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As the SMSF industry grapples with another year of change to tax policy, the time is ripe for specialists working across advice, accounting, and auditing to receive critical updates on regulatory and legislative changes.

With a jam-packed agenda and expert-led sessions, the 2023 SMSF Adviser Technical Strategy Day will arm specialists with critical information to ensure they and their clients thrive.

Following a welcome address by emcee and Smarter SMSF CEO and co-founder Aaron Dunn, Colonial First State head of technical services Craig Day will dive into the recent legislative and regulatory developments impacting SMSFs, clients, and the advice specialists provide.

He will unpack the latest budget developments and their impact on the SMSF sector, updates on the Quality of Advice review, changes to SMSF reporting requirements, as well as the new age-based deductibility rule and practical tax return issues.

Attendees will receive a much-anticipated update about the separation of assets, touted to be the ATO’s next big compliance focus for SMSFs. This session will outline the ATO’s new expectations around documentation and explanations being provided where assets are not held in the name of all trustees of the fund.

The session will also detail auditor requirements to check for company constitutions where there is a special purpose company, and other concerns the ATO has around the separation of assets.

Cooper Grace Ward partners Scott Hay-Bartlem and Clinton Jackson will delve into how advisers could navigate the challenges of transferring lumpy assets out of an SMSF before and after death.

They will explain when a benefit payment will become a “member benefit”, what documentation is needed to be able to pay a member benefit near death, and how to pay death benefits to avoid being challenged.

The latest developments in and challenges stemming from property investments through SMSFs will also be in focus. Deloitte partner Liz Westover will explore compliance requirements for limited recourse borrowing arrangements (LRBA) and how to avoid any issues.

She will give updates on non-arm’s length expenses (NALE) legislation and how it could impact SMSFs with property investments, considerations and current issues around the use of unit trusts, market valuation requirements, and best practices for advising clients on property investments.

Mr Dunn will return to the stage to present a session on navigating the new era of SMSF document management and the current state of the law, along with potential pitfalls to avoid.

With the government’s modernisation of business communications and registers project heralding changes to the way SMSF documents are signed and executed, Mr Dunn will examine upcoming legislation, its impact on document processes, and what auditors want in relation to proper execution and record-keeping.

Heffron managing director Meg Heffron will detail the latest SMSF strategies for clients aged 70 and over, including how to structure pension payments effectively.

With the federal government planning to introduce a new cap for super, SMSF specialists will hear how this and other policy proposals could impact older SMSF clients, and how they could manage it.

The federal government’s proposal would see earnings on super balances over $3 million taxed at a concessional rate of 30 per cent rather than 15 per cent (set to occur on 1 July 2025 just after the next Federal election).

Commenting on the 10th annual Technical Strategy Day, managing editor of advice and distribution Maja Garaca Djurdjevic said: “New legislative and regulatory developments continue to flow steadily through the pipeline, even as a more subdued economy and high inflation throw new challenges at SMSF specialists and their clients.

“Bearing this in mind, we’ve gathered some of the leading experts in the SMSF industry to arm specialists and advisers with the knowledge and tools to run a smooth and agile business.”

She concluded: “Make sure you stay ahead of the curve by attending the SMSF Technical Strategy Day. You’ll walk away with the latest strategies to navigate the ever-changing landscape, service clients of all ages and life stages, and grow your legal and technical knowledge.”

The SMSF Adviser Technical Strategy Day 2023 will be held in the following locations:

• 17 October 2023 at Four Seasons, Sydney
• 18 October 2023 at Rydges Southbank, Brisbane
• 25 October 2023 at Grand Hyatt, Melbourne

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For more information, including agenda and speakers, click here.