SMSF education course for professionals

After completing this topic area, learners will be able to:

• calculate an individual’s total super balance in unusual circumstances;
• compare the timing of super events on an individual’s total super balance vs their transfer balance cap;
• recognise additional issues for SMSF members; and
• apply their learnings to everyday client scenarios.

After completing this topic area, learners will be able to:

• discuss in detail the rules which must be met to utilise carried forward concessional contribution cap amounts;
• recognise the target client groups for whom the strategy might be useful; and
• apply their learnings to construct strategies for clients.

After completing this topic area, learners will be able to:

• understand the bring forward rules in detail – what they are and how they work;

• identify clients who can and can’t use the bring forward rules;

• suggest solutions for clients who have triggered the bring forward rules when they didn’t mean to;

• use the bring forward rules to help clients maximise their super; and

• apply their learnings to everyday client scenarios.

• understand the eligibility criteria for downsizer contributions and the rules to be followed when they are made;

• help clients identify when they could use a downsizer contribution to boost their super; and

• help clients avoid mistakes when it comes to making downsizer contributions.

• explain who can split contributions with whom;

• identify timeframes and restrictions that apply in particular circumstances;

• understand the circumstances under which this could be valuable; and

• apply these rules for the benefit of their clients.

After completing this topic area, learners will be able to:

• differentiate the ways in which mistakes can be made when contributing to super;

• understand how each of these contribution mistakes must be dealt with;

• explain how these amounts should be reported; and

• apply their learnings to everyday client scenarios.

After completing this topic area, learners will be able to:

• explain what happens if a member exceeds a contributions cap;

• differentiate between the consequences for excess concessional and non-concessional contributions;

• understand the various amounts and terms on an excess contribution determination;

• identify common reporting errors and recognise how to correct them;

• evaluate whether an application should be made to disregard or reallocate contributions;

• explain the process to be followed to release excess amounts from super; and

• apply their learnings to everyday client scenarios.

After completing this topic area, learners will be able to:

• recognise why a client may wish to qualify as “retired”;
• explain the difference between the two retirement definitions;
• critique whether a client qualifies as “retired”;
• investigate arrangements which appear contrived; and
• apply this knowledge to your clients’ situations.

After completing this topic area, learners will be able to:

• explain commutations for super pensions;
• explain the difference between a partial and full commutation;
• explain the different impacts on minimum pension payments and ECPI; and
• help clients get the best possible outcome when taking a commutation.

After completing this topic area, learners will be able to:

• explain the difference between the general transfer balance cap and an individual’s personal transfer balance cap;
• identify whether a client is eligible for indexation of their transfer balance cap and how it is calculated; and
• weigh up the pros and cons of strategies to maximise a client’s indexation amount.

• explain the process by which a TRIS becomes a retirement phase account-based pension;
• identify strategic opportunities for TRIS clients about to take this step;
• identify potential pitfalls and how to avoid them; and
• apply this knowledge to your clients’ situations.

• explain the circumstances under which a member might meet other conditions of release (permanent incapacity, temporary incapacity, terminal medical condition, financial hardship, compassionate grounds);
• explain the special tax treatment applicable for people meeting these conditions of release;
• identify cases where clients may appear to meet these conditions of release but in fact don’t; and
• apply these rules to your clients’ super benefits.

After completing this topic area, learners will be able to:

• understand how market linked pensions work;
• perform the relevant calculations for pension payments, terms, transfer balance debits and credits; and
• use these to assist your clients in maintaining, changing and ending their market linked pensions.