Course Title: Prepare and administer compliant tax returns for legal entities

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: ACCT5349C

Course Title: Prepare and administer compliant tax returns for legal entities

School: 650T TAFE Business

Campus: City Campus

Program: C6113 - Advanced Diploma of Accounting

Course Contact : Bruce Phillips

Course Contact Phone: +61 3 99255735

Course Contact

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 80

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

Prepare Legally Compliant Tax Returns for Individuals FNSACC502B

Course Description

This unit explores the more difficult tax returns including Partnerships, Trusts, primary producers, Companies and Superannuation funds.  The student will broaden their understanding of the principles developing in the unit Prepare Legally Compliant Tax Returns for Individuals

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC601B Prepare and administer compliant tax returns for legal entities


1. Identify taxation requirements for complex lodgements and returns

Performance Criteria:

1.1 Client taxation preparation requirements are determined
1.2 Organisational structure of the taxation entity is identified
1.3 Taxation parameters of the organisation are determined in accordance with legislation, regulation and Australian Taxation Office (ATO) rulings
1.4 Lodgement schedule requirements are established


2. Gather and analyse taxation related data

Performance Criteria:

2.1 Accounting reports relevant to taxation requirements are identified and collected
2.2 Accounting information is analysed to determine relevant taxation elements
2.3 Advice and guidance is sought to evaluate and moderate decision processes
2.4 Determinations are confirmed with client



3. Process data and prepare tax returns and lodgements

Performance Criteria:

3.1 Data is processed to comply with the relevant taxation format
3.2 Returns and lodgements are prepared in accordance with ATO requirements
3.3 Returns are discussed and agreed with clients and statutory requirements are confirmed


4. Review taxation lodgement compliance

Performance Criteria:

4.1 Lodgements and returns are submitted for authorisation by an approved person within the stated deadlines
4.2 Taxation preparation procedures are reviewed to determine their efficiency and effectiveness
4.3 Recommendations arising from the taxation lodgement review are made to enable more efficient organisational structures and procedures for taxation purposes
4.4 Tax office enquiries are responded to and taxation audit requirements are met

Learning Outcomes

At the conclusion of this unit a student should be able to identify the different legal entities and specify the main provisions of the income tax that apply and how they apply to those entities.

Details of Learning Activities

A range of learning activities are planned for this unit, including self paced and collaborative classroom based activities. The unit covers the topics of Tax Practitioners, Partnerships, and Trusts and this is followed by the first test, which will be assessed on a competent or a not yet competent basis. Then the topic Primary Producers is covered then assessed via a assignment. The topics of companies is covered after this with lots of hands on exercises, followed by the second test, also on a competent or a not yet competent basis. Superfunds is covered next, then finally Fringe Benefits Tax (FBT) followed by the third and final test

The other classroom activities will stimulate discussion, with frequent questioning used to tease out the understanding of each student.

We will instruct the students in the processes, policies and procedures adopted by the Australian Taxation office ( ATO ), in their administration of the Tax Act, with frequent reference to the rulings and laws contained in the ATO website.  

Teaching Schedule

WeekBegins MondayFULL TIME TIMETABLE        Topic  (this is a guide only)                                                                                 Assessment                Part-time
and Assessment
Activities and exercises (from prescribed text)
1July 8

 Revision of tax principles, Tax Practitioners, Partnerships: distribution statements, tax payable

 2      15 Partnerships:advanced exs, structural changes   
 3      22 Trusts terminology, taxation S.95A(2), s.101 Trusts 23.1,2,3,4,5
 4      29 Trusts: advanced exs, S.100, losses   
 5Aug 5  Unearned income of minors, tax effective distributions Trusts 23.7,8,10,12,13,15,16,17,18,21,22
6      12  Test 1; Squatter game (assignment) Test 1 ( C or NYC )Assignment Out  
 7      19 Primary producers, livestock accounts, special deductions Test 1 and squatter game Assignment is given out today
 8      26

 Special writeoffs and decline in value,
averaging offset

  Sept 2  NON TEACHING WEEK (start 28/4-3/4)   
 9        9   Companies: introduction, reconciliations Assignment Due( C or NYC )Companies 21.1,2,3,4,5,6*,12
 10      16 Companies: losses, franking accounts   
 11      23 Companies: advanced exercises; Test 2 Test 2 ( C or NYC)Franking a/cs; assign due 21.15,16,17,18,19,20,21,22,23,24,25*
 12      30

