SMSF advisers need to ensure they are across the evolving fundamentals of SMSFs, from setting up a fund to alternative investment strategies, a technical expert has warned.
Fundamentals will form the theme of the SMSF Association Technical Day to be held around the country this month.
SMSF Association head of education and technical Peter Hogan said the event will explore different issues critical to clients’ interests.
“Individuals establish SMSFs for the control it gives them to achieve their retirement income goals, and these sessions will provide fresh insights for advisers on how they can help their clients meet this worthwhile ambition,” Hogan noted.
“In particular, there will be an emphasis on advisers’ legal responsibilities when they are either advising individuals on setting up a fund or when assuming responsibility for an established fund.
“In this respect, the address by the ATO – ‘Fledgling SMSFs: the first 18 months of an SMSF’s life’ – will be highly instructive, as will the presentation on topical tips, tricks and traps when taking on new trustees.”
The technical day will also cover insights on asset ownership in retirement and the bricks and mortar of holding property in an investment portfolio.
The important role insurance plays in an SMSF will also be examined.
The first technical day will be in Adelaide on 14 August, followed by Melbourne, Sydney, Brisbane and Perth.
