Co-author by Joseph Cheung, Lawyer, DBA Lawyers
We have been busy making sure our SMSF documents and training are up to date with the latest super reforms and strategies.
Not surprisingly we continue to come across many SMSF documents recently acquired elsewhere that have not been updated with the recent reforms. Naturally, if you are ordering SMSF documents elsewhere, you should seek confirmation that their documents and training reflect the latest super changes that are now law.
This article summarises some key resources we offer in relation to the superannuation reforms which largely commence from 1 July 2017.
New SMSF and SMSF Deed Updates
We updated our SMSF deed, PDS and related documents in late 2016 for the super reform measures that were largely reflected in the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (Cth) which was finalised as law in late November 2016.
To place an online order for a new SMSF or SMSF deed update, visit https://online.dbalawyers.com.au/login.
Pension and related documents
We have also updated the following documents:
- Account-Based Pension (‘ABP’) documents
- Transition to Retirement Income Stream (‘TRIS’) documents
- Conversion of a TRIS to an ABP documents
- Full/Partial Commutation documents
For new pensions and conversions (TRIS to ABP), our Pension PDS provides a detailed explanation of the transfer balance cap, loss of tax exemption for the TRIS and much more. Unless a PDS is provided, a contravention of the Corporations Act 2001 (Cth) can readily occur. Moreover, a PDS provides an adviser who does not have an Australian financial services licence added protection provided the PDS complies with the law and provides balanced factual advice and does not provide financial product advice (or a ‘product spin document’ as some do). For further information or to place an order, you can email us at [email protected].
CGT Relief Kit for SMSFs (New kit – available from 20 March 2017)
This kit is designed to assist SMSF trustees and advisers with practical guidance and documents to implement the transitional capital gains tax (‘CGT’) relief for SMSF trustees that can reset the cost base of assets. This kit includes checklists, resolutions and a detailed memo on the CGT relief measures including analysis and resolutions relating to both the segregated and unsegregated (proportionate) methods.
For further information or to place an order click here.
Training — DBA Network
To provide a total SMSF CPD solution for the super reform measures, DBA Network Pty Ltd provides the following super reform training resources.
Super Reform Webinar Series (delivery format: recorded webinars)
DBA Network has recorded five webinars that can be viewed at any time. Each of these webinars drill down into the detail and strategies that advisers must be on top of leading up to and after 30 June 2017.
- Super Reform Overview — recorded in Dec 2016
- Pension & TRIS strategies — recorded in Feb 2017
- Contribution strategies — recorded in Feb 2017
- Legacy pension strategies — recorded in Feb 2017
- Estate and succession planning strategies — recorded in Feb 2017
To register for viewing the recorded webinars and for more information click here.
SMSF Strategy Seminars — March 2017 (delivery format: face-to-face in 8 locations)
DBA Network’s next SMSF Strategy Seminar series will be held around Australia throughout March 2017. The material provides the best guidance on strategies pre-July and post-June 2017 to make it easy for advisers to implement from a practical perspective including:
- Budget and the latest super reform — the very latest reform developments and strategies
- Impact on SMSF succession and estate planning resulting from the super reform measures
- SMSF update
This seminar series will be presented by Daniel Butler, Director who has been heavily involved with the super reform consultation process and includes Launceston (8 March), Adelaide (9 March), Perth (10 March), Newcastle (14 March), Sydney (15 March), Brisbane (16 March), Melbourne (17 March) and Ballarat (22 March). For more information or to register click here.
SMSF Core Course (delivery format: Recorded webinar and/or next two-day face-to-face workshop on 20-21 July 2017)
The online SMSF Core Course covers 10 key units of SMSF core knowledge, providing intensive materials and video training on each topic. This course is a great way to provide the foundation training and technical skills in view of the reformed super system and reflects the latest super reforms. For more information or to register click here.
We have many detailed technical articles on the recent super reforms on our website and regularly add newsfeed articles updating you on the latest news, viewpoints and strategies on SMSF law. Our articles aim to explain the law and provide practical tips and examples. To view our latest articles click here.
Tailored advice and solutions – our Lawyers
Our lawyers are happy to assist your needs and provide the best SMSF assistance and advice. We are happy to assist in any technical or legal matter relating to SMSF law and can provide tailored and quality solutions.
We have a hardworking and dedicated team of lawyers. Recently, Daniel Butler and Bryce Figot presented at a number of leading SMSF industry seminars and have also presented at the University of Melbourne’s Masters of Laws program on the taxation of SMSFs.
To contact us, please call (03) 9092 9400 or email us at [email protected].
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