SMS001 SMSF Best Practice

This subject focuses on the concepts and theories of SMSF operations.  Individuals study and evaluate complex financial retirement scenarios to identify best practice methods for guiding SMSF Trustees through the various stages of an SMSF.

Individuals are given the opportunity to write a critical review and evaluation of an Australian Securities and Investments Commission report. The quizzes and final exam provide individuals an opportunity to apply their learnings via multiple choice questions, and case-study based short answer questions.

For more information, please refer to the subject outline.

  • Learning Outcomes
    • On successful completion of this subject, individuals should be able to:

      • Explain how the different SMSF-related occupations can contribute to the optimal operation of an SMSF.
      • Integrate regulatory and legislative requirements into SMSF advice functions.
      • Research, assess and apply best practice methodologies to the operation of an SMSF.
  • Subject Content
    • Topic Title
      Topic 1 Self managed superannuation fund history
      Topic 2 Barriers to entry, suitability and setting up a fund
      Topic 3 Managing investments
      Topic 4 Contributions
      Topic 5 SMSF reporting
      Topic 6 Benefit payments
      Topic 7 Taxation
      Topic 8 Winding up a fund
      Topic 9 SMSF trustee guidance

  • Duration
    • The duration of this subject is one study period (12 weeks).

  • CPD
  • Assessment
  • Prerequisites
    • There are no prerequisites for this subject. However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge
    • Not applicable

  • Course transition subject equivalence
    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • there are no equivalences for this subject.
  • Reading List
    • Prescribed Text

      Negline, T, (2019), The Essential SMSF Guide 2019-2020, Thomson Reuters: Australia