CORPFIN 6002EX - Self-Managed Super - Establish & Accumulate

External - Semester 1 - 2016

The course information on this page is being finalised for 2016. Please check again before classes commence.

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 6002EX
    Course Self-Managed Super - Establish & Accumulate
    Coordinating Unit Adelaide Business School
    Term Semester 1
    Level Postgraduate Coursework
    Location/s External
    Units 3
    Contact External: 12 hours self-directed study per week
    Available for Study Abroad and Exchange N
    Assumed Knowledge CORPFIN 7005
    Assessment Exam and assignments
    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

    This course is desinged to assist students:

    1. Identify and describe what a SMSF is
    2. Identify and describe what a SAF is
    3. Identify who should have a SMSF and who should not
    4. Identify who can or cannot be a member of a SMSF
    5. Identify the issues surrounding establishing a SMSF
    6. Identify when a SMSF is a complying fund and when it is not, and the consequences for the fund
    7. Follow a process for establishing a SMSF
    8. Outline general trustee responsibilities
    9. Draft investment objectives and strategy for a SMSF
    10. Identify application of sole purpose test
    11. Explain the basic restrictions applying to investments
    12. Evaluate transactions in the context of the provision of loans and financial assistance to member and relatives
    13. The new borrowing rules as they apply to SMSFs
    14. Identify and apply the principles of the sole purpose test
    15. Explain the basic restrictions that apply to investments
    16. Identify who or what entities are associates
    17. Explain the interaction of the various investments restrictions in specific circumstances
    18. Apply the transitional provisions to prescribed arrangements
    19. The role and responsibilities of auditors
    20. Explain the distinction between financial and compliance reports
    21. Describe circumstances when an auditor must report breaches to trustees and Regulators
    22. Determine the liability of SMSF
    23. Identify various tax deductions available
    24. Identify the opportuntiies in the small business CGT concessions
    University Graduate Attributes

    No information currently available.

  • 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.

    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 Univiersity 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


    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
  • 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
    Assignment - 50%
    Related learning outcomes 1 - 12

    Exam - 50%
    Related learning outcomes - ALL

    The final exam is a 3 hour open book exam
    Assessment Detail

    No information currently available.

    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 workby 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.

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    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 ( 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
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