Course Title: Implement tax plans and evaluate tax compliance
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: ACCT5207C
Course Title: Implement tax plans and evaluate tax compliance
School: 650T TAFE Business
Campus: City Campus
Program: C6072 - Advanced Diploma of Accounting
Course Contact : Bruce Phillips
Course Contact Phone: +61 3 9925 5735
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
FNSACCT502A Prepare income tax returns [ACCT 5199C]
Course Description
This unit covers the competency to implement tax plans and evaluate tax compliance.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT603A Implement tax plans and evaluate tax compliance |
Element: |
Assess tax liabilities |
Performance Criteria: |
1. Organisational and operational tax liabilities are identified by analysis of external and internal taxable transactions |
Element: |
Establish processes and plans |
Performance Criteria: |
1. Management plans and record keeping systems are developed to implement financial management strategies and ensure the maintenance of an audit trail |
Element: |
Evaluate tax policies |
Performance Criteria: |
1. Variances between liabilities and taxation plans are analysed to identify errors in tax strategies |
Element: |
Optimise tax positions |
Performance Criteria: |
1. Implications of obligation on operations and structures are assessed to develop a range of treatments and responses |
Element: |
Review tax compliance |
Performance Criteria: |
1. The achievement of performance indicators is assessed and reviewed against key result areas |
Learning Outcomes
On completion of this course a student should be able to deomonstrate an understanding of applying taxation knowledge to practice while conforming with regulatory and business requirements.
Details of Learning Activities
Candidates will be exposed to various requirements for compliance with tax legislation and rulings and practices, and be expected to problem solve various taxation situations from textbooks and supplementary tasks, using research on-line and textbook based. The candidate should be able to locate the answers to a series of problems; so at the conclusion they have a broad ability to locate a resource which they can interpret to solve tax ambiguities and compliance issues.
Teaching Schedule
Week | Week Begin |
Topic as per Student Learning Guide | Assessment | Elements |
1 | 11 Feb | Introduction to tax planning; Tasks1&2 [web sites] | 1,2,3,4,5 | |
2 | 18 | Tasks 3,4 &5[Ruling system] | 1,2,3,4,5 | |
3 | 25 | Tasks 6[Returns, assessments & amendments] | 1,2,3,4,5 | |
4 | 3 Mar | Task 7[Audits & self-assessment system] | 1,2,3,4,5 | |
5 | 10 | Task 8[Amendments continued] | 1,2,3,4,5 | |
6 | 17 | Tasks 9,10,11,12& Review Qs[Payment of tax, Objections & Appeals] | 1,2,3,4,5 | |
24 | MID SEMESTER BREAK | |||
7 | 31 | Tasks 13 & Review Qs &Research Qs 20,21 [Penalties & Offences] | 1,2,3,4,5 | |
8 | 7 Apr | Test 1 | Test 1 (40%) Assignment out |
1,2,3,4,5 |
9 | 14 | Introduction to Fringe benefits tax | 1,2,3,4,5 | |
10 | 21 | Motor vehicle Fringe benefits calculations | 1,2,3,4,5 | |
11 | 28 | Motor vehicle Fringe benefits & loan calcs | Assignment due | 1,2,3,4,5 |
12 | 5 May | Fringe benefits tax-otherwise deductible rule, exemptions | 1,2,3,4,5 | |
13 | 12 | FBT returns | 1,2,3,4,5 | |
14 | 19 | FBT & salary packaging | 1,2,3,4,5 | |
15 | 26 | FBT & salary packaging | 1,2,3,4,5 | |
16 | 2 Jun | Test 2 | Test 2 (40%) | 1,2,3,4,5 |
17 | 9 | Resits and resubmissions | 1,2,3,4,5 | |
18 | 16 | Feedback- course/tests/competencies | 1,2,3,4,5 |
Learning Resources
Prescribed Texts
Question Book Australian Income Tax by Alan Kirby, 2008 ed. |
References
Answer Book Australian Income Tax by Alan Kirby, 2008 ed. |
Other Resources
Notes and exercises made available by teacher , on the DLS.
Overview of Assessment
A student must demonstrate a clear understanding of all elements of the required competencies to be deemed competent. Assessment may include a variety of methods such as tests, workbooks, assignments, presentations and class exercises.
Formative feedback is provided throughout the course. This occurs by the teacher providing information to the student to infom them how they are succeeding in the course and areas that require more work to succeed. Formative feedback is not a piece of assessment that contributes to the student’s final result.
Assessment Tasks
test 1 40%
test 2 40%
Assignment 20%
100%
The tests will be conducted in an examination format.
They will be strictly closed book tests.
The student will have to satisfactorily complete all assessment tasks, and to pass will have a total mark of 50% or more.
Assessment Matrix
Element | Test 1 | Test 2 | Assignment |
Assess atx liabilities | X | X | X |
Optimize tax positions | X | X | X |
Establish processes & plans | X | X | X |
Evaluate tax policies | X | X | X |
Review tax compliance | X | X | X |
Course Overview: Access Course Overview