Course Title: Process business tax requirements

Part B: Course Detail

Teaching Period: Term1 2011

Course Code: ACCT5250C

Course Title: Process business tax requirements

School: 650T TAFE Business

Campus: City Campus

Program: C4169 - Certificate IV in Financial Services (Accounting)

Course Contact : Callie Harvey

Course Contact Phone: 9925-55772

Course Contact

Name and Contact Details of All Other Relevant Staff

Philip Dean
Phone: (+61 3) 9925 5484

Nominal Hours: 50

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


Course Description

This unit requires the application of skills and knowledge required to process business taxation requirements. The unit encompasses maintaining accounting records for taxation purposes, establishing and maintaining a process for managing business tax returns and processing business tax returns and lodgements. The unit has application across the different sectors of the financial services industry and applies to those job functions that have responsibility for processing business tax returns such as taxation specialists and accountants.

If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT401B Process business tax requirements


1. Maintain accounting records for taxation purposes

Performance Criteria:

1.1The accounting system for taxation is determined
1.2 Adequate records to support the taxation accounting system are maintained
1.3 Specific taxation requirements of business documents are complied with


2. Establish and maintain a process for managing business tax returns

Performance Criteria:

2.1 An accounting system is established to manage taxation lodgement process
2.2 Sufficient and current records are maintained to comply with lodgement requirements
2.3 Lodgement schedule requirements are established


3. Process business tax returns and lodgements

Performance Criteria:

3.1 Required returns and lodgements are identified
3.2 Accounting data is processed to comply with taxation reporting requirements
3.3 Returns and lodgements are drafted for review by authorised personnel

Learning Outcomes

Details of Learning Activities

Each week students will be introduced to various procedures in understanding Processing Business Tax requirements as well as underlying taxation theory. Various procedures and illustrative examples will be used to demonstrate the application of the taxation theory. Students will be working in teams to complete weekly task sheets on different aspects of business tax as well as completing written assignments to demonstrate their understanding on tax theory and tax calculations.

Teaching Schedule

Week Week Commencing Topics Elements Learning Activities
 1  07/02/2011  Ch 1. Introduction – Tax Fundamentals
Assessment requriements communicated and handed out
1 - 3  Task Sheet No.1 Pt1
 2  14/02/2011  Ch 1. Introduction – Tax Fundamentals 1 - 3   Task Sheet No.1 Pt 2  (Review Task Sheet 1 Pt 1)
 3  21/02/2011  Ch 2. The tax file system and ABN System 1 - 3  Task Sheet No. 2         (Review Task Sheet 1 Pt 2)
 4  28/02/2011  Ch 3. Pay As You Go 1 - 3  Task Sheet No. 3         (Review Task Sheet 2) 
 5  07/03/2011  Ch 4. Goods and Services Tax 1 - 3  Task Sheet No. 4 Pt1   (Review Task Sheet 3)
 6  14/03/2011  Ch 4. Goods and Services Tax 1 - 3  Task Sheet No.4 Pt 2    (Review Task Sheet 4 Pt 1)
 7  21/03/2011  Ch 5. Fringe Benefits Tax
 Ch 6. Superannuation Guarantee Levy
1 - 3  Task Sheet No.5            (Review Task Sheet 4 Pt 2)


 Ch 7. Commonwealth Supported Places
 Ch 8. The Child Support Agency

1-3   Task Sheet No.6            (Review Task Sheet 5)


 Ch 9. Payroll Tax
 Ch 10. Stamp Duty

Ch 11 Land Tax

 1-3  Task Sheet No.7            (Review Task Sheet 6)
 10  11/04/2011

 Assignment 1 - On-Line ATO Calculation (in-class assessment)


1 - 3  On Line ATO Tax Calculation assignment   (Review Task Sheet 7)
 11  18/04/2011  Assignment 2  Targeting Tax Crime due
 Practice Test
 Mid Semester Easter Break (21-27/04/2011)


  Practice Test  1-3  
 12  02/05/2011

 Final Test


Weekly schedule may be subject to change.
Students will be advised on the online learning hub and in class should any changes occur.
: Any resits will be conducted in week 13

Learning Resources

Prescribed Texts

Process Business Tax Requirements (8th Ed): Lewis & Deaner


Relevant learning resources will be placed on the learning hub (DLS) progressively throughout the semester. Students will need to access this site on a weekly basis (Thursday) to obtain exercises set for practice. COPIES OF MATERIALS WILL BE HANDED OUT IN CLASS ONLY ONCE

Other Resources

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

  1. Final Test  (two parts):                                                 CA/NYC (60%) 
  2. 50% practical open book – theory component
  3. 50% closed book – practical component

  1. Assignment 1 - On-Line ATO Tax Calculations     CA/NYC (15%)
  2. Assignment 2 -‘Targeting Tax Crime’                     CA/NYC  (25%)
  3. Work Folio  (Task sheets)                                          CA/NYC

To be deemed competent in the course you must pass all the assessments.

Assessment Matrix


Elements Final Test Work Portfolio
(Task Sheets)
Assignments 1 & 2
 1-3 V V                   v

Other Information

On completion of this course, you should be able to answer foundational, (introductory) theory and practical tax exercises.
Nominal hours (50hrs) exceed delivery hours by 24.5 hrs. This excess will be utilised with self learning exercises based on ATO tax calculators in addition to theory knowledge acquisition and test preparation.

Embedded within the unit of competency is the following skills:

  • Communication
  • Teamwork
  • Problem-solving
  • Initiative/enterprise
  • Planning/organising
  • Self-management
  • Learning
  • Technology

Course Overview: Access Course Overview