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Related Parties - what complex strategies are people putting in place to avoid related party transactions?
If it looks like a duck and quacks like a duck, surely it's a duck … but does that hold true in the complex world of related parties? Unravelling the related party maze and strategies to stay out of trouble We've all been there – we think we've got a pretty good grasp on the related party rules, but every now and then we're thrown a doozy and initial appearances may be deceiving. We'll workshop various SMSF client scenarios to ascertain whether an SMSF is or isn't transacting with a related party and analyse at what points in time it actually matters. When do you want a related party relationship vs when do you not? What strategies can be employed to ensure the SMSF complies with the super law? What do you do when circumstances change? And if you come across a problem, what can you do to fix it?
What role should SMSFs play in Australia's superannuation system?
With the intense focus on the Australian Superannuation System created by the Productivity Commission Review of Superannuation, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and a looming Federal election, it is the perfect time to consider how SMSFs fit in to the Australian superannuation landscape. The status quo of who SMSFs are appropriate for and for what reason they are established is being challenged by these regulatory forces. A panel of superannuation industry experts and thought leaders will discuss their thoughts on the role of SMSFs going forward and how they may be impacted by the current regulatory pressures facing the superannuation system. This breakfast will give you insight into where the SMSF sector is heading and how that may affect your business and clients.
This pre-session will examine the current environment in which investment decisions are being made for SMSFs and consider the impact of market volatility on SMSF and strategies for managing it.
This pre-session will take a broad look at the environment in which SMSFs are operating and what are the key trends, opportunities and risks that will affect SMSF business in the next 5-10 years.
Over a year on from the implementation of the super changes, we are still dealing with the repercussions of those sweeping reforms of 2017. Even as new challenges - such as FASEA, the Royal Commission, federal policy and increased scrutiny - present themselves, our technical expertise continues to be tested as we manage the implications of TBAR, TBC and many other regulatory changes and ATO announcements. This session will look at the key regulatory issues of today, including signposting the sessions that will help you come to grips with the fundamental reforms we have been living with.
In this session, Liam Shorte will interview Kate Metz from ASIC and examine what's on ASIC's radar and discuss ASIC's recent work on SMSFs including an indepth look at Report 575 (Improving the quality of advice and member experiences).
How many members is a good idea?
The (potential) increase in the number of SMSF members from 4 to 6 may seem just like a counting exercise. However, it's far more wide reaching than that. It will impact on the type of trustee, the trust deed, voting by members and trustees as well as on the fund administration and regulatory obligations. Then there's the impact on the fund's investments, benefit payments and making sure members are able to move out of the fund if circumstances warrant. During this session Tim and Graeme will identify the pros and cons of a 6 member SMSF to help you provide an objective view for clients. They will focus on key concepts and talk you though the issues involved.
With the industry changing and evolving it's important to shape your practice to be an SMSF firm of the future. Get on board or risk being left behind as ATO evolution and legislative change forces you to re-think the way you operate. This session will explain how to run an SMSF firm of the future... With the introduction of Event Based Reporting by the Australian Taxation Office – most accounting practices are faced with the problem of transitioning the traditional year-end approach to SMSF processing to more frequent, interim updating to facilitate ongoing superannuation requirements. This session provides Accountants with a practical overview on transitioning a traditional accounting practice into an automated and efficient operation, including: - Tips on transitioning to daily or monthly processing; - Tricks to obtaining data feeds and other SMSF information; - Software considerations; - How to increase efficiency and reduce time at year-end; - How to use audit comfort letters to your benefit; - Taking a material approach to managed funds; - Communicating efficiently with your clients; - Transitioning to electronic signing and security; - Transitioning your clients to progressive billing during the financial year (bringing forward revenue); - Transitioning to a direct debit billing approach where you are control of when and how you bill your clients. This session is presented by highly experienced SMSF Specialists with experience running volume based business models.
This interactive session will explore the hot topic on every auditor's lips – the repercussions of the recent Cam & Bear v McGoldrick and Ryan Wealth Holdings v Baumgartner cases on an auditor's responsibilities, work and practice. Set in discussion format in groups of 10 and led by esteemed lawyer Heather Gray of Hall & Wilcox, we will first examine what the cases mean from a legal context; including what happened, what didn't happen and what – if any – precedents were set. Our panellists will then explore their interpretation of the practical impact on an auditor's work as well as the repercussions for the sector. The session will encourage the audience to share their own perspectives of how their business is operating in light of these two cases to provide a variety of different examples of how peers are dealing with shared challenges and how an auditing professional can put their best foot forward.
