On successful completion of the course, students should be able to:

• Identify the different types of superannuation funds that exist and list the advantages and disadvantages of SMSFs
• Explain the requirements to operate an SMSF, including the trustee structure, requirements of the trust deed and a trustee’s responsibilities.
• Explain the different types of contributions that can be made into superannuation and the limitation in making contributions.
• Outline the key requirements of trustees preparing and maintaining a fund’s investment strategy
• Explain the investment restrictions imposed on how a trustee can invest within a SMSF
• Outline the different types of pensions that can be paid from a SMSF and how benefits can generally be paid to a fund member.
• Explain the different statutory requirements that a trustee must adhere to in running a SMSF.

This module covers:

• The regulation of Australia’s superannuation system
• The three pillars of superannuation in Australia
• The different types of super funds that exist in Australia
• The key features and regulation of self-managed super funds
• The definition of a self-managed super fund
• How to establish an SMSF
• The requirements to establish an SMSF

This module covers:

• What is a contribution, the eligibility requirements and how contributions can be made into super
• The types of contributions that can be made
• How a member’s total superannuation balance impacts them making contributions
• The operation of the work test and work test exemption when a member is contributing and intends to claim a tax deduction
• The timing of contributions be made into super
• The contribution caps, the operation of the bring-forward rule and the ability to split contributions with a spouse & dealing with excess contributions

This module covers:

• Creating an SMSF investment strategy
• The requirements of an SMSF investment strategy
• Introducing the Sole Purpose Test
• How an SMSF can invest and acquire assets

This module covers:

• SuperStream and SMSFs
• SMSF quarterly reporting requirements
• SMSF annual reporting requirements
• Member statements

This module covers:

• The preservation rules, preservation age and conditions of release
• How benefits can be paid, including lump sums and super income streams
• An introduction to the Transfer Balance Cap and transfer balance account
• An introduction to Accounts Based Pensions

This module covers:

• What triggers the end of the SMSF lifecycle?
• Understanding death benefit requirements
• Winding up an SMSF during the various lifecycle stages