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Foundations of SMSF 2018: Full Series


Whether you’re starting your career in superannuation or an experienced professional looking for a refresher, this series will look at several areas in superannuation that are crucial for any solid foundation

Content Description

Navigating our superannuation system can be complex. As such, it's important to know and understand the rules so that you can be equipped to find the opportunities and develop the right solutions for your clients.


Whether you're starting your career in superannuation or an experienced professional looking for a refresher, this series will look at several areas in superannuation that are crucial for any solid foundation, including:

  • An introduction to the Australian superannuation system focusing on the taxation of superannuation entities and payments
  • The different types of superannuation funds including SMSFs
  • Superannuation investment rules
  • Understanding the SIS Act and SIS Regulations
  • Pensions and lump sums
  • Super contributions.


Benefits


This series will provide a solid foundation for any young professional and a great refresher for those more experienced in superannuation.

Session One: Superannuation Essentials: Understanding SMSFs

This session provides an introduction to the Australian superannuation system with a focus on the taxation of superannuation entities and the taxation of payments made from superannuation entities. Specifically, the session will examine:

  • The different types of superannuation funds including SMSFs
  • The taxation of superannuation entities, with a focus on SMSFs
  • Concessions in relation to contributions
  • Taxation of benefit payments from superannuation funds
  • Reporting requirements for SMSFs
  • Recent developments and proposed changes.

    • Session Two: Getting money into superannuation - Contributions

      Contributions of cash and other assets into superannuation has always been an important part of accumulating retirement wealth. With changes to contributions around the amount you can contribute as well as the penalties for contributing too much, it is vital that you keep up to date with these developments. Specifically, this session will cover:

      • What is a contribution?
      • Recognising when is a contribution made
      • Who can make a contribution?
      • Concessional contribution and non-concessional contributions including CGT election
      • Excess contributions tax assessments - recent developments
      • In-specie contribution
      • Administrative considerations.

        • Session Three: Superannuation investment rules - Complying with SIS

          SMSFs have the ability to invest in a wide range of assets, including collectibles, in-house assets and business real property. As such, it is important to understand how the SIS Act and SIS Regulations work to guide and manage the investment activities of SMSF trustees and ensure the fund is maintained for retirement purposes. Specifically, this session will cover:

          • An introduction to superannuation investment rules
          • The role of the investment strategy in the superannuation fund
          • The sole purpose test and how the test applies when a superannuation fund is carrying on a business
          • Exotic investments in artwork and collectibles
          • Lending money or providing financial assistance
          • Borrowing and charges over assets including limited recourse borrowing
          • Restrictions on in-house assets and related party transactions
          • Investments in related and unrelated unit trusts and companies.

            • Session Four: Accessing super: SIS provisions, Pensions and lump sums


              Moving from accumulation to pension phase is an important process. As such, having a thorough understanding of how the SIS provisions govern pension and lump sum activities is vital leading up to and during your client?s retirement. Specifically, this session will cover:

              • The types of pensions available
              • The taxation treatment of pensions
              • Starting pension income streams
              • Draw down requirements
              • Pension administrative matters
              • The tax treatment of lump sums
              • How to pay a lump sum
              • Low rate cap considerations.

Ken Mansell Senior Tax & Superannuation Trainer, Chartered Accountants Australia and New Zealand Ken Mansell has worked on tax policy development on the Henry Review, in the office of the Assistant Treasurer and in the Revenue Group of the Treasury, worked in the Tax Division for both KPMG and Deloitte and has been the Taxation Manager for the Seven Network and Raytheon Australia.


Bruce Thomas is currently a Senior Tax Trainer with the Institute of Chartered Accountants Australia, with over 25 years experience in tax.

He has written and presented training on a wide variety of tax topics for in-house clients and for public sessions conducted by the Institute.

Previously a tax manager with William Buck Chartered Accountants in Sydney, he provided advice to clients on the application of the Fringe Benefits Tax, GST and other taxes.


James McPhedran is a Senior Tax & Superannuation Trainer with Chartered Accountants Australia New Zealand. James has 14 years experience in tax and superannuation with 8 years experience in the Self Managed Superannuation Fund industry. Prior to his role at Chartered Accountants ANZ, James worked in a tax and superannuation advisory role with Hayes Knight in Sydney.

James' extensive experience branches across a wide range of industries from mining and energy, to entertainment and professional tax bodies. He has acquired advanced knowledge in tax and superannuation through his work in a variety of tax advisory roles, from international acquisitions and business structuring, to individual and small business taxation matters.


EVENT DETAILS


Topic: Financial Advisory and Superannuation

Sub-Topic: Self-Managed Superannuation Funds

Format: Recorded Webinar

Proficiency Level: Foundation

CPD: 6 hours