SMSFs Summit
We’ve gathered leading experts to drill down on all the pertinent issues facing SMSFs. From challenging death benefits payments, contributions & innovative investments to LRBAs and NALI/NALE. Attend to deepen your understanding of the most critical issues facing legal and accounting SMSF advisors today. WEB233N51Z
Description
Attend and earn 4 CPD units including:
2.5 units in Substantive Law
1.5 units in Professional Skills
This program is applicable to practitioners from all States & Territories
Chair: Shirley Schaefer, Partner, Superannuation, BDO; SMSF Specialist
9.00am to 9.05am Opening Comments by the Chair
9.05am to 9.50am Understanding Obligations of Trustees and Recent Case Law
- General and statutory duties and covenants of trustees
- Obligations to comply with SIS legislation e.g. sole purpose test and arm’s length rules
- Contraventions of the SIS Act and regulations and implications to the fund
- Liability of trustees and directors of corporate trustees
- Common breaches/contraventions of the SISA & SISR
- Disqualification of trustees and directors of corporate trustees
- Recent cases
Presented by Dr Bill Orow, Barrister, Greens List
Professional Skills
9.50am to 10.35am Contributions and Investments in Turbulence Times
- Examining the opportunities that that have arisen due to falling markets and the ability to increase your contributions
- Contributions strategies post 30 June 2022 – now that contributions can be made to age 75yrs
- Examining when downsizer and CGT exemptions contributions can be made
- Examine the issue of superannuation interests and the interaction of the cash out and recontribution strategy
Presented by Mark Wilkinson, Partner, Superannuation, BDO; SMSF Specialist
10.35am to 10.50am Break
10.50am to 11.35am Non-Arm’s Length Transactions, In-House Assets, and the Consequences When Things Go Wrong
- The strict non-arm’s length rules in relation to income and expenses, with case studies
- Tips and traps of the in-house asset rules, and exceptions, with case studies
- Penalties, directions, and the Commissioner’s discretion when benefits are received in breach of legislative requirements
Presented by Adrian Hanrahan, Lawyer, Smailes Krawitz
Professional Skills
11.35am to 12.20pm Limited Recourse Borrowing Arrangements (LRBAs)
- General rules
- Interaction with Total Super Balance
- NALI: safe harbour requirements
- NALI: risks with in-specie contributions on acquisition
- Future of LRBAs
Presented by Tracey Norris, Director – Superannuation Services, Pitcher Partners; CA SMSF Specialist and Rebecca Nipperess, Manager, Pitcher Partners
12.20pm to 1.05pm Death Benefit Payments, Conflict of Interest and Other Associated Issues
Dealing with death benefits can be a challenging task when proper planning and strategies are not put in place. With expert guidance, discuss some of the issues encountered by SMSF members and trustees in the event a member dies and some potential tips and traps to navigating conflict issues.
- Mechanisms for payment of death benefits
- Conflict obligations and challenges
- Death and pensions (Reversionary or Death Benefit Pensions)
- Tips to avoid challenges to death benefit payments
Presented by Yikai Hoe, Director, Provident Lawyers; SMSF Specialist Advisor & Chartered Tax Advisor
1.05pm to 1.15pm Final Q&A and Closing Comments by the Chair
Presenters
Shirley Schaefer
Shirley Schaefer is an auditor by training and an SMSF specialist by choice. She established a separate Superannuation division at BDO in 1996, recognizing the need to provide high quality technical services to clients with self-managed superannuation funds. Shirley is a regular speaker at SMSF & Audit conferences. She provides SMSF competency training for accountants and auditors and is the co-author of the Thomson Reuters SMSF Audit Guide.
Dr Bill Orow
Bill Orow is an expert in the fields of taxation law, superannuation and trusts holding a Ph.D as well as an LL.M and has had many works on taxation published, including authoring Comparative Anti-Avoidance Rules, Jordans, and co-authoring Income Tax and GST Planning Strategies Manual, Thomson Reuters. He practices in Federal and State taxation and has been briefed in matters involving income taxation, GST, superannuation, stamp duty, land tax, general infrastructure contribution tax and payroll tax. In addition, Bill has been briefed in general commercial law matters involving freezing orders, contempt of court, breach of trust, directors duties, insolvency, trade practices and common-law disputes (such as professional negligence and misrepresentation) and administrative law matters where prerogative writs were sought.
