Class Ignite 2024 Live Blog – Day 2

In a detailed and engaging presentation, Meg Heffron, Managing Director of Heffron, shared valuable insights at Class Ignite 2024 about the changing world of SMSF. She focused on strategic considerations for SMSF advisers and accountants, aiming to enhance client benefits under current and forthcoming superannuation regulations.

Key takeaways:

• Legislative updates and strategies: Meg provided updates on how recent and upcoming legislative changes could impact superannuation strategies and client decision-making.
• Practical examples and strategies: The session highlighted actionable strategies for SMSF professionals, including optimising contributions and rebalancing accounts between partners, demonstrated through practical scenarios like those of “Bill and Donna.”
• Advanced planning techniques: Meg emphasised the importance of strategic planning in superannuation management, explaining how targeted approaches like death benefit planning and re-contribution strategies can lead to significant long-term tax savings.
• Interactive discussions: Through a series of scenario-based discussions, Meg clearly showed the benefits of contributions splitting, explaining their impact on SMSF management and client financial health in an easy-to-understand way.

Session impact:

Meg Heffron’s presentation provided a detailed roadmap for navigating the complexities of SMSF advisory amid new legislative frameworks. Her insights provided attendees with essential strategies to improve their advisory services, ensuring that clients not only comply with regulations but also maximise their superannuation benefits.

It’s been fantastic to see delegates connecting with sponsors and hearing about the exciting innovations they’re bringing to the SMSF and accounting industry.

Be sure to visit their booths and explore how they can empower your business.

Proudly supported by:

• Platinum sponsors – TOA Global, Kloud Connect and Solutions Centric
• Gold sponsors – Accountancy Insurance, accountantsGPS, Accurium, ANZ, ASF Audits, ATOmate, Canni Money, Cloudoffis, Evolv Super Audits, Heffron SMSF, Macquarie Group, Oxygen Home Loans, SMSF Auditing Australia, SMSF Association, SuperRecords Pty Ltd
• Coffee sponsor – Lime Actuarial

Are you getting the most out of Class or NowInfinity? Are you up to date on the latest features and their benefits?

If you’re a Class or NowInfinity client, come see the team for a free health check at Class Ignite to get the most value out of your software.

In just 15 minutes you can get some great tips to increase efficiency in your practice. Chat with our product experts on Level 4 at the event.

Peter Burgess has just shared valuable insights in his recent presentation at the Class Ignite event.

• Non-arm’s length income (NALI) rules: Peter discussed the changes enacted on 28 June 2024, emphasising that NALI no longer applies to general and specific expenses, affecting all fund income.
• Capital gains tax (CGT) adjustments: He explained the proportion approach to CGT and NALI, impacting how capital gains are taxed in SMSFs.
• Division 296 developments: Peter outlined the key components under consideration, including the treatment of LRBA amounts and rollovers, important for members nearing the $3 million cap.
• Upcoming legislation: Anticipation around Treasury Laws Amendments still in the Senate, with changes aimed at making superannuation concessions fairer.

This session highlighted the current landscape and prepared attendees for future legislative shifts. Thanks Peter for an informative update!

Good morning, #ClassIgnite2024 attendees! Get ready to kick-start your day with our morning sessions on Legislation and regulations update with Peter Burgess (SMSF Association) and the benefits of SMSF documentation with Michael Spakman and Kevin McFadden (Class). Today’s morning line-up is packed with insights you won’t want to miss.

We had an amazing networking event at Zeta Bar last night. It was an evening of connections, conversations, and unforgettable moments. If you missed it, don’t worry: there are still plenty of networking opportunities ahead today.

Stay tuned for more exciting updates throughout the day and keep the conversations going. #ClassIgnite2024 #morningsessions #networking