Northern Region – SMSF SUPER DAY

Bringing together professionals in the SMSF community

Join us for the NSW Northern Region SMSF Super Day Let's talk all things SMSF.

Join the sessions facilitated by experts in the SMSF sector on topics including:

The Transfer Balance Cap and Total Super Balance – presented by Peter Crump, Private Client Adviser - AMP Advice
Lessons from SMSF Professionals - recent cases – presented by Richard Morris, Principal – Moin, Morris and Schaefer
SMSF Super Day - The latest from the ATO – presented by Katrina Fletcher, Managing Director, Elite Super

SESSION: The Transfer Balance Cap and Total Super Balance – presented by Peter Crump, Private Client Adviser - AMP Advice

The Transfer Balance Cap and Total Super Balance concepts have been in place a few years now. This session will revisit how they are determined and how they are used in practice. How do they work together and how can they be used proactively and constructively to improve our client's position ? Case studies will include alternative pathways on the death of a primary member leaving a secondary member in the SMSF. How can the position be optimised in advance ?

Learning outcomes:
Participants will have a better understanding of the TSB and TBC and how they affect existing positions be influenced to improve these.

SESSION: Lessons from SMSF Professionals - recent cases – presented by Richard Morris, Principal – Moin, Morris and Schaefer

Richard Morris will present a summary of 2 recent cases of great importance to SMSF practitioners and the lessons from those cases, being the Queensland case of Re Narumon, in relation to whether an attorney for a member can make a binding death benefit nomination for the incapacitated member, and the Victorian case of Re Marsella in relation to how a trustee of an SMSF must exercise their discretion to choose a death benefit recipient when there is no nomination in place, and also who ought to be the trustee of an SMSF after death of a sole member.

• importance of powers of attorney and binding death benefit nominations;
• SMSF Trustee discretion in relation to death benefits

Learning outcomes:

• importance of powers of attorney and binding death benefit nominations;
• SMSF Trustee discretion in relation to death benefits

SESSION: SMSF Super Day - The latest from the ATO – presented by Katrina Fletcher, Managing Director, Elite Super

1. Investment strategy letters to trustees (including a detailed analysis of Baumgartners case and investment strategy breaches)
2. Auditing unlisted investments (units and shares)
3. ATO and their new approach to administrative penalties
4. Approved auditor checklist – auditing the auditor

Learning outcomes:
For advisors/accountants and auditors
- New investment strategy expectations under R4.09
- New expectations from ATO in the unlisted investment audit space and market valuations
- New ATO approach to application of penalties and what the trustees should know
- Approved auditors are on notice from ATO!

Details

Date:
29 Nov 2019
9:30 am AEDT - 3:30 pm AEDT
Knowledge Area:
Benefit Payments, Contributions, Taxation
CPD Hours:
4.5
Venue:
Breakfree Aanuka Beach Resort
11 Firman Dr
COFFS HARBOUR, NSW 2450

Speakers:

Katrina Fletcher SSA, SSAUD

Katrina is the managing director of Elite Super and has 22 years experience in the SMSF & accounting profession. She is a member of the Institute of Chartered Accountants (ICAA). She has SMSF professional advisory qualifications through the Strategist Group with an Advance Diploma of Financial Services (Financial Planning). She holds (SPAA) membership accreditation as a SMSF Specialist Advisor and SMSF Specialist Auditor. She also has a considerable legal background being a former partner in a legal and accounting practice for 8 years. She is also an ASIC registered SMSF auditor.

Peter Crump SSA

Peter Crump is a financial adviser and actuary who has worked in superannuation all of his career, well over 30 years.

He is a private client adviser at ipac south australia, part of ipac and the AMP group of companies. He provides financial advice and expert superannuation advice to his and ipac south australia’s clients.

He is the immediate past Chairman of the SMSF Association and continues as a director of the Association.

He has a few formal qualifications, covering taxation, financial advice and actuarial, as well as being a Graduate member of the Australian Institute of Company Directors.

He is a published co-author and has made numerous presentations and authored papers on superannuation and SMSF related issues.

He has a very patient wife, with whom he has just celebrated his 30th wedding anniversary.

Richard Morris

Richard practises in the areas of Wills, Probate and Estates, as well as business and commercial law. He also holds a Master of Laws (Applied Law) majoring in Wills & Estates and handles complex wills, testamentary trusts, Probate and contested Estate issues such as Family Provision claims. He joined Greg and Chelsea as a Director of the firm in 2018.

Richard is a full member of the Society of Trust and Estate Practitioners (STEP). Of the approximately 30,000 lawyers in NSW, about 190 have fulfilled the requirements to be admitted to STEP. At last count there are only 9 lawyers outside of Sydney in NSW who are full members of STEP - and we have 2!

Richard has experience in corporate governance, and has served as a Director for both private and not-for-profit companies.

As a litigator, Richard has acted on a wide range of civil disputes, including defamation, contract disputes, negligence claims and employment matters. He has also undergone training through LEADR as a mediator of disputes.