The Pesentes Rebecca Mogan Rebecca is a Taxation Consltant with the NTAA and has ove 12 yeas tax expeience. Rebecca holds a Bachelo of Ats and Law and a Mastes of Taxation. Rebecca has pesented a nmbe of the Back to Basics Semina seies and is also a egla pesente on Tax on the Coch. Befoe joining the NTAA, Rebecca woked fo the Astalian Taxation Office as a Manage of Aggessive Tax Planning and also managed a nmbe of geneal adit pojects. David Bows David has a geat passion fo all things self-managed spe and has been able to flfill this passion thogh the management and gowth of Bamgatne Speannation. David has been a diecto of Bamgatne Speannation since 2009 and is a Chateed Accontant and SPAA Specialist Adito. David s expetise in the aea is ecognised thogh his position on the Astalian Taxation Office s SCC Appoved Aditos Woking Gop. This position has allowed David to povide p to date infomation to his clients on both the technical views of the ATO and thei cent compliance activities. Special offe to Non-Membes Please call and discss the $100 (appox) semina disconts which ae available to membes of the NTAA fo a low annal fee of only $295, which incldes a 12 month sbsciption to the monthly newslette Voice, 3 FREE 10 minte telephone calls to o tax advises pls disconts on most NTAA podcts. Cancellations o Tansfes It's necessay to chage a fee when confimed bookings (see below) ae cancelled. Howeve, a sbstitte paticipant will be accepted. If a sbstitte is not nominated, a cancellation fee of $99 will be applied. Cancellations Moe than 5 fll woking days befoe the semina: cancellations inc an $99 administation fee. Within 5 woking days of the semina: no efnds will be available fo cancellations, althogh a fll set of notes will be povided. Tansfes Moe than 2 fll woking days befoe the semina: a cedit fo the amont chaged may be tansfeed to any othe NTAA semina withot incing the $99 administation fee. Within 2 woking days: tansfes inc an $99 administation fee. The NTAA eseves the ight to cancel o eschedle coses, change speakes o evise content as necessay. Confimation of Booking Bookings will be confimed via email, fax o mail please inclde yo email o fax nmbe fo a speedy eply. Please Note: Yo mst ense that yo eceive witten confimation of yo booking, othewise yo may not be booked into the semina and may have to povide cedit cad details at egistation. If yo do not eceive confimation by fax within 48 hos of faxing yo ode o 72 hos of mailing it, contact s. CPD/CPE Hos The semina allows fo 6.5 CPD/CPE hos pe day. SUPER Basics 2012 This semina is moe than jst Basics It is a wokshop that has been devised to povide yo and yo staff with a pactical insight into what s needed to n an SMSF! What will be coveed on the day? Pat 1: Acconting fo SMSFs Dealing with the acconting enties fo: Accepting contibtions Investment eanings Recognising expenses Paying benefits Pat 2: Doing the 2012 SMSF etn Completing the income and dedctions labels What goes in the membe infomation section? Pepaing the Reglatoy segment Pat 3: Aditing an SMSF Pepaing fo an adit Condcting an SMSF adit Finalising an adit And, eveything in between Vegetaian Meals Vegetaian meals ae available as an option at no exta cost. If yo pefe a vegetaian meal, simply tick the box nde the delegate name on the egistation fom. National Tax & Accontants' Association Ltd. 29-33 Palmeston Cescent Soth Melbone, Vic. 3205 Tel: (03) 9209 9999 Fax: (03) 9686 4744 Web: www.ntaa.com.a Email: ntaainfo@ntaa.com.a ABN: 76 057 551 854 ' An NTAA Back to Basics Pesented by Rebecca Mogan & David Bows on behalf of the National Tax & Accontants Association Ltd. Semina
Spe Basics 2012 An NTAA Back to Basics Semina Let s make yo Staff Speannation Ready! The incedible gowth of speannation has meant that it has become a sbstantial pat of many acconting pactices. Unfotnately, speannation has been long egaded as a specialist aea and many acconting pactices ae beeft of expeienced staff to deal with the daily challenges posed by speannation. We ndestand this and we have expeienced simila fstations. As a eslt, we ve devised the speannation basics semina to ense that yo staff (whethe senio o jnio) can become speannation eady, in one day. This semina has been aimed to povide yo staff with the tools to complete an SMSF etn. In addition, the day concldes with a coal face look at what s necessay to condct an adit of an SMSF. We examine eveything fom taking on the engagement, to completing the adit file to issing the adit epot and eveything in between. Pat 1: Acconting fo SMSFs Dealing with acconting enties fo: Accepting contibtions Investment eanings Recognising expenses Paying benefits Pat 2: Doing the SMSF etn Completing the income and dedctions labels What goes in the Membe infomation section? Pepaing Reglatoy segment Pat 3: Aditing an SMSF Pepaing fo an adit Condcting an SMSF adit Finalising an adit And, eveything