Mark Wilkinson
Mark Wilkinson is a Superannuation Partner in the Private Client Division with BDO in Sydney. Mark is one of the leading members of the BDO Superannuation team in Australia and has been providing superannuation and retirement planning advice for over 20 years. As a superannuation specialist, Mark provides strategic superannuation advice on how the State and Federal legislation impact on the areas of superannuation, retirement, estate and succession planning for clients as they build their wealth enroute to retirement. Mark knows how an SMSF structure can be used as an effective part of a business group, as an exit strategy, as a growth strategy, and how to undertake various property transactions including borrowing within the SMSF environment. Licensed to provide superannuation advice, he advises on SMSF establishment, contribution planning strategies, pension planning advice, estate planning and consulting regarding Superannuation Industry Supervision Act Compliance issues. Mark is a sought after National public speaker on superannuation and retirement, in-house trainer for large clients and accounting firms and an acknowledged industry specialist in the area of self-managed superannuation consulting.
Adrian Hanrahan
Adrian is admitted as a Lawyer of the Supreme Court of Western Australia and High Court of Australia. Adrian specialises in the tax and legal affairs of high-net-worth individuals, wealthy family groups and private clients. He also provides his expertise directly to accountants and other solicitors. Adrian also works as a Lecturer at Curtin Law School in both undergraduate (LLB) and postgraduate (MTax) degrees, is a regular presenter at CPD seminars, and sits on a number of taxation committees of professional bodies. Adrian has over 16 years' private practice experience providing advice in tax and private wealth structuring, and additionally, has worked as a Tax Avoidance Taskforce - Tax Specialist, in an Executive Leadership role at the Australian Taxation Office (ATO). Adrian is instructed by clients who need solutions to complex tax, trusts, SMSF, estates and legal problems for their businesses and investments including reviews, audits and litigation conducted by the ATO. Adrian holds a Master of Applied Finance, Bachelor of Commerce, Bachelor of Laws, Graduate Diploma of Legal Practice and has held a variety of specialist designations. He holds memberships with the Law Society of WA, Law Council of Australia, Financial Planning Association, and Economics Society of Australia.
Tracey Norris
Tracey Norris commenced in public practice over 20 years ago and initially advised small and medium enterprises on taxation and superannuation affairs. This variety of experience allows her to understand the bigger picture when advising clients on superannuation issues and providing commercial outcomes. Having worked with various industries supplying general taxation advice and now specialising in superannuation allows her to provide good strategic outcomes to compliment other advisors. Tracey's demonstrated knowledge and experience in the application of superannuation and taxation laws includes; SMSF compliance and audits; advising on restructure of assets to and from superannuation funds, whether the result of life events or business sales and acquisitions; assisting clients with effective retirement planning strategies; maximising investment opportunities using superannuation structures; writing expert reports for legal counsel in court hearings; and sitting on the compliance committee of a retail fund. Tracey is also a licenced adviser on the Pitcher Partners Australian Financial Service Licence and was a finalist for SMSF Adviser of the year at the Women in Finance Awards in 2022. Professional qualifications and memberships: Bachelor of Commerce (JCU); Advanced Diploma of Financial Services (Superannuation); Fellow of the Institute of Chartered Accountants in Australia and New Zealand (CAANZ); CA SMSF Specialist
Rebecca Nipperess
Rebecca Nipperess joined Pitcher Partners in 2019 as a Specialist superannuation adviser, having previously worked in boutique accounting firms gaining 10 years of experience in business services advisory and the SMSF industry, before deciding to solely focus on SMSFs. The skills she has learnt over the past 10+ years enables her to provide a holistic approach when advising clients. As a superannuation specialist, Rebecca provides strategic superannuation advice along with compliance support to SMSFs. Rebecca is licensed to provide superannuation advice and has experience in advising clients on: SMSF establishments, contribution planning strategies, pension planning, estate planning and LRBA establishments. Professional Qualifications and Memberships: Bachelor of Commerce (Accounting and Financial Planning); Member of the Institute of Chartered Accountants in Australia and New Zealand (CAANZ); CA SMSF Specialist; Australian Financial Services Licence Representative.
Yikai Hoe
Yikai is the founder of Provident Lawyers. He is an admitted legal practitioner in the Supreme Court of Western Australia and the ACT, and the High Court of Australia. Yikai enjoys practicing in superannuation and tax law and assists business clients and professional advisers with a myriad of legal solutions on all types of superannuation, tax compliance and commercial matters. He also delivers tailored estate planning and succession strategies to high net worth clients and is a SMSF Specialist Advisor and Chartered Tax Adviser. He has presented for CPD providers on various superannuation, tax and commercial law topics.