The 2020 National Superannuation Webinar Series kicks off on Wednesday, 8 April giving delegates the opportunity to adapt their learning and keep up to date with the ever-evolving SMSF landscape.
We spoke to two of the ‘super’ star presenters, Tim Miller, SuperGuardian and Jemma Sanderson, CTA, Cooper Partners Financial Services ahead of the series.
Non-arm’s length income in the spotlight
NALI and NALE with Tim Miller
Tim Miller is one of Australia’s leading SMSF educators and presenters with over 23 years’ experience in the Superannuation industry, providing legislative and compliance support to thousands of Trustees, Accountants and Financial Planners since joining the SMSF sector in 1999.
Tim regularly presents at major SMSF conferences and events, contributes to various trade and general publications and is the author of one of the subjects of the SMSF Association Graduate Certificate delivered through the University of Adelaide and Kaplan, which also forms part of the CA ANZ SMSF specialist program. Tim is an SMSF Association Specialist Adviser.
Tim will be presenting on the hot topic, ‘NALI and NALE’. As it impacts very few SMSF transactions, non-arm’s length income is usually an afterthought. However, the changes introduced in 1 July 2018 have turned the whole thing on its head. We asked Tim to tell us more.
“The challenges associated with the introduction of the non-arm’s length income amendments, lie within the SMSF professional service offerings,” Tim begins. “Non-arm’s length expenses are now the catalyst for widespread concern, about not only our clients but also how we as SMSF professionals deal with our own fund.”
Blind spots“I think there are lots of blind spots associated with related party investments and property investments where business property may be leased to a related party,” Tim explains.
“There will need to be a focus on who is responsible for outgoings and whether those outgoings are transacted on a commercial basis.”
Tim hopes to provide delegates with an understanding of the key changes to the non-arm’s length rules and how those rules will not only impact their clients, but potentially their practices as well.
The Transfer Balance Cap and Pensions
Myth busting with Jemma Sanderson
Jemma Sanderson, CTA will be presenting a pensions workshop as part of the Superannuation 2020 webinar series.
With over 19 years’ experience in developing complex strategies for high net worth clients, Jemma is a Director of Cooper Partners Financial Services, heading up their SMSF specialist services. She provides strategic advice on SMSFs, estate planning and wealth management to clients, as well as technical support and consultancy to accounting, legal and financial planning groups.
We spoke to Jemma about her session and asked her what tax practitioners should be looking out for after the recent overhaul of the Superannuation rules in 2018.
“There is a lot of confusion and misinformation regarding the transfer balance cap and pensions.”
“As the rules regarding pensions and the transfer balance cap are still very new, the practical implications upon the occurrence of various trigger events, ‘retirement, retirement with a transition to retirement pension and death’ is an area that I receive many questions about. We have been very focused on getting the pensions in place and ensuring that clients were maximising their CGT relief, that sometimes the next steps can be missed," she explains.
Jemma hopes her session will provide some myth-busting around the transfer balance cap and pensions, while also providing some practical solutions for practitioners to take back to their client base.
Don’t miss Jemma Sanderson, CTA and Tim Miller making up part of the ‘super’ star line up, as part of the 2020 National Superannuation Webinar Series.
The series features 10 sessions over three months, guiding delegates through real-life case studies and legislative and regulatory changes.
Single session registrations as well as a 6-pack bundle are available. Adapt your learning and register now!