A stocktake of changes for SMSFs.  
We will start the day with a review of the changes that apply to the 2023-24 financial year. We’ll provide our view on what will be the focus areas for SMSF Auditors and the ATO. We’ll also update you with any changes for the 2024-25 and following financial years.  

Time to get NALI  
The amnesty is over! 2023-24 is the first year that the new rules for applying non-arm’s length expenditure of a general nature applies. We will review the NALI rules and focus on their application for 2023-24, including practical tips for identifying SMSFs with NALI risk and the options available.  

Maximising ECPI  
From the ATO’s annual 2021-22 SMSF statistics 35.2% of all SMSFs were wholly in retirement phase and a further 9.4% were in partial accumulation and retirement phase. This gives rise to substantial claims by SMSFs for exempt current pension income (ECPI) and in turn close scrutiny by the ATO. In this session we will consider the accountants approach to claiming ECPI and the methods available. What can you do to ensure the maximum ECPI claim is made by the fund?  

The SMSF compliance risk areas  
What are the compliance risk areas for SMSFs that the ATO is concerned with? From in-house assets to providing financial assistance to members and illegal early access, we will look at the common errors made and how they can be addressed to minimise adverse consequences.  

Reality SMSF TV  
We will share with you some of the questions submitted to Accurium concerning preparation of annual financial statements, the SMSF annual return and auditing. Unlike most reality TV shows (allegedly), these scenarios are not made-up, contrived, or scripted – they are real questions from those working with SMSFs. We will run through a selection of questions and explore solutions.  

Agenda subject to change.