The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Identify and manage legislative and organisational reporting requirements relating to SMSF
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Identify legislative and organisational reporting requirements that impact on administrative processes and procedures Completed |
Evidence:
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Review and confirm required activity reporting against identified legislative and organisational requirements Completed |
Evidence:
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Seek specialist advice from external service providers on areas outside own knowledge area or authority limits Completed |
Evidence:
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Identify and prepare member documentation according to legislative and organisational reporting requirements Completed |
Evidence:
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Manage SMSF transactions
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Review trustee’s instructions to confirm that transaction can be undertaken and meets legislative, trust deed and organisational requirements Completed |
Evidence:
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Liaise with external service providers, where relevant, to validate that trustee instructions have been implemented Completed |
Evidence:
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Confirm that funds received from investments are reinvested according to trustee and trust deed instructions and organisational procedures Completed |
Evidence:
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Confirm accuracy and timelines of allocations, processing of contributions and rollovers and all other payments into fund are in accordance with legislative and operational guidelines Completed |
Evidence:
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Reconcile contributions according to trustee instructions Completed |
Evidence:
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Review timelines of benefit payments out of fund and take required actions according to legislative guidelines and organisational procedures Completed |
Evidence:
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Manage concerns or complaints raised in relation to internal service provision or external service providers
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Confirm details of concern or complaint with trustee Completed |
Evidence:
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Respond to trustee concern or complaint in a timely manner and according to legislative requirements and operational procedures Completed |
Evidence:
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Engage with and discuss details of trustee concern or complaint with required stakeholders according to organisational procedures Completed |
Evidence:
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Action agreed solution to trustee concern or complaint according to organisational procedures Completed |
Evidence:
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Manage SMSF member records
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Review member’s employment records and ensure currency of information on contributions Completed |
Evidence:
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Process and review member statements and ensure supporting documentation is supplied when required Completed |
Evidence:
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Issue and store copies of documentation to ensure compliance with organisational policies and procedures Completed |
Evidence:
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Finalise SMSF administration activities
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Complete annual review process according to legislative requirements and organisational policies and procedures Completed |
Evidence:
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Complete trustee reporting, member reporting and insurance reporting according to legislative requirements and organisational policies and procedures Completed |
Evidence:
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Complete Australian Taxation Office (ATO) annual taxation return and independent auditor report in required format for lodgement according to legislative requirements and organisational policies and procedures Completed |
Evidence:
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Process and review member statements and supply supporting documentation according to organisational policies and procedures Completed |
Evidence:
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Issue and store copies of documentation according to organisational policies and procedures Completed |
Evidence:
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