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Free Webinar for members - SMSF Auditors Association of Australia

 

"Audit Issues for the payment of Death Benefits"  

By Mark Wilkinson | Partner Superannuation | BDO Private Wealth Advisors

 

This presentation is going to explore compliance issues and what an SMSF Auditor needs to check if the deceased was in Accumulation or in Pension Phase at the time of death. If Pensions are reversionary, upon death, the beneficiary needs to manage their own Transfer Balance Account before accepting these death benefits as pensions - breaching the transfer balance cap may result the fund claiming a highter tax exemption and as a result this issue becomes a major audit risk.  

  • Death Benefits can be paid as a Lump Sum or as an Income Stream, legislation requires them to be paid as soon as practical.

  • This webinar will explore payment of death benefits in detail to ensure and that you are armed with the know how to properly assess these issues when undertaking an SMSF audit.

 
  • Webinar Details:
  • Date : 2nd April  2019 (Tuesday)
  • Time: 2:00 PM To 3:00 PM 
  • How To Book: https://www.smsfaaa.com.au/Home/Webinar
  • CPD Hours : 1 Hour CPD in SMSF Audit

Speaker : Mark Wilkinson | Partner Superannuation | BDO Private Wealth Advisors

Mark is a superannuation partner in our business services team in BDO’s Sydney office and an authorised representative of BDO Private Wealth Advisers (East Coast) Pty Ltd.

He is one of the leading members of the BDO Superannuation team in Australia and has been providing superannuation and retirement planning advice for more than 30 years.

As a superannuation specialist, Mark provides strategic superannuation advice on how the State and Federal legislation impact on the areas of superannuation, retirement, estate and succession planning for clients as they build their wealth en route to retirement.

Mark knows how an SMSF structure can be used as an effective part of a business group, as an exit strategy, as a growth strategy, and how to undertake various property transactions including borrowing within the SMSF environment. Licensed to provide superannuation advice, he advises on SMSF establishment, contribution planning strategies, pension planning advice, estate planning and consulting regarding Superannuation Industry Supervision Act Compliance issues.

Mark is a sought after national public speaker on superannuation and retirement, in-house trainer for large clients and accounting firms and an acknowledged industry specialist in the area of self-managed superannuation consulting.

T 61 2 9251 4100       M 61 419 260 437       E mark.wilkinson@bdo.com.au

 
 
 
 

 

SMSF Auditors Association of Australia Ltd

 

Schedule for 2019 Calendar Year

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

SMSF Auditors Association of Australia membership is open to only ASIC approved SMSF Auditors, it currently has 319 financial members.

Membership of the Association is $10 + GST per month and is paid in advance to June each year. 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.

 

 

 

CPD Requirement for SMSF Auditors

T    SIS Regulations 9A.04

(1)  For paragraph 128F(a) of the Act, the requirements in this regulation form the continuing professional development requirement.

(2)  The approved SMSF auditor must undertake at least 120 hours of continuing professional development every 3 years.

(3)  The development must: (a)  include 30 hours of development about superannuation at least 8 hours of which is development about auditing of self managed superannuation funds; and (b) : be development that could reasonably be expected to enhance an approved SMSF auditor's technical skills or professional service delivery.

 
 
 
 
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