in between Fndamentals of Setting p & Rnning an SMSF Clients expect all the answes and the most tax effective spe stcte. In this segment we highlight the do s and don ts with setting p and nning an SMSF. NTAA gide to the NEW les fo accontants ecommending and setting p an SMSF An pdated gide to the les fo accontants advising on SMSFs avoid costly mistakes! The mechanics of setting p an SMSF What clases shold be inclded in SMSF deeds Who shold be the tstee AND latest developments What is an investment stategy and a hands on gide to the NEW docmentation eqiements How ae costs of setting p an SMSF teated? A.B.C. SELF MANAGED SUPERANNUATION FUND ABN 12 345 678 911 PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 30 JUNE 2012 INCOME Employe Contibtions 50,000.00 Dividends Received 5,200.00 Inteest Received 1,600.00 TOTAL INCOME 56,800.00 LESS EXPENDITURE Acconting Fees 6,500.00 Bank Chages 1,250.00 Bilding Wite-Off 5,000.00 Boowing Costs 300.00 Depeciation 6,970.00 Desciption TOTAL EXPENDITURE 20,020.00 Date Debit Cedit 26-Jn-12 Benefit paid - John Citizen 25,000.00 NET OPERATING PROFIT 36,780.00 Cash at bank Distibtion to Beneficiaies: John Citizen 50,000.00 DEF Pty Ltd Membe has made a lmp sm withdawal fom thei 45,918.00 spe Total distibtion inteest 95,918.00 RETAINED PROFITS AT THE END OF THE FINANCIAL (59,138.00) YEAR 2012 $ 25,000.00 A hands-on gide to acconting fo SMSFs Fom contibtions to paying benefits Acconting fo contibtions into an SMSF How shold SMSFs accont fo dedctible/ndedcted contibtions nde the cent contibtion caps? When ae tstees legally eqied to allocate contibtions to membes of an SMSF? How ae tax adjstments ecoded whee an SMSF eceives a concessional contibtion? Acconting fo investment eanings, fom the gond-p! NEW maket vale epoting fom 1 Jly 2012 How ae investment eanings allocated amongst membes within an SMSF? What acconting enties ae eqied fo investment eanings whee a fnd is paying a pension? How ae investment eseves ecognised fom an acconting pespective within an SMSF? Acconting fo benefit payments to membes What acconting/jonal enties ae needed fo the payment of pensions? How shold the payment of lmp sm benefits be ecoded within an SMSF? An A to Z look at the acconting isses to conside when paying benefits on the death of a membe
Spe Basics 2012 An NTAA Back to Basics Semina An A to Z Gide to Completing the 2012 SMSF Annal Retn It s essential! In this segment we povide a detailed look at the pocess of pepaing the 2012 SMSF Annal Retn. We closely examine what s eqied to complete the Income, Expenses, Membe infomation and Reglatoy infomation segments of the etn. Pt simply, we take the gesswok ot of pepaing the 2012 SMSF Annal Retn! Pepaing the Income & Dedctions sections of the 2012 SMSF Annal Retn Detailed NTAA gide to pepaing the income and expenses labels of the 2012 etn What ae the dange labels when pepaing the 2012 SMSF Retn? Do SMSFs ecognise income and claim dedctions on a cash o accals basis? Dealing with the NEW Income Tax Callation statement NTAA gide to the NEW epoting labels fo tax offsets How do SMSFs epot tansactions affected by the May 2012 bdget changes? Detailed gide to pepaing the NEW calclation statement on the 2012 SMSF etn Take the gesswok ot of completing the Membe Infomation section of the 2012 SMSF etn Is the Membe infomation segment only pepaed fo membes of the fnd as at 30 Jne 2012? Whee ae the details ecoded fo membes who died o left the fnd ding the income yea? Ae amonts olled ove fom othe fnds ding the yea ecoded in this section of the etn? A detailed examination of the infomation that mst be ecoded at the Allocated eanings o losses label Step-by-step gide to the codes and infomation eqiements associated with the econciliation pat of this label It s a mst to avoid mistakes! An in-depth look at pepaing the Reglatoy infomation section of the 2012 SMSF Annal Retn Ae tstees/pactitiones compelled to complete the Reglatoy infomation segment? Ae the dolla amonts based on histoical cost o maket vale? What ae the dange labels associated with pepaing the Reglatoy infomation segment of the 2012 SMSF etn? NEW disclose eqiements fo SMSF investments in collectables and pesonal se assets NEW label fo SMSFs aqiing exempt assets fom elated entities
