Self Managed Superannuation 1 – Establishment and Accumulation
General introduction to SMSF’s, Superannuation Overview, What is a SMSF, Benefits of SMSF’s, Establishing a SMSF, Who can give advice in relation to SMSF, Ongoing administration requirements of trustees, General trustee Responsibilities, Draft investment objectives and strategy for a SMSF, Identify application of sole purpose test, The Basic restrictions applying to investors, Understanding and applying the principles of the sole purpose test and investment standards, The basic restrictions that apply to investments
Identifying who or what entities are associates, Explaining the interaction of the various investment restriction in specific circumstances, Apply the transitional provisions to prescribed arrangements, Understand the role and responsibilities of auditors, Explain the distinction between financial and compliance reports, The circumstances when auditors must report breaches to trustees and regulators, Contributions – Deductibility and Assessable income, Assessment income of SMSF’s, Special Income, Deductions – insurance premiums, self insurance and anti detriment payments.
Self Managed Superannuation 2 – Distribution and Estate Planning
Sole purpose test – determination of benefit entitlements, Commencing a pension, Budget 2006 changes, Review of taxation of SMSF’s, Specific tax issues relating to pensions, Segregated vs un-segregated, Use of reserves in pension environment, Continuing pension liability problems, Investment Strategy concerns, Rules around use of derivatives, Modern Portfolio Theory, The Evaluation of Portfolio Performance, Estate Planning – now and post 1 July 2007, Winding up a SMSF – what you need to do.
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