January 1, 2020 @ 7:00 pm - January 1, 2025 @ 7:00 pm ACDT$275
Having ultimate control over the investments of an SMSF, remains one of the main drivers for trustees establishing and maintaining a fund. This module highlights the importance for SMSF trustee investment decisions to be made in accordance with the fund’s trust deed, the fund’s investment strategy and the sole purpose test.
The module also covers the numerous investment restrictions placed on SMSF trustees as set out in the super law, particularly when dealing directly with members, relatives or related parties. At each point, the Module also deals with the associated tax consequences, to ensure to the investments of the fund are protected and to avoid ATO penalties and possible legal disputes.
On completing this module, participants should be able to:
- identify the obligations associated with formulating and giving effect to an investment strategy
- consider the sole purpose test with regards to making investments in an SMSF
- describe the investment prohibitions that apply to SMSFs and the exceptions to those prohibitions
- outline the assets that the trustees of an SMSF can acquire from a related party of the fund
- define a related party of the fund
- understand the rules which apply to collectable and personal-use assets acquired and held by an SMSF
- describe the in-house asset rules and how they apply
- consider the use of reserves in an SMSF.