Updated 16/02/2011
The last couple of months has seen us working hard behind to scenes in setting up the infrastructure to launch The SMSF Academy. This week provides an important milestone for us as we “get the keys to the website” and begin the process of adding content and tools for use by both trustees and advisors.
Our website includes membership modules for trustees and advisors to access ongoing training, best practice tools and white-label content for use in your businesses.
We are also pleased to advise that The SMSF Academy is now an accredited training provider with SPAA. This will now allow us to submit content for continuing professional development (CPD) assessment on an ongoing basis. Importantly, each CPD point issued by SPAA is recognised by the FPA (of equal value).
You will start to see more publicity about the SMSF Academy over the next month or so as we move closer to our launch…
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Late in 2009 I had a ‘small idea’ to start writing on topics and issues relating to Self Managed Super Funds, focusing on improving the knowledge and education of SMSF trustees and professionals working within or entering the industry.
It was an opportune time to start ‘thedunnthing’ blog as the industry was continuing to experience strong growth and had become the focus of Phase Three of the Super System Review, chaired by Jeremy Cooper. The blog provided an avenue to express my views on a variety of matters raised within the Issues Paper, but also on many of the comments coming from all sectors of the superannuation industry.
So from humble beginnings, the blog now regularly delivers views of topics and strategies for both trustees and professionals. In addition, the blog has introduced Webinars and Video blogs to deliver further education on SMSF topical matters. With a subscribers continuing to grow strongly and website visits still rapidly rising, it is the right time to take this area of SMSF education and training to the ‘next level’. Hence, the decision to establish “The SMSF Academy”.
This initiative has been established with an industry colleague, Ian Glenister, Principal of Glenister & Co. Ian is a Solicitor who specialises within the area of SMSFs and estate planning. He was the first lawyer in Australia to become an accredited SMSF Specialist Advisor (SSA). His SMSF trust deed is widely used throughout the industry (co-written with Grant Abbott) and with Grant created the SMSF Will and SMSF Life Will. Most importantly, Ian shares the same passion for knowledge and education of trustees to build wealth through SMSFs and for those advisors wanting to develop their skills and ply their trade within this burgeoning industry.
What will The SMSF Academy will offer?
The growth of ‘thedunnthing’ has been generated through regular blog contributions for both trustees and advisors. In more recent times this has extended to webinars and videos. The SMSF Academy is going to substantially increase the amount of information, strategies and content to deliver to both trustees and advisors on a subscription basis. Whilst the blog will continue (free of charge), membership to the SMSF Academy will deliver enhanced education and content, including videos, documentation available for use by trustees (e.g. investment strategy) and a several other exciting initiatives that will be released closer to the launch date.
For advisors, the SMSF Academy will also be offering additional content to promote new and enhance existing business revenues (e.g. white-label presentations), structured training and technical support, including a monthly SMSF update, to benefit those who become members.
Membership for trustees is only $330 (inc. GST) per annum.
Advisor Membership starts at $770 (inc. GST) per annum, with discounts available for practices and dealer groups. Please contact Aaron to discuss prices further to suit your needs.
We are excited to have our launch page up on The SMSF Academy website, so please take the time to visit our site, www.thesmsfacademy.com.au watch our introductory video and complete either our trustee or advisor survey to help us build our new SMSF community.
'thedunnthing' - Aaron Dunn's blog 
I want to know if you still can run a term allocated pension from your smsf.
I have a mlc term allocated pension setup on the 27/7/2007 plus an allocated pesnion. I want to roll them into a smsf to lower my managment fees and etc…
Can this still be done today. You only speak about account base pension on your web site. Thanks
Hi Ray,
Yes, it can be done. But you will need to ensure that the fund’s trust deed allows for the payment of a market-linked pension (also known as a “term allocated” pension). Subject to when you initially started the TAP, you may be subject to some slightly different rules around the minimum amount to be withdrawn.
Regards,
Aaron
If a term allocated pension is rolled into a self-managed superannuation fund, can it retain the 50% assets test exemption that it currently enjoys?
Hi Sue,
The short answer is “maybe”. There are a range of factors that must be considered. Here is a link that may assist in reaching the necessary answer for you, http://guidesacts.fahcsia.gov.au/guides_acts/ssg/ssguide-4/ssguide-4.9/ssguide-4.9.2/ssguide-4.9.2.17.html.
Also, if it’s rolling to a new SMSF, make sure that the deed allows for the payment of a market linked pension!!
Regards,
Aaron
Hi,
is advisor subscription to the site a yearly up-front cost or can it be paid monthly?
Subscription to the SMSF Academy is an upfront fee. Advisor Membership is either $770 (inc GST) to access the education-only (gold), or full membership including access to white-labelled content is $2,200 (inc GST) p.a.
Hi Aaron,
Thanks again for the great info on SMSfs on your website – greatly appreciated!
I have a quick question relating to the SMSF we have recently set up. I’m currently salary sacrificing into my SMSF – once I reach the $50k cap on my concessional contributions (I’m 56) for 2011/12 …
1) Can I divert my salary sacrificed super into my wife’s accumulation account (that way I can continue to benefit from lesser tax & the amounts can go towards building my wife’s super balance).
2) If yes, how will the contributions be treated in my wife’s account – concessional or non-concessional.
3) Are there any other issues that I need to be aware of when executing the above.
4) Will this breach any super/tax laws.
Many thanks in advance.
Regards
In answering each question below:
1) No you can’t salary sacrifice from you to your wife’s account to benefit from income splitting. You can split 85% of the contributions each year though if it is beneficial.
2) If contribution splitting, can only be on concessional contributions
3) see ATO website for further details on contribution splitting, http://www.ato.gov.au/superfunds/content.aspx?doc=/content/68034.htm and previous articles on my blog about proposed $50k contributions post 1/7/2012 where account balance is under $500k.
4) splitting of income can’t be done, contribution splitting can.
Regards,
Aaron