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Do SMSF wind ups get you wound up?

Death benefits & estate planning

$350.00 +GST

868 in stock

Audience

This event is recommended for accountants and auditors working with SMSFs.

Audience

Learning outcomes

  • Explain the steps in the process to wind up an SMSF;
  • Identify the implications of winding up an SMSF, including the treatment of an outstanding income and/or capital losses;
  • Evaluate whether an SMSF should be wound up and whether other members could utilise the fund;
  • Assess how an SMSF can be considered wound up in an income year despite it still having assets post year end.
Learning outcomes

Relevancy

This online workshop was recorded live 06/06/2023.

Relevancy

CPD hours

If claiming CPD hours, this course provides 3 Legislated CPD hours, the breakdown is as follows:

  • Technical competence: 1.5 CPD hours
  • Regulatory compliance and consumer protection: 1.5 CPD hours
CPD hours

At some stage an SMSF comes to the end of its life cycle and there is a requirement to wind it up. Figures taken from the ATO’s March 2022 quarterly statistical report shows that wind ups of SMSFs over the 2018-19 to 2020-21 income years averaged at around the 15,000 per annum mark. 

Whilst the concept of winding up an SMSF sounds simple, there are many issues, both compliance and taxation, that need to be considered. Winding up a SMSF is not something that is left for the accountant to tidy up after the fact. There are a number of parties that need to be involved in the wind up process, including the Accountant, Adviser, Lawyer and yes, even the trustees. 

In this workshop we review the obligations of trustees and their advisers in the wind up process and will consider the superannuation compliance issues as well as providing some practical tips to help with the wind up process. In addition to reviewing the rules applicable to winding up an SMSF we will consider a number of practical case studies. 

 

Mark Ellem Accurium Education

Presented by

Mark Ellem
Head of Education
Accurium
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Terms and Conditions
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