Membership Fees for 2019 - 20

SMSF Auditors Association of Australia membership is open to only ASIC approved SMSF Auditors, it currently has 366 financial members.

How to pay your Membership Fees: Visit www.smsfaaa.com.au and log in - the system will take you to the payment area.

Memebers please note that all webinars booked from 1st July 2019 will have to be re-booked.

From 1st July 2019 - 30th June 2020 financial year $240 + GST per year (Fees are charged from month of joining to 30th June each year) The benefits of being a member of the association are :

1) Real time Online Chat with focus members (more experienced) on complex audit issues relating to your current audit. The chat button is after you log in to the website and if no focus members are online, your question is emailed to them for their response.

2) Attend 20 free webinars per year by various SMSF industry experts. For attending each webinar you should be able to claim 1 CPD hour in SMSF Audit. To book for any session, simply log in and go to webinar page.

3) Express opinion online, on various submissions which the association makes to the ATO, ASIC and Treasury.

4) As an Association, we are here to help & support our members in case they feel threatened, by unreasonable ASIC disqualification or ATO exerting un-due pressure on the good work which most our members do.

PAYG withholding reporting obligations due

If you have pay as you go (PAYG) withholding obligations in 2018–19 you must:

• - provide your member with a PAYG payment summary by 14 July 2019
• - lodge a PAYG withholding payment summary annual report with us by 14 August 2019.

You have PAYG withholding obligations for super benefits you pay to members who are:

• - under 60 and the benefit is an income stream (pension) or a lump sum
• - under 60 and the death benefit is a pension which is a capped defined benefit income stream where the deceased was 60 or over when they died
• - 60 or over and the benefit is a pension which is a capped defined benefit income stream

Capped defined benefit income streams include life expectancy and market linked pensions which were payable before 1 July 2017 and reversionary income streams paid to beneficiaries.

You must provide this information even where you are paying an income stream and the rate of withholding is nil. This allows us to ensure the individual pays the correct rate of tax once all their pension income from all their funds is taken into consideration.

Members who receive a capped defined benefit income stream can use our defined benefit income cap tool to help them calculate how much income they need to include in their assessable income for the 2018–19 year and where they need to include it.

Free Webinar for Members

SMSF Auditors Association of Australia 

Audit Issues for Paying member Benefits

By Lyn Formica | Head of SMSF Technical & Education Services | Heffron SMSF Solutions

When: 25/06/2019

Time : 2.00 PM To 3.00 PM

Cost: $0 for SMSF Auditiors Association Members

•  - The 1 July 2017 changes to the tax treatment of pensions mean more SMSF members are seeking access to their benefits in the form of a retirement phase pension. In this session Lyn will discuss:
• - Mechanics of the SIS retirement definitions – what are the auditor’s responsibilities
• - Refresher on the common and not so common conditions of release – what should an auditor be looking for & Loans to members vs early access benefit payments

SMSF Auditors Association of Australia Ltd

Schedule for 2019 Calendar Year

1) 5th Feb - What SMSF Auditors should do now to avoid being sued by Trustees  - By Grant Abbott | SMSF Author - Recorded Version available for members 

2) 19th Feb -When & When not to lodge a Contravention with ATO - By Manoj Abichandani | SMSF Technical Director | trustdeed.com.au

3) 19th March - Audit Issues when a member losses Capacity - By Clinton Jackson | Partner | Cooper Grace Ward Lawyers

4) 2nd April  - Audit Issues for the payment of Death Benefits - By Mark Wilkinson | Partner Superannuation | BDO Wealth Advisers 

5) 30th April -Yes, property development in an SMSF can be done BUT... - By Phil Broderick | Principal Sladen Legal

6) 14th May - Sole Purpose Test - By Chris Ketsakidis | Partner Corporate Advisory | Mills Oakley

7) 28th May -  Contributions to SMSF - Auditor's Prospective - By Mark Wilkinson | Partner Superannuation - BDO Private Wealth Advisers

8) 25th June -Audit Issues for Paying Member Benefits - By Lyn Formica | Head SMSF Technical Services | Heffron SMSF Solutions

9) 9th July - What SMSF auditors need to know about super proceeds & testamentary trusts - By Bryce Figot | Special Counsel DBA Lawyers

10) 23rd July -Validity of BDBN - What Auditors needs to check - By Rebecca van Langenberg | Special Counsel Madgwicks Lawyers

11) 6th Aug - Pension Documents: Auditor's prevention is better than any cure - By Scott Hay-Bartlem | Partner | Cooper Grace Ward Lawyers

12) 20th Aug - To Be Advised - By Peter Bobbin - Managing Principal | Argyle Lawyers

13) 3rd Sept  -In-House Assets - Audit of SMSF's that invest in Trusts - By Manoj Abichandani | Technical Director www.trustdeed.com.au

14) 17th Sept - Executor conflict of duty and death benefit payments from an SMSF - By Shaun Backhaus | Lawyer | DBA Lawyers

15) 1st Oct -SMSF Residency Issues - By Chris Ketsakidis | Partner Corporate Advisory | Mills Oakley

16) 15th Oct - To be Advised

17) 29th Oct - How GST applies to SMSF - By Mark Ellem | Executive Manager | Super Concepts

18) 12th Nov - SMSFs and Asset Protection - By Phil Broderick | Principal Sladen Legal

19) 26th Nov -To Be Advised - By Mark Wilkinson | Partner Superannuation - BDO Private Wealth Advisers

20) 10th Dec. - To be Advised