FNSACC512
Prepare tax documentation for individuals
ASSESSMENT
ASSESSMENT COVER SHEET
(Please ensure this cover sheet is completed and attached on top of each assessment)
QUALIFICATION CODE AND TITLE: FNS50217 Diploma of Accounting
UNIT CODE: FNSACC512 TITLE: Prepare tax documentation for individuals
Student Number
Student Name
Assessor Name
Assessment Name and Number
Assessment Task Number and Name
Assessment Due Date
Submission Date
Competency Date:
RESULT ?SATISFACTORY ? UNSATISFACTORY
FINAL OVERALL RESULT ?COMPETENT ? NOT YET COMPETENT
STUDENT DECLARATION
I declare that:
This assessment is my own work, based on my own study and research and no part of it has been copied from and other source except where due acknowledgement/reference has been made.
If this assessment was based on collaborative/teamwork, as authorised by the trainer, I have not submitted the same final version of any assessment material as another student.
I have not previously submitted this assessment or any part of this assessment for this or any other course/unit.
I have kept a copy of my assessment.
I give permission for my assessment to be reproduced, communicated, compared and archived for the purposes of detecting plagiarism.
I understand that plagiarism is the practice of taking someone else’s work or ideas and passing it off as one’s own work and that the attached assessment maybe checked for plagiarism.
I understand that collusion is presenting another person’s assessment as one’s own and/or providing your own work to another person to allow them to pass it off as their own.
Any assessment deemed unsatisfactory will require me to undergo reassessment which may be different to the one originally submitted.
I am aware that in the event that I disagree with the assessment outcome I have the right to appeal that result. I will follow the complaints and appeals process.
A late submission fee of $100 per assessment will apply if the assessment is submitted after the scheduled due date unless a formal extension has been granted by the Program Manager or Course Co-ordinator.
Student Signature: Date:
ASSESSMENT SUMMARY SHEET
To be deemed competent students must have a satisfactory result recorded for each assessment activity. If a result is not satisfactory for any assessment task, the trainer/assessor will determine the training and assessment tasks to be completed.
The student has been assessed as competent in the elements and performance criteria, performance evidence and knowledge evidence and in line with the assessment conditions. The students work submitted for this assessment is: ? Valid ? Sufficient ? Current ? Authentic
ASSESSMENT TASK 1
• SATISFACTORY •NOT SATISFACTORY •NOT APPLICABLE
ASSESSMENT TASK 2
• SATISFACTORY •NOT SATISFACTORY •NOT APPLICABLE
ASSESSMENT TASK 3
• SATISFACTORY •NOT SATISFACTORY •NOT APPLICABLE
Feedback to Student
The student has been given feedback and informed of the assessment result and the reasons for the decision.
Trainer/Assessor Signature
Date
Other
Resubmission Date
Is this assessment subject to an appeals process ? Yes ? No
Outcome of appeal
ASSESSMENT INFORMATION for students
Throughout your training we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into practical on the job improvements.
You are going to be assessed for:
Your skills and knowledge using written and observation activities that apply to the workplace.
Your ability to apply your learning.
Your ability to recognise common principles and actively use these on the job.
All of your assessment and training is provided as a positive learning tool. Your assessor will guide your learning and provide feedback on your responses to the assessment materials until you have been deemed competent in this unit.
HOW YOU WILL BE ASSESSED
The process we follow is known as competency-based assessment. This means that evidence of your current skills and knowledge will be measured against national standards of best practice, not against the learning you have undertaken either recently or in the past. Some of the assessment will be concerned with how you apply your skills and knowledge in the workplace, and some in the training room as required by each unit.
The assessment tasks have been designed to enable you to demonstrate the required skills and knowledge and produce the critical evidence to successfully demonstrate competency at the required standard.
Your assessor will ensure that you are ready for assessment and will explain the assessment process. Your assessment tasks will outline the evidence to be collected and how it will be collected, for example; a written activity, case study, or demonstration and observation.
The assessor will also have determined if you have any special needs to be considered during assessment. Changes can be made to the way assessment is undertaken to account for special needs and this is called making Reasonable Adjustment.
What happens if your result is ‘Not Yet Competent’ for one or more assessment tasks?
Our assessment process is designed to answer the question “has the desired learning outcome been achieved yet?” If the answer is “Not yet”, then we work with you to see how we can get there.
In the case that one or more of your assessments has been marked ‘NYC’, your trainer will provide you with the necessary feedback and guidance, in order for you to resubmit your responses.
What if you disagree on the assessment outcome?
You can appeal against a decision made in regards to your assessment. An appeal should only be made if you have been assessed as ‘Not Yet Competent’ against a specific unit and you feel you have sufficient grounds to believe that you are entitled to be assessed as competent. You must be able to adequately demonstrate that you have the skills and experience to be able to meet the requirements of units you are appealing the assessment of.
Your trainer will outline the appeals process, which is available to the student. You can request a form to make an appeal and submit it to your trainer, the course coordinator, or the administration officer. The RTO will examine the appeal and you will be advised of the outcome within 14 days. Any additional information you wish to provide may be attached to the appeal form.
