SMS005 SIS Regulation and Taxation

This subject analyses the unique intersection of the Superannuation Industry (Supervision) Act 1993 (SISA), the Superannuation Industry (Supervision) Regulations 1993 (SISR) and the Income Taxation Assessment Acts 1936 and 1997 (ITAA). This subject offers deep technical content, and focusses on examining, in detail, the array of regulations and legislation that underpin the operation of an SMSF.

To be eligible to apply for the SMSF Specialist Advisor (SSA™) designation with the SMSF Association you must successfully pass 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:

      1. Research and explain the legal regulations that apply to SMSFs
      2. Research and critically evaluate the special taxation rules applicable to superannuation contributions, superannuation fund and superannuation benefits.
      3. Develop and critically evaluate an SMSF strategy to deal with regulatory and tax requirements in a complex SMSF scenario
      4. Justify an SMSF strategy to deal with regulatory and tax requirements in a complex SMSF scenario
  • Subject content
    • Topic Title
      Topic 1 SMSF regulatory framework
      Topic 2 Regulating SMSFs
      Topic 3 Contribution standards
      Topic 4 Investing in an SMSF
      Topic 5 Taxing an SMSF
      Topic 6 Members’ interests and preservation standards
      Topic 7 Payment standards and paying a benefit
      Topic 8 Taxing superannuation payments
      Topic 9 SMSF controls — planning for life events

  • Assessment
    • Assessment Type Assessed Weighting
      Assignment Week 6 40%
      Exam Week 12 60%

  • Prerequisites
  • Reading list
    • Prescribed text

      • Negline, T (2017), The Essential SMSF Guide 2017-18, Thomson Reuters, Sydney.

      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.