SMSF Tax & Accounting Workshop

How to get the tax & accounting work right for SMSF clients in the changing superannuation landscape

 

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SMSF Tax & Accounting - get it right post 1 July 2017

How to deal with the transfer balance cap and event based reporting
Complete the 2018 SMSF return & financials accurately
Practical examples that can be used in the real world

 

Tax and accounting for SMSFs has become increasingly difficult. Accountants now need to consider the transfer balance cap, total super balance and event-based reporting requirements, on top of changes to determining the ECPI and managing contribution caps.

 

Preparing the 2018 financials has become a minefield of new interpretations and changes the way things have always been done.

 

This special workshop takes a practical approach - guiding you through the processes and procedures required to accurately manage client needs for the 2018 financial year onwards and to get your TBARs right.

 

Who should attend?

This workshop is for accountants moving into SMSF work and those wanting to work with the new rules. 

 

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2019 Dates

Sydney Monday 11 March 2019 | Brisbane Tuesday 19 March 2019 | Melbourne Thursday 21 March 2019
  

“It filled in the gaps in my knowledge. Excellent presentation.” 
2018 Sydney participant

 

What we cover

Financial statement & tax return preparation


  • Actuarial certificates - when you need them
  • Ex-dividend vs cum-dividend - which one is correct?
  • Accurately recording assets at market value including property, collectibles, unlisted investments and unit trusts
  • What to do with Bitcoin and other crypto currencies
  • Cash vs accruals?
  • Allocating earnings to members
  • Non-bank LRBAs and the safe harbour provisions
  • Identifying and tracking in-house assets
  • Getting the labels right on the tax return
  • Tax return problem areas
  • Calculating member tax preservation components
  • Competing the SMSF annual return
    • Accumulation funds
      • Managing lump sums
    • Pension funds
    • Pooled funds 

Managing deductions


  • Deductibility of set-up costs and LRBAs
  • Deductions - are you underclaiming or overclaiming?
  • Exempt current pension income - THE NEW APPROACH
  • The different ways to apply deductions and why one size doesn’t fit all
  • 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
  • When your clients can and can’t make a contribution

Working with the auditors

 

  • Audit proof: how to give the auditor what they need
  • Pre-audit review and rectification

Event based reporting and the transfer balance cap


  • What is event-based reporting and understanding the framework
  • Who is impacted and 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
  • Essential tips and traps and the pitfalls to be aware of
  • How event-based reporting is going to change the way you administer funds

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 2017
  • How to meet minimum pension obligations: why it’s important not to get this wrong and ensure client’s meet their obligations
  • How to apply the 1/12th rule when the minimum pension has been missed
  • Running multiple pensions for clients: getting it right
  • 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
  • Commencement calculations
  • Calculating member balances - part year, market value, TRIS and preserved benefits
  • Withholding obligations
  • What to do when it all goes wrong
    • Applying the Commissioner’s powers of general administration
  • What to do when a member dies

 

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
  • Reporting contributions
  • Excess contributions
  • Contributions tax for high income earners
  • Salary sacrifice vs deductible contributions: is there any difference?
  • Accurately reporting rollover benefits in the tax return

 

So, what do you say?

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Our Presenters

Ray Itaoui

Director - SMSF | Hayes KnightRay Itaoui

 Ray is a Director of Hayes Knight and a registered SMSF Auditor with extensive experience in the audit, accounting and administration of superannuation funds.

 

Ray has expanded Hayes Knight’s Superannuation Division considerably over the last few years. As the head of the SMSF division, he has developed and implemented the processes and procedures to create an efficient, accurate and proactive SMSF compliance, administration and audit service. In addition to his work with Hayes Knight, Ray also heads Hayes Knight’s SMSF audit and administration outsourcing company, Superssentials Pty Ltd. Superssentials is a high quality, Australian based service that ensures there will be no nasty surprises for accounting firms across Australia and the clients they refer.

 

Ray is that rare breed of person who is not only practical but detail conscious with an in-depth understanding of the impact of the regulatory environment faced by the profession.

Karen Vella

Director I Green Square Tax

Karen VellaKaren understands how to translate complex tax issues into practical, everyday solutions for her audience.

 

Karen has ‘been there and done that’, having trained with the Big Four, initiated her own successful small practice before moving to Hayes Knight, then solidifying her role as an educator at Webb Martin (Kaplan) before creating her own consultancy.

 

 

She works her magic on leading accounting practices around the country and now for her audience at this exceptional workshop.

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Members please log in from the registration page or register through the member-only website.

More on membership
PD Hours 8
Difficulty 3.5/5
Resources Workbook
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Terms & Conditions 
All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 14 days or less of the event date under any circumstances. No credits are available less than 4 days prior to the event under any circumstances.

2019 Dates

Sydney

Monday 11 March 2019
Macquarie Graduate School of Management
Angel Place, Level 24, 123 Pitt St, Sydney

Brisbane 

Tuesday 19 March 2019
Pullman King George
Corner Ann & Roma St, Brisbane

Melbourne
Thursday 21 March 2019
Rendezvous Hotel
328 Flinders St, Melbourne

Time

8:30am - 9:00am
Registration

9:00am - 5:00pm
Training day

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Brochure

Investment

Early Bird
For payments received by Friday
15 February 2019

$545 Member
$595 Non Member

General

$625 Member
$685 Non Member

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