Spe Basics 2012 An NTAA Back to Basics Semina A Compehensive Gide to Aditing an SMSF Eveything yo NEED to Know! We povide a vey pactical otline to aditing an SMSF. We examine the adit woking papes, infomation needed in the pemanent file and how infomation is extacted fom the financial acconts to adit an SMSF. This is not a high bow legalistic view of aditing SMSFs. This is abot olling p the sleeves and actally leaning how to adit an SMSF fom the gond-p. Step 1: Who can adit an SMSF What ae the new egistation eqiements to aditing an SMSF? Who is eqied to complete an exam to adit an SMSF? What ae the NEW CPD eqiements? 2010 Day 1 Spe Schools CD CONVERT TO WORD Step 2: Pepaing fo the adit of an SMSF Repesentation lette fom tstee Thee ae a nmbe of isses that need consideation befoe aditing an SMSF. Fed Flinstone as tstee fo We pin point these isses and povide pactical gidance on what s needed. The Bedock Speannation Fnd Rbble Accontants Pty Ltd What is essential in an adit engagement lette? 10 Rock Road Bedock 0000 Can the one fim pepae the acconts and adit the SMSF? TRUSTEES REPRESENTATIONS What is a tstee epesentation lette and when shold they be sed? The Tstee s have detemined that the Fnd is not a epoting ent ity fo the ye a ended 30 J ne <Yea> an d, theefoe, thee is no eqiem ent to apply acc onting standads and o the mandat oy What ae the advantages of eviewing a fnd s pio yea income tax etn? pofessional epo ting eqiements in Astalia in the p epaation an d p esentation o f the financial statements. Step 3: Actally condcting the adit of an SMSF Theefoe, the financial statements ae a special ppose financial epot which has been pepaed fo distibtion to membe s and to satisfy the eqiements of the Speannation Indsty (Spe vision) Act 1993 ( SISA ) and Speannation Indsty (Spevision) Reglations 1994 ( SISR ). We actally walk yo thogh the pocess of physically aditing an SMSF. The Tstees acknowledge esponsibility fo the te and fai pesentation in the financial statements of the state of affais and tansactions of the Fnd in confomity with the acconting poli cies otlined in Note 1 to the financial statements. The Tstees believe that the a cconting policies otlined in Note 1 We examine eveything involved in condcting the financial and spe compliance adit. of the financial statements ae appopiate fo the Fnd. The Tstees also acknowledge e sponsibility fo condcting the activities of the Fnd in accodanc e What testing pocedes shold SMSF aditos apply when detemining mateiality? with the eq iements of all goveni ng les, in clding the Fn d s tst deed and the SISA and SISR. We acknowledge o esponsibility fo the implementation and opeation of a cconting and intenal contol systems that ae designed to pevent and detect fad and eo. A detailed gide to the adit testing pocedes when aditing an SMSF Fo the ppose of expessing an opinion as to the tth and fainess of the financial statements and the compliance of the Fnd with the SI SA and SISR, we, the Tstees confim to the best of o knowledge State-of-the-at NTAA adit pogam which povides detailed gidance to aditing SMSFs and belief, the following epesentations made to yo ding yo examination: and contains a fll pdate on all the impotant changes 1. The Fnd has been mai ntained fo t he sole p pose of po viding sp eannation b enefits to its membes and thei dependents. 2. No disq alified p eson acts as diecto of th e t stee company o as an individ al t stee, as Step 4: What s needed to finalise the adit of an SMSF eqied by the SISA and SISR. 3. All individal tstees o diectos of the tstee company ae membes of the Fnd. Howeve if the Fnd is a single membe fnd then the membe is one of only two indivi dal tstee s; the sole Finalising the adit involves isses anging fom when to qalify an adit epot to the cicmstances diecto of the tstee of company; when o whee an thee Adito ae two di ectos of Contavention the tstee company, the tw o diectos ae elated o not employed by each othe. Repot ( ACR ) mst be completed fo the ATO. We addess all these isses! 4. We have made available to yo all stattoy ecods, acconting ecods and elated data fo the fnd, and cetify that all d ocments spplied, inclding photocopies o scanned docments ae te Latest NTAA gidance on when an SMSF adito is eqied to qalify an adit opinion epesentations of the oiginal docments (we note the adito eseves the ight to eq est oiginal docments whee cicmstances waant it). NTAA gide to the NEW ACR Fom the gond-p. 5. We a e c ently maintai ning all acconting ecods fo a pe iod of five yeas and al l membes statements and stattoy ecods fo a peiod of ten yeas. What penalties apply fo SMSF aditos who fail to identify and epot beaches? National Tax & Accontants Association Ltd: Septembe Octobe 2010 A detailed NTAA gide to the whistle blowe povisions It s a mst fo all SMSF aditos! Detailed NTAA Adit Case Stdy This segment of the semina will conclde with a compehensive adit case stdy. The case stdy will involve delegates actally going thogh the pocess of aditing an SMSF, inclding the pocess of the adit, foming an adit opinion and then a eview of the epoting obligations of the SMSF adito. In simple tems, delegates will eceive a flly woked example of what s needed to adit an SMSF. Impotantly, delegates will also be povided with a sample adit file which will inclde eveything that s needed in the pemanent and adit file to finalise an SMSF adit. This will give delegates the NTAA blepint on what s needed in an adit file befoe an SMSF adito can finalise the adit pocess.
