Join us at this practical workshop where you will use case studies to explore the complex issues you may face with SMSFs together with 3 tax and SMSF experts. Delve into the complexities of additional tax on balances over $3 million, how to calculate, options for payment and managing the changes. Discover the intricacies of death benefit payments in SMSFs that can have a huge impact on their practical application. Review SMSF trustees' duties, obligations, and minimising non-compliance risks.
Thursday, 21 March 2024
Duties and Obligations of SMSF Trustees
- What are the statutory and common law duties of SMSF trustees?
- What are the obligations of directors of SMSF trustees?
- What are the implications of breaching those duties?
- How can trustees reduce the risk of non-compliance?
- Can a beneficiary challenge the exercise of trustee’s discretionary powers?
Presented by Dr Bill Orow, Barrister, Greens List
Description
Attend and earn 3 CPD hours including:
2 hours in Professional Skills
1 hour in Substantive Law
* This interactive online recording includes questions and quizzes requiring critical thinking about the topics, so you have no annual limits to the number of points/hours you can claim with this format of learning. Please verify with your CPD rules
Chair:
Tracey Norris, Director, Pitcher Partners; Accredited SMSF Specialist; Fellow of the Institute of Chartered Accountants in Australia and New Zealand
Professional Skills
The Three Million Dollar Story: Additional Tax on Balances Over $3 Million
The government remains resolute on reducing the tax concessions available to large superannuation balances. Whilst many may argue that $3 million is not large, the vast majority of large account balance holders and their advisers don’t seem concerned about receiving lower tax concessions on their earnings. However, overwhelmingly members and industry object to the calculation intended to be used, and the degree of complexity of the announced measures.
In this session you will use a series of case studies to review:
- An overview of the announced measure
- How to calculate the additional tax
- The administration and options for paying the tax
- Strategies for managing the changes
Presented by Julie Steed, Senior Technical Services Manager, Australian Executor Trustees; SMSF Specialist; Senior Fellow of Finsia; Fellow of ASFA; accredited SMSF Specialist Advisor
Professional Skills
SMSFs and Death: Dreams and Disappointments
The SMSF is a cornerstone of many client’s estate plans and considerable planning goes into the payment of death benefits. Yet despite an understanding of the importance, there are regularly issues with the practical application of death benefit payments in SMSFs.
Using a series of case studies, you will examine:
- Differences between superannuation rules and trust deed rules
- Nomination best options
- Nomination failures and challenges
- Death bed payments
Presented by Julie Steed, Senior Technical Services Manager, Australian Executor Trustees; SMSF Specialist; Senior Fellow of Finsia; Fellow of ASFA; accredited SMSF Specialist Advisor
Presenters
Dr Bill Orow, Barrister, Greens ListBill Orow is an expert in the fields of taxation law, superannuation and trusts holding a Ph.D as well as an LL.M and has had many works on taxation published, including authoring Comparative Anti-Avoidance Rules, Jordans, and co-authoring Income Tax and GST Planning Strategies Manual, Thomson Reuters. He practices in Federal and State taxation and has been briefed in matters involving income taxation, GST, superannuation, stamp duty, land tax, general infrastructure contribution tax and payroll tax. In addition, Bill has been briefed in general commercial law matters involving freezing orders, contempt of court, breach of trust, directors duties, insolvency, trade practices and common-law disputes (such as professional negligence and misrepresentation) and administrative law matters where prerogative writs were sought.
Tracey Norris, Director, Pitcher Partners
Tracey brings over 25 years of experience in public practice, working closely with family groups and SMEs to navigate the complexities of taxation and superannuation. Her approach is grounded in delivering practical, commercially sound outcomes that align with clients’ life and business goals. Tracey’s expertise spans SMSF compliance and audits, asset restructures involving superannuation—whether due to life events, business sales, or acquisitions—retirement planning, estate administration, family law superannuation splits, and investment strategies using compliant superannuation structures. Tracey also provides expert reports for legal counsel in court proceedings. As a licensed adviser under the Pitcher Partners Australian Financial Services Licence, Tracey combines technical precision with strategic insight. Her contributions to the profession have been recognised with finalist nominations for SMSF Adviser of the Year at the Women in Finance Awards in both 2021 and 2022. Qualifications & Memberships: Bachelor of Commerce (JCU), Advanced Diploma of Financial Services (Superannuation), Fellow of Chartered Accountants Australia and New Zealand (CAANZ), CAANZ SMSF Specialist.
Ms. Julie Steed, Senior Technical Services Manager, Australian Executor Trustees
Julie Steed has more than 30 years of experience in the superannuation industry as a technical specialist, consultant and client services manager. Julie is responsible for the provision of superannuation technical information, specialising in small funds. Julie is passionate about helping people with the technical aspects of super, keeping it simple and in helping practitioners provide quality services to their clients. Julie is a Senior Fellow of Finsia, a Fellow of ASFA and an accredited SMSF Specialist Advisor with the SMSF Association.
