Course Title: Prepare complex tax returns and lodgements
Part B: Course Detail
Teaching Period: Term2 2009
Course Code: ACCT5266C
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 99255735
Course Contact Email:bruce.phillips@rmit.edu.au
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
Nil
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: |
FNSACCT601B Prepare complex tax returns and lodgements |
Element: |
Gather and Analyse Taxation Related Data |
Performance Criteria: |
Accounting reports relevant to taxation requirements are identified and collected. |
Element: |
Identify taxation requirements for complex lodgements and returns |
Performance Criteria: |
Organisational structure of the taxation entity is identified. |
Element: |
Process data and prepare tax returns and lodgements |
Performance Criteria: |
Data is processed to comply with the relevant taxation format. |
Element: |
Review Taxation lodgement Compliance. |
Performance Criteria: |
Lodgement and returns are submitted for authorisation by an approved person within the stated deadlines. |
Learning Outcomes
Details of Learning Activities
The activities centre around doing problems, problem solving, doing assignments, working in teams, developing a broad understanding of how to prepare tax returns for partnerships, trusts, companies , and superannuation funds. There are important time management skills involved in lodging assignments by due dates, thus learning the skills required in tax return lodgement.
Teaching Schedule
Week | Week |
Topic |
Assessment Item |
|
1 | July 6 | Intro to Tax Agents. Partnership introduction, difference between common law & tax Law | ||
2 | 13 | Partnership distribution statements, reconciliations | ||
3 | 20 | Partnerships uncontrolled income, & structural changes | ||
4 | 27 | Trusts-introduction, terminology, assessment rules | ||
5 | 3 Aug | Trusts-assessment rules,& exercises | ||
6 | 10 | Income of minors, tax-effective distributions to inter-vivos trusts | ||
7 | 17 | Introduction, revisionfor test | ||
8 | 24 | Test 1 | Test 1 40% | |
9 | 7 Sept | Companies & reconciliations | ||
10 | 14 | Companies reconciliations & company losses | ||
11 | 21 | Companies & Franking accounts | Primary producers |
|
12 | 28 | Primary producers- livestock accounts | ||
13 | 5 Oct | Primary producers- special concessions | ||
14 | 12 | Primary producers- averaging tax offset | ||
15 | 19 | Introduction to superannuation funds | Assignment due 20% |
|
16 | 26 | Test 2 | Test 2 40% | |
17 | 2 Nov | Resits and resubmissions | ||
18 | 9 | Feedback courses, tests, competencies | ||
Learning Resources
Prescribed Texts
Australian Income Tax 2009 Alan Kirby & Garry Kirby |
References
Australian Income Tax 2009 Answer Book By Alan kirby & Garry Kirby |
Other Resources
Notes as supplied by instructor
Overview of Assessment
Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.
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
Test 1 40%
Test 2 40%
Assignment 20%
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100%
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Assessment Matrix
Course Overview: Access Course Overview