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Subject overview

This course is no longer accepting new student applications. Single subject enrolments will be open until Study Period 6 2022. Contact us for further details.

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.

Subject information

Learning Outcomes

At the completion of this subject, individuals should be able to:

  • Research and explain the legal regulations that apply to SMSFs
  • Research and critically evaluate the special taxation rules applicable to superannuation contributions, superannuation fund and superannuation benefits.
  • Develop and critically evaluate an SMSF strategy to deal with regulatory and tax requirements in a complex SMSF scenario
  • Justify an SMSF strategy to deal with regulatory and tax requirements in a complex SMSF scenario

 

Topics covered

  1. SMSF regulatory framework
  2. Regulating SMSFs
  3. Contribution standards
  4. Investing in an SMSF
  5. Taxing an SMSF
  6. Members’ interests and preservation standards
  7. Payment standards and paying a benefit
  8. Taxing superannuation payments
  9. SMSF controls — planning for life events

 

Continuing professional development (CPD)

Please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

Reading list

Negline, T (2020), The Essential SMSF Guide 2020-21, Thomson Reuters, Sydney.

Reading list

Assessments

Assessment TypeAssessedWeighting
AssignmentWeek 640%
ExamWeek 1260%

Previous study requirements

Duration

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

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

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, or understand the content covered in this subject/those subjects, prior to undertaking SMS005 SIS Regulations and Taxation.

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.

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