What if I believe I am already competent before training?
If you believe you already have the knowledge and skills to be able to demonstrate competence in this unit, speak with your trainer, as you may be able to apply for Recognition of Prior Learning (RPL).
Assessor Responsibilities
Assessors need to be aware of their responsibilities and carry them out appropriately. To do this they need to:
Ensure that participants are assessed fairly based on the outcome of the language, literacy and numeracy review completed at enrolment.
Ensure that all documentation is signed by the student, trainer, workplace supervisor and assessor when units and certificates are complete, to ensure that there is no follow-up required from an administration perspective.
Ensure that their own qualifications are current.
When required, request the manager or supervisor to determine that the student is ‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means consistently meeting the standard expected from an experienced operator.
When required, ensure supervisors and students sign off on third party assessment forms or third party report.
Follow the recommendations from moderation and validation meetings.
How should I format my assessments?
Your assessments should be typed in a 11 or 12 size font for ease of reading. You must include a footer on each page with the student name, unit code and date. Your assessment needs to be submitted as a hardcopy or electronic copy as requested by your trainer.
How long should my answers be?
The length of your answers will be guided by the description in each assessment, for example:
Type of Answer Answer Guidelines
Short Answer 4 typed lines = 50 words, or
5 lines of handwritten text
Long Answer 8 typed lines = 100 words, or
10 lines of handwritten text = 1/3of a foolscap page
Brief Report 500 words = 1 page typed report, or
50 lines of handwritten text = 11/2foolscap handwritten pages
Mid Report 1,000 words = 2 page typed report
100 lines of handwritten text = 3 foolscap handwritten pages
Long Report 2,000 words = 4 page typed report
200 lines of handwritten text = 6 foolscap handwritten pages
How should I reference the sources of information I use in my assessments?
Include a reference list at the end of your work on a separate page. You should reference the sources you have used in your assessments in the Harvard Style. For example:
Website Name – Page or Document Name, Retrieved insert the date. Webpage link.
For a book: Author surname, author initial Year of publication, Title of book, Publisher, City, State

assessment guide
The following table shows you how to achieve a satisfactory result against the criteria for each type of assessment task. The following is a list of general assessment methods that can be used in assessing a unit of competency. Check your assessment tasks to identify the ones used in this unit of competency.
Assessment Method Satisfactory Result Non-Satisfactory Result
You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of these to be deemed competent overall. Your assessment may include the following assessment types.
Questions All questions answered correctly Incorrect answers for one or more questions
Answers address the question in full; referring to appropriate sources from your workbook and/or workplace Answers do not address the question in full. Does not refer to appropriate or correct sources.
Third Party Report Supervisor or manager observes work performance and confirms that you consistently meet the standards expected from an experienced operator Could not demonstrate consistency. Could not demonstrate the ability to achieve the required standard
Written Activity The assessor will mark the activity against the detailed guidelines/instructions Does not follow guidelines/instructions
Attachments if requested are attached Requested supplementary items are not attached
All requirements of the written activity are addressed/covered. Response does not address the requirements in full; is missing a response for one or more areas.
Responses must refer to appropriate sources from your workbook and/or workplace One or more of the requirements are answered incorrectly.
Does not refer to or utilise appropriate or correct sources of information
Observation/Demonstration All elements, criteria, knowledge and performance evidence and critical aspects of evidence, are demonstrated at the appropriate AQF level Could not demonstrate elements, criteria, knowledge and performance evidence and/or critical aspects of evidence, at the appropriate AQF level
Case Study All comprehension questions answered correctly; demonstrating an application of knowledge of the topic case study. Lack of demonstrated comprehension of the underpinning knowledge (remove) required to complete the case study questions correctly. One or more questions are answered incorrectly.
Answers address the question in full; referring to appropriate sources from your workbook and/or workplace Answers do not address the question in full; do not refer to appropriate sources.
Practical Activity All tasks in the practical activity must be competed and evidence of completion must be provided to your trainer/assessor.
All tasks have been completed accurately and evidence provided for each stated task. Tasks have not been completed effectively and evidence of completion has not been provided.
Attachments if requested are attached Requested supplementary items are not attached

written activity
Your task is to research the following topics then outline your findings in more than 100 words for each of the question.
Explain the following ethical considerations and legislative requirements which are relevant to the preparation of non-complex income tax documentation for individual taxpayers:
Conflict of interest
Responsibilities of tax agents, including those outlined in the Code of Professional Conduct obligations under TASA and the TASR.

Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Briefly explain the following key elements of Australian tax law, as it relates to individual taxpayer income tax documentation:
The rules and principles of Australian tax law, and the basics of legal system and environment in which these principles operate, including the constitutional considerations and the separation of powers.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
The key aspects of the income tax law which cover:
Residence and source and the related elements of international tax
Assessable income
Deductions, including general, specific, and decline in value
Tax rebates and offsets
Tax accounting
Income test definitions that include reportable superannuation and FBT
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
The key aspects of principles and application the following for individual taxpayers:
CGT
FBT
ETP rules
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Explain the basic concept of GST.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Identify the inclusions in the administrative aspects that apply to the taxes discussed.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Explain the specific and the general anti-avoidance tax rules for individual.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What are the key sources of information and data you could access and use to calculate taxable income?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Identify the organisational policies and procedures which relate to the preparation of tax documentation for individual taxpayers and discuss their key features.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Reflect the key accounting principles and practices which are relevant to of tax documentation for individual taxpayers.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
practical activity
The following task must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work/ simulation and include access to:
Office equipment, technology, software and consumables required to prepare non-complex income tax documentation for individuals, including:
Access to the internet
Digital systems and programs for preparing and lodging tax returns
For this task you are to undertake the following activity to demonstrate your ability to prepare tax documentation for individuals.
Please refer to the case study and answer the following questions. Wherever written answers are required, you must explain in 80-100 words each.
Why is consulting with Robert and Amber, and determining their tax documentation preparation requirements important before taking any other steps?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Where you can research to identify and critically evaluate any updates or additions to the compliance requirements which are relevant to your client circumstances, and to establish any recording and reporting requirements?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Using authoritative sources, gather current data, and identify and consult with the client to resolve any outstanding information requirements. Using the information provided in the Case Study, complete two (2) separate forms for Robert and Amber as per the organization’s policy and procedure. (Attach the screenshot or a file below)
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Identify, and record, the assessable income and allowable deductions. Using the information provided, complete the Income Worksheet by calculating the interest for both Robert and Amber. (Refer to additional information file)
Attach the screenshot or whole file below.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Accurately complete and record the required amounts on the documentation, according to organisational and legislative requirements. Also complete the Taxpayer Deductions Worksheet for Robert and Amber. Refer to case study and attached policies and procedures to know about the requirements. (Worksheet has been uploaded in v-learn. Attach your screenshot or a whole file below.)
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Identify if there are any discrepancies or unusual features in your client’s information, and conduct research to resolve these, or refer them to the designated authority. If no discrepancies and unusual features are seen, only discuss how do you handle them and whom do you refer to in order to solve them.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
If you identify any accrued or prepaid income and expenditure, how do you treat them? Also discuss about recording adjustments to the value of assets and liabilities.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
According to legislative requirements and industry-accepted information gathering practices, calculate client’s tax obligations and prepare the required documentation within established timeframes, ensuring that it complies with Australian taxation law and ATO rulings, accounting principles and practices as well as the organisational policies and procedures. (Download the Tax Calculation Sheet and calculate the tax obligations that are payable or the refund due to both Robert and Amber.
Enter the total payment summary amount for each client and the total deductions from the Taxpayer Deductions Information.) Refer to additional information file.
(Worksheet has been uploaded in v-learn. Attach your screenshot or a whole file below.)
To calculate tax on Taxable Income, enter the taxable income amount into the ATO Simple Tax Calculator selecting the year 2016-2017 and resident for full year.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
If required, whom do you seek advice and guidance from to evaluate and moderate decision processes? Give few examples of specialist.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Why is discussing and confirming the documentation with Robert and Amber and obtaining their signature, authorisation and endorsement, and ensuring legislative requirements are met or not is considered important during handling these processes?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Why is it important to submit required documentation for Robert and Amber to the ATO within the established timeframes? What penalties might be applied if we fail to do so?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What type of advice do you provide to your client about their current tax obligations and expected future taxation authority?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Why is it important to respond to tax office enquiries and meet taxation audit requirements, in timely manner? Also discuss why do they make enquiries and what do they generally check?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Questions
The following questions may be answered verbally with your assessor or you may write down your answers. Please discuss this with your assessor before you commence. Short Answers are required which is approximately 4 typed lines = 50 words, or 5 lines of handwritten text.
Your assessor will take down dot points as a minimum if you choose to answer them verbally.
Answer the following questions either verbally with your assessor or in writing.
What method should be used to determine a client’s tax documentation preparation requirements, and to resolve outstanding information requirements?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Where can you source information to determine the tax preparation requirements of your client?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Outline at least five of the questions you might ask when identifying a client’s assessable income and allowable deductions.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
List six examples of the types of changes you might identify when conducting research into the updates or additions to compliance requirements, as relevant to client circumstances.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
List four amounts that may need to be completed and recorded on an individual’s tax return.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What might cause discrepancies, or unusual features, in taxation documentation? Provide at least three examples.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What will need to be done if you identify accrued or prepaid income and expenditure?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Outline the process to be followed for calculating a client’s tax obligations, so you can prepare the required documentation with the required timeframe.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Outline three examples of the timeframes required for the lodgement of prepared tax documentation.
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What specialist advice and guidance might you seek from specialists during the process?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
Why is it essential for you to discuss and confirm the documentation with the client, prior to obtaining their signature, authorisation and endorsement?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What are the consequences for failing to submit required documentation to the ATO, within the established timeframes?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES:
What will you need to advise your client of after the lodgement of individual tax documentation?
Assessor Use
Only: SATISFACTORY
? UNSATISFACTORY
? NOTES: