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Recorded Webinars

Recorded Webinar: Whoops I Took Too Much: Withdrawing Funds from SMSFs

There are certain conditions that need to be met before you can withdraw funds from an SMSF. A recent expansion of these conditions was the Covid-19 early release concession. Regardless, withdrawing too much or any at all without meeting an acceptable condition of release leads t
PRESENTED BY Katie Timms National Director, Super & SMSF Services - RSM Australia Pty Ltd - Perth , Perth

Date/Time

About the Webinar

There are certain conditions that need to be met before you can withdraw funds from an SMSF. A recent expansion of these conditions was the Covid-19 early release concession. Regardless, withdrawing too much or any at all without meeting an acceptable condition of release leads to adverse tax consequences. This session explains the conditions of release and what to do if those conditions have been breached, including:

  • What are the conditions of release?
  • What to do if the Covid-early release amount has exceeded the allowed limit or you just want to put some or all back into the fund?
  • Can the in-house asset rule be used to mop up an inadvertent breach?
  • How to rectify a contravention and minimise the damage?
  • What are the penalties for accessing super before a condition of release is met?
  • What are the consequences of exceeding transition to retirement maximum pension limits?
  • How accounting for a breach can define the type of breach and the level of penalties
  • Practical examples

Presented By

Katie Timms
National Director, Super & SMSF Services, RSM Australia Pty Ltd - Perth Perth, WA

Katie Timms is a Partner of RSM Australia Partners and a Director of RSM Australia Pty Ltd. 

Katie has been with RSM since 2005 and was appointed Partner in 2015.

She specialises in superannuation and has significant experience in all areas of SMSFs, including administration and compliance, asset acquisition, tax-saving strategies, structural assistance, and estate planning.

A regular day for Katie ranges from helping farmers transfer property out of super to the next generation to advising company directors on how their SMSF interacts with their employee share scheme.

Katie provides advice and assistance to trustees, accountants, and financial advisers. She also heads up the national RSM Superannuation committee.

On the weekends Katie likes to keep her body and mind active. She loves playing competitive roller derby and reading anything she can get her hands on, including her all-time favourite, Harry Potter!

Who Should Attend?

This webinar is suitable for accountants advising in superannuation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD/Training hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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