Course overview
In this course, students will develop understanding of: superannuation as a saving and wealth creation vehicle; the financial planning principles and advice involved in superannuation investment strategy; and tax implications associated with superannuation and retirement planning. Superannuation environment: brief history, social implications of retirement, funding requirement for retirement, regulatory environment, complying funds, nature and limits of investments, fund types and characteristics; self-managed superannuation funds (SMSF): role, establishment, operation and requirements; superannuation contributions and tax: contribution types, tax implications of contributions and investments, Superannuation Guarantee (SG) and contribution rules; fund preservation and release: preserved and non- preserved benefits, restricted and non-restricted benefits, types of condition of release; superannuation benefits: tax free and taxable components of benefits, lump sum, account-based pension, income streams, tax implication of benefits payments, commutation, social security benefits and superannuation retirement planning; death benefits: superannuation and tax laws applicable for death benefits, proportioning rule, identification of beneficiaries and nomination of beneficiaries.
Course learning outcomes
- Review the functions of the superannuation industry and its legislative requirements, and analyse their implications for industry participants and the conduct of their business.
- Appraise the role of superannuation as a savings and investment vehicle for the funding of retirement benefits.
- Analyse the stages of superannuation, contribution, accumulation, and receipt of benefits, and the tax considerations and strategies associated with each stage.
- Evaluate the preservation of superannuation benefits and draw conclusions on the conditions relevant to their release.
- Investigate the relationships between superannuation and estate planning, and assess and apply these links to the development of financial plans over the client's financial life-cycle.
- Demonstrate UniSA Business Enterprise Skills in the context of the Financial Planning discipline: i) Self Management (advanced level); ii) Problem Solving (intermediate level); and iii) Written Communication (intermediate level).