We start the day with a technical update, providing insights into the latest policy, legislative and regulatory issues impacting the SMSF sector.  The session will explore implications of contribution cap changes from 1 July 2024, the current state of play on the use of e-signing across SMSF documents, a number of Treasury consultations including the discussion paper of retirement incomes, ATO updates across the SMSF segment and a number of recent case law decisions.

Attendees will also be provided with a copy of a workbook from this session that provides more details on many of the topics discussed in this session.

Duration: 75 mins

The proposed Division 296 tax laws will have a significant impact of high balance members within SMSFs from 1 July 2025.  Whilst the measures aren’t yet law, the limited amount of time for potential restructuring of your SMSF clients means that understanding and analysing these laws now is crucial.

In this session, using our case study of the Malthouse family and Little Brewers Super Fund, we explore the various components of these laws including changes to the Total Super Balance (TSB) rules, including exploring what ‘best practice’ looks like to determine the termination value of a member’s superannuation interest.  In addition, we’ll be exploring the nuances impacting LRBAs within these laws, along with those in the event of disability and the death of a member.  We will dive into the workings of the measures for determining any Div. 296 tax liability, and helping you to assess the pros and cons of making changes to your SMSF client’s position.

This session will include activities for attendees to work through to better understand the impact of these laws.  We will also be sharing a number of additional tools for attendees to utilise with your SMSF clients around the Division 296 tax laws.

Duration: 90 mins

The ATO’s views on no-arm’s length arrangements has significant challenges within the SMSF industry, from both an income and expenses stand point.  In this session, both Aaron and Tim look at the impact of the Commissioner’s views within LCR 2021/2, exploring the implications for both general and specific expenses – to help understand the nuances of these rules, we explore the different trustee ‘hats’ being worn under the SMSF definition to understand when and how the NALI rules may apply.  In addition, we explore the implications from a CGT and NALI view point, with the ATO’s draft ruling TR 2023/D1 and provide a number of example as to how the NALI rules would be invoked, including with the operation of the market substitution rules.

This session will include a number of activities for attendees to work through to help them understand the various topics that we cover.

Duration: 90 mins

Our final session of the day explores a number of succession and estate planning issues that are continuing to provide challenges for older trustees/members of SMSFs.  In this session, both Tim and Aaron will explore the importance of building an exit plan for the fund, and why the Government is wants to consider incorporating the retirement income covenant for SMSFs.  We will be discussing the important aspect of structuring the fund for the later stages in life and implications in the event of death, using a number of case studies to highlight some of the common problems. Tim and Aaron will also spark up a debate on reversionary vs non-reversionary pensions (one side each), and help you to explain the steps required to make changes to existing pensions where required (without ceasing the pension).

A number of activities will be included in this session to better understand many of the topics raised around succession and estate planning.

Duration: 80 mins