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Superannuation - Cutting edge strategies

Published on 06 Aug 2012 | Took place at Hilton Adeleide , SA

    Recognising the important place which the self-managed superannuation sector inhabits in the current environment, this seminar focused on recent legislative and other changes as well as on leading edge strategies for managing all layers of the life cycle of the SMSF vehicle. This ranges from a focus on the front end funding/contribution strategies and the end of the life cycle which has come under so much more scrutiny with the ATO's recent ruling on the tax issues raised by income stream benefits.

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Individual sessions

The changing SMSF environment

Author(s):  Tim Miller

This paper covers recent Government announcements affecting the Superannuation industry. The sum of all these changes means that advisers are faced with a changing landscape entailing both compliance obligations as well as planning obligations. Specific topics covered include:

  • TR 2011/D3
  • New Super Guarantee Rates
  • Higher concessional contributions cap for over 50s deferred to 1 July 2014
  • Dealing with Excess Contributions Tax
  • FOFA - The Accountants' exemption
  • Superannuation contributions tax to double to 30% for incomes above $300,000
  • Update to PSLA 2009/1 In-house Assets
  • Collectables and Personal Use assets
  • New SMSF member verification system
  • Off-market transfers  between SMSFs and related parties
  • Net Market Valuation for annual reporting purposes
  • Dealing with insurance in SMSFs.
Materials from this session:

Positive outcomes from superannuation contributions

Author(s):  Tony SIMMONS

This paper looks at superannuation contributions in a more positive light and looks at ways and means of maximising contribution capabilities. Appropriate case studies are included to illustrate the benefits of these strategies. Topics covered include:

  • Contribution capabilities with constitutionally protected funds
  • Contributions using the small business concessions and contributions from personal injury settlement
  • Using contribution reserves to gain benefits without excess contributions tax; ATOID 2012/16
  • How to deliberately exceed the concessional contributions cap to the benefit of your client
  • Increase value in the fund by using acceptable gearing strategies.
Materials from this session:

Approaching the end of the SMSF life-cycle

Author(s):  Daniel JENKINSON

This paper explores some important and often overlooked issues in connection with planning for the end of the SMSF life-cycle, including issues around estate planning, the transfer of assets and control of an SMSF on the death of a member, and either maintaining or unravelling investment structures to achieve the desired outcomes. Topics covered include:

  • Migration of value to next generation family members - dealing with illiquid assets
  • Utilising death and disablement insurance
  • Issues with the interface between death benefit nominations and reversionary income streams
  • Traps for binding death benefit nominations
  • Use of powers of attorney to extend the life of the fund
  • Dealing with control of an SMSF following the death of the principal member.
Materials from this session:

SMSF pensions: Achieving optimal outcomes

Author(s):  Matthew Andruchowycz

Since the ATO's release of 2011/D3 last year the superannuation industry has had its attention drawn to the importance of how superannuation income stream benefit design is managed together with the associated tax issues. This paper focuses on the myriad of issues which are raised when a SMSF commits to pay an income stream benefit. Topics covered include:

  • Commencing and documenting pensions
  • When does a pension teminate?
  • Reversionary pensions
  • Tax ramifications of commencement and termination
  • Pensions strategies; multiple superannuation interests, blended families, transition to retirement, managing taxable and tax free components, asset segregation and commutation of defined benefits pensions.
Materials from this session:

Unlocking the value of SMSFs in acquisitions and business restructures

Author(s):  Peter SLEGERS,  Andrew SINCLAIR

This paper reviews the latest issues arising in SMSF structuring and restructuring transactions with a focus on business real property. Practical case studies will be provided to highlight the various technical issues as well as the pitfalls and opportunities of a variety of SMSF strategies.

Topics covered include:

  • the use and abuse of special purpose unit trusts/companies (reg. 13.22C)
  • application of non-arm's length income provisions when private companies pay dividends to SMSFs 
  • update on Limited Recourse Borrowing Arrangements and finalised SMSFR 2012/11
  • the use of geared unit trusts without infringing the in-house asset rule
  • in specie distributions from SMSFs - tax and stamp duty issues.
Materials from this session: