SMSF Foundations On-Demand Series 2020-21


This SMSF foundations series recognises that navigating Australia’s superannuation system can be complex. It is important to know and understand the SMSF rules so that you can be equipped to find the opportunities and develop the right solutions for your clients.

Whether you are starting your career in superannuation or you are an experienced professional looking for a refresher, this SMSF foundations series will look at several areas in superannuation that are crucial for understanding. 

Topics can be purchased as a discounted series and all sessions are recorded, so you can learn on-demand. 

Topics will be released each quarter. You will be sent a recording link and supporting materials when each new topic is available. 


Sessions are a minimum of 1 hour each (minimum 5 CPD hours for the year) and will cover the following foundations topics: 

  1. SMSF: Superannuation essentials 
  2. SMSF: Superannuation contributions 
  3. SMSF: Investment rules 
  4. SMSF: Accessing superannuation (Benefits) 
  5. SMSF: Administration and audit


Session 1 SMSF Foundations 2020: Superannuation Essentials (August 2020, theory) In this SMSF Essentials module, the following topics will be covered: 

  • The Australian retirement income system – the three pillars.
  • What is superannuation and the different types of superannuation funds in Australia .
  • The Governing rules of a self managed superannuation fund, what’s included and how they operate alongside the superannuation laws.
  • The rules that define a self managed superannuation fund.
  • The reasons why people set up a self managed superannuation fund.
  • The rules about who can provide advice on self managed superannuation funds.
  • An overview of the key considerations for a self managed superannuation fund.


Session 2 SMSF Foundations 2020: Superannuation Contributions (November 2020, theory) In this Contributions module, the following topics will be covered: 

  • What a superannuation contribution is. 
  • When a contribution is considered received by the superannuation fund. 
  • The rules governing when a superannuation trustee can accept a contribution from or on behalf of a fund member.
  • The various contribution caps, how they operate and apply to an individual.
  • Total superannuation balance and the interaction with contribution caps.
  • The contribution reporting requirements for an SMSF trustee.


Session 3 SMSF Foundations 2020: Investment rules (December 2020, theory) In this Investment rules module, the following topics will be covered:

  • The requirements of an Investment Strategy.
  • Recording ownership of fund investment and assets.
  • The importance and relevance of investment rules contained with an SMSF trust deed.
  • The application of the sole purpose test for SMSF investments.
  • The investment rules for an SMSF under the superannuation law.


Session 4 SMSF Foundations 2021: Accessing superannuation (Benefits) (March 2021, theory) In this Accessing superannuation module, the following topics will be covered: 

  • When and how a fund member can access their superannuation entitlements.
  • Early release of superannuation benefits.
  • Types of income streams.
  • The Transfer Balance cap.
  • Lump sum benefit payments.
  • Tax treatment of income streams and lump sum benefit payments.
  • Exempt current pension income (ECPI).


Session 5 SMSF Foundations 2021: Administration and audit (June 2021, theory) In this Administration and Audit module, the following topics will be covered: 

  • Recording fund transactions. 
  • Preparing annual financial statements for an SMSF. 
  • Member statements. 
  • SMSF annual return. 
  • Taxation of SMSFs. 
  • SMSF audit 
  • Winding up an SMSF 
  • Converting an SMSF to a Small APRA Fund (SAF)


Learning Outcomes:

Session 1 SMSF Foundations 2020: Superannuation Essentials (August 2020, theory) Upon completion of this module participants will be able to: 

  • Explain the three pillars of the Australian retirement income system; 
  • Define the different types of superannuation fund structures available in Australia.
  • Compare the Trust Deed requirements of an SMSF with the relevant superannuation laws and analyse which prevails over the other in different scenarios.
  • Define the requirements for a superannuation fund to be a self managed superannuation fund under the superannuation law.
  • Evaluate the various reasons why people establish a self managed superannuation.
  • Demonstrate what type of superannuation advice services require specific licensing and who can provide such advice.
  • Assess the key considerations of a self managed superannuation fund.