Whether your client has been living with disability since birth or you would like to be better prepared should your client experience illness or injury that leads to disability - this session is for you. Families often look to professional advisors for guidance and if you haven't had to delve in, do the research and consider the issues for SMSFs it may feel overwhelming. Come along to hear about some of the issues and tips just in case you experience new or existing clients who wish to establish a new SMSF or continue to operate an SMSF where members are living with disability.
This session will examine issues that can arise when SMSFs carry on property development, including: whether an SMSF can carry on a property development, the ATO's current views, SIS Act and Tax Act considerations, different ways to structure an SMSF property development and issues arising out of the use of related builders.
Statements from the ASIC noting that "nine out of ten pieces of SMSF advice reviewed by ASIC across 137 difference licences did not comply with the best interest duty" – raises concerns about the SMSF advice process and documentation. This presentation will focus on a realistic approach on how to deliver and prepare a compliant SOA and complete client file, to ensure that your advice is in the clients best interest and that you have a defendable client file.
For many years the focus on SMSF documents has been on binding death benefit nominations. More recently however, the cases have revolved about the effectiveness of other SMSF documentation such as changes of trustee, deed variations and pension documents, and these are fast becoming the newest form of estate dispute. With the incidence of fights involving those sort of documents increasing, will your SMSF documents stand the test? This workshop will examine the recent cases and the lessons to be learned from them, common mistakes and how not to make them, what can go wrong when everything does not line up, what to look for and how to fix it.
Getting ahead of FASEA - what do you need to do now?
This session will examine the FASEA requirements with the view to: • Identify education pathways for bridging courses for different categories of advisers • Detail what advisers can expect in terms of the subject content for these bridging courses • Provide detail around the compulsory examination process for all licensed advisers • Outline ways in which the SMSF Association can assist members with educational resources in the transition to this new regime The session will also outline the enhancements to the Continuing Professional Development program of the Association being introduced over the course of the next six months, including: • An enhanced SSA pathways program • An extended education pathway for all members from those seeking specific subject matter information to those wanting formal educational qualifications • Details of a different approach to our CPD program"
Spouse equalisation strategies - is it worth it?
Spouse equalisation strategies have become more popular since the introduction of super reform. In this presentation, we'll examine how to best equalise superannuation balances in a total super balance and transfer balance cap environment, including potential benefits and pitfalls.
Obstacles in SMSF regulation: What affects technology in your practice?
Come along to this case study based session to test your knowledge of what you may need to think about and do following the death of a client. The case studies explore both pre and post death strategies and cover a range of issues, including: • death benefit rollovers - the tips and traps • reversionary pensions, death, CGT and asset segregation • practical transfer balance account valuation issues • younger surviving spouses, insurance and death benefit income streams.
In this session a panel of superannuation policy experts will discuss the policy challenges ahead of the superannuation sector, with an emphasis on effect for SMSFs and their advisers. This session will discuss and look to forecast the path ahead for superannuation and financial advice policy and will include issues such as the Financial Services Royal Commission, the Productivity Commission report on superannuation, ASIC's views on SMSF advice, FASEA standards and what a potential change of Government could mean for SMSFs and superannuation.
Join Rebecca van Langenberg as she discusses the implications of recent SMSF case law to you and your clients. With specific attention given to high profile cases Aussiegolfa, Cam & Bear v McGoldrick, Baumgartner and Narumon, she will take us through the practical fall-out of their findings so that you can use this knowledge to prepare and protect your clients in their SMSF management. This session is targeted to all SMSF professionals regardless of occupation. We recommend auditors wanting a deep dive into the business implications of Cam & Bear v McGoldrick and Baumgartner on audit practices also attend Concurrent 1D.
The Transfer Balance Cap is now enshrined in our businesses and requires substantial consideration for our clients as part of their retirement planning, estate planning and meeting their living needs. Once a pension is commenced doesn't mean there are no further matters to resolve with respect to such a pension, and this session will consider in detail the issues to review and strategies to consider to optimise pensions for our clients.
With the contributions landscape being turned on its head from 1 July 2017, the CGT cap presents an ideal opportunity for clients to boost their superannuation savings. However, a combination of the complexity of the conditions to access the concessions and the one-off nature of selling a business means that it is often difficult to clearly identify and assess opportunities to boosting superannuation using the CGT cap. This workshop will review the various strategies available for maximising the CGT cap, common mistakes made when determining eligibility to the concessions and whether the CGT cap trumps buying business premises using an SMSF.
