Course Title: Prepare complex tax returns and lodgements

Part B: Course Detail

Teaching Period: Term2 2008

Course Code: ACCT5206C

Course Title: Prepare complex tax returns and lodgements

School: 650T TAFE Business

Campus: City Campus

Program: C6072 - Advanced Diploma of Accounting

Course Contact : Bruce Phillips

Course Contact Phone: +61 3 9925 5735

Course Contact

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

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

FNSACCT502A Prepare income tax returns [ACCT 5199C]

Course Description

This unit covers the competency to analyse taxation related data and prepare complex tax returns and lodgements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT601A Prepare complex tax returns and lodgements


Gather and analyse taxation related data

Performance Criteria:

1. Accounting reports relevant to taxation requirements are identified and collected
2. Accounting information is analysed to determine relevant taxation elements


Identify taxation requirements for complex lodgements and returns

Performance Criteria:

1. Organisational structure of the taxation entity is identified
2. Taxation parameters of the organisation are determined
3. Lodgement schedule requirements are established


Process data and prepare tax returns and lodgements

Performance Criteria:

1. Data is processed to comply with the relevant taxation format
2. Returns and lodgements are prepared in accordance with Australian Taxation Office (ATO) requirements


Review taxation lodgement compliance

Performance Criteria:

1. Lodgements and returns are submitted for authorisation by an approved person within the stated deadlines
2. Taxation preparation procedures are reviewed to determine their efficiency and effectiveness
3. Recommendations arising from the review are made to enable more efficient organisational structures and procedures for taxation purposes, etc
4. Tax office enquiries and taxation audit requirements are met

Learning Outcomes

On completion of this course a student should be able to demonstrate a deepter understanding of income tax return concepts affecting individuals and non-individuals including partnerships, companies, trusts and superannuation funds.

Details of Learning Activities

Students will learn complex tax returns and lodgements skills through class work on prescribed exercises including preparation of the returns themselves, research and assessment work.

Teaching Schedule

1July 7Introduction to Tax Agents
Partnerships introduction
214Partnerships distribution statements, s90 net income, reconciliations, tax liabilities1,2,3,4
321Partnerships uncontrolled income and structural changes1,2,3,4
428Trusts – Introduction, terminology, assessment rules1,2,3,4
5Aug 4Trusts - assessment rules & exercises1,2,3,4
611Income of Minors, Tax effective distributions to inter-vivos trusts1,2,3,4
718Introduction to companies1,2,3,4
825Test 11,2,3,4
 Sept 1  
98Companies and reconciliations1,2,3,4
1015Companies and reconciliations, & Losses, R & D expenditure1,2,3,4
1122Companies and franking accounts1,2,3,4
1229Primary producers- livestock accounts1,2,3,4
13Oct 6Primary producers- special concessions, deductions1,2,3,4
1413Primary producers- averaging tax offset1,2,3,4
1520Introduction to Superannuation funds1,2,3,4
1627Test 21,2,3,4
17Nov 3Resits and resubmissions1,2,3,4
1810Feedback- course/tests/competencies1,2,3,41,2,3,4

Learning Resources

Prescribed Texts

Question Book Australian Income Tax; Alan Kirby 2008 ed


Notes and Exercises will be made available on DLS.
Answer Book Australian Income Tax; Alan Kirby 2008 ed

Other Resources

Overview of Assessment

A student must demonstrate a clear understanding of all elements of the required competencies to be deemed competent. Assessment may include a variety of methods such as tests, workbooks, assignments, presentations and class exercises.

Formative feedback is provided throughout the course. This occurs by the teacher providing information to the student to inform them how they are succeeding in the course and areas that require more work to succeed. Formative feedback is not a piece of assessment that contributes to the student’s final result.

Assessment Tasks

test 1 at 40%
test 2 at 40%
Assignment 20%
The tests will be conducted in a closed book test environment.
The student will have to satisfactorily complete all assessment tasks, and to pass will have a total mark of 50% or more.
The assignment will offer a variety of situations, with each candidate having different data in a simulation of a work environment for a tax accountant in a public practice.

Assessment Matrix

                                                                                                                        Test 1       Test 2       Assignment
Identify taxation requirements for complex lodgements and returns      /                    /                     /          
Gather and analyse taxation related data                                                      /                    /                      /
Process data & prepare tax returns & lodgements                                    /                     /                      /
Review taxation lodgement compliance                                                       /                    /

Other Information

Employability skills:

Embedded within the unit of competency is the following skills:
Communication, teamwork, problem-solving, initiative/enterprise, planning/organising, self-management, learning, and technology

Course Overview: Access Course Overview