FNSPAY511 - Process salary packaging arrangements and additional allowances in payroll

Unit code: FNSPAY511 | Study level: TAFE
Nominal hours
55
Location
Footscray Nicholson
Prerequisites
N/A
Overview
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Overview

This unit describes the skills and knowledge required to process salary packaging arrangements and additional allowances for employees in payroll systems. This includes analysing an organisation’s salary packaging and additional allowance arrangements, assisting employees to interpret prepared arrangements, and issuing payment summaries.
The unit applies to individuals who, within their level of authority, use established payroll systems, systematic approaches and analytical techniques to prepare data, calculate and verify payments, and ensure compliance with regulatory requirements.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each units learning outcomes & performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

  • process salary packaging arrangements and additional allowances in payroll, each on at least three occasions.
    In the course of the above, the candidate must:
  • confirm compliance of salary packaging arrangements and additional allowances with applicable regulatory requirements and organisational policies and procedures.

Students will also be expected to demonstrate the following knowledge:

  • legislative, regulatory and taxation system requirements relevant to salary packaging arrangements, additional allowances and issuing income statements using Single Touch Payroll
  • benefits and costs to organisations and employees of salary packaging arrangements
  • items to be included in salary packaging options, including:
  • impact of options on assessable income
  • employment conditions
  • different arrangements for salary packaging, including:
  • gross salary plus benefits
  • total employment costing
  • common benefits that can be included in salary packaging arrangements, including:
  • fringe benefits
  • exempt benefits
  • concessional benefits
  • novated lease arrangements
  • purchased leave arrangements
  • superannuation contributions
  • common types of additional allowances, including:
  • car allowances
  • living away from home allowances (LAFHA)
  • external and organisational sources that can be accessed for additional information on salary packaging arrangements and additional allowances
  • organisational requirements and methods for issuing income statements using Single Touch Payroll
  • required sources of information for identifying additional allowances, including:
  • employment contracts
  • salary sacrifice agreements
  • novated lease agreements
  • purchased leave agreements
  • organisational policies and procedures.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by Victoria University and/or via the Victoria University e-Learning system.

As part of a course

This unit is studied as part of the following course(s):

Payroll Administrator Skill Set
FNSSS00012 | Non-award course | Duration: 6 months

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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