SMSF compliance essentials (Online)
This online workshop will run for two half days on 13 and 14 September 2022, please refer to the agenda (below) for more information.
Self-managed superannuation funds are complex and operate in a fast-changing environment which is why it’s important to keep up-to-date with the latest changes impacting the 2022 SMSF compliance season and preparation of 2021-22 annual financial statements and return.
This online workshop will provide you with 6 CPD hours and discuss the most up-to-date information and learnings to ensure that you minimise your clients compliance risks and avoid lodging an incorrect return. It will also consider what you can do to make the SMSF audit process as less frustrating as possible, for you, the SMSF trustee(s) and the SMSF auditor.
The online workshop will cover:
- What’s new in the 2022 SMSF annual return.
- The two components of an SMSF’s taxable income and how each of them are disclosed in the annual return.
- The changes to calculating exempt current pension income (ECPI) for 2021-22.
- When an SMSF will have non-arm’s length income and how it will be disclosed.
- Disclosing member benefit correctly to ensure a correct calculation of total superannuation balance.
- SMSF accounting disclosure issues for income, expenses, limited recourse borrowing arrangements and the case for and against tax effect accounting.
- Dealing with CGT events and deferred notional gains from 2016-17.
Materials to be included:
- Copy of slides for each session.
- Technical notes for each session, including practical examples.
- SMSF auditor pre-audit submission checklist
- Worksheets for claiming ECPI
- Recordings available after the online workshop