Course Title: Prepare legally compliant tax returns for individuals
Part A: Course Overview
Program: C5260
Course Title: Prepare legally compliant tax returns for individuals
Portfolio: BUS
Nominal Hours: 80.0
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.Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ACCT5354C |
City Campus |
TAFE |
650T Vocational Business Education |
Face-to-Face or Workplace |
Term1 2013,
Term2 2013, Term1 2014, Term2 2014, Term1 2015, Term2 2015 |
Course Contact: Bruce Phillips
Course Contact Phone: +61 3 99255735
Course Contact Email: bruce.phillips@rmit.edu.au
Course Description
This unit is about preparing income tax returns for individuals. It helps you to understand the principles, without having to deal with complicated legal jargon. This is includes gathering and verifying data, such as payment summaries.It also involves calculating taxable income and tax payable.
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
National Competency Codes and Titles
National Element Code & Title: |
FNSACC502B Prepare legally compliant tax returns for individuals |
Elements: |
1. Gather and Verify Data |
2. Calculate Taxable Income |
|
3. Review Compliance |
Learning Outcomes
This unit is about preparing income tax returns for individuals. It helps you to understand the principles, without having to deal with complicated legal jargon. This includes gathering and verifying data, such as payment summaries. It also involves calculating taxable income and tax payable.
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 tests, problem solving exercises, 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.
You are advised that you will be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met. You will be provided with feedback throughout the course to check your progress.
Task 1 is a closed book test covering the rules on assessable income weeks 1-6.
Task 2 you are to produce a tax return and accompanying estimates of tax payable for the current year tax return of a fictional character Lou Tide
Task 3 is a closed book testcovering the rules on deductions and decline in value(depreciation).
You must successfully complete all 3 tasks to be deemed competent in this unit.