Liz Ward
The SMSF Association’s 2017 Technical Day sessions are throwing some much-needed light on the superannuation changes that became law in late 2016 and took effect on 1 July this year.
SMSF specialist Julie Taylor, who is the founder-owner of SMSF administration business, Keep It Simple Super, says the impact of the new regulations is just coming into play and it’s critical all practitioners “get up to speed” as quickly as possible.
Taylor, who was attending the first Technical Day session in Sydney yesterday, says there’s no doubting the degree of complexity that the new regulations have introduced, and this applies to every practitioner working in the SMSF sector.
“From my perspective, there’s still a lot of detail about the new regulations that I need to get across to ensure my clients continue to get the best service from us, and as such this Technical Day has been invaluable to improve my understanding.
What’s been particularly helpful have been the practical sessions attached to each of the four sessions that covered total super balances, transfer balance cap, CGT relief and estate planning.
“The Association’s decision to use the ‘SMSF Family’ concept to illustrate how the technical content plays out in a practical situation is a great innovation. It allows you to get a much better understanding of how the new regulations will have an impact on your clients, and what you need to do in a day-to-day work situation.”
SMSF Association Head of Education and Technical Day organiser Liz Ward says: “We knew that the complexity of the new legislation changes meant that delegates need opportunities to not only hear about the new legislation, but to order to help them embed their understanding, time to reflect, discuss and apply their knowledge in a supportive environment, so the Technical Day was planned with this in mind.
“Our members tell us they really value the chance to discuss complex content in an open forum and to share with their fellow professionals what the practical consequences have been for their clients and businesses.”
The Technical Day moves to Melbourne today, Adelaide on 25 July and Perth on 27 July.
