- Presentations, Technical Resource
- Investment standards
Technical Summit 2023
In this workshop, Mark Ellem presents case studies for attendees to consider technical issues that can arise during the preparation of annual financial statements. The case studies address the following technical issues:
- Case study 1: An SMSF receives insurance proceeds in respect of a member. We consider the taxation and superannuation compliance requirements and issues.
- Case study 2: Should an SMSF adopt tax effect accounting? How does this affect an SMSF member’s entitlement to concessions and caps? How can it be implemented simply
- Case study 3: Distributions for related trusts and what happens if an SMSF is paid more than what they are entitled to.
- Case study 4: Dealing with capital gains in an SMSF and treatment where the asset sold had its costs base reset in 2016-17.
- Case study 5: Exempt current pension income. Reviewing the options for an SMSF claiming ECPI we will look at a number of different scenarios
The contents of this resource are taken to be correct at the time of publication.
Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association