources that will assist you to classify goods.
Requirements: You are required to give a brief outline of the duties that may be payable on the Solar Inverters that you have arranged for importation in Assessment Task 2.
You should also include the supporting documentation of not more than 500 words which explains the category of the duty and if it is applicable to your importation?
Assessment Matrix
Submission Requirements
You should:
• Ensure that you submit assessments on or before the due date.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use:http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
Resubmissions (VET Programs):
If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
http://rmit.edu.au/browse;ID=7usdbki1fjf31
Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:
Final Grades table:
CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment
Other Information
Further information regarding the application of the grading criteria will be provided by your teacher.
Course Overview: Access Course Overview