 Superfunds, FBT introduction, cars

 13Oct 7 FBT loans, otherwise deductible rule, FBT returns


Test 2 ; FBT 29.1 to 8
 14      14   FBT - Salary Packaging; Revision for Test 3   
 15      21 Test 3 Test 3 ( C or NYC)Superfunds 25.1 to 8
 16      28 Resits, resubmissions, and feedback Test 3 
1 Partnerships, Trusts introduction   
4 Test 1   Companies introduction   
8 Companies   
12 Test 2 Superfunds, intro to FBT (fringe benefits)   
15 Test 3 (any resits are the following week)   

Learning Resources

Prescribed Texts

: Australian Income Tax Question Book by Alan and Garry Kirby 2013 ed.


Australian Income Tax Answer Book by Alan Kirby and Garry Kirby 2013 Edition

Other Resources

Relevant learning resources will be placed on the Blackboard progressively throughout the semester. Students will need to access this site on a weekly basis to obtain exercises set for practice and they will also be given weekly handouts as appropriate.

Overview of Assessment

Three tests and one assignment are required to be submitted to a competent level.

Assessment Tasks

Overview of Assessment

Students must demonstrate an understanding of all elements of competency to be deemed competent.

A range of assessment methods are used to assess practical skills and knowledge, for example:
• direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
• review of authenticated documents from the workplace or training environment
• demonstration of techniques

Critical aspects of assessment

Evidence of the following is essential:

Demonstrate knowledge and understanding of Australian taxation laws such that it can be applied to taxation affairs

Access, interpret and comply with information on relevant legislation, statutes, regulation and ATO rulings

Provide taxation advice having regard to the relevant facts and law

Develop organisational procedures to meet compliance requirements

Gather and verify data to calculate taxable income and review for compliance

Apply organisational policies and procedures and accounting principles and practices

Prepare tax returns for business


Assessment Tasks

You are required to complete 4 tasks. You must successfully complete all 4 tasks to be deemed competent in this unit.

Task 1 ( Due week 6 )

For this assessment, you sit a closed book test which covers the material presented in weeks 1 to 5 of the semester, namely partnerships and trusts. The test will be of 2 hours duration. The assessment will be based on a competent or not yet competent basis. You must pass this test to pass the semester.


Task 2 ( Due week 9 ).

This task is an assignment which students are requested to undertake in groups of 3, with each student making their own contribution to the overall effort. The assignment stars Dave Rudd a sheep farmer, who owns a large property in outback Australia. Playing the boardgame Squatter creates transactions which, when analysed, enables the students to prepare a tax return for one year,and estimate tax payable after offsets. The students are also required to produce completed accounting records. The assessment will be based on a competent or not yet competent basis. You must pass this assignment to pass the semester

Task 3 ( Due week 11 ).

This task is a closed book test which will be  based on the material presented in weeks 7 to 11. The assessment will be based on a competent or not yet competent basis.

Task 4 (Due week15)

This task is the final test, also closed book, which will be based on the material presented in weeks 12 to 14. The assessment will be based on a competent or not yet competent basis.

Students who are not deemed competent in the tasks 1, 2, 3 and 4 assessments, will be given the opportunity to resit or resubmit the assessment concerned. This will be conducted at a time suitable to both student and teacher. It is your responsibility to ensure that you have checked gradebook for the ontcome of each assessment, and if not competent, that you find out when the resit or resubmission is taking place.


Submission Requirements 

Assessment tasks need to be submitted as follows:

Test 1 and Test 2  and final Test 3  ( will be presented and submitted during your normal weekly scheduled classes ).

The Assignment is to be submitted via Blackboard with a cover sheet containing all appropriate details.

You should:

• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at;ID=ls0ydfokry9rz website.
• 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 work for assessment 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. 

Marking Guide (competency): 

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. This will be recorded in the gradebook. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

Marking Guide (Grading) 

After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.

The grading is according to the following criteria:


We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to undertaking and completing the work assigned. 


We are looking for depth of understanding of the key concepts. You should be able to demonstrate a thorough understanding of all applicable principles and concepts in all the assessment tasks.


We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. 


We expect to see ongoing uploading of information into Pebble Pad that is relevant to the unit, full utilisation of Pebble Pad and Blackboard as per course requirements and timely submission of all required assessment tasks.


We expect to see contributions to relevant discussions and scheduled Collaborate sessions. 

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 

Further information regarding the application of the grading criteria will be provided by your teacher.







Assessment Matrix

Course Overview: Access Course Overview