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The key to specialising in self-managed superannuation funds (SMSFs) is to understand how legislation interacts and how the various regulators of the superannuation industry interpret the law. While there are many pieces of Commonwealth and state legislation that is relevant to superannuation, two Acts and their associated Regulations, are critical to the ongoing management and […]
This module looks at the steps to establish a self-managed superannuation fund (SMSF) as a regulated superannuation fund to become a complying superannuation fund entitled to tax concessions. The module 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 […]
Contributions require a thorough understanding of the Superannuation Industry (Supervision) Regulations 1994 (Cth) (SIS Regulations), and the Income Tax Assessment Act 1997 (Cth) (ITAA 97) and Income Tax Assessment Regulations 1997 as they provide the rules on making and accepting contributions, and determine the taxation treatment, designation and deductibility. This module provides an outline of […]
Self-managed superannuation fund (SMSF) trustees have ultimate control over the investments of the fund. To protect the investments of the fund, and to avoid ATO penalties and possible legal disputes, its essential the trustee’s investment decisions are made in accordance with the fund’s trust deed, investment strategy, the sole purpose test and are within the investment […]
This module explores the taxation obligations of a self-managed superannuation fund (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 module also identifies income from transactions that are not maintained on an arm’s-length basis and imposes a higher […]
This module 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. This module also reviews previous types […]
All superannuation members have an interest in their superannuation fund. For self-managed superannuation fund (SMSF) members, these interests are a single accumulation interest and/or single or multiple pension interests. This module defines an interest is an SMSF and explains the preservation status of a members’ benefit. The module also considers the conditions of release that […]
This module 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. The module also considers […]
This module 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 relevant taxation considerations. This module also investigates the ways in which a member can direct the trustees of […]
OVERVIEW: This interactive webinar will provide an overview of the latest COVID-19 developments as they impact the SMSF sector and answer key questions asked in our previous COVID-19 webinar. John Maroney, CEO, SMSF Association will outline the latest announcements with their direct impact on our industry and highlight information and resources that will assist you […]
OVERVIEW Dana Fleming, Assistant Commissioner – SMSF Segment, Australian Taxation Office joined the Association’s CEO, John Maroney for an insightful discussion on how the ATO is supporting the super industry and SMSF professionals during COVID-19. Dana and John covered a range of key issues that SMSF professionals have asked us to discuss with the ATO […]
OVERVIEW This edition of ‘In conversation with the ATO’ features the ATO’s SMSF Auditor Portfolio Director, Kellie Grant, and the SMSF Association’s Technical Manager, Mary Simmons, covering the impact of COVID-19 from an SMSF auditor’s perspective. This discussion covers: • ATO announces SMSFs will not face compliance action where an in-house asset breach that arose […]