SMSF

Kaplan Education Pty Ltd
Brisbane, Melbourne, Perth, Sydney, Australia

Course Format: Classroom | E-learning | Virtual Class | Online/Live | On-site/In-house | Blended | Self-paced

Course Description:

'' Our SMSF program contains eight modules that teach you the core fundamentals of self-managed superannuation funds and beyond. The program helps you to identify appropriate strategies and apply relevant regulations to unique client situations.

Module 1: Introduction to Self Managed Super Funds
On successful completion of this module, you should be able to:
􀂃 Describe the purpose of superannuation in today’s society
􀂃 State relevant figures regarding the superannuation system in Australia
􀂃 Determine if a self managed fund is the right vehicle for the client
􀂃 List the advantages and disadvantages of self managed superannuation funds
􀂃 Determine whether a single member fund is a self managed superannuation fund
􀂃 Determine whether a fund with less than 5 members is a self managed superannuation fund
􀂃 List the SIS Act rules which do not apply to SMSFs
􀂃 Describe the role of the trustee and determine the most appropriate trustee for a fund
􀂃 List who cannot be a trustee of an SMSF
􀂃 Explain the importance of a trust deed
􀂃 Explain how SMSFs are regulated
􀂃 Identify the features of a complying SMSF and describe the consequences of a fund losing its complying status
􀂃 Design a checklist for setting up an SMSF and explain each step.
Module 2: Trustee Responsibilities
On successful completion of this module, you should be able to:
􀂃 Explain the minimum trustee requirements under the SIS covenants
􀂃 Describe what the sole purpose test is
􀂃 Outline when a trustee can accept contributions and when they can pay benefits
􀂃 Identify the importance of a fund investment strategy
􀂃 List the annual administrative tasks required to be undertaken by the trustees of a SMSF
􀂃 Describe the ATO’s compliance approach
􀂃 Explain the SIS penalty regime
Module 3: Investment Restrictions
On successful completion of this module, you should be able to:
􀂃 Explain the main investment restrictions placed on self managed superannuation funds
􀂃 Describe the exemptions from the main investment restrictions placed on self managed superannuation funds
􀂃 Analyse how legislation has affected investment restrictions in recent years
􀂃 Identify the importance of an investment strategy for SMSFs
􀂃 Explain when an SMSF can borrow or loan money
􀂃 Outline the use of derivatives and unusual investments in an SMSF.
Module 4: Taxation Issues
On successful completion of this module, you should be able to:
􀂃 Explain when a contribution to an SMSF fund is taxable and list any exemptions
􀂃 Describe how investment income, special income, exempt current pension income and administration expenses are treated by the fund
􀂃 Calculate the capital gains tax payable by an SMSF
􀂃 Evaluate how capital losses are treated within an SMSF and recommend appropriate steps to be taken by the trustees of the SMSF to minimise any tax liability
􀂃 Calculate the deduction available to trustees for different life insurance products
􀂃 Calculate the deduction available to trustees under section 295 - 485 ITAA97 as an anti-detriment payment
􀂃 Calculate the surcharge payable by an SMSF member for years up to and including the year ended 30 June 2005
􀂃 Evaluate how PAYG and GST affects SMSFs.
Module 5: Self Managed Super Funds and Estate Planning
On successful completion of this module, you should be able to:
􀂃 Describe who a death benefit can be paid to and the form in which it can be paid
􀂃 Explain the different ways a member of a SMSF can control who receives his/her death benefit
􀂃 Outline the issues relating to using different death benefit nominations
􀂃 Describe how death benefits are taxed
􀂃 List the different reversionary options that a member starting a pension has
􀂃 Explain what happens to the deductible / tax free amount on death
􀂃 Describe what happens where a defined benefit pension member dies.
Module 6: Paying Pension Benefits out of an SMSF
On successful completion of this module, you should be able to:
􀂃 Describe the different types of pensions available and their associated characteristics
􀂃 Calculate the annual pension payment of a market linked income stream
􀂃 Explain the taxation consequences when a fund is in the pension phase
􀂃 Describe the steps involved to set up a pension from an SMSF
􀂃 List the steps involved in winding up an SMSF.
Module 7: Member Accounts
On successful completion of this module, you should be able to:
􀂃 Calculate a member’s account balance at a point in time
􀂃 Describe the operation of member accounts and list factors which increase/decrease account balances
􀂃 Explain how personal, spouse, employer and self-employed contributions are allocated to member accounts
􀂃 Explain how the preservation rules apply to a member account
􀂃 Describe how earnings and withdrawals are allocated to member accounts
􀂃 Explain the impact on the member account if a fund is in pension phase
􀂃 List instances when a fund would need to calculate a mid year balance for a member account.
Module 8: Strategies and Financial Planning Opportunities
On successful completion of this module, you should be able to:
􀂃 List different strategies for SMSFs and recommend an appropriate course of action
􀂃 Explain how different strategies work, specifically in relation to SMSFs
􀂃 Describe the advantages and disadvantages of different SMSF strategies
􀂃 Explain different financial planning opportunities for SMSFs. ...''

Elements of this syllabus are subject to change.

Phone:(02) 9908 0200, (03) 9626 4500, (07) 3018 0800, (08) 6267 7900

School Address/Venue(s):

Sydney
Level 4
45 Clarence Street
Sydney NSW 2000

Melbourne
Level 4
4 Freshwater Place
Southbank VIC 3006

Brisbane
Level 11
12 Creek Street
Brisbane QLD 4000

Perth
Suite 1, Level 6
12 St Georges Terrace
Perth WA 6000


Jobs & Resumes: Brisbane, Melbourne, Perth, Sydney
Houses & Roommates: Brisbane, Melbourne, Perth, Sydney
Travel Agencies: Brisbane, Melbourne, Perth, Sydney

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