SMSF Specialist Advisor (SSA®)

This suite of self-paced learning modules offer comprehensive technical content and takes you beyond the compliance issues arising from the array of legislation and regulation that underpin the operation of an SMSF.

1. SMSF regulatory framework
   This topic sets the scene for the regulation of SMSFs by providing a summary of the key historical events associated with our superannuation system as well as identifying the purpose of superannuation. It also introduces the key concepts behind the definition of an SMSF that will be explored further throughout this subject.
2. Regulating SMSFs
   The topic identifies the trustee covenants that all trustees must abide by and are deemed to be incorporated into the governing rules of the fund whether they are stated or not.
3. Contributions standards
   This topic provides an outline of the rules about accepting contributions, who can make contributions and the way those contributions can be made. The topic also highlights some of the key contributions that can be made to help members accumulate beyond normal contributions, leading to strategic opportunities.
4. Investing in an SMSF
   The topic analyses the requirements for an SMSF to have an investment strategy in accordance with the trustee covenants and operating standards for investments. It also revisits the concept of the sole purpose test, with a deeper review of what the test requires.
5. Taxing an SMSF
   This topic explores the taxation obligations of an SMSF.  It considers the taxation of ordinary income, taxable contributions, the applicable capital gains tax (CGT) provisions, how foreign transfers are treated and other statutory income.  This topic also identifies income from transactions that are not maintained on an arms-length basis and imposes a higher rate of tax for income that is deemed not at arm’s length.
6. Members interests and preservation standards
   This topic defines an interest is an SMSF and explains the preservation status of a members’ benefit.  The topic also considers the conditions of release that a member must satisfy to access money from their superannuation interest.
7. Payment standards and paying a benefit
   This topic considers the features of a member account and how a member can access their money.  It discusses how money can be taken either as a superannuation lump sum or as a pension and how both lump sum and pension payments are proportioned between taxable and tax-free components.
8. Taxing superannuation payments
   This topic provides the final overlay of taxation on benefit payments. Having identified the components of a member’s interest, the proportioning that applies to benefit payments and the types of benefits that can be paid, the final step is to determine how much tax is to be paid on those benefits.
9. SMSF controls – Planning for life events
   This topic provides the relevant references to paying benefits from a self-managed superannuation fund (SMSF) in the event of the death of a member.  It revisits the trustee requirements on death, the benefit payment options and references the appropriate taxation.

On successful completion of this program, participants should be able to:

• Research and explain the legal regulations that apply to SMSFs.
• Research and critically evaluate the special taxation rules applicable to superannuation contributions, superannuation funds and superannuation benefits.
• Develop and critically evaluate an SMSF strategy to deal with regulatory and tax requirements in a complex SMSF scenario.
• Justify an SMSF strategy to deal with regulatory and tax requirements in a complex SMSF scenario.