Fnstpb 401 Assessment Guide v1.0 PDF

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FNSTPB401 COMPLETE BUSINESS ACTIVITYAND INSTALMENT ACTIVITY STATEMENTSASSESSMENT GUIDEASSESSMENT INFORMATION for studentsThroughout your training we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into p...

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FNSTPB401 COMPLETE BUSINESS ACTIVITY AND INSTALMENT ACTIVITY STATEMENTS

ASSESSMENT GUIDE

ASSESSMENT INFORMATION for students Throughout your training we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into practical on the job improvements. You are going to be assessed for: 

Your skills and knowledge using written and observation activities that apply to the workplace.



Your ability to apply your learning.



Your ability to recognise common principles and actively use these on the job.

All your assessment and training is provided as a positive learning tool. Your assessor will guide your learning and provide feedback on your responses to the assessment materials until you have been deemed competent in this unit.

HOW YOU WILL BE ASSESSED The process we follow is known as competency-based assessment. This means that evidence of your current skills and knowledge will be measured against national standards of best practice, not against the learning you have undertaken either recently or in the past. Some of the assessment will be concerned with how you apply your skills and knowledge in the workplace, and some in the training room as required by each unit. The assessment tasks have been designed to enable you to demonstrate the required skills and knowledge and produce the critical evidence to successfully demonstrate competency at the required standard. Your assessor will ensure that you are ready for assessment and will explain the assessment process. Your assessment tasks will outline the evidence to be collected and how it will be collected, for example; a written activity, case study, or demonstration and observation. The assessor will also have determined if you have any special needs to be considered during assessment. Changes can be made to the way assessment is undertaken to account for special needs and this is called making Reasonable Adjustment. What if I believe I am already competent before training? If you believe you already have the knowledge and skills to be able to demonstrate competence in this unit, speak with your trainer, as you may be able to apply for Recognition of Prior Learning (RPL). Assessor Responsibilities Assessors need to be aware of their responsibilities and carry them out appropriately. To do this they need to: 

Ensure that participants are assessed fairly based on the outcome of the language, literacy and numeracy review completed at enrolment.

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

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

Ensure that all documentation is signed by the student, trainer, workplace supervisor and assessor when units and certificates are complete, to ensure that there is no followup required from an administration perspective.



Ensure that their own qualifications are current.



When required, request the manager or supervisor to determine that the student is ‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means consistently meeting the standard expected from an experienced operator.



When required, ensure supervisors and students sign off on third party assessment forms or third-party report.



Follow the recommendations from moderation and validation meetings.

How should I format my assessments? Your assessments should be typed in a 11 or 12 size font for ease of reading. You must include a footer on each page with the student name, unit code and date. Your assessment needs to be submitted as a hardcopy or electronic copy as requested by your trainer. How long should my answers be? The length of your answers will be guided by the description in each assessment, for example:

Type of Answer

Answer Guidelines

Long Answer

4 typed lines = 50 words, or 5 lines of handwritten text 8 typed lines = 100 words, or 10 lines of handwritten text = of a foolscap page

Brief Report

500 words = 1-page typed report, or 50 lines of handwritten text = 1foolscap handwritten pages

Short Answer

Mid Report Long Report

1,000 words = 2-page typed report 100 lines of handwritten text = 3 foolscap handwritten pages 2,000 words = 4-page typed report 200 lines of handwritten text = 6 foolscap handwritten pages

How should I reference the sources of information I use in my assessments? Include a reference list at the end of your work on a separate page. You should reference the sources you have used in your assessments in the Harvard Style. For example: Website Name – Page or Document Name, retrieved insert the date. Webpage link. For a book: Author surname, author initial Year of publication, Title of book, Publisher, City, State

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

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ASSESSMENT GUIDE The following table shows you how to achieve a satisfactory result against the criteria for each type of assessment task. The following is a list of general assessment methods that can be used in assessing a unit of competency. Check your assessment tasks to identify the ones used in this unit of competency.

