FNSACC601 Prepare and administer tax documentation for legal entities
Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0
19
entities such as companies, trusts, partnerships and sole traders including:
o
The rules and principles of Australian tax law,
with an understanding of the legal environment in
which these principles operate, basics of the legal
system, constitutional considerations and
separation of powers
o
The key aspects of income tax law covering
concepts of residence and source, related
elements of international tax, assessable income,
deductions, tax rebates and offsets, and tax
accounting
o
The key aspects of taxes that extend the ordinary
income tax base, including relevant principles and
application of the capital gains tax (CGT) and
fringe benefits tax (FBT) rules
o
Goods and services tax (GST)
o
Taxation aspects of superannuation law
o
Administrative aspects of the taxes identified
above including documentation, tax collection and
withholding mechanisms, assessments,
obligations, rulings, penalties and audits
o
Specific and general anti-avoidance tax rules
Describe the key sources of information and taxable transactions data required to calculate
taxable income, including:
o
Allowable deductions
o
Capital gains
o
Financial adjustments such as write-offs and
revaluations
o
Income
FNSACC601 Prepare and administer tax documentation for legal entities
Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0
20
o
Payments
o
Purchases
o
Superannuation payments
Describe the key features of organisational policy and
procedures relating to the preparation of tax
documentation for legal entities
Outline the key accounting principles and practices
relevant to the preparation of tax documentation for the
different types of legal entities
Feedback to Learner:
Assessor’s Signature:
Date:
FNSACC601 Prepare and administer tax documentation for legal entities
Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0
21
SHORT ANSWER QUESTIONS
Instructions
Answer the questions below by writing in the space provided. If you require more space, use a
blank sheet of paper. Alternatively, you may like to use Microsoft Word and print out your
answers to each question.
What you will need
Research materials such as books, internet, magazines, workplace documentation etc.
Access to legislative and regulatory documentation
Your Learner Guide for this unit of competence
Suggested Word limit
Short Answer
Responses
4 typed lines = 50 words, or
5 lines of handwritten text
Answer the following questions and submit to your assessor in writing.
