SMS006 SMSF Trust Deeds

This subject focuses on the key objectives and elements of self managed superannuation fund (SMSF) trust deeds. It explores effective trust deed establishment, the best practice approach to trust deed creation and examines the situations that commonly trigger a need for trust deed review.  The assessments include a quiz, short and long answer assignment questions, where individuals are given the opportunity to compare and contrast trust deeds to evaluate each for ‘best fit’, and develop a trust deed for a given complex situation.

For more information, please refer to the subject outline.

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

      1. Critically analyse a trust deed for compliance, including all compulsory statutory provisions and those provisions that cannot or should not have been included
      2. Research and explain the common triggers for SMSF trust deed review and propose amendments to minimise compliance risk
      3. Compare and contrast a range of publicly available SMSF trust deeds to determine suitability for use
      4. Review SMSF trust deeds using best practice principles
  • Subject content
    • Topic Title
      Topic 1 Trust deed overview
      Topic 2 SMSF records
      Topic 3 Retirement benefit payments
      Topic 4 Binding death benefit nomination and succession
      Topic 5 Limited recourse borrowing arrangements (LRBA)
      Topic 6 Trust company versus individual, and control within the trust deed
      Topic 7 Triggers for trust deed review
      Topic 8 Review questions

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

  • CPD
  • Assessment
    • Assessment Type Assessed Weighting
      Assignment 1 Week 6 30%
      Online quiz Week 6 10%
      Assignment 2 Week 12 60%

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

       

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan Professional assumes individuals  have completed SMS001 SMSF Best Practice, SMS002 Understanding SMSF Trustees, and SMS003 SMSF Strategic Advice, prior to undertaking SMS006 SMSF Trust Deeds.

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

      • there are no equivalences for this subject.
  • Reading list
    • Prescribed text

      • Leow, J, Murphy, S, & CCH Australia Ltd 2019,  Australian Master Superannuation Guide 2019/20, 23rd  edn, CCh Australia, North Ryde.
      • Negline, T 2019, The Essential SMSF Guide 2019-20,Thomson Reuters, Sydney.