Course Description

This course describes the performance outcomes, skills and knowledge required to prepare non-complex income tax returns for individuals in accordance with statutory requirements, and encompasses gathering and verifying data, calculating taxable incomeand reviewing compliance.

This course applies to accountants and tax specialists who prepare non-complex tax individual returns.

This course meets the Australian Tax Practitioners Board (TPB) educational requirements for Tax Agent registration and renewal of registration

Skills Covered

This course covers the following key areas:

·Introduction to income tax,

·Assessable income,

·Capital Gains,

·Exempt income and non-assessable non-exempt income,

·Annuities and foreign investments,

·Termination Payments,

·Small business entities,

·Trading stock,

·General deductions,

·Specific deductions,

·Decline in value and capital allowances,

·Tax offsets,

·Income tax returns - individuals, and

·Tax losses.

Accredited Course : FNSACC502B Prepare legally compliant tax returns for individuals