CPD Requirements - SMSF Association

SMSF Association CPD Requirements

The SMSF Association is committed to fostering and enhancing integrity and professionalism in the SMSF sector as well as encouraging SMSF professionals to achieve excellence in their education, knowledge and skills. The SMSF Association recognises professional development as an integral part of this process. All Associate and Specialist members are required, as a condition of ongoing SMSF Association membership, to achieve minimum levels of CPD hours in areas relevant to the provision of advice on SMSFs.

What is a triennium?

A triennium is a specified period of three years that runs concurrently with the financial year. A new member’s first triennium begins on 1 July in the year immediately following the date they become a member of the SMSF Association. The SMSF Association operates its CPD requirements on a rolling triennium basis – see illustration below:

What are my CPD hour requirements in a triennium

Membership category	Minimum CPD hours each triennium	Minimum CPD hours any one year
Specialist Member	90	25
Associate Member	60	15

How can I accrue my CPD hours?

CPD category	Description	Maximum hours per triennium
SMSF Association Accredited	SMSF Association education activities SMSF Association accredited external education activities	Unlimited
Non-accredited	Any relevant (SMSF related) non-accredited CPD activity, including participation at conferences, training presentations, seminars, or discussion groups that are not SMSF Association accredited Non-accredited professional reading (sub-limit of 15 hours per triennium)	30 hours (including non-accredited professional reading)

Examples of complimentary CPD included with your Membership

Activity	Available hours per annum
Regular Specialist Audit Discussion Group (SSAud only)	Up to 10 hours
4 x Legislative & Regulatory update webinars	Up to 4 hours
Federal Budget update webinars	Up to 1 hour
6 x Technically speaking e-publication	Up to 6 hours
SMSF Association Committee role	Xx hours

What knowledge areas contribute to my CPD requirements?

Education and training in the following knowledge areas can contribute towards your CPD requirements provided it is in the context of SMSFs:

Superannuation
Managed Investments
Financial Planning
Life Insurance
Generic Knowledge
Practice Management
Ethics.