The ATO has been focusing on related party transactions and Non-Arm's Length Income (NALI) for some time and the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 has been introduced, to extend NALI to include where the SMSF has entered into an arrangement where the parties are not dealing at arm's length. This session will examine the NALI provisions as they relate to: •	Related party services or functions provided to an SMSF; •	Property, including Limited Recourse Borrowing Arrangements (LRBAs); •	Income received via trusts; and •	Much, much more!
Contributing to super has never been about changing levels in caps. It's about maximising outcomes for retirement, and the higher your inputs, the better the chance of a higher output. But are the rules about contributions that simple? Let's grab a spoonful of sugar and apply the appropriate medicine to understand how contributions work in the new world of super.
With the ATO reporting requirements in place for Transfer Balance Cap purposes, it is important that the appropriate processes and procedures are in place in our businesses to ensure that the practical side of starting, stopping and managing pensions for our clients is undertaken correctly. Once a pension is commenced doesn't mean there is no further reporting, valuation considerations or administration regarding the pension. This session will outline the practical considerations with respect to pensions for our clients.
Related parties: who are they? And just as importantly, who aren't they? And why do we care?
Identifying the related parties of an SMSF is often quite complex given the familial, business and financial arrangements our SMSF members have with other parties. What are the rules about related parties? Who and what is included, versus excluded? At times we're fronted with a seemingly never ending sea of relationships - at what point do you stop drilling down? And why do we care so much about SMSFs and related parties? When can an SMSF transact with a related party and what rules need to be complied with in order to do so?
From 1 January 2006, an SMSF cannot commence a new defined benefit pension. However, many SMSFs do still have members who are being paid defined benefit pensions, some with significant capital backing them. With the aging of these members, many advisers, practitioners and dependants are finding out, too late, the estate planning problems and nasty tax consequences that arise after a member dies or the term of the pension comes to an end. This session will consider: •	The estate planning and tax consequences where a member with a defined benefit pension dies and there is remaining pension capital; •	What happens when a life expectancy (fixed term) pension ends; & •	The options for restructuring a defined benefit pension, prior to a member's death or the end of the pension term, to have a better estate planning outcome, including consideration of the TBC. This session will be presented from the view of an Actuary and an administrator. The next session (Concurrent 7B) will consider how any reserves left, after the cessation of a defined benefit pension, can be dealt with.
Risk and return are fundamental principles of an SMSF investment strategy. When designing portfolios to last a client's lifetime, longevity risk and sequencing risk are two key pillars. But frailty risk and the high potential need for aged care is often ignored. This session provides: •	A portfolio construction approach to manage frailty risk •	An understanding of why aged care is important and the value for clients in planning ahead •	Guidelines for client conversations and customer retention •	How to resource your business for aged care advice.
Litigation Liability Floodgate is Open; is your SMSF client checklist robust or so so?
New clients are exciting…..and a worry! But why are they moving? What went wrong with their last advisor? Newbies are new to everything? Is SMSF right for them? Are they right for you? Today's market volatility is underpinned by superannuation-law volatility and interpersonal relationship volatility, with everyone is looking to blame someone. The first in the litigation liability firing sight is the insured professional. The first line of defence is the on boarding client process; your due diligence in clearly documenting the expectations and status of your relationship with; the trustees, the members, other service professionals and potentially the dependents. Expectation matching is essential, you of them and them of you. If you work with others, who will bear the expectation gaps? Too often, the graveyard of case law shows us that it is misaligned expectations that leads to legal liability. Peter Bobbin will walk you through a robust onboarding process for new SMSF clients, one that is designed by you for your business and protects you, your business and your clients. The risks are not obvious but the robust checklist can be. Peter will cover what you can, what you should and what you must know. Documenting it is essential. Bring your business client engagement process with you and checklist this with Peter's do's and don'ts, Peter will address SMSF client onboarding including specific reference to succession and estate planning, investments and related parties, taxation and trustee comprehension and how you will work with multi-member funds, and more.
Dealing with reserves in an SMSF - are they in the starting line up or left on the bench?
