FNSACC512 - Prepare Legally Compliant Tax Returns Assignment

Assignment Task

Overview

This unit describes the skills and knowledge required to prepare non-complex income tax returns for individuals in line with statutory requirements. It encompasses gathering and verifying data, calculating taxable income, and reviewing compliance requirements.

Questions

1. Who would you consult if you required advice and guidance to determine any income tax related issues?

2. Using the Excel template provided by your firm, calculate Destiny's net tax payable or refundable for the 2019/20 tax year. Clearly show all workings for each component of your calculation.

3. What website did you refer to, in order to gain guidance the taxation of redundancy payments?

4. What information is missing for you to be able to calculate Dave's net tax payable or refundable for the 2019/20 tax year?

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