Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to research, analyse and apply legal principles to provide advice on property law matters to clients.
It applies to individuals whose job role involves the application of knowledge of property law in the workplace.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet educational requirements of the Tax Practitioner Board (TPB). Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Unit Sector
Tax practice
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Research legal aspects of property law |
1.1 Identify client's circumstances that require advice on property law matters 1.2 Research relevant property law and related legislation, regulation and practice 1.3 Identify different types of appropriate property transactions and clearly outline their legal context, establishment procedures and purpose 1.4 Identify relevant legal principles applying to property matters that are relevant to client circumstances |
2. Analyse legal issues and risks associated with operation of a business |
2.1 Identify areas of risk in application of law in property matters 2.2 Analyse how legal issues impact on different types of legal entities and business structures 2.3 Evaluate relevance to client circumstances and implication of risks for structure, operation and performance of different types of legal entities and business structures |
3. Apply knowledge of property laws to client circumstances |
3.1 Collect and collate client's available information for analysis 3.2 Interpret, analyse and process available information to obtain required knowledge applicable to client circumstances 3.3 Seek advice and guidance of specialist if required, to interpret, analyse and synthesise client and legal information 3.4 Provide advice to client based on client’s circumstances and relevant law |
4. Maintain legal knowledge |
4.1 Review client's circumstances and apply any changes in relevant aspects of property law 4.2 Review relevant legal sources regularly and apply any changes in daily work 4.3 Access and use systems for keeping up with changes and maintain up-to-date knowledge about relevant legal aspects of property law |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Learning |
4.3 |
|
Reading |
1.1-1.3, 2.1-2.3, 3.1, 3.3, 4.1 |
|
Writing |
1.3, 2.3, 3.2-3.4, 4.1, 4.2 |
|
Oral Communication |
3.3, 3.4 |
|
Navigate the world of work |
1.1, 1.3, 1.4, 3.2, 3.4, 4.1 |
|
Interact with others |
1.3, 3.3, 3.4 |
|
Get the work done |
1.1-1.4, 2.1-2.3, 3.1, 3.2, 4.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSTPB505 Apply legal principles in property law |
FNSTPB502A Apply legal principles in commercial and property law |
Updated to meet Standards for Training Packages. Title updated. Wording changes and renumbering of performance criteria to clarify intent of unit. |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe