Description
We know that an SMSF can run a business provided it is for the sole purpose of providing retirement benefits to members. But when is it appropriate for your clients’ needs and how do you ensure the fund remains compliant?
This session looks at the following key issues:
- Requirements for an SMSF to run a business
- Ensuring the sole purpose test is not breached – eligibility for tax concessions
- Ensuring the business accords with the investment strategy
- Meeting other regulatory imperatives, such as:
- Commercial arm’s length investments
- Loans and financial assistance
- Assets from related parties and arm’s length dealings
- Borrowing
- Tax consequences of running a business through your SMSF
- Assessing the individual circumstances of each fund
- Weighing up the pros and cons – what is the verdict
- Case studies
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.
$99+GST (members) | $132+GST (non- members)
TPB CPD Hours:1 hour | Legislated CPD Hours: 1 hour in technical competence
Presented by:
Phil Broderick
Principal, Sladen Legal
Phil is a principal of Sladen Legal and heads its superannuation team. He is member of a number of superannuation related committees. This includes being a member of The Tax Institute’s superannuation committee and the chair of the Institute of Financial Professionals Australia (IFPA) technical and policy committee.
He is also a member of number of the ATO’s superannuation liaison groups including the Superannuation Industry Relationship Network (SIRN) and the Superannuation Industry Stewardship Group (SISG). Phil is also heavily involved in liaising with Treasury and ATO in relation to the implementation of new super laws and administrative practices.
Phil’s areas of practice include superannuation, duties and state taxes, estate planning and succession, trusts, federal tax and business structuring.
Phil was listed in the 2020 to 2023 Best Lawyers Australia for superannuation law and was the winner of the SMSF Association’s SMSF Specialist Advisor (SSA) Top Achiever Award in 2019. His articles have featured in The Tax Institute’s Taxation in Australia Journal and CCH’s Super News. He has presented at seminars and conferences conducted by The Tax Institute, the SMSF Association, TEN The Education Network, Legalwise and various accounting bodies.
