Unit of competency Outline
Date retreived
23/07/2026 5:04 AM AWST
23/07/2026 5:04 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Implement tax plans and evaluate tax compliance
Implement tax plans and evaluate tax compliance
Unit of competency
National Code
FNSACC603A
FNSACC603A
State Code
D4048
D4048
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
07/07/2014
Field of Education
080101 - Accounting
Original Release Date
07/07/2014
Nominal Hours
60
Description
This unit describes the performance outcomes, skills and knowledge required to assess taxation liabilities, optimise tax positions, establish processes and plans, evaluate tax policies and review tax compliance.This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements. The Tax Practitioner's Board has set specific educational and experience requirements for registration of tax agents that must be met.
Notes
Elements and Performance Criteria
1. Assess tax liabilities
- 1.1. Organisational and operational tax liabilities are identified by analysis of external and internal taxable transactions
- 1.2. History and trends in obligations arising from organisational transactions are quantified using standard accounting techniques
- 1.3. Data from transactions are analysed to resolve ambiguities and determine the nature of taxation options
- 1.4. Effects of taxes are analysed and scheduled by assessing methods of determination, tax bases and timing of incidence
2. Optimise tax positions
- 2.1. Implications of obligations on operations and structures are assessed to develop a range of treatments and responses
- 2.2. Financial management strategies are developed to ensure the alignment of cash flow with incidence and schedules of tax payments
- 2.3. Trends in tax liabilities are analysed and monitored to develop a history of obligations and compliance
3. Establish processes and plans
- 3.1. Management plans and record keeping systems are developed to implement financial management strategies and ensure the maintenance of an audit trail
- 3.2. Management processes are documented to ensure they promote standard application of compliance requirements
- 3.3. Taxation liabilities are derived from income and expenditure estimates using standard accounting techniques
- 3.4. Budgets are prepared in accordance with estimates and reviewed to ensure ongoing relevance of liability estimates
4. Evaluate tax policies
- 4.1. Variances between liabilities and taxation plans are analysed to identify errors in tax strategies
- 4.2. Performance of tax liabilities in similar or related organisations and operations are monitored and evaluated to measure tax effectiveness and prepare benchmarks and standards
- 4.3. Data is reviewed for accuracy, completeness and reliability of assumptions in liability projections
5. Review tax compliance
- 5.1. The achievement of performance indicators is assessed and reviewed against key result areas
- 5.2. Taxation preparation processes are monitored and reviewed in line with professional taxation and accounting standards requirements
- 5.3. Failures in compliance are analysed to diagnose shortcomings and to remedy processes in line with taxation authorities' requirements
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Tax liabilities may include:
Fringe Benefits Tax (FBT)
fuel tax credits.
Goods and Services Tax (GST)
income tax including corporate tax and CGT
instalments
luxury car tax
Pay-As-You Go (PAYG) tax withheld
PAYG income tax instalments
State government charges such as payroll taxes
superannuation requirements
wine equalisation tax
withholdings.
Taxable transactions may include:
allowable deductions
capital gains
financial adjustments such as:
write-offs
revaluations
income
payments
purchases
superannuation payments.
Obligations may include:
explanatory statements
lodgement dates
repayment schedules
supporting documentation.
Standard accounting techniques may include:
deprival asset valuations
direct allocation
discounted cash flows
forecasting techniques
impact statements
pay-back periods
pro rata and percentage apportionment
rates of return.
Data may include:
Australian Bureau of Statistics (ABS) economic data
budgets and forecasts
credit ratings
financial markets monitoring services
financial statements and reports
market valuations
revenue and sales.
Methods of determination may include:
forecasted income
fringe benefits assessments
income assessment
investment income
sales receipts
superannuation contributions.
Tax bases may include:
employees
revenue gathering practices
salaries
superannuation.
Financial management strategies may include:
adjustment of borrowings
asset liquidation
budget absorption
cost recoveries
long-term investments
purchases.
Record keeping systems may include:
centralised and decentralised recording
classification by account performance
classification by account type
invoices
periodic updates:
daily
transaction-based
monthly
purchase orders
receipts
recording authorities
requisitions.
Management processes may include:
decision making authorities
expenditure authorities
lending approvals
program responsibilities
signature approvals.
Variances may include:
budget expenditures
profits and losses
rates of investment returns
unit costs.
Assumptions may include:
cash and business returns
competitors' behaviour
expenditure limits
market share growth
productivity levels
regulatory stability.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Tax liabilities may include:
Fringe Benefits Tax (FBT)
fuel tax credits.
Goods and Services Tax (GST)
income tax including corporate tax and CGT
instalments
luxury car tax
Pay-As-You Go (PAYG) tax withheld
PAYG income tax instalments
State government charges such as payroll taxes
superannuation requirements
wine equalisation tax
withholdings.
Taxable transactions may include:
allowable deductions
capital gains
financial adjustments such as:
write-offs
revaluations
income
payments
purchases
superannuation payments.
Obligations may include:
explanatory statements
lodgement dates
repayment schedules
supporting documentation.
Standard accounting techniques may include:
deprival asset valuations
direct allocation
discounted cash flows
forecasting techniques
impact statements
pay-back periods
pro rata and percentage apportionment
rates of return.
Data may include:
Australian Bureau of Statistics (ABS) economic data
budgets and forecasts
credit ratings
financial markets monitoring services
financial statements and reports
market valuations
revenue and sales.
Methods of determination may include:
forecasted income
fringe benefits assessments
income assessment
investment income
sales receipts
superannuation contributions.
Tax bases may include:
employees
revenue gathering practices
salaries
superannuation.
Financial management strategies may include:
adjustment of borrowings
asset liquidation
budget absorption
cost recoveries
long-term investments
purchases.
Record keeping systems may include:
centralised and decentralised recording
classification by account performance
classification by account type
invoices
periodic updates:
daily
transaction-based
monthly
purchase orders
receipts
recording authorities
requisitions.
Management processes may include:
decision making authorities
expenditure authorities
lending approvals
program responsibilities
signature approvals.
Variances may include:
budget expenditures
profits and losses
rates of investment returns
unit costs.
Assumptions may include:
cash and business returns
competitors' behaviour
expenditure limits
market share growth
productivity levels
regulatory stability.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and use standard accounting techniques
work within organisational policies and procedures
assess tax liabilities and optimise tax position
establish processes and plans
evaluate tax policies and review compliance.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to an integrated financial software system and data.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
assessment as set by the Tax Practitioners Board for BAS and tax agent registration
verbal or written questioning on underpinning knowledge and skills
setting and reviewing business taxation simulations
evaluating samples of work.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and use standard accounting techniques
work within organisational policies and procedures
assess tax liabilities and optimise tax position
establish processes and plans
evaluate tax policies and review compliance.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to an integrated financial software system and data.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
assessment as set by the Tax Practitioners Board for BAS and tax agent registration
verbal or written questioning on underpinning knowledge and skills
setting and reviewing business taxation simulations
evaluating samples of work.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9610 | FNSACCT603B | Implement tax plans and evaluate tax compliance | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ13 | FNSACC603 | Implement tax plans and evaluate tax obligations | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S735 | FNS60210 | Advanced Diploma of Accounting | Qualification |
| J324 | PSP60312 | Advanced Diploma of Government (Financial Management) | Qualification |
| J304 | PSP50512 | Diploma of Government (Financial Services) | Qualification |