Release 1. This is the first release of this unit of competency in the DEF Defence Training Package.

This unit describes the skills required to develop tax strategies, perform taxation accounting, prepare tax returns and monitor compliance.

This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities related to taxation as part of their duties.

The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management activities.

Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform complex tasks in familiar context.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Not applicable.

Financial Management

Not applicable.

ELEMENTS 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1  

Develop tax strategy 

1.1 

Identify taxation issues

1.2 

Interpret and apply relevant taxation legislation and policies

1.3 

Identify and negotiate solution

2 

Perform taxation accounting 

2.1 

Extract report from the relevant financial systems

2.2 

Verify that taxation data is accurate and complete

2.3 

Prepare and process journal and payment documentation

2.4 

Reconcile accounts

3 

Prepare tax returns 

3.1 

Collate data for inclusion in tax return

3.2 

Perform calculations and categorise information

3.3 

Review calculations for accuracy and applicability

3.4 

Compile and submit tax return

4 

Monitor taxation compliance 

4.1 

Develop quality assurance sample from taxation report

4.2 

Investigate sample transactions

4.3 

Identify issues within the sample data

4.4 

Advise on solutions and initiate corrective action

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.

No equivalent unit.

Release 1. This is the first release of this unit of competency in the DEF Defence Training Package.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

• analysing financial transaction data
• applying statutory formulas
• applying taxation legislation requirements to public sector workplace enquiries
• collecting of Fringe Benefits Tax data
• engaging with stakeholders
• inputting and extracting financial information systems data
• processing journals
• processing payments
• undertaking reconciliations
• using financial software systems.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

• Fringe Benefit Tax return and Fringe Benefit Tax group tax return process
• relevant organisation policies and procedures
• purpose of a Business Activity Statement (BAS)
• taxation legislation governing taxation management in the organisation.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

• a range of relevant exercises, case studies and/or other simulations
• relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry
• applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals
• acceptable means of simulated assessment.