ATO News: Changes to when the notice of compliance issuesFrom early March 2019, the timeframe for new self-managed super funds (SMSFs) to become 'Complying' on Super Fund Lookup (SFLU) will be shorter. Several days after registration, the fund will appear on SFLU as 'Registered – status not determined'. A few days later, the notice of compliance will issue and change the fund's status to 'Complying'. Previously, the change in status occurred when the fund lodged its first SMSF annual return. The shorter timeframe eliminates confusion about the status of the fund or its ability to accept employer super guarantee contributions or rollovers from another fund. This change will also impact SMSFs with a current status of 'Registered – status not determined'.
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Topics Technical Session: Audit of Funds with Pension members above Transfer Balance Cap Amount; Actuarial Certificate and Strategies: SMSF audit under the new regime of Contributions / Total Superannuation Balance Audit Tool: Do more with less time using an Online Audit Program Proposed Agenda 08.30 AM: Registration - Arrival Tea and Coffee 09.00 AM: Technical Session 11.00 AM: Tea/Coffee Break 11:30 AM: Introduction to Audit Online on SMSF Audit Software and Website integration 01:00 PM: Lunch and Group Discussion on Audit of funds with LRBA - Loan from related party - how repayment of Loan will be considered 02.00 PM: How to complete an audit in half the time by using online SMSF audit 04.30 PM: Seminar Closed
Introduction/Overview SMSF Auditors spend too much time in financial audit and completing manual audit working papers, our online software does most of this work automatically & saves half your time as compared to traditional auditing methods. It checks closing share prices, dividends received from ASX and all mundane tasks of signing, scanning & mailing of audit report, Mgt. letter, engagement letter, Invoice & contravention reports etc. are automated with one click of a mouse. Embrace an efficient framework for high quality audits and conduct audits on a flawless workflow Management system. Achieve peace of mind & confidence of knowing that you are using a completely up-to-date online checklist and cloud process to deliver a robust, hassle free top quality SMSF audit. Improve communication with accountants & trustees. Manage 20 or 2000 audits by streamlining workflow from our smart Audit Manager & establish seamless communication between all parties. Our online SMSF audit system is the only tool which can deliver reliability, speed and volume and ultimately profits for your business at a fraction of the cost. Benefits/learning outcomes Audit from anywhere, anytime from any device on your own website or by integrating with ours. Increase audit effectiveness, add value, reduce audit risk, drive SMSF compliance, revolutionise your business. Included in the fee is an account to audit 10 SMSF on the online platform worth $187 and Lunch. Those auditors who are already using the online software will benefit by learning new shortcuts and other advanced features of the online software. Recommended For All SMSF ASIC approved auditors. CPD Hours 2 Hours CPD in Superannuation and 4 Hours CPD on auditing SMSF's Total 6 CPD hours under self assessment method under RG 243.88 - 90 and SISA 128Q and SISR 9.04 RG 243.89 You will need to complete 120 hours of CPD over each three-year period, which must include 30 hours of development on superannuation and at least 8 hours of development on auditing SMSFs. SISR 9A.04 (3) (b) be development that could reasonably be expected to enhance an approved SMSF auditor's technical skills or professional service delivery. Attendee Requirements Attendees may bring their own Laptops / Ipads for a better understanding - although some attendees may get more from the workshop by looking at the facilitators screen
Speaker Mr Manoj Abichandani Manoj has worked in SMSF since 1988 and is SMSF Specialist (UNSW). He was providing high level advisory services to over 600 funds in his own 3 partner CPA tax practice for 19 years and has written this online software. He currently works as SMSF Technical Support Team Leader at www.trustdeed.com.au He has hands on knowledge on what happens in a tax practice on high level of SMSF practical issues.
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