Unit of competency Outline

Date retreived
22/07/2026 7:54 AM AWST

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Prepare and administer tax documentation for legal entities

Prepare and administer tax documentation for legal entities

Unit of competency
National Code
FNSACC601
State Code
AUQ15
TGA Status
Current
DTWD Status
Approved
Current Release Number
4.00
Current Release Date
03/11/2022
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080101 - Accounting
Original Release Date
16/09/2015
Nominal Hours
80
Description
This unit describes the skills and knowledge required to identify taxation requirements for complex lodgements and returns for legal entities. It involves gathering, analysing and processing taxation related data to prepare tax documentation, and to review and apply compliance requirements.It applies to individuals who use specialised knowledge and systematic approaches and who follow specific guidelines to ensure compliance requirements are met.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.
Notes
Elements and Performance Criteria
1. Identify taxation requirements for complex lodgements and returns
  • 1.1 Identify and confirm suitability of legal entities within client's organisational structure
  • 1.2 Conduct research to identify updates or additions to compliance requirements relevant to client's circumstances, and establish recording and reporting requirements
  • 1.3 Determine client's tax documentation preparation requirements
2. Gather and analyse data relevant to client’s tax position
  • 2.1 Identify and collect client data relevant to tax documentation requirements
  • 2.2 Analyse data to extract relevant tax information and identify any discrepancies requiring verification or research for resolution
  • 2.3 Obtain advice and guidance from specialist to evaluate and moderate decision processes
3. Prepare and present tax documentation
  • 3.1 Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices
  • 3.2 Prepare tax documentation to comply with relevant Australian Taxation Office (ATO), legislative and organisational recording and reporting requirements
  • 3.3 Present and confirm documentation with clients to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met
4. Lodge tax documentation
  • 4.1 Submit relevant tax documentation to the ATO within established timelines
  • 4.2 Advise client of current tax obligations and that any advice from taxation authorities is to be followed
  • 4.3 Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner
No information
No information
Replaces
State Code National Code Title Type
WC232 FNSACC601B Prepare and administer compliant tax returns for legal entities Unit of competency