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SMSF Intermediate Online Workshop 2024 Session 2

Recorded 11 September 2024. Contributions, pensions and event-based reporting and the transfer balance cap

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 11 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.

Total 0 CPD Hours

What we cover

Session 2

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 Anthony Cullen

Contributions

When your clients can and can’t make a contribution
How much can they make?
Applying the non-concessional bring forward rules
In-specie transfers and non-cash contributions - what to do with them
Excess contributions
Contributions tax for high income earners
Unused concessional contribution cap and when a member can utilise this
Recent work test changes
Calculating a member’s total superannuation balance, it isn’t always as easy as identifying their member balance last financial year

Pensions

Withdrawing pensions and how to treat excess pension payments
Converting transition to retirement pensions to retirement income phase pensions
Dealing with segregated funds post 1 July 2018
How to meet minimum pension obligations: why it’s important not to get this wrong and ensure clients meet their obligations
How to apply the 1/12th rule when the minimum pension has been missed
How preservation issues often arise without you knowing: the strict cashing order that must be followed for preservation components
Stopping and starting pensions: what needs to be put in place
Calculating member balances - part year, market value, TRIS and preserved benefits
Withholding obligations
What to do when a member dies

Event-based reporting and the transfer balance cap

Working with event-based reporting and understanding the framework
What you need to look out for
When you need to report and a summary of the timeframes
How to prepare a transfer balance account report (TBAR) form
Indexation of the transfer balance cap and how to calculate a member's personal transfer balance cap

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.