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SMSF 2021 Workshop

Advanced Audit & Compliance Training

Recorded 7, 14, 21 April

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EImage SMSF19

"This workshop is fantastic. Nothing to improve.”

2019 Perth Workshop attendee

Implications of the TBC indexation increase to $1.7m
Non-arm's length income expenses in detail
SMSF Property development problem areas
COVID-19 and contraventions

SMSF 2021 presents real life scenarios that you are likely to face in your SMSF work, together with the solutions to manage and overcome the issues presented. Plus, build the depth of your knowledge by being involved in the group discussion exploring the different treatment options available and their likely outcomes.

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2021 Hot Topics

  • Transfer balance cap indexation increase to $1.7m from 1 July 2021 and how this will affect members with a transfer balance account not fully utilised
  • Non-arm's length expenses – what to be aware of so client’s don't get caught under these new rules
  • The work test requirement changes
  • Practical issues with 6 member funds
  • COVID-19 relief and ensuring the agreement will not result in fund contraventions
  • Working with the updated ATO guidelines for contraventions
  • Property development within an SMSF and the problem areas

What we cover

SMSF 2021 presents real life scenarios that you are likely to face in your SMSF work, together with the solutions to manage and overcome the issues presented. Plus, build the depth of your knowledge by being involved in the group discussion exploring the different treatment options available and their likely outcomes.

The ever-changing landscape

  • Work test changes
  • Increase SMSF membership to 6
  • Key ATO compliance areas and what attracts the regulator’s attention
  • Increase in access to bring forward rules and how this may impact your contribution strategies in place

In-house assets

  • Related unit trust red flags - the rapid increase in the establishment and use of related unit trusts and the scrutiny they are now under
  • 50/50 trusts - are they actually allowed?
  • New investments in related unit trusts - what the ATO states you can and can’t do
  • Related party rules
  • Trustees responsibilities when a breach occurs

Key SMSF administration issues

  • Pension structuring and documentation - it’s all in the paperwork
  • When can a member take a Lump sum benefit payments – 50% minimum reduction
  • Reactive vs. Proactive SMSF planning
  • Changes to SMSF rollovers and release authorities

Key documentation included

  • Current audit plan
  • Current audit program
  • Suggested engagement and management letters

Structuring issues for SMSFs

  • Asset segregation - what your clients are still allowed to do
  • Identifying and planning for structuring issues before they occur
  • Joint ownership of assets - a resurgence of interposed trusts and companies to manage contribution restrictions
  • SMSF Residency issues and how to overcome them

SMSF strategies

  • Downsizer contributions
  • Unused concessional carry forward contributions
  • Member balance equalisation
  • When should client’s commence an account based pension and impacts if TBC is indexed

ATO activity

  • New auditor independence guidelines
  • Early Release of superannuation integrity and compliance
  • Events Based Reporting – make sure your clients are up to date!
  • SMSF Market valuations

Our presenters

RayItaoui-Round

Ray Itaoui
Director, Hayes Knight
 

 

 

 

Natalie Scott R

Natalie Scott 
Superannuation Adviser, Knowledge Shop 

Ray is a Director of accounting firm Hayes Knight and a registered SMSF Auditor with extensive experience in the audit, accounting and administration of superannuation funds.

Ray has expanded Hayes Knight’s Superannuation Division considerably over the last few years. As the head of the SMSF division, he has developed and implemented the processes and procedures to create an efficient, accurate and proactive SMSF compliance, administration and audit service. In addition to his work with Hayes Knight, Ray also heads Hayes Knight’s SMSF audit and administration outsourcing company, Superssentials Pty Ltd.

Ray is that rare breed of person who is not only practical but detail conscious with an in-depth understanding of the impact of the regulatory environment faced by the profession.

Before joining Hayes Knight, Ray was in management roles with Knowledge Shop and Dixon Advisory

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Natalie 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 (and wants!).

She has led the SMSF divisions of mid and second tier firms and understands SMSFs from the ground up – accounting, tax, structuring and advice. At Knowledge Shop, Natalie is an advisers’ 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.

Investment

Need group rates? Call (or email) Lee Marshall on 0434 067 133.

Members

Per person access to the online series of 3 recordings for 3 months + reference notes

  • AU $420 (GST Incl.) per person
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Non-Members

Per person access to the online series of 3 recordings for 3 months + reference notes

  • AU $499 (GST Incl.) per person
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Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided once a participant has accessed the training.