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ATO News: Changes to when the notice of compliance issues

From early March 2019, the timeframe for new self-managed super funds (SMSFs) to become 'Complying' on Super Fund LookupExternal Link (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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Venue:

 

Adelaide 28 Feb 2019 - Stamford Plaza 

Melbourne: 14 March 2019 - Stamford Plaza

Parramatta: 28 March 2019 - Novatel

Perth :11 Apr 2019 Perth - Pan Pacific 207 Adelaide Terrace

Brisbane: 02 May 2019 - Sheraton Four Points 

Sydney: 06th June 2019 - Hilton CBD

Timings: 9:00 am to 04:30 pm

 

Cost: The fee for seminar is $165 Incl. GST and is tax deductible(Plus Travel) - Includes 10 Free Audits worth $187

 

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.

Download Features Booklet

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

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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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