SMSF education course for professionals – Super Extension

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

• recognise the various transactions which are contributions to super (both the common and not so common) and why they are regarded as contributions;

• explain the various ways in which contributions are made (to both SMSFs and non-SMSFs);

• identify when various different types of contributions are made and why that date is important; and

• apply their learnings to everyday client scenarios.

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

• explain when different types of contributions can and cannot be accepted;

• identify the action to be taken if an SMSF trustee accepts a contribution when the member wasn’t eligible; and

• apply their learnings to everyday client scenarios.

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

• recognise the different contribution caps and how the amounts are determined;

• determine the particular cap to which a contribution is counted and why;

• identify who can use the catchup contribution rules and the categories of clients for whom it might be useful;

• identify who can use the bring forward rules and how the amounts are determined;

• understand what happens if a member exceeds their cap and identify steps which could be put in place to stop an excess happening;

• calculate an individual’s total super balance; and

• apply their learnings to everyday client scenarios.

• identify if an employer can claim a tax deduction for contributions for particular individuals;

• distinguish when the “engagement test” needs to be met;

• explain how an SMSF’s status on Super Fund Lookup impacts whether an employer can make contributions to the fund;

• identify reportable super contributions and their impact on an individual; and

• apply their learnings to everyday client scenarios.

• recognise if and when an individual is able to claim a tax deduction for a contribution;

• analyse a client’s circumstances and determine (if relevant) whether or not they will need to meet the work test or qualify for a work test exemption;

• explain the notice requirements for personal deductible contributions; and

• apply their learnings to everyday client scenarios.

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

• explain why the Government offers tax concessions to encourage low income earners to save for their retirement via super;

• explain the Low Income Super Tax Offset and determine who is entitled to it;

• explain what is required to qualify for a Government co-contribution and how it is calculated;

• explain the tax offset which is available for individuals who make contributions for their spouse; and

• apply their learnings to everyday client scenarios.