With a federal election on the horizon and the possibility of the loss of franking credit refunds looming large should Labor be elected, it is worthwhile to take the time to consider what this means for our clients' investment portfolios. Franking credit refunds can constitute up to 30% of the investment returns of Australian Franked Shares for retired SMSF trustees, and this loss will make a practical difference to their income should the policy be introduced. In light of this context, this session will consider ways to make up this shortfall by maximising investment portfolios to achieve higher returns. Taking into account the current markets and the macroeconomic trends that are affecting the global economy, this session will explore the prospects of international equities and bonds as areas of opportunity to maximise returns.
Many of us want to focus more on innovation and improving our business, but find that it just doesn't happen. What goes wrong? What factors stop us from being innovative, and how can we overcome them? In this informative and entertaining keynote former host of "The New Inventors" and innovation expert James O'Loghlin will explain what the 6 most common barriers to innovation are, and how to overcome each one and ensure that making your business better becomes a part of your work every day.
What does the Royal Commission mean for financial services in Australia?
The Royal Commission's final report is due to be released on 1 February 2019 and the SMSF Association National Conference will be the first major financial services conference to analyse the report. This session will explore how the Royal Commission could impact financial services and SMSFs. The top 5 burning questions you'll get an answer to are: 1. How will financial advisers be impacted by the Royal Commission? 2. Will the AFSL model change? 3. Will the vertically integrated financial services company be a thing of the past? 4. What are the impacts on SMSFs? 5. How will the Royal Commission impact the financial system regulators? Join respected industry expert Jeremy Cooper and The Australian's Wealth Editor, James Kirby, as they conduct a deep-dive analysis of the report and unravel the potential consequences of the report's recommendations and what this may mean for you as a financial advisor and for your clients.
For professionals dealing with SMSFs in retirement phase it is more important than ever to understand the rules and regulations governing exempt current pension income. The super reforms introduced additional complexities that mean ECPI is no longer solely a consideration for the fund accountant at year end, but is something that advisers and accountants must consider in advance when setting fund strategy. This session will dive deep into ECPI and segregation to provide you with all you need to know to think strategically around ECPI. We will cover: -	Eligibility to claim ECPI, the two available methods and when they must be used -	Actuarial requirements and calculation of the exempt income calculation -	Disregarded small fund assets, deemed segregation and elected segregation -	The impact of ECPI and segregation on recognising capital gains and losses, deductibility of expenses and utilising carried forward tax losses. We recommend attending this session prior to attending Session 9A which will consider strategies for how financial advice provided to SMSFs and tax planning can account for ECPI and segregation to optimise tax outcomes and simplify administration for a client.
We often receive meeting requests from clients - existing or new (such as Jack or Jack Jr) - to discuss a new investment option they have identified. They either know what they want (or do they?) or they just want to do something. As practitioners, how do we evaluate them as clients, what they want or what they want to achieve? Probably more importantly, how do we determine "what is best" for them and how to structure the transaction? This will be a practical session of one adviser's overview of a client's circumstances, an assessment of some of the issues which may arise and possible outcomes. There is no right or wrong answer, but failing to consider issues can result in an administrative or investment nightmare for the client. We will assume a basic understanding of the operation of various structures.
Business Practicum - How prepared are you for the future of SMSF?
The SMSF sector is at a critical junction, impacted by an ever-changing landscape of legislative reforms, regulatory changes and the exponential advancements of technology. With the potential of a change of Government, the SMSF sector may again be confronted with fresh challenges, having already transitioned clients through the measures at 1 July 2017. Therefore, how we respond as an industry is more crucial than ever before. This requires us to assess the many aspects of the sector – from the appropriateness of policy settings today through to how well practices are transitioning their business models to serve the needs of current and future SMSF members. In part 1 of 2 in this practicum, Aaron shares key insights into the SMSF sector today, helping you to ascertain how your practice compares with others in the field. Looking at insights from the Future of SMSF report, Aaron will explore details on service delivery, pricing models, business growth, the use of technology, key challenges and opportunities to drive growth. With the future of SMSF going to look very different from where it is today, Aaron will be challenging practitioners to change their thinking towards their SMSF business model in order to succeed into the future.
Since 1 July 2017 correctly determining whether your client has actually retired (within the meaning of the SIS regs) is critical. However, there is much misinformation. Attendees at this session will learn the five things everyone gets wrong, master the definition of 'retirement' and its nuances, as well as learn about new opportunities that most miss!
