CORPFIN 6002 - Self-Managed Super - Establish & Accumulate

North Terrace Campus - Semester 2 - 2017

Participants will analyse the benefits of SMSF's and the factors that have resulted in them being adopted by a wide range of self-employed people, employees on higher salaries with flexible remuneration arrangements and those close to or in retirement. The topics covered will include the formation of SMSF's, issues around trust deeds and the regulations governing them and the Superannuation Industry (Supervision) Act (SIS Act). In addition, there will be a detailed review of compliance, investment strategies, taxation at the fund level, CGT small business exemptions and instalment warrants including the new borrowing rules. The rules concerning related party asset acquisitions, sole purpose, in-house assets, loans to members and accepting contributions will also be examined. Additionally, the participants will learn the rights and obligations of the trustees, members and other parties that are connected with the operation of the fund.

  • General Course Information
    Course Details
    Course Code CORPFIN 6002
    Course Self-Managed Super - Establish & Accumulate
    Coordinating Unit Business School
    Term Semester 2
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact 2 x two day intensives scheduled on Fridays and Saturdays
    Available for Study Abroad and Exchange N
    Assumed Knowledge CORPFIN 7005
    Course Description Participants will analyse the benefits of SMSF's and the factors that have resulted in them being adopted by a wide range of self-employed people, employees on higher salaries with flexible remuneration arrangements and those close to or in retirement. The topics covered will include the formation of SMSF's, issues around trust deeds and the regulations governing them and the Superannuation Industry (Supervision) Act (SIS Act). In addition, there will be a detailed review of compliance, investment strategies, taxation at the fund level, CGT small business exemptions and instalment warrants including the new borrowing rules. The rules concerning related party asset acquisitions, sole purpose, in-house assets, loans to members and accepting contributions will also be examined. Additionally, the participants will learn the rights and obligations of the trustees, members and other parties that are connected with the operation of the fund.
    Course Staff

    Course Coordinator: Mrs Tania Turner

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1. Undertake the appropriate steps and execute the operations of a SMSF throughout various lifecycles
    2. Analyse and interpret how specific SMSF trustee behaviours affect the SMSF fund investment strategy
    3. Provide specialist technical advice and solutions to SMSF trustees and related parties
    4. Demonstrate effective communication skills to convey complex technical advice to different audiences
    5. Integrate SMSF technical regulations and legislation with trustees objectives and motivations to evaluate, plan and implement various aspects of SMSF
    6. Adhere to legislative and regulatory requirements when carrying out SMSF advice
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1-6
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1, 3 & 5
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    3
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    5 & 6
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    3
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    2
  • Learning Resources
    Required Resources
    CCH Australian Superannuation Legislation - latest edition
    CCH Australia Master Superannuation Guide - latest edition
    Recommended Resources
    CCH Master Tax guide
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Due to the intensive nature of this course it is a requirement that participants attend 100% of the scheduled seminars.  Consideration will be given for medical and compassionate reasons for non attendance but supporting dpocumentation will need to be presented with these requests.  if 100% attendance is not met sudents will be ineligible to sit for the exam.  Students in this course are generally also working full time therefore work commitments do not exempt students from this attendance requirement.

    As with all intensive executive style programs students are expected to contribute to all discussions and be positively interactive.  There is a strong assumption that students will engage in seminar discussions in an informed way.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Students are required to complete 1 assignment between intensive 1 and intensive 2 for this course as well as set aside time to study for the exam.

    The Unviersity expects full-time students (ie those taking 12 units per semester) to devote a total of 48 hours per week to their studies.  This means you are expected to commit approximately 12 hours for a 3 unit course of private study outside your regular sessions.
    Learning Activities Summary
    Day 1
    General introduction to SMSFs
    What is a SMSF
    Benefits of a SMSF
    Establishing a SMSF
    Who can give advice in relation to SMSF
    On going administration requirements of trustees

    Day 2
    Outline general trustee responsibilities
    Draft investment objectives and strategy for a SMSF
    Identify application of sole purpose test
    Explain the basic restrictions applying to investors

    Assignment

    Day 3
    Understand and apply the principles of the sole purpose test and investment standards
    Explain the basic restrictions that apply to investments
    Identify who or what entities are associates
    Explain the interaction of the various investment restrictions in specific circumstances
    Apply the transitional provisions to prescribed arrangements
    Under the role and responsibilities of auditors
    Explain the distinction between financial and compliance reports
    Describe the circumstances when an auditor must report breaches to trustees and regulators

    Day 4
    Contributions - Deductibility and assessable income
    Assessment income of SMSFs
    Special Income
    Deductions - Insurance premiums, self insurance and anti detriment payments
    CGT & CGT Small Business Concessions
    Exam review
    Specific Course Requirements
    To gain a pass for this course a mark of at least 50% (complete) must be obtained on the examination as well as a total of at least 50% overall.  Students not achieving the minimum exam mark will be awarded no more than 49.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Weighting Learning Outcome
    Assignment 50% 1-3
    Exam
    (3 hour open book)
    50% All
    Total 100%
    Assessment Detail
    Students are required to complete 1 assignment at the mid-oint of this course plus the final exam.

    The assignment consists of 4 questions with each question containing several sections.

    There is no word limit of the assignment however students are reminded to provide concise answers that address the question and state references to the relevant legislation.
    Submission
    Assignments must be submitted to the lecturer using the email provided.

    Please retain a copy of all assignments submitted
    Please attach an Assignment Cover Sheet which is signed an dated by you before submission.

    Lecturers can refuse to accept assignments which do not have a signed acknowledgement of the University's policy on plagarism.

    Late assignment submission
    Students are expected to submit their work by the due date to maintain a fair and equitable system.  Extensions will generally only be given for medical or other serious reasons.  All requests for extensions must be emailed to the course co-ordinator before the due date.  Each request will be assessed on its merits.  A late assignment (without prior arrangement) will be penalised by a 5% mark reduction for each day that is it late.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

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