Assessment Method

Satisfactory Result

Non-Satisfactory Result

You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of these to be deemed competent overall. Your assessment may include the following assessment types. All questions answered correctly

Questions

Third Party Report

Written Activity

Answers address the question in full; referring to appropriate sources from your workbook and/or workplace Supervisor or manager observes work performance and confirms that you consistently meet the standards expected from an experienced operator The assessor will mark the activity against the detailed guidelines/instructions Attachments if requested are attached All requirements of the written activity are addressed/covered. Responses must refer to appropriate sources from your workbook and/or workplace

Observation/ Demonstration Case Study

All elements, criteria, knowledge and performance evidence and critical aspects of evidence, are demonstrated at the appropriate AQF level All comprehension questions answered correctly; demonstrating an application of knowledge of the topic case study.

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

Incorrect answers for one or more questions Answers do not address the question in full. Does not refer to appropriate or correct sources. Could not demonstrate consistency. Could not demonstrate the ability to achieve the required standard Does not follow guidelines/instructions Requested supplementary items are not attached Response does not address the requirements in full; is missing a response for one or more areas. One or more of the requirements are answered incorrectly. Does not refer to or utilise appropriate or correct sources of information Could not demonstrate elements, criteria, knowledge and performance evidence and/or critical aspects of evidence, at the appropriate AQF level Lack of demonstrated comprehension of the underpinning knowledge (remove) required to complete the case study questions correctly. One or more questions are answered incorrectly.

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Assessment Method

Satisfactory Result

Non-Satisfactory Result

You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of these to be deemed competent overall. Your assessment may include the following assessment types.

Practical Activity

Answers address the question in full; referring to appropriate sources from your workbook and/or workplace

Answers do not address the question in full; do not refer to appropriate sources.

All tasks in the practical activity must be competed and evidence of completion must be provided to your trainer/assessor. All tasks have been completed accurately and evidence provided for each stated task.

Tasks have not been completed effectively and evidence of completion has not been provided.

Attachments if requested are attached

Requested supplementary items are not attached

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

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ASSESSMENT COVER SHEET Assessment Cover Sheet Unit Code and Name:

FNSTPB401 Complete business activity and instalment activity statements

Student name: Assessor Name:

Student Number: Date Submitted:

The following questions are to be completed by the assessor: Is the Student ready for assessment? Has the assessment process been explained? Does the Student understand which evidence is to be collected and how? Have the Student’s rights and the appeal system been fully explained? Have you discussed any special needs to be considered during assessment?

Yes Yes

No No

Yes

No

Yes

No

Yes

No

S

NYS

S

NYS

S

NYS

The following documents must be completed and attached:  1. Report and Report Checklist The student will complete the report provided to them by the assessor. The Report Checklist will be completed by the assessor.  2. Third Party Activity and Third Party Activity Report Checklist The student will complete the practical activity provided to them by the assessor. The Practical Activity Checklist will be completed by the Supervisor.  3. Short Answer Questions and Short Answer Questions Checklist The student will answer a range of questions with written responses. The Short Answer Questions Checklist will be completed by the assessor.

Student Declaration I agree to undertake assessment in the knowledge that information gathered will only be used for professional development purposes and can only be accessed by the RTO I declare that:  The material I have submitted is my own work;  I have kept a copy of all relevant notes and reference material that I used in the production of my work;  I have given references for all sources of information that are not my own, including the words, ideas and images of others.

Student FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

Date: 6

Signature: Result and Feedback Feedback to Student:

Overall Outcome

 Competent

Assessor Signature:

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

 Not yet Competent

Date:

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1. REPORT Instructions You will need to research information to assist with your responses for this task. What you will need to complete this task  

Research materials such as books, internet, magazines, workplace documentation etc. Access to legislative and regulatory documentation relevant to own state or territory.

You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies. You are required to provide information about the following points. You must prepare a written response to each point, which can be supported by example documentation as required. Ensure material is referenced appropriately. Word limit To complete this activity, you are required to submit a written response of a: Mid Report

Approximately 1,000 words = 2 page typed report

Your task is to research the following topics then outline your findings in a report. Use the questions below as a guide to your research. Your report must discuss carrying out business activity and instalment activity statement tasks. You will need to discuss each of the following questions in your report: 1. What are the research methods used to update knowledge of professional and legislative requirements relating to activity statements and what are the sources of information that you could use during your research? Employees and professionals are constantly being assessed on their knowledge and skills some other professional development ideas: • Reading professional journals, books, research papers, articles etc • Coaching, mentoring, training courses, academic study, conferences and webinars • Voluntary work, fundraising and event management • Research activities, blogging and publishing articles • Training others and giving presentations or speaking at a conference • Spending time with other departments, customers, suppliers, trade bodies or stakeholders • Joining committees, professional associations, campaign groups and participating in industry forums

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

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• Apprenticeships, internships, work shadowing and secondments • Applying for industry awards or scholarships

2. Discuss the key requirements relating to the preparation of activity statements for each of the following: a. Tax Agent Services Act (TASA), including Code of Professional Conduct and civil penalty provisions b. Fringe Benefits Tax Assessment Act c.

