Course Title: Implement tax plans and evaluate tax compliance

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: ACCT5207C

Course Title: Implement tax plans and evaluate tax compliance

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 implement tax plans and evaluate tax compliance.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT603A Implement tax plans and evaluate tax compliance


Assess tax liabilities

Performance Criteria:

1. Organisational and operational tax liabilities are identified by analysis of external and internal taxable transactions
2. History and trends in obligations arising from organisational transactions are quantified using standard accounting techniques
3. Data from transactions are analysed to resolve ambiguities and determine the nature of taxation options, etc.
4. Effects of taxes are analysed and scheduled by assessing methods of determination, tax bases and timing of incidence


Establish processes and plans

Performance Criteria:

1. Management plans and record keeping systems are developed to implement financial management strategies and ensure the maintenance of an audit trail
2. Management processes are documented to ensure they promote standard application of compliance requirements
3. Taxation liabilities are derived from income and expenditure estimates using standard accounting techniques, etc.
4. Budgets are prepared in accordance with estimates and reviewed to ensure ongoing relevance of liability estimates


Evaluate tax policies

Performance Criteria:

1. Variances between liabilities and taxation plans are analysed to identify errors in tax strategies
2. Performance of tax liabilities in similar or related organisations and operations are monitored and evaluated to measure tax effectiveness and prepare benchmarks and standards
3. Data is reviewed for accuracy, completeness and reliability of assumptions in liability projections


Optimise tax positions

Performance Criteria:

1. Implications of obligation on operations and structures are assessed to develop a range of treatments and responses
2. Financial management strategies are developed to ensure the alignment of cash flow with incidence and schedules of tax payments
3. Trends in tax liabilities are analysed and monitored to develop a history of obligations and compliance


Review tax compliance

Performance Criteria:

1. The achievement of performance indicators is assessed and reviewed against key result areas
2. Taxation preparation processes are monitored and reviewed in line with professional taxation and accounting standards requirements
3. Failures in compliance are analysed to diagnose shortcomings and to remedy processes in line with taxation authorities’

Learning Outcomes

On completion of this course a student should be able to deomonstrate an understanding of applying taxation knowledge to practice while conforming with regulatory and business requirements.

Details of Learning Activities

Candidates will be exposed to various requirements for compliance with tax legislation and rulings and practices, and be expected to problem solve various taxation situations from textbooks and supplementary tasks, using research on-line and textbook based. The candidate should be able to locate the answers to a series of problems; so at the conclusion they have a broad ability to locate a resource which they can interpret to solve tax ambiguities and compliance issues.

Teaching Schedule

Topic as per Student Learning GuideAssessmentElements
111 FebIntroduction to tax planning; Tasks1&2 [web sites] 1,2,3,4,5
218Tasks 3,4 &5[Ruling system] 1,2,3,4,5
325Tasks 6[Returns, assessments & amendments] 1,2,3,4,5
43 MarTask 7[Audits & self-assessment system] 1,2,3,4,5
510Task 8[Amendments continued] 1,2,3,4,5
617Tasks 9,10,11,12& Review Qs[Payment of tax, Objections & Appeals] 1,2,3,4,5
731Tasks 13 & Review Qs &Research Qs 20,21 [Penalties & Offences] 1,2,3,4,5
87 AprTest 1Test 1 (40%)
Assignment out
914Introduction to Fringe benefits tax 1,2,3,4,5
1021Motor vehicle Fringe benefits calculations 1,2,3,4,5
1128Motor vehicle Fringe benefits & loan calcsAssignment due1,2,3,4,5
125 MayFringe benefits tax-otherwise deductible rule, exemptions 1,2,3,4,5
1312FBT returns 1,2,3,4,5
1419FBT & salary packaging 1,2,3,4,5
1526FBT & salary packaging 1,2,3,4,5
162 JunTest 2Test 2 (40%)1,2,3,4,5
179Resits and resubmissions 1,2,3,4,5
1816Feedback- course/tests/competencies 1,2,3,4,5

Learning Resources

Prescribed Texts

Question Book Australian Income Tax by Alan Kirby, 2008 ed.


Answer Book Australian Income Tax by Alan Kirby, 2008 ed.

Other Resources

Notes and exercises made available by teacher , on the DLS.

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 infom 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 40%
test 2 40%
Assignment 20%
The tests will be conducted in an examination format.
They will be strictly closed book tests.
The student will have to satisfactorily complete all assessment tasks, and to pass will have a total mark of 50% or more.

Assessment Matrix

ElementTest 1Test 2Assignment
Assess atx liabilitiesXXX
Optimize tax positionsXXX
Establish processes & plansXXX
Evaluate tax policiesXXX
Review tax complianceXXX

Course Overview: Access Course Overview