Course Title: Process business tax requirements

Part B: Course Detail

Teaching Period: Term1 2012

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

Thomas Scordo   9925 5462

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:

1.1 The 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 lodgements 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 Leaning Activities
1 6/2/2012 Chap1.                     Introduction – Tax Fundamentals
Assessment requriements communicated and handed            out
1 - 3 Task                             Sheet No.1 Pt1
2 13/2/2012 Ch 1. Introduction – Tax Fundamentals 1 - 3 Task Sheet No.1 Pt 2 (Review Task Sheet 1 Pt 1)
3 20/2/2012 Ch 2. The tax file system and ABN System 1 - 3 Task Sheet No. 2 (Review Task Sheet 1 Pt 2)
4 27/2/2012 Ch 3. Pay As You Go 1 - 3 Task Sheet No. 3 (Review Task Sheet 2)
5 5/3/2012 Ch 4. Goods and Services Tax 1 - 3 Task Sheet No. 4 Pt1 (Review Task Sheet 3)
6 12/3/2012 Ch 4. Goods and Services Tax 1 - 3 Task Sheet No.4 Pt 2 (Review Task Sheet 4 Pt 1)
 7  19/3/2012  Business activity statement  1 - 3  
 8  26/3/2012  Ch 5. Fringe Benefits Tax
 1 - 3  Task Sheet No.5 (Review Task Sheet 4 Pt 2
 9 2/4/2012  Ch 6. Superannuation Guarantee Levy  1 - 3  Task Sheet No.5 (Review Task Sheet 4 Pt 2)
 10  16/4/2012  Ch 7. Commonwealth Supported Places
Ch 8. The Child Support Agency
 1 - 3  Task Sheet No.6 (Review Task Sheet 5)
 11  23/4/2012  Ch 9. Payroll Tax
Ch 10. Stamp Duty
Ch 11 Land Tax
 1 - 3  Task Sheet No.7 (Review Task Sheet 6)
 12 30/4/2012  Finalize “Targeting Tax Crime Assignment  1 - 3  Review Task Sheet 7
 13  7/5/2012  Assessment 1 Targeting Tax Crime Assignment Due
Practice Test
14 14/5/2012 Revision    
15 21/5/2012 Assessment 2 Final Test    
16 28/5/2012 Reassessments    

Learning Resources

Prescribed Texts

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


Other Resources

Students are expected to check the Blackboard frequently for any announcements/materials. Handouts will be given as and when required.

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

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 evidence

Evidence of the following is essential:
To achieve competency in this unit, a person must be able to demonstrate:
Knowledge of specific taxation requirements for business purposes
Knowledge of taxation parameters
Knowledge of accounting terminology
Knowledge of Australian taxation requirements
Ability to maintain accounting records for taxation purposes
Ability to establish and maintain a process for managing business tax returns
Ability to process business tax returns and lodgements

Assessment Tasks:

TASK 1 (DUE Date week 13)
For this assessment task you are bringing to your supervisor’s attention the significance of tax crime within Australia and globally. In addition you will demonstrate the significance of always conducting your professional and personal financial dealings with the utmost care. You will gain an understanding of the prevalence and implications of tax evasion and money laundering.
This task will be in the form of a case study requiring research on the internet. It will be made up of short answer questions.

TASK 2 (Due date week 15)
For this assessment task you will have two distinct parts, part A and B is an open book test covering all of the topics from weeks 1 to11. Part C is closed book and is a test using multiple choice items only. The test duration is 120 minutes. The student will complete Part C first without access to materials, then hand in Part C answers, followed by attempting Parts A and B having now got access to any materials but not being able to communicate with other students.
Studennts are permitted to use either pen or pencil to complete this test.

TASK 3(Due date various dates)
Work folio: consisting of a number of task sheets.
Students will be requested to Complete designated questions from the textbook, and these will be submitted on a regular basis to the teacher.

Assessment Matrix

Submission Requirements

Assessment tasks need to be submitted via the Blackboard and in-class where indicated.

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. For example, Thomas Scordo, 324567, Task 2, ACCT5250C Process Business Tax Reqs, Page 1 of 10.

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. 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 processing business tax returns.


We are looking for depth of understanding of the key concepts and knowledge required in processing business tax returns. You should be able to demonstrate a thorough understanding of all applicable business tax legislative requirements 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. You also need to show an understanding of the kinds of problems that can arise in processing business tax returns and how these might be addressed.


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 participation in scheduled Collaborate sessions. In addition your tasks should demonstrate a very good understanding of strategies for a collaborative approach to processing business tax returns in the workplace.

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

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 are the following employability skills:


Course Overview: Access Course Overview