FPL305 Self-Managed Superannuation FundsUpdated: 17 May 2019
|Supervised Exam||There is no supervised examination.|
|Pre-requisites||candidature in BCom and FPL100 and FPL201; or candidature in BCom (Entry Rule b, c, d, or e); or candidature in BCom(FinPlan) and 24 cp|
This unit has been amended from Trimester 2 2019 to comply with FASEA National Planning Curriculum.
The unit title in Trimester 1 was Superannuation and SMSF Advice
- Self-Managed Superannuation Funds
|Coordinator(s)||Cynthia Shannon (email@example.com)|
This unit provides students with an understanding of the specific legislative and regulatory requirements that apply to self-managed superannuation funds (SMSFs), a sector now comprising well over a third of the total superannuation market. Whilst many of the regulation and taxation implications for contributing to superannuation, retaining investments in superannuation and withdrawing funds from superannuation are similar for SMSFs, there are some key differences particularly around ownership structures and related party transactions. The documentation required by a SMSF including Tax and Super Determinations, Rulings, Interpretative Decisions and Practice Law Statements are covered to ensure the administration process for an SMSF is understood.
This unit will include topics that address the nature of SMSFs and their importance in the superannuation market; regulatory context of SMSFs; trustees' duties, powers and rights; steps to set up an SMSF; contribution rules; super funds; tax implications; investments rules for SMSFs; related party transactions; payment of benefits and pensions; record keeping; transgressions and associated penalties; winding up an SMSF.
|Materials||No text required|
|Disclaimer||Unit information may be subject to change prior to commencement of the teaching period.|
|Learning Outcomes (LO)||
Upon completion of this unit, students will be able to: