Course Title: Process business tax requirements
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: ACCT5194C
Course Title: Process business tax requirements
School: 650T TAFE Business
Campus: City Campus
Program: C4169 - Certificate IV in Financial Services (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: 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
This Unit of Competency is taught in conjunction with:
BSBADM308A Process Payroll [ACCT5152C]
Course Description
This unit covers the competency to maintain the taxation accounting records and process lodgements and returns in accordance with Australian Taxation Office (ATO) requirements, excluding income tax. 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.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT401A Process business tax requirements |
Element: |
Establish and maintain a process for managing business tax returns |
Performance Criteria: |
1. The accounting system for taxation is determined |
Element: |
Maintain accounting records for taxation purposes |
Performance Criteria: |
1. An accounting system is established to manage taxation lodgement process |
Element: |
Process business tax returns and lodgements |
Performance Criteria: |
1. Required returns and lodgements are identified |
Learning Outcomes
Please refer to Elements of Competency.
Details of Learning Activities
Students will be required to complete exercises as specified from the textbook and undertake research using other resources for specified topics and produce a report on the information obtained.
Teaching Schedule
12
Week | Week Commencing |
Topic | Reference |
1 | Feb 11 | Introduction to Business taxation, the liability for taxation, taxable income, substantiation and the rights of taxpayers. | Chapter one |
2 | Feb 18 | Tax file numbers, Australian Business Numbers; the procedure to apply for a tax file number and Australian Business Numbers. | Chapter Two |
3 | Feb 25 | Pay as you go withholding system, registration, obligations of a payer and calculation of the PAYG withholding amounts. | Chapter Three |
4 | Mar 3 | Goods and services tax | Chapter Four |
5 | Mar 10 | Fringe benefits tax | Chapter Five |
6 | Mar 17/March 24 | Superannuation guarantee levy | Chapter Six |
7 | Mar 31 | HECS /HELP; Child support agency | Chapter Seven and Eight |
8 | April 7 | Payroll tax | Chapter Nine |
9 | April 14 | Stamp duty ; Land tax | Chapter Ten and Eleven |
10 | April 21 | Business tax review, Process Payroll manual |
Yates chapter 7 |
11 | April 28 | Process Payroll manual/ computerised Test 1 Business tax | |
12 | May 5 | Process Payroll manual/ computerised | Yates chapter 7, Sutherland Ch 9 |
13 | May 12 | Process Payroll manual/ computerised | Yates chapter 7, Sutherland Ch 9 |
14 | May 19 | Process Payroll manual/ computerised | Yates chapter 7, Sutherland Ch 9 |
15 | May 26 | Process Payroll manual/ computerised | Test one Payroll manual |
16 | June 2 | Business tax Presentations and reports. Presentations | |
17 | June 17 | Business tax Presentations and reports. | Assessment Two, computerised payroll |
18 | June 16 | Final date for resubmission of assessments and tests |
Learning Resources
Prescribed Texts
Office tax procedures 7th Edition Bowers, Vinton, Vidler Pearson Education Australia. |
9780733979019 |
Computer accounting a systematic approach Euan Sutherland version 17 |
9780733991134 |
References
Other Resources
Overview of Assessment
Students must demonstrate an understanding of current taxation requirements in relation to businesses and individuals. A range of assessment methods will be used including class exercises (which will include practical problem solving exercises), tests, workbook, assignment and group presentation, these assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
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.
Assessment Tasks
Test 75%
Report/presentation 25%
The assessment for this unit will require satisfactory completion of one open book test, a presentation and report and the completion of a folio of evidence.
Assessment Matrix
|
Folio of Evidence | Test | Presentation and Report. | Resubmissions available |
FNSACCT401A/01 Maintain accounting records for taxation purposes | X | X | X | |
FNSACCT401A/02 Establish and maintain a process for managing business tax returns | X | X | X | |
FNSACCT401A/03 Process business tax returns and lodgements | X | X | X |
Course Overview: Access Course Overview