Using case studies this session will highlight how important it is to plan ahead for ECPI and segregation as part of both the advice and accounting processes for an SMSF. We will highlight issues that can occur where advice does not take account of ECPI and the advice opportunities that exist for improving client outcomes. We will use real life case studies to examine from an actuarial, administration and advice perspective how a strategic wrong turn can mean additional compliance cost and poor tax outcomes for the client and what you can do to avoid those issues when providing financial advice. We will work through case studies to identify compliance considerations that will be important for the fund adviser and accountant to understand. Then look for opportunities for how advice can reduce administration costs and maximise ECPI. In particular we will consider strategies that look at some key events, which occur when providing retirement phase advice to SMSF retirees -	Selling assets and realising capital gains or losses at retirement -	Taking a large payment from the SMSF -	TRIS conversion to retirement phase -	Receiving an inheritance, contribution and pension strategies -	Managing liquidity for funds with large assets when in pension phase This session will assume knowledge of the rules and regulations for ECPI and segregation. We recommend attending Session 8A that will cover in detail the technical knowledge required to understand and implement the strategies considered in this session.
Having gained insights into the challenges and opportunities within the SMSF sector, part 2 of this practicum will see Aaron take you through the recipe required for building a successful SMSF business. This interactive session provides you with the opportunity to assess your current model by understanding the key drivers of high performing SMSF businesses today, and importantly how you need to respond in this ever-changing landscape on to achieve success into the future.
After two and a half days of technical learning and practice, this relaxed discussion will consolidate the key takeaways our expert panel took from the sessions they attended and encourage you to consider what lessons and perspectives you found most valuable to take back to your desk.
"Really enjoyed the conference, first time attending in a few years, will be going to the conference in Melbourne 2019."
"...was one of the best conferences I have attended."
"This was the best conference content for the last 3 years."
Showcase your brand and enjoy excellent networking opportunities at the SMSF Association National Conference 2019.
Thank you to all our sponsors, in particular our platinum sponsors for their support.
Delegates are entitled to SMSF Association CPD points for attending the SMSF Association National Conference 2019 - details coming soon. As a guide, in 2018 delegates received up to 23 CPD points.
Delegates will be given the opportunity to download a copy of the speaker presentations and technical papers as soon as possible prior to the conference. These can be printed or saved to digital devices if you wish to have them with you at the conference.
Due to the highly technical nature of the content and the speaker's desire for the most up to date information in these presentations & technical papers, download links are normally only issued one week prior to the event.
Please note the presentations and technical papers will also be available via the conference app.
You are strongly advised to secure appropriate travel and health insurance. Delegate registration fees do not provide any such insurance coverage. The SMSF Association and the Conference Office accept no responsibility for any loss in this regard.
All Conference Registration Fees and Additional Ticket rates are quoted in Australian Dollars and are inclusive of GST.
The SMSF Association is committed to maintaining the privacy of the individuals with whom we work, or come in contact with during our work. We are committed to continued compliance with the National Privacy Principles, and enforce our policies, procedures and compliance to our staff, officers and contractors.
Information requested and provided on conference online forms will be used for the primary purpose for which it is collected and for such other secondary purposes that are related to the primary purpose and are reasonably expected, or for which consent has been given.
As a participant of the SMSF Association National Conference 2019 your image or voice may be recorded via video, photograph or by any other means ("recorded") by an officer or official of the SMSF Association National Conference 2019, and may be distributed or published at the discretion of the SMSF Association. If you do not wish to be recorded, you are required to formally advise the SMSF Association National Conference 2019.
Members who have not renewed their membership for the 2018/19 membership year may not re-join at pro-rata membership rates and participate in the early bird registration, or take advantage of the National Conference Registration + Membership Special Offer. If you wish to access early bird registration rates you must renew your 2018/19 membership in full. Contact Member Services on (08) 8205 1950.
Registration cancellations received up to 5.30pm CST (Adelaide) 30 days before the Conference (on or before Friday 18 January 2019) may be eligible to receive a full refund less AU$230 administration fee.
Any cancellation received less than 30 days prior to the Conference (Saturday 19 January 2019 onwards) will not be eligible to receive a refund.
A credit may be held to be applied to any other SMSF Association event (not membership fees) however this is subject to approval.
NOTE: Any applicable refund will be returned via the same payment method as the original receipt of funds.
Hotels impose strict cancellation policies and may charge 100% cancellation fee within 30 days. Please refer to the individual hotel cancellation policies. Any amendments to original hotel bookings must be forwarded in writing to the Conference Office.
Hotels impose strict cancellation policies and may charge 100% cancellation fee within 30 days. Any amendments to original hotel bookings must be forwarded in writing to the Conference Office. Please refer to the individual hotel cancellation policies which can be found under more details.