SMS001 SMSF Best Practice

This subject will provide students with an underpinning in the concepts and theories of SMSF operations. Students will consolidate their existing knowledge and skills base and extend this into complex SMSF scenarios. Students will study and evaluate complex financial retirement scenarios to identify best practice methods for guiding SMSF Trustees through the various stages of an SMSF: establishment, accumulation, transitioning to retirement and drawdown. Within these scenarios there should be a focus on the role of portfolio construction and investment management strategy when using SMSFs as an investment vehicle for retirement. Students will study and evaluate complex financial retirement scenarios to identify best practice methods of SMSF operations and will be expected to apply theories of portfolio construction and investment management to SMSF scenarios.

As one of three core subjects in this qualification, students will also be given the opportunity to develop their critical thinking, problem solving and communication skills.

Important note: To be eligible to apply for the SMSF Practitioner (SSPTM) designation with the SMSF Association you must achieve a grade of 65% or higher in the examination for this subject.

For more information, please refer to the subject outline.

  • Learning Outcomes
    • At the completion of this subject, students 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
  • Assessment
    • Assessment Type Assessed Weighting
      Topic Quizzes Week 4-8 10%
      Assignment Week 6 35%
      Examination* Week 12 55%

      Click here for an assessment timetable.

      Important note: The pass mark for the examination is 65%. To be eligible to apply for the SMSF Practitioner (SSPTM) designation with the SMSF Association you must successfully pass the examination for this subject.

  • Prerequisites
    • There are no prerequisites for this subject.

  • Reading List
    • Prescribed Text

      Negline, T, (2017), The Essential SMSF Guide 2017-2018, Thomson Reuters: Australia

      Retailers of educational books include Co-op Bookshop and Boffins Bookshop. Texts can also be borrowed from the Kaplan library or other libraries. Details of required and further reading are provided in the subject room.  Purchase of any text other than a prescribed text is not required.