Unit of competency Outline

Date retreived
22/07/2026 5:51 AM AWST

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Process business tax requirements

Process business tax requirements

Unit of competency
National Code
FNSACC401
State Code
AUX05
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
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
50
Description
This unit describes the skills and knowledge required to maintain business taxation accounting records and process lodgements and returns in accordance with Australian Taxation Office (ATO) requirements, excluding income tax. Documentation for business activity statements (BAS) must be authorised by a registered BAS agent.It applies to individuals who, within their level of authority, apply specialised knowledge and follow defined procedures to administer and process information.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Maintain accounting records for taxation purposes
  • 1.1 Access and correctly interpret taxation accounting system
  • 1.2 Establish and maintain adequate records to support taxation accounting system
  • 1.3 Comply with specific taxation requirements for business documents
2. Establish and maintain process for managing business tax returns
  • 2.1 Establish accounting process to manage taxation lodgements process
  • 2.2 Maintain sufficient and current records to comply with lodgement requirements
  • 2.3 Establish and meet lodgement schedule requirements
3. Process business tax returns and lodgements
  • 3.1 Identify and appropriately use required returns and lodgements
  • 3.2 Process accounting data to comply with taxation reporting requirements
  • 3.3 Draft returns and lodgements for review by authorised personnel
No information
No information
Replaces
State Code National Code Title Type
D4033 FNSACC401A Process business tax requirements Unit of competency
Replaced By
State Code National Code Title Type
BBI08 FNSACC411 Process business tax requirements Unit of competency
State Code National Code Title Type
AWF3 FNS40615 Certificate IV in Accounting Qualification
AWC3 FNS40115 Certificate IV in Credit Management Qualification