Learning Outcomes:
By the end of the course, participants will be able to:
1. Understand SMSF structure, compliance, and legal
requirements
2. Identify and classify contributions, earnings, and expenses
3. Prepare and lodge SMSF tax returns accurately
4. Avoid common mistakes and ensure compliance with the
ATO
5. Handle audits and rectify errors in SMSF records

Course Structure & Contents:
Module 1: Introduction to SMSFs
 Overview of Superannuation in Australia
 Purpose of SMSFs and their role in retirement planning
 Difference between SMSFs and APRA-regulated funds
 Structure of SMSFs: individual trustees vs corporate trustees
 Roles and responsibilities of trustees

Module 2: Legal Framework
 Superannuation Industry (Supervision) Act 1993 (SIS Act)
o Key sections relevant to tax returns
o Trustee obligations under the SIS Act
 Australian Taxation Office (ATO) requirements for SMSFs
 SMSF compliance obligations

Module 3: SMSF Contributions and Rollovers

 Types of contributions: concessional & non-concessional
 Contribution caps and excess contributions tax
 Rollovers and transfers between funds
 Employer contributions, SG, and personal contributions

Module 4: Investments and Fund Assets
 Approved investments under SIS Act
 Valuation of SMSF assets
 Income from investments: dividends, interest, rental income
 Tax implications of investment earnings

Module 5: SMSF Accounting Basics
 Record keeping requirements
 Preparing financial statements for SMSFs
 Understanding balance sheets and profit/loss for SMSFs
 Common accounting software for SMSFs

Module 6: SMSF Taxation
 SMSF tax obligations
 Tax rates for SMSFs and concessional tax treatment
 Deductible expenses
 Capital gains tax and CGT concessions for SMSFs
 Franking credits and imputation
 Division 293 tax

Module 7: Preparing SMSF Tax Returns
 Step-by-step process of lodging SMSF tax returns (ATO Form)
 Reporting income, contributions, and capital gains
 Claiming deductions and expenses
 Handling tax offsets and credits
 Common errors and how to avoid them

Module 8: Compliance, Auditing, and Reporting
 Annual SMSF audit requirements

 Preparing for ATO audits
 Rectification of non-compliance
 Penalties and consequences for SMSFs

Module 9: Practical Exercises
 Case studies of real SMSF scenarios
 Hands-on preparation of tax returns using example data
 Using software like BGL Simple Fund 360, Class Super, or MYOB
 Lodging returns via the ATO portal

Module 10: Advanced Topics (Optional)
 SMSF pension phase and tax considerations
 Dealing with SMSF death benefits
 Advanced investment strategies and compliance