Elements and Performance Criteria
- Elements are the essential outcomes of the unit of competency.
- Identify legislative, regulatory and procedural requirements relating to stamp duties
- Up-to-date knowledge is maintained of the range of legislation, regulations, rulings, Commissioner's practices and organisational procedures relating to instruments and transactions that generally attract duties.
- Rates and thresholds that apply to calculation of stamp duties are located and confirmed as current, relative to the liability date.
- Eligibility and liability criteria related to stamp duties are identified and confirmed in accordance with legislation, regulations, rulings and Commissioner's practices to ensure consistency of interpretation and application.
- Exemptions and concessions related to instruments, transactions or organisations are identified and confirmed in accordance with legislation, regulations, rulings and Commissioner's practices.
- Assess stamp duties
- Instruments and transactions liable for duty are identified in accordance with the legislation.
- Instruments and transactions exempt from duty or eligible for concessions are identified in accordance with legislation and explained to customers in accordance with their requests.
- General principles affecting stamp duties are implemented to ensure correct duty is applied.
- Parties liable to pay duty are identified and date of liability is confirmed in accordance with legislation, regulations, rulings and Commissioner's practices.
- Lodgement and due dates are confirmed and any interest or penalties incurred for late lodgement or payment are applied in accordance with legislation, regulations, rulings and Commissioner's practices.
- Rates of duty are applied, assessment is confirmed and decision is recorded in accordance with legislation, regulations, rulings and Commissioner's practices.
- Assess and process enquiries and complaints
- Enquiries and complaints by taxpayers are dealt with, and decisions recorded and notified in accordance with legislation, regulations and organisational procedures.
- If taxpayers are dissatisfied with the decision, their rights to have the decision reviewed are explained in accordance with legislation and organisational procedures.
- Identify legislative, regulatory and procedural requirements relating to stamp duties
- Up-to-date knowledge is maintained of the range of legislation, regulations, rulings, Commissioner's practices and organisational procedures relating to instruments and transactions that generally attract duties.
- Rates and thresholds that apply to calculation of stamp duties are located and confirmed as current, relative to the liability date.
- Eligibility and liability criteria related to stamp duties are identified and confirmed in accordance with legislation, regulations, rulings and Commissioner's practices to ensure consistency of interpretation and application.
- Exemptions and concessions related to instruments, transactions or organisations are identified and confirmed in accordance with legislation, regulations, rulings and Commissioner's practices.
- Assess stamp duties
- Instruments and transactions liable for duty are identified in accordance with the legislation.
- Instruments and transactions exempt from duty or eligible for concessions are identified in accordance with legislation and explained to customers in accordance with their requests.
- General principles affecting stamp duties are implemented to ensure correct duty is applied.
- Parties liable to pay duty are identified and date of liability is confirmed in accordance with legislation, regulations, rulings and Commissioner's practices.
- Lodgement and due dates are confirmed and any interest or penalties incurred for late lodgement or payment are applied in accordance with legislation, regulations, rulings and Commissioner's practices.
- Rates of duty are applied, assessment is confirmed and decision is recorded in accordance with legislation, regulations, rulings and Commissioner's practices.
- Assess and process enquiries and complaints
- Enquiries and complaints by taxpayers are dealt with, and decisions recorded and notified in accordance with legislation, regulations and organisational procedures.
- If taxpayers are dissatisfied with the decision, their rights to have the decision reviewed are explained in accordance with legislation and organisational procedures.