23 May DETERMINE CLIENT’S TAX DOCUMENTATION PREPARATION REQUIREMENTS
FNSACC601 Prepare and administer tax documentation for legal entities
This unit describes the skills and knowledge required to identify taxation requirements for complex lodgements and returns for legal entities. It involves gathering, analysing and processing taxation related data to prepare tax documentation, and to review and apply compliance requirements.
Elements Performance Criteria
1. Identify taxation requirements for complex lodgements and returns 1.1 Identify and confirm suitability of legal entities within client’s organisational structure
1.2 Conduct research to identify updates or additions to compliance requirements relevant to client’s circumstances, and establish recording and reporting requirements
1.3 Determine client’s tax documentation preparation requirements
2. Gather and analyse data relevant to client’s tax position 2.1 Identify and collect client data relevant to tax documentation requirements
2.2 Analyse data to extract relevant tax information and identify any discrepancies requiring verification or research for resolution
2.3 Obtain advice and guidance from specialist to evaluate and moderate decision processes
3. Prepare and present tax documentation 3.1 Calculate client’s tax obligations, in accordance with legislative requirements and information gathering practices
3.2 Prepare tax documentation to comply with relevant Australian Taxation Office (ATO), legislative and organisational recording and reporting requirements
3.3 Present and confirm documentation with clients to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met
4. Lodge tax documentation 4.1 Submit relevant tax documentation to the ATO within established timelines
4.2 Advise client of current tax obligations and that any advice from taxation authorities is to be followed
4.3 Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner
Performance Evidence
Evidence of the ability to:
• research and critically evaluate new or changed legislative requirements and apply where relevant to the preparation of the client’s tax documentation
• provide taxation advice to clients in line with individual requirements
• identify legal entity tax data required to calculate taxable income
• prepare tax documentation for legal entities that complies with:
o Australian taxation law and Australian Taxation Office (ATO) rulings and lodgement schedules
o accounting principles and practices
o organisational policy and procedures
• present tax documentation to the client for verification and approval
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.