Unit of competency Outline
Date retreived
23/07/2026 11:38 AM AWST
23/07/2026 11:38 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.
Prepare government returns and reports
Prepare government returns and reports
Unit of competency
National Code
FNSRTS402A
FNSRTS402A
State Code
D4163
D4163
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
30/05/2011
Field of Education
080101 - Accounting
Original Release Date
30/05/2011
Nominal Hours
15
Description
This unit describes the performance outcomes, skills and knowledge required to gather and analyse data to prepare relevant financial and related returns or reports required by government bodies.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Identify requirements for returns
- 1.1. Liaison with appropriate personnel is undertaken to establish type and scope of government return required, and statutory requirements of relevant legislation
- 1.2. All sources of data for return or report and timing requirements are identified
2. Plan for provision of returns
- 2.1. Timelines and procedures are established in order to meet reporting deadlines with lead times set that ensure adequate time is available and allowance is made for contingencies
- 2.2. Liaison occurs with appropriate personnel to obtain relevant data and information
3. Calculate liability in accordance with government guidelines
- 3.1. Data in relation to liability are reviewed and analysed and spreadsheets prepared as applicable
- 3.2. Data provided is verified to ensure it satisfies obligations in regard to organisation policies and procedures and compliance and regulatory requirements
4. Prepare return document
- 4.1. Proforma supplied by government departments is completed in an accurate, timely and thorough manner
- 4.2. Documents or reports are forwarded to appropriate personnel for consideration and clearance within the specified timeframe
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.
Appropriate personnel may include:
accounting and investment personnel
product and business unit managers and other organisational staff.
Government returns may include:
documentation required by government in relation to a range of government charges and taxes such as:
Goods and Services Tax (GST)
Business Activity Statements (BAS)
returns or reports required by the Australian Bureau of Statistics (ABS) and prudential supervisors (FINCOM, the Reserve Bank)
returns required by Australian Prudential Regulation Authority (APRA) regulated entities including:
code of practice compliance report
Quarterly Financial Reporting
Financial Transactions Reporting.
Relevant legislation and codes of practice may include:
consumer:
Australian Securities and Investments Commission (ASIC) guidelines, polices and reporting requirements
industry codes of practice
Consumer Credit Code
Privacy Act.
competition:
Australian Competition and Consumer Commission (ACCC)
prudential:
Anti-Money Laundering and Counter Terrorism Financing Acts
Bills of Exchange Act
Cheques and Payment Orders Act
Commercial Tenancies Act
Corporations Law
Electronic Funds Transfer (EFT) Code of Conduct
Financial Institutions (FI) Code
Financial Transaction Reports Act
Land Tax Assessment Act
Payroll Tax Assessment Act
Prescribed Payments Act
Stamp Duties Act
Taxation Assessment Act.
The organisations policies and procedures may include:
specific policies and procedures on the format of returns and reports and requirements for reporting.
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.
Appropriate personnel may include:
accounting and investment personnel
product and business unit managers and other organisational staff.
Government returns may include:
documentation required by government in relation to a range of government charges and taxes such as:
Goods and Services Tax (GST)
Business Activity Statements (BAS)
returns or reports required by the Australian Bureau of Statistics (ABS) and prudential supervisors (FINCOM, the Reserve Bank)
returns required by Australian Prudential Regulation Authority (APRA) regulated entities including:
code of practice compliance report
Quarterly Financial Reporting
Financial Transactions Reporting.
Relevant legislation and codes of practice may include:
consumer:
Australian Securities and Investments Commission (ASIC) guidelines, polices and reporting requirements
industry codes of practice
Consumer Credit Code
Privacy Act.
competition:
Australian Competition and Consumer Commission (ACCC)
prudential:
Anti-Money Laundering and Counter Terrorism Financing Acts
Bills of Exchange Act
Cheques and Payment Orders Act
Commercial Tenancies Act
Corporations Law
Electronic Funds Transfer (EFT) Code of Conduct
Financial Institutions (FI) Code
Financial Transaction Reports Act
Land Tax Assessment Act
Payroll Tax Assessment Act
Prescribed Payments Act
Stamp Duties Act
Taxation Assessment Act.
The organisations policies and procedures may include:
specific policies and procedures on the format of returns and reports and requirements for reporting.
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:
accurately prepare government financial returns in accordance with relevant legislation, codes of conduct and organisation's procedures and timeframes
interpret and comply with relevant legislation
develop accurate reports that meet legislation and organisational quality specifications.
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
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
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:
accurately prepare government financial returns in accordance with relevant legislation, codes of conduct and organisation's procedures and timeframes
interpret and comply with relevant legislation
develop accurate reports that meet legislation and organisational quality specifications.
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
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS95 | FNSRTS402 | Prepare government returns and reports | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D702 | FNS30111 | Certificate III in Financial Services | Qualification |
| S693 | FNS30110 | Certificate III in Financial Services | Qualification |