Program 1: Super Contributions and the SMSF Auditor’s Role

Contributions have a wide definition under taxation rulings, so the auditor has a consequentially important function. This session looks at the key areas, including:

• Type and tax status of contributions
• Understanding different types of concessional contributions
• Understanding trust deed requirements in respect to contributions
• Update on recent changes to contribution rules
• Changes to work test and spouse contributions
• Change to bring forward rules on non-concessional contributions
• The auditor’s role in relation to contributions
• Practical case studies

Program 2: Auditing Pensions - Getting That Check List Right

This session provides a practical focus on what must be checked when a fund is in pension phase. It includes:

• What does the ATO want auditors to check - an overview
• Meeting an appropriate condition of release
• Do the financial statements support the pension valuation?
• Properly documenting any commutations
• Calculation of exempt current pension income with respect to pensions
• When the pension commenced, and payments have been paid
• Meeting minimum pension payment requirements
• Case study - some problem scenarios and what to watch

Program 3: Auditing the Death of a Member in an SMSF

When a member dies there are several compliance matters that must be considered. This session looks at the key areas for auditors on the death of a member, including:

• Reviewing compliance with regulations on cashing of members benefit on death
• A review of fund administration - who has control of fund?
• When the auditor should question who benefits have gone to
• Have trustees observed a valid binding death benefit nomination?
• Checking whether a death benefit has been cashed
• Reviewing tax considerations in respect to death benefits
• Checklist on relevant documentation required for audit purposes