Unit of competency Outline
Date retreived
22/07/2026 6:25 PM AWST
22/07/2026 6:25 PM 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.
Prepare complex tax returns
Prepare complex tax returns
Unit of competency
National Code
FNSACC601A
FNSACC601A
State Code
D4046
D4046
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
27/02/2014
Field of Education
080101 - Accounting
Original Release Date
27/02/2014
Nominal Hours
80
Description
This unit describes the performance outcomes, skills and knowledge required to identify taxation requirements for complex lodgements and returns, gather, analyse and process taxation related data to prepare taxation returns and lodgements, and review 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. Identify taxation requirements for complex lodgements and returns
- 1.1. Organisational structure of the taxation entity is identified
- 1.2. Taxation parameters of the organisation are determined
- 1.3. Lodgement schedule requirements are established
2. Gather and analyse taxation related data
- 2.1. Accounting reports relevant to taxation requirements are identified and collected
- 2.2. Accounting information is analysed to determine relevant taxation elements
3. Process data and prepare tax returns and lodgements
- 3.1. Data is processed to comply with the relevant taxation format
- 3.2. Returns and lodgements are prepared in accordance with Australian Taxation Office (ATO) requirements
4. Review taxation lodgement compliance
- 4.1. Lodgements and returns are submitted for authorisation by an approved person within the stated deadlines
- 4.2. Taxation preparation procedures are reviewed to determine their efficiency and effectiveness
- 4.3. Recommendations arising from the taxation lodgement review are made to enable more efficient organisational structures and procedures for taxation purposes
- 4.4. Tax office enquiries are responded to and taxation audit requirements met
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.
Organisational structures may include:
companies
non-complex superannuation funds
partnerships
sole traders
trusts.
Taxation parameters may include:
cash or non-cash accounting
lodgement schedules
tables, calculations and schedules
tax rates.
Lodgement schedules may include:
Fringe Benefits Tax (FBT)
fuel tax credits
Goods and Services Tax (GST) instalments
Luxury Car Tax
Pay-As-You-Go (PAYG) tax withheld
PAYG income tax instalments
payroll tax
wine equalisation tax
withholdings.
Accounting reports relevant to taxation requirements may include:
capital expenditure
cash flow statements
depreciation schedules
financial expenses
payroll
statement of financial performance
statement of financial position.
Returns and lodgements may include:
annual returns
Business Activity Statement (BAS)
Fringe Benefits Tax (FBT)
payroll tax
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.
Organisational structures may include:
companies
non-complex superannuation funds
partnerships
sole traders
trusts.
Taxation parameters may include:
cash or non-cash accounting
lodgement schedules
tables, calculations and schedules
tax rates.
Lodgement schedules may include:
Fringe Benefits Tax (FBT)
fuel tax credits
Goods and Services Tax (GST) instalments
Luxury Car Tax
Pay-As-You-Go (PAYG) tax withheld
PAYG income tax instalments
payroll tax
wine equalisation tax
withholdings.
Accounting reports relevant to taxation requirements may include:
capital expenditure
cash flow statements
depreciation schedules
financial expenses
payroll
statement of financial performance
statement of financial position.
Returns and lodgements may include:
annual returns
Business Activity Statement (BAS)
Fringe Benefits Tax (FBT)
payroll tax
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:
access, interpret and comply with ATO requirements
assess organisational structures and identify taxation requirements for complex lodgements and returns
gather and analyse complex taxation related data, process and prepare tax returns and lodgements
review taxation lodgement 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 requirements set by the Tax Practitioner's Board
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:
access, interpret and comply with ATO requirements
assess organisational structures and identify taxation requirements for complex lodgements and returns
gather and analyse complex taxation related data, process and prepare tax returns and lodgements
review taxation lodgement 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 requirements set by the Tax Practitioner's Board
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 |
|---|---|---|---|
| C9608 | FNSACCT601B | Prepare complex tax returns and lodgements | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| WC232 | FNSACC601B | Prepare and administer compliant tax returns for legal entities | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| J304 | PSP50512 | Diploma of Government (Financial Services) | Qualification |