Session 2 SMSF Foundations 2020: Superannuation Contributions (November 2020, theory) Upon completion of this module participants will be able to: 

  • Explain what a superannuation contribution is.
  • Compare the different methods of making a contribution and differentiate the timing outcomes of each method.
  • Define the rules that allow a superannuation trustee to accept a contribution from or on behalf of a member
  • Define the various contribution caps and demonstrate their application
  • Define total superannuation balance
  • Evaluate the effect of a member’s total superannuation balance on various contribution caps
  • Identify the fund contribution reporting requirements 


Session 3 SMSF Foundations 2020: Investment rules (December 2020, theory) Upon completion of this module participants will be able to: 

  • Demonstrate how an SMSF trustee satisfies the Investment Strategy requirement under the superannuation law 
  • Explain the requirements for fund asset ownership 
  • Differentiate between investment rules in an SMSF’s trust deed and the superannuation law 
  • Evaluate how the sole purpose test applies to an SMSF trustee’s investment making decisions 
  • Describe the investments rules under the superannuation law that applies to an SMSF 


Session 4 SMSF Foundations 2021: Accessing superannuation (Benefits) (March 2021, theory) Upon completion of this module participants will be able to: 

  • Identify when an individual can access their superannuation benefits
  • Differentiate the types of income streams that can be paid from an SMSF
  • Assess the effect of the Transfer Balance Cap
  • Explain how a lump sum benefit is treated
  • Compare the tax treatment of pension and lump sum benefit payments
  • Analyse the methods for an SMSF claiming exempt current pension income 


Session 5 SMSF Foundations 2021: Administration and audit (June 2021, theory) Upon completion of this module participants will be able to: 

  • Explain the requirements for recording fund transactions
  • Define the requirements for preparing annual financial statements for an SMSF 
  • Evaluate the contents of annual Member Statements
  • Recognise the purpose of the SMSF annual return
  • Describe how the net income of an SMSF is determined
  • Explain the SMSF audit process
  • Analyse the process for winding up an SMSF 
  • Asses the option of converting an SMSF to a Small APRA fund (SAF)

Looking to take the next step? Our Special Superannuation Topics will take your knowledge to the next level. 

Superannuation Essentials 
This session provides an introduction to the Australian superannuation system and is the first module in a series that focuses on the compliance and taxation of self managed superannuation funds (SMSFs). Topics for this session include: 
  • The Australian retirement income system – the three pillars.
  • What is superannuation and the different types of superannuation funds in Australia.
  • The Governing rules of a self managed superannuation fund, what’s included and how they operate alongside the superannuation laws.
  • The rules that define a self managed superannuation fund.
  • The reasons why people set up a self managed superannuation fund.
  • The rules about who can provide advice on self managed superannuation funds.
  • An overview of the key considerations for a self managed superannuation fund.



Superannuation Contributions 
Contributions of cash and other assets into superannuation has always been an important part of accumulating retirement wealth. With rules 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. Topics for this session include: 
  • What a superannuation contribution is. 
  • When a contribution is considered received by the superannuation fund. 
  • The rules governing when a superannuation trustee can accept a contribution from or on behalf of a fund member.
  • The various contribution caps, how they operate and apply to an individual
  • Total superannuation balance and the interaction with contribution caps.
  • The contribution reporting requirements for an SMSF trustee 


Investment rules
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. Topics for this session include: 
  • The requirements of an Investment Strategy 
  • Recording ownership of fund investment and assets 
  • The importance and relevance of investment rules contained with an SMSF trust deed 
  • The application of the sole purpose test for SMSF investments 
  • The investment rules for an SMSF under the superannuation law 


Accessing superannuation (Benefits) 
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. Topics for this session include: 
  • When and how a fund member can access their superannuation entitlements.
  • Early release of superannuation benefits · Types of income streams.
  • The Transfer Balance cap.
  • Lump sum benefit payments.
  • Tax treatment of income streams and lump sum benefit payments.
  • Exempt current pension income (ECPI) 


Administration and audit 
Topics for this session include: 
  • Recording fund transactions. 
  • Preparing annual financial statements for an SMSF. 
  • Member statements. 
  • SMSF annual return. 
  • Taxation of SMSFs. 
  • SMSF audit
  • Winding up an SMSF 
  • Converting an SMSF to a Small APRA Fund (SAF)

EVENT DETAILS


Topic: Financial Advisory and Superannuation

Sub-Topic: Superannuation

Format: Recorded Webinar

Proficiency Level: Foundation, Intermediate

CPD: Upto 5 hours