SMSF Symposium: Opportunities and Threats
Issues covered include: Financial Adviser Standards and Ethics Authority (FASEA) Update, TBAR, Royal Commission, Pension options, SMSF Deed, Superannuation contributions, non-concessional contributions, Transfer Balance Account, Super Death Benefits, Binding death benefit nominations, blended families, incapacity.
Description
Regulators are increasingly targeting SMSF advisors after finding that 90% of them have breached the law. Stay out of the crosshairs and avoid a regulatory disaster for your practice and your clients by keeping updated on the latest legislation and understand precisely what regulators require. Take this opportunity to pick up practical tips and traps on TBAR and work out tailored solutions on pensions, contributions, super death benefits and other proactive planning strategies for your SMSF clients.
Attend and earn 7 CPD Points/Hours
This symposium was recorded in NSW on 17 June 2019
This program is accredited by the SMSF Association
Chair: Louise Meijer, Partner, Pitcher Partners
REGULATORY UPDATES: THE NEED TO KNOW
9.00am to 9.40am: OPENING ADDRESS: The Professional Future for SMSF Practitioners: Financial Adviser Standards and Ethics Authority (FASEA) Update
- Everything has changed with the introduction of statutory professional requirements and a shift in community and regulatory expectations, but there is opportunity and optimism for those who can chart their way through the challenging waters over the next few years
- Do you know what your requirements are, how to navigate them and whether you and your practice are ready for them?
Presented by Dr Deen Sanders OAM, Partner, Ethics and Professionalism Leader, Governance, Regulation and Conduct, Deloitte; Past CEO of FASEA
9.40am to 10.25am: Financial Advice and SMSFs: What to Expect after the Royal Commission
- Has the best interests duty test changed?
- When is an SMSF appropriate?
- What does ASIC expect to see from advisers?
- Observations about current ASIC enforcement action
Presented by Dr Hillary Ray, Partner, Cowell Clarke
10.25am to 10.40am Morning Tea
PENSIONS, DEEDS AND DOCUMENTATION
10.40am to 11.40am: Pension Planning: The Long and Short Run and an Interactive Q&A
Examine the different options available to clients when structuring pensions, including:
- Long term pension options
- Short term pension options
- Transition to retirement pension options
- Balancing options
- Optimising multiple account balances
- Tax and estate planning considerations
Finish with an interactive Q&A session that will assist you in advising your clients in this ever-challenging space.
Presented by Kim O'Brien, Partner - Tax and Superannuation, EY
11.40am to 12.35pm: SMSF Deed and Pension Documentation: Getting it Right and Fixing Problems When Things Go Wrong
- Why it's important to know what's in an SMSF trust deed
- Good and not so good provisions in a trust deed
- Is my client's binding death benefit nomination valid?
- Appointment of fund trustees: Is there a wrong and right way?
- Pension documents: What should they look like?
Presented by Graeme Colley, Executive Manager, SMSF Technical & Private Wealth, SuperConcepts
12.35pm to 1.20pm Networking Lunch
PROACTIVE PLANNING STRATEGIES
1.20pm to 2.15pm: Structuring Superannuation Contributions Over a Lifetime
- Maximising deductible workplace contributions
- Taking full advantage of contribution splitting
- Structuring your affairs to maximise non-concessional contributions
- Making contributions during your retirement
Presented by Mark Wilkinson, Partner - Superannuation, BDO
2.15pm to 3.10pm: SMSF End of Year Planning Opportunities and Pitfalls
Explore practical end of year strategies including:
- Contribution strategies to maximise member balance and tax concessions
- Strategies to assist with better management of transfer balance cap
- Strategies to equalise super balances between members of a couple
You will also gain a practical overview of key considerations and actions advisers need to take before the end of financial year to remain compliant.
Presented by Yvonne Chu, Head of Technical Services, Australian Unity
3.10pm to 3.25pm Afternoon Tea
3.25pm to 4.20pm: A Step by Step Guide to TBAR
- When to report a Transfer Balance Account (TBA) event
- How to report a TBA event
- What can go wrong with TBA reporting
- Excess TBA determination issues
- Tips and traps for TBAs, Transfer Balance Caps and Total Superannuation Balance
Presented by Jennie Lynn, Director, Brookside Accountants Pty Ltd
4.20pm to 5.15pm: Practical Planning Strategies with Super Death Benefits
- The superannuation transfer balance cap and the impact on binding death benefit nominations and reversionary pension strategies
- Superannuation death benefit strategies in high net worth estate planning
- Death benefit strategies in blended family situations
- Superannuation death benefit nominations and incapacity
Presented by Brian Hor, Special Counsel, Superannuation & Estate Planning, Townsends Business & Corporate Lawyers
5.15pm Closing Comments by the Chair
Venue
Cliftons Sydney
Level 3, 10 Spring Street
Sydney 2000
NSW
Australia