A New Tax System (Goods and Services Tax) Act

d. Income Tax Assessment Act e. Taxation Administration Act f.

other taxation laws, including wine equalisation tax, luxury car tax and fuel tax

g. Privacy Act a) Tax Practitioners Board (TPB) approved unit Tax Agent Services Act 2009 (TASA), including the Code of Professional Conduct (Code) which meet the education requirements set out by the TPB for those requiring board approved courses for Tax Agent registration and renewal.

Skills Covered: - The objects of the Tax Agents Services Act 2009 (TASA) - Registration process and eligibility requirements including - The fit and proper person requirement, prescribed qualifications and experience requirements and relevant transitional provisions - The Code of Professional Conduct, including the underlying content of the professional and ethical standards required of registered tax and BAS agents that are contained in the Code in section 30- 10 of the TASA - Administrative sanctions that may be imposed for a breach of the code - Civil penalty provisions including contraventions that apply to the conduct of entities that are not registered tax agents - Civil penalty provisions including contraventions applicable to the conduct of registered agents - The TPB's power to apply to a Federal Court for an injunction - The Tax/BAS agent's obligations to notify the TPB of any change in circumstances To meet part of the qualification requirements for registration as a tax practitioner, you may need to have completed a Board approved course in the Tax Agent Services Act 2009 (TASA), including the Code of Professional Conduct (Code). This TASA, including the Code, unit meets the education requirements of the Tax Practitioners Board for those needing board approved qualifications for Tax Agents. This individual income taxation course provides you with the skills and knowledge

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required to understand the legislation associated with registration as a Tax agent, Tax (financial) Advisers or BAS agent. b) Fringe Benefits Tax (FBT) is a tax payable by employers on benefits provided to employees or associates of employees, in respect of the employee's employment. The definition of employee includes former, current and future employees. FBT also applies where benefits are provided by an associate of an employer or by a third party under an arrangement. C) The GST is levied under the A New Tax System (Goods and Services Tax) Act and related legislation. The GST is a type of indirect tax levied on suppliers of goods and services called an invoice-credit value added tax. The tax at 10 per cent is levied at the point of sale of a good or service at all points of sale through the supply chain. Each supplier must pay GST to the ATO and receives a tax credit for any GST paid on inputs, on evidence of a tax invoice. As a result, each supplier pays the net GST only on the amount of value added by that supplier. Ultimately, the GST is borne by the consumer. D) The Income Tax Assessment Act 1997 that shows the text of the law as amended and in force on 1 January 2019 The notes at the end of this compilation and include information about amending laws and the amendment history of provisions of the compiled law. The effect of uncommanded amendments is not shown in the text of the compiled law. Any uncommanded amendments affecting the law are accessible on the Legislation Register. The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommanded amendments, see the series page on the Legislation Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes E) This is a compilation of the taxation administration act 1953 that shows the text of the law as amended in 24 the august 2017 An Act to provide for the administration of certain Acts relating to Taxation, and for purposes connected therewith. The effect of uncommanded amendments is not shown in the text of the compiled law. Any uncommented amendments affecting the law are accessible on the Legislation Register. The details of amendments made up to, but not commenced at, the compilation date is underlined in the endnotes.

FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0

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The Taxation Administration Act 1997 (TAA) provides the framework for administering land tax (including vacant residential land tax), payroll tax, the duty charged on certain transactions, the congestion levy, the wagering and betting tax, and the commercial passenger vehicle service levy, and the growth areas infrastructure contribution (GAIC). The TAA sets out the framework for assessing, investigating, reviewing, and enforcing Victorian taxes as well as the powers, rights and obligations of both taxpayers and the Commissioner of State Revenue. It includes how to object t...