Spe Basics 2012 REGISTRATION FORM This docment will be a tax invoice fo GST when flly completed and yo make a payment. National Tax & Accontants Association Ltd. NTAA s ABN: 76 057 551 854 NTAA Membeship No. Fim Addess State Postcode Telephone No. ( ) Facsimile No. ( ) Delegate 1 Email addess Date of attendance Please tick to have a vegetaian meal Delegate 2 Email addess Date of attendance Please tick to have a vegetaian meal (Please pint fist name and last name) Note: Please photocopy whee moe than two delegates. Chage fo semina attendees The Book of Rates 2011/12 Total (incl. GST) Send cheqe o povide cedit cad details Mastecad Visa Amex Cad No. Expiy Date Name on Cad Signate Please etain this oiginal docment as yo tax invoice V10 BKB BTB TTB PTB MTB Registe online at www.ntaa.com.a Sydney Spe Basics 2012 Dates and Venes SMC Confeence & Fnction Cente, 66 Golbn Steet, Sydney 16 Novembe 2012 (Fi) Paamatta The Sebel Paamatta, 350 Chch Steet, Paamatta 13 Novembe 2012 (Tes) Melbone Leonda by the Yaa, 2 Wallen Road, Hawthon 27 Novembe 2012 (Tes) Bisbane Hilton Bisbane, 190 Elizabeth Steet, Bisbane 23 Novembe 2012 (Fi) Peth Rendezvos Obsevation City Hotel, The Esplanade, Scaboogh 20 Novembe 2012 (Tes) Canbea Hyatt Hotel, Commonwealth Avene, Yaalmla 09 Novembe 2012 (Fi) Fax cedit cad details to: NTAA on 1300 306 351 Post to: NTAA 29 Palmeston Ces Sth Melbone VIC 3205 If yo have any othe qeies please call (03) 9209-9999 If faxing, please complete these two panels, photocopy and fax back to 1300 306 351 If paying by cheqe, please complete & mail to 29 Palmeston Cescent, Soth Melbone Vic 3205 Spe Basics 2012 Cost and Registation Registation: Between 8.00am and 9.00am Dation: 9.00am to 5.00pm Cost: Incldes compehensive notes, tea and coffee on aival, lnch, moning and aftenoon tea Membes of the NTAA One delegate $399 pe day (incl. GST) Non-Membes* of the NTAA One delegate $499 pe day (incl. GST) (Note(*): Registation incldes 3 months fll membeship) Book of Rates Live We have taken o hadcove pblication, the Book of Rates, and tned it into an online, inteactive pblication that will be pdated weekly, so that yo ae constantly able to access the latest: Income tax, FBT, CGT, GST ates and tables; changes to dedctions; pdated ates of depeciation; State Land Taxes, Stamp Dties and Payoll Taxes; Excise Dties and Fel Tax Cedits; and diffeing ates of payments and allowances made by Centelink and the Family Assistance Office as they ae changed thoghot the yea. FREE to cent membe sbscibes The geat news fo membes who sbscibe to this yea's hadcopy edition of the Book of Rates is that fo evey copy yo pchase ($77 fo single copies), yo will have immediate access to the Book of Rates Live FREE p ntil 30 Jne 2013 a hge saving off the nomal annal sbsciption of $154. If yo wold like to ode yo copy of the Book of Rates 2011/12 and eceive yo fee sbsciption to the Book of Rates Live, please inclde it in yo egistation panel (left) o call 1800 808 105 o visit o website at www.ntaa.com.a Registe online www.ntaa.com.a