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SMSF Intermediate Online Workshop

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Because the software only does what you tell it

Proposed changes to NALE - how and when they will impact your clients
Understanding indexation of the transfer balance cap and how it impacts your clients
Practical management of complex and unusual assets

A Live Instructor Led Online Workshop

Move beyond the basics of SMSF compliance work.

On the job training will only take you so far and software is only as good as the data it's given. This exceptional workshop is designed to deliver the skills SMSF compliance teams need to identify and manage complex SMSF tax and compliance issues before they become a problem.

The SMSF Intermediate Online Workshop steps through the essential processes and procedures for managing the key elements of an SMSF client’s tax and financial preparation work, brings you up to speed with the latest regulatory changes and methodologies, and identifies the tax and SIS ‘red flags’ that you need to know.

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AU $520 Members
AU $580 Non-members

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Register Team*

AU $1,430 Members
AU $1,595 Non-members

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Knowledge Shop members, login for the discounted rate.

Total 5.75 CPD Hours

Details

Recorded: 5, 12 & 19 September 2023

SMSF Association accredited for a total of 5.75 CPD hours (PETKS230919)

  • 3.25 Regulatory Compliance & Consumer Protection
  • 2.5 Tax (Financial) Advice

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.

*Office Registrations. Maximum 15 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.

What we cover

The SMSF Intermediate Online Workshop is for accountants working with SMSFs that want to extend their knowledge. It provides an essential framework for common SIS compliance and tax issues to help intermediate accountants transition to the next stage.

1

Session 1

w Natalie Scott

The definition of an SMSF and why it matters

  • Definition of an SMSF including the rules for 6 member funds
  • Who can be a member and who should be directors
  • Corporate v individual trustee
  • What happens if an SMSF does not meet the definition
  • Definition of an Australian Superannuation fund and consequences of failing the definition

Financial Statement and Tax Return Preparation

  • Actuarial certificates - when you need them
  • Identifying and tracking in-house assets
  • 2023 tax return updates and common problems
  • Calculating member tax preservation components
  • Market valuations - what is sufficient and when do you need an independent valuation?

Managing deductions

  • Exempt current pension income, segregated assets or proportionate method
  • When does a fund have disregarded small fund assets?
  • Deduction problem areas
  • Member insurance deductions
  • Investment property deductions including borrowing costs
  • Adviser fees, legal and administration costs
  • Managing capital and tax losses in a fund
  • The rules on share trading losses including options
  • Allocating deductions within segregated funds
  • The interaction between GST and deductible expenses
3

Session 3

w Natalie Scott & Chloe Foster

The ‘red flags’ that management expect you to identify and raise.

LRBA rules

  • What is a single acquirable asset
  • Can the fund make improvements

In-house assets

  • Understanding the in-house asset rules including who is a Part 8 associate and why is this important to know
  • What to consider in relation to related party purchases

NALI/NALE

  • Understanding how NALE could potentially apply to administration expenses that are below market rate
  • Safe harbour loans - when can NALI be an issue
  • Related parties performing work for the SMSF and how this could potentially cause NALE to apply

Stay up to date

We’ll bring you up to speed with the 2023 changes including:

  • Proposed changes to NALE, when and how they might apply to your clients in practice
  • Changes to downsizer age and how the age decreases during the financial year can create complexity
  • Understanding which ECPI method should be used for your client and when a choice is available
  • Changes to the First Home Super Saver Scheme
  • Indexation of the transfer balance cap from 1 July 2023
2

Session 2

w Chloe Foster

Contributions

  • When your clients can and can’t make a contribution
  • How much can they make?
  • Applying the non-concessional bring forward rules
  • In-specie transfers and non-cash contributions - what to do with them
  • Excess contributions
  • Contributions tax for high income earners
  • Unused concessional contribution cap and when a member can utilise this
  • Recent work test changes
  • Calculating a member’s total superannuation balance, it isn’t always as easy as identifying their member balance last financial year

Pensions

  • Withdrawing pensions and how to treat excess pension payments
  • Converting transition to retirement pensions to retirement income phase pensions
  • Dealing with segregated funds post 1 July 2018
  • How to meet minimum pension obligations: why it’s important not to get this wrong and ensure clients meet their obligations
  • How to apply the 1/12th rule when the minimum pension has been missed
  • How preservation issues often arise without you knowing: the strict cashing order that must be followed for preservation components
  • Stopping and starting pensions: what needs to be put in place
  • Calculating member balances - part year, market value, TRIS and preserved benefits
  • Withholding obligations
  • What to do when a member dies

Event-based reporting and the transfer balance cap

  • What is event-based reporting and understanding the framework
  • Who is impacted and what you need to look out for
  • When you need to report and a summary of the timeframes
  • How to prepare a transfer balance account report (TBAR) form
  • How event-based reporting changes the way you administer funds
  • Indexation of the transfer balance cap and how to calculate a member's personal transfer balance cap

Our presenters

Superannuation Adviser, Knowledge Shop

Natalie Scott

Natalie ScottNatalie has led the SMSF divisions of mid and second tier firms and understands SMSFs from the ground up – accounting, tax, structuring and advice. She has spent well over a decade immersed in the intricacies of how SMSFs operate, navigating an increasingly complex legislative and regulatory environment, and managing the issues that arise servicing client needs.

At Knowledge Shop, Natalie is an adviser's adviser, helping the profession clarify the practical requirements and opportunities of SMSFs. She brings this knowledge to her presentations and explores the issues in a very practical way – knowledge that is immediately transferable in practice.

Natalie is a Chartered Accountant and a specialist member of the SMSF Association.

Head of Wealth Education and Professional Development, Diverger

Chloe Foster

Chloe WardChloe is a sought-after commentator and presenter on superannuation and risk. She has a way of transforming technical considerations into practical and transferable knowledge for professional advisers. 

She has over 15 years’ experience in the wealth and risk sectors, working with accountants and advisers to build their technical skills and refine how they deliver these services to clients. 

Chloe is a former Associate Director of an SMSF Administration group before building her knowledge in risk with one of Australia’s leading and largest insurers. 

Specialising in superannuation and retirement planning, Chloe is a SMSF Specialist Advisor, holds a Bachelor of Business (Finance), and an Advanced Diploma of Financial Services.