Unit of competency Outline

Date retreived
23/07/2026 11:17 PM AWST

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Prepare tax documentation for individuals

Prepare tax documentation for individuals

Unit of competency
National Code
FNSACC522
State Code
OEB73
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080101 - Accounting
Original Release Date
07/12/2022
Nominal Hours
70
Description
This unit describes the skills and knowledge required to prepare income tax returns for individuals in line with statutory requirements. It involves gathering and verifying data, calculating taxable income, and reviewing compliance requirements.The unit applies to individuals who use systematic approaches and 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 the education requirements of the Tax Practitioners Board (TPB). Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Gather client income data and verify client, organisational and legislative requirements
  • 1.1 Consult with client to determine tax documentation preparation requirements
  • 1.2 Conduct research to identify updates or additions to tax compliance requirements according to client circumstances
  • 1.3 Gather current data from authoritative sources, and identify and resolve outstanding information requirements through consultation with client
  • 1.4 Identify assessable income and allowable deductions
  • 1.5 Complete and record amounts according to legislative requirements
  • 1.6 Identify any tax issues and conduct research to resolve, or refer to designated authority
2. Identify, record and present client’s income tax documentation
  • 2.1 Calculate client’s tax obligations according to legislative requirements and industry-accepted information-gathering practices
  • 2.2 Prepare required documentation according to statutory and organisational procedures and within established timeframes
  • 2.3 Evaluate and moderate decision processes as required by seeking advice and guidance from specialists
  • 2.4 Discuss and confirm documentation with client and obtain client signature, authorisation and endorsement, according to legislative requirements
3. Manage client’s income tax documentation
  • 3.1 Prepare submission to Australian Taxation Office (ATO) according to ATO submission requirements
  • 3.2 Advise client of current tax obligations
  • 3.3 Respond to ATO enquiries and meet tax audit requirements, as required
No information
No information
Replaces
State Code National Code Title Type
BBH89 FNSACC512 Prepare tax documentation for individuals Unit of competency