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?
Establish knowledge of client/trustee regarding self-managed superannuation funds
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Key features, structures and operations of a self-managed superannuation fund are explained to the client/trustee Completed |
Evidence:
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Client/trustee is informed of the importance of receiving complete advice on taxation requirements and implications for the fund and adviser explains the scope and authority of taxation information they are able to provide Completed |
Evidence:
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Sources of taxation information appropriate to self-managed superannuation funds and appropriate providers/referrals for this specialist advice are identified Completed |
Evidence:
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Client/trustee is informed of the roles played by the adviser, intermediaries and issuers Completed |
Evidence:
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Client/trustee is informed of the process to appoint trustees and trustee duties and responsibilities and liabilities are explained Completed |
Evidence:
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Client/trustee is informed of the key issues that are considered when evaluating self-managed superannuation fund applications Completed |
Evidence:
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Key features, characteristics and risks of different types of self-managed superannuation fund income streams are explained to client/trustee Completed |
Evidence:
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Client/trustee is informed of the associated risks with establishing a self-managed superannuation fund Completed |
Evidence:
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Client/trustee is informed of the steps required to establish a self-managed superannuation fund Completed |
Evidence:
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The processes of winding up a self-managed superannuation fund benefits is explained to the client/trustee Completed |
Evidence:
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Identify and explain relevant fund legislative requirements to the client/trustee
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Sources of legislative information appropriate to self-managed superannuation funds are identified Completed |
Evidence:
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Legislative requirements that apply to client/trustee and self-managed superannuation fund structures are explained to the client/trustee Completed |
Evidence:
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The client/trustee is informed of the role of the principal regulator in managing self-managed superannuation funds Completed |
Evidence:
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The client/trustee is informed of the role of related regulators in managing, operating and supporting self-managed superannuation funds Completed |
Evidence:
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The client/trustee is informed of the ongoing legislative requirements to maintain a compliant self-managed superannuation fund Completed |
Evidence:
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The client/trustee is informed of the consequences of a self-managed superannuation fund becoming non-compliant Completed |
Evidence:
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Identify and explain relevant fund operational requirements to the client/trustee
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Sources of operational information appropriate to self-managed superannuation funds are identified Completed |
Evidence:
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Operational requirements that apply to the client/trustee of a self-managed superannuation fund structure are explained to the client/trustee Completed |
Evidence:
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The client/trustee is informed regarding the operation of trust deeds and ongoing deed amendment and requirements Completed |
Evidence:
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The client/trustee is informed of purposes of establishing life insurance through a self-managed superannuation fund Completed |
Evidence:
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The client/trustee is informed of the requirements of establishing an investment strategy considering investment restrictions for a self-managed superannuation fund Completed |
Evidence:
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The client/trustee is informed of the application of Superannuation Industry (Supervision) (SIS) preservation rules Completed |
Evidence:
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Identify and explain implications for contributions to the client/trustee
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The client/trustee is informed of the types of allowable contributions that the self-managed superannuation fund can claim, within the scope of its authority Completed |
Evidence:
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Regulations regarding a person's eligibility to contribute to a self-managed superannuation fund are explained to the client/trustee Completed |
Evidence:
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The treatment of business real property is explained to the client/trustee Completed |
Evidence:
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self-managed superannuation fund contribution rules, including in specie requirements are explained to the client/trustee Completed |
Evidence:
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Allocation of contributions to individual member accounts is explained to the client/trustee Completed |
Evidence:
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The client/trustee is advised to seek advice for higher level/specialist and/or comprehensive advice if required Completed |
Evidence:
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Identify and explain implications for fund income/assets to the client trustee
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Scope of information on fund income and assets able to be provided are explained to the client/trustee Completed |
Evidence:
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The importance of receiving complete advice on implications for fund income and assets and appropriate providers/referrals for this specialist advice are identified Completed |
Evidence:
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Fund deductions available to self-managed superannuation funds are identified Completed |
Evidence:
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Fund credits available to self-managed superannuation funds are identified Completed |
Evidence:
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Impact of deductions on funds is explained to the client/trustee Completed |
Evidence:
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Life insurance deductions are identified and explained to the client/trustee Completed |
Evidence:
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In specie deductions are identified and explained to the client/trustee Completed |
Evidence:
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Operation of fund reserves is explained to the client/trustee Completed |
Evidence:
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Sole purpose test (appropriate/inappropriate self-managed superannuation fund investments) are explained to the client/trustee Completed |
Evidence:
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Special self-managed superannuation fund investment strategies, including borrowing/lending restrictions, are explained to the client/trustee Completed |
Evidence:
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The client/trustee is informed of the reporting issues regarding the treatment of franking credits (accumulation and pension) Completed |
Evidence:
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The client/trustee is informed of implications and benefits relating to investment earnings (accumulation and pensions) Completed |
Evidence:
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Identify and explain implications for benefits to the client/trustee
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The requirements for accessing assets in self-managed superannuation funds for the payments of benefits are explained to the client/trustee Completed |
Evidence:
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Key features, characteristics and risks of different types of self-managed superannuation fund income streams are explained to the client/trustee Completed |
Evidence:
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The process of setting up an income stream (i.e. pensions) from a self-managed superannuation fund is explained to the client/trustee Completed |
Evidence:
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Calculation and operation of member accounts in both accumulation and pension phases are explained to the client/trustee Completed |
Evidence:
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Treatments of lump sum Eligible Termination Payment (ETP) payments considerations are explained to the client/trustee Completed |
Evidence:
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The client/trustee is advised of the superannuation surcharge considerations Completed |
Evidence:
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The client/trustee is informed of the treatment of death benefits (lump sum and pension issues) 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 advised to seek advice for higher level/specialist advice if required Completed |
Evidence:
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