SMSFA chair Andrew Gale says the national SMSFA conference is thought of as the best of its kind in the sector. It’s highly regarded for the technical content of its sessions. Responses from prior conferences indicate the SMSFA delivers well on that.
The superannuation sector is in a period of unprecedented change. A number of issues remain live, especially the upcoming superannuation changes, which are the biggest in more than a decade. There are also changes around the provision of financial advice that are important for SMSF advisers.
The 2016 federal budget reforms include many technical advice issues that must be dealt with over the next six months. Managing the $1.6 million transfer balance cap is of particular importance.
Changes to transition-to-retirement strategies – and potential unwinding of these strategies in some cases – as well as capital gains tax issues, are among the other challenges with which the sector is dealing at the moment. Pension income drawdown strategies also need to be addressed.
These are only a few of the important advice concerns for members. The technical content delegates will receive in many of the sessions will be helpful in resolving the issues and providing the right advice to SMSF clients.
In terms of regulatory change, new accounting licensing requirements came into effect last year and accountants have been working through how best to respond. The professional standard education framework the government has announced, to be implemented between 2018 and 2024, is another issue advisers need to consider this year, alongside the tax practitioner board requirements.
The SMSFA conference is the best place to receive up-to-date information around all these changes and more, making it a must-attend event for professionals in the SMSF sector.