Education

Although SMSF Trustee education is not mandatory, it is advisable for new Trustees to improve their knowledge about the control environment of superannuation before establishing an SMSF.

CPA Australia used to provide a free SMSF Trustee education program , however the program is currently offline. Alternatively, the ATO provides comprehensive guidelines about SMSFs below:

Spring Financial Group offers a Complete SMSF Trustee Program at no expense and a certificate will be issued upon completion of the program. Simply register on their website with the button below:

To learn more about running a self-managed super fund (SMSF), it is a great idea to follow SMSF news and updates about regulations by reading our SMSF News articles.

For Trustees who want to learn key rules about investments, contributions, benefit payments and administration, topics to be explored in the above materials are as below:

• Trustee responsibilities
• Investment rules
• Accepting contributions
• Paying benefits
• Conditions of release
• Sole purpose Test
• Administration and accounting
• Tax return
• Audit

The aim is to educate SMSF Members in their responsibilities as Trustees. Trustees should be able to sign the SMSF Trustee Declaration form, confident that they have the competencies expected of them as Trustees.

SMSF Trustees will be able to understand:

• Their roles and responsibilities as SMSF Trustees
• The investment restrictions
• Contribution rules
• Benefit payment rules
• SMSF administration

The knowledge gained from the suggested materials, combined with the information on the Superannuation Warehouse website, will enable Trustees to manage their Fund within the requirements of the ATO.

If you are ready to set up your SMSF, you can simply apply here.