Our smarter smsf technical training day returns face-to-face around Australia in July and August.

Latest intel on SMSFs

The first session of the day will take an in-depth look at the latest technical, policy and regulatory issues impacting the SMSF sector.  This session will explore (but not be limited to):

• Reviewing Government policy for matters impacting SMSFs post-election.
• Exploring the current state of play with the non-arm’s length expenditure (NALE) requirements from 1 July 2022.
• Understanding the latest requirements with the Government’s approach to the technology neutrality laws, including electronic execution, and dealing with record keeping requirements under the SIS laws.
• Explore the changing requirements for companies under the director ID laws and how they impact SMSFs.
• The impact of the ECPI red tape measure changes in the context of completing the 2021-22 financial statements and SMSF Annual Return.
• Update on the latest ATO regulatory matters, including proposed amendments to TBAR requirements for SMSFs, SuperStream requirements, recent guidance on members who receive benefits in breach of legislative requirements and more.
• Recent case law, including the High Court decision in Hill v Zuda and its impact of SMSF death benefit nominations.

Duration: 90 mins

Exploring contribution opportunities

From 1 July 2022, there are a number key changes to the superannuation laws that open up significant contribution opportunities for your SMSF clients.  In this session we explore (but not limited to):

• Impact on the removal of the work test for voluntary contributions, including how the timing of contributions applies in the lead up to age 75 for bring-forward rule purposes.
• What is expected where a member intends on claiming a tax deduction for super contributions under the revised super and income tax laws.
• How strategies expand for downsizer contributions with the reduction of the qualifying age to 60 years and over.  We will also explore how this strategy can interact with other contribution strategies to maximise contribution opportunities into super.
• When it may be appropriate to use with the First Home Savers Super Scheme (FHSSS) and strategies that can be used to leverage the increase to $50,000 as a release amount.
• Opportunities through unused catch up concessional contributions.

To further understand information from this session, attendees will also work through a case study to help identify opportunities to apply back in practice with your SMSF clients.

Duration: 80 mins

Why all the fuss with SMSF investment strategies?

This has become a significant focus of the regulator to ensure that trustees appropriately formulate, manage and regularly review their fund’s investment strategy.  What does it all mean, and what role can you play in helping trustees to meet the compliance requirements of their SMSF investment strategies? It’s no longer a case of ‘tick & flick’ and ‘set and forget’ – the goal posts have changed.

In this session, we explore a number of areas including (but not limited to): 

• How you must demonstrate each of the requirements of an SMSF investment strategy (as outlined within SISR 4.09).
• Understanding the ATO’s published guidance on investment strategies and its impact in meeting the SIS regulations.
• What other regulatory lessons we can utilise in developing best practice for investment strategies.
• What the expectations are in conducting regular reviews of a fund’s investment strategy, including how and when you need to document such reviews.
• What involvements can and can’t you have in dealing with investment strategies – whether you’re licensed or not to provide advice.

Duration: 60 mins

Dealing with Aging SMSF clients

The ATO statistics on SMSF shows that more than 1 in every 5 members of an SMSF is now 70 years of age or older. With this cohort of members having significant larger balances than the average member balance, it provides some important planning and succession considerations, in particular in the event of incapacity or a member’s death.

In this session, we unpack many of these important issues and explore a number of areas including (but not limited to): 

• Succession and control within a SMSF – who to hand it over to (the role of attorneys), meeting the requirements of section 17A, deed and constitution considerations, whether a guardian may be appropriate and more.
• Exploring estate planning matters, including who is a SIS dependant to pay death benefits, the options in paying death benefits (incl. any DBNs), procedural aspects for super death benefits being paid from a SMSF, including LPRs as replacement trustee (where relevant).
• The payment of death benefit super income streams – look at the structuring pensions, such as implications of reversionary vs. non-reversionary pensions, the level of reversionary, alterations to existing income streams, transfer balance cap considerations and more.
• What impact any decisions around super death benefits have on fund assets
• What alternatives may need to be considered, including decisions to wind up the SMSF.

This session will include time for a case study to be completed with other attendees at the event.

Duration: 100 mins