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SMSF Intermediate Online Workshop 2024 Session 1

Recorded 9 September 2024. The definition of an SMSF and why it matters, Financial Statement and Tax Return Preparation and Managing deductions

Essential training for SMSF compliance teams
The new NALI rules in practice
How indexation of the TBC impacts your clients 2023-24 compliance work
Practical management of complex and unusual assets

Recorded 9 September 2024

Move beyond the basics of SMSF compliance work.

On the job training will only take you so far and software is only as good as the data it's given. This exceptional workshop is designed to deliver the skills SMSF compliance teams need to identify and manage complex SMSF tax and compliance issues before they become a problem.

The SMSF Intermediate Online Workshop steps through the essential processes and procedures for managing the key elements of an SMSF client’s tax and financial preparation work, brings you up to speed with the latest regulatory changes and methodologies, and identifies the tax and SIS ‘red flags’ that you need to know.


What we cover
Session 1

The SMSF Intermediate Online Workshop is for accountants working with SMSFs that want to extend their knowledge. It provides an essential framework for common SIS compliance and tax issues to help intermediate accountants transition to the next stage.

Stay up to date

We’ll bring you up to speed with the 2024 changes including:

  • The new rules for NALI/NALE, when and how the new rules apply to your clients
  • Changes to contribution caps from 1 July 2024 and how these impact on the bring forward rules
  • Understanding which ECPI method should be used for your client and when a choice is available
  • Indexation of the transfer balance cap from 1 July 2023

 

with Natalie Scott

The definition of an SMSF and why it matters

  • Definition of an SMSF including the rules for 6 member funds
  • Who can be a member and who should be directors
  • Corporate v individual trustee
  • What happens if an SMSF does not meet the definition
  • Definition of an Australian Superannuation fund and consequences of failing the definition

Financial Statement and Tax Return Preparation

  • Actuarial certificates - when you need them
  • Identifying and tracking in-house assets
  • 2024 tax return updates and common problems
  • Calculating member tax preservation components
  • Market valuations - what is sufficient and when do you need an independent valuation?

Managing deductions

  • Exempt current pension income, segregated assets or proportionate method
  • When does a fund have disregarded small fund assets?
  • Deduction problem areas
  • Member insurance deductions
  • Investment property deductions including borrowing costs
  • Adviser fees, legal and administration costs
  • Managing capital and tax losses in a fund
  • The rules on share trading losses including options
  • Allocating deductions within segregated funds
  • The interaction between GST and deductible expenses

Natalie Scott

Superannuation Adviser, Knowledge Shop

Natalie has spent well over a decade immersed in the intricacies of how SMSFs operate, navigating an increasingly complex legislative and regulatory environment, and managing the issues that arise servicing client needs (and wants!).

She has led the SMSF divisions of mid and second tier firms and understands SMSFs from the ground up – accounting, tax, structuring and advice. At Knowledge Shop, Natalie is an advisers’ adviser, helping the profession clarify the practical requirements and opportunities of SMSFs. She brings this knowledge to her presentations and explores the issues in a very practical way – knowledge that is immediately transferable in practice.

Natalie is a Chartered Accountant and a specialist member of the SMSF Association.

Anthony Cullen

Senior SMSF Educator, Accurium

Anthony is a new member of the Accurium education team and comes to us with nearly 25 years of experience in the accounting and SMSF industry. 

He has previously held senior roles managing the SMSF division of a small accounting practice and providing SMSF technical support within a large SMSF administration business. 

Over the years, Anthony’s roles have evolved from the accounting function of SMSFs to keeping on top of the ever changing technical and compliance nature of this specialised area.

SMSF Intermediate Online Workshop 2024 Session 1

Superannuation
2 modules

Investment per person: $ 480.00 + GST
Team cost: $ 1,200.00 + GST
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