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 explain taxation requirements for fund structures and adviser role to the trustee
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The importance of receiving complete advice on taxation requirements and implications for fund and appropriate providers/referrals for specialist advice are identified Completed |
Evidence:
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Scope and authority of taxation information able to be provided are explained to the client/trustee Completed |
Evidence:
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Sources of taxation information appropriate to self-managed superannuation funds are identified Completed |
Evidence:
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Taxation and other requirements that apply to trustee and self-managed superannuation fund structures within the scope of authority are explained to the client/trustee Completed |
Evidence:
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Clients/trustees are informed of the role of the Australian Taxation Office (ATO) in regulating/supervising self-managed superannuation funds Completed |
Evidence:
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Clients/trustees are informed of fund residency requirements for taxation purposes Completed |
Evidence:
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Identify and explain implications for contributions to the trustee within the scope of adviser authority
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Appropriate providers/referrals of taxation advice are identified and scope of taxation information on contributions able to be provided is explained Completed |
Evidence:
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Clients/trustees are informed of the types of allowable contributions that the self-managed superannuation fund can claim and investment restrictions Completed |
Evidence:
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Taxation treatment of contributions to self-managed superannuation funds is explained to the client/trustee Completed |
Evidence:
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Taxation concessions for the contributor are identified and explained to the client/trustee Completed |
Evidence:
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Taxation impacts and risks regarding the selection of various contributions are reinforced to client/trustee Completed |
Evidence:
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Client/trustee is informed of the treatment of rollovers, including 'in specie contribution' issues Completed |
Evidence:
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The client/trustee is informed to seek advice for higher level/specialist advice if required Completed |
Evidence:
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Identify and explain implications for fund income/assets to the trustee
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The importance of receiving complete advice on implications for fund income and assets is identified Completed |
Evidence:
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Appropriate providers/referrals for this specialist advice are identified Completed |
Evidence:
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The treatment of reserves and residual fund assets are explained to the client/trustee within scope of adviser authority Completed |
Evidence:
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Client/trustee is informed of taxation implications and benefits relating to investment earnings including capital gains tax (accumulation and pensions) within scope of adviser authority Completed |
Evidence:
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Goods and Services Tax (GST) and Pay As You Go (PAYG) implications for fund income, expenditure and benefit payments are explained to the client/trustee within scope of adviser authority Completed |
Evidence:
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Fund tax deductions available to self-managed superannuation funds for clients/trustee are identified within scope of adviser authority Completed |
Evidence:
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Fund credits for clients/trustee are identified within scope of adviser authority Completed |
Evidence:
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Client/trustee is informed of the treatment of franking credits (accumulation and pension within scope of adviser authority Completed |
Evidence:
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The impact of deductions on fund taxation outcome is explained to clients/trustee within scope of adviser authority Completed |
Evidence:
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Identify and explain implications for benefits to the trustee
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Treatments of lump sum Eligible Termination Payment (ETP) payments (tax calculations, tax reporting) considerations are explained to the client/trustee Completed |
Evidence:
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The client/trustee is advised of the superannuation surcharge considerations and reporting issues Completed |
Evidence:
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Taxation of income streams paid to the individual from the self-managed superannuation funds is explained to client/trustee within scope of adviser authority Completed |
Evidence:
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The client/trustee is informed of the treatment of death benefits, and binding, non-binding or no beneficiary nominations (lump sum and pension issues) within scope of adviser authority Completed |
Evidence:
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The client/trustee is made aware of treatment of complying and non-complying pensions (taxation and social security) issues within scope of adviser authority Completed |
Evidence:
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The client/trustee is informed of the different Reasonable Benefit Limit (RBL) treatments and reporting issues pertaining to self-managed superannuation funds Completed |
Evidence:
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The client/trustee is informed to seek advice for higher level/specialist advice if required Completed |
Evidence:
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