SMSF Rules and In-House Asset Test

This document contains practice exercises related to Australian Self-Managed Superannuation Funds (SMSFs). It covers topics such as contribution limits for individuals and corporations, the Small Business CGT exemption, and scenarios where SMSF investments might breach the in-house asset test. There are also questions about Limited Recourse Borrowing Arrangements (LRBAs) and the permitted uses of borrowed funds within an SMSF.

INTRODUCTION
This workbook provides self-assessed exercises which cover the key superannuation and SMSF
concepts.
This is a formative assessment so you can monitor your understanding of the material before you
complete the assessed activities.
Monarch will not assess this workbook, however they may access it if you require a second attempt
to achieve competency.
Some exercises will ask you to move the text boxes. To do this, left click on the text box and it will
look like this. Hover over the box until you see the 4 arrows in each direction, then left click and drag
to the required spot.
We suggest that you save your changes as you work through the book.
If you make a mistake moving boxes around, you can just close the document without saving, or
download the workbook again.
Simply complete the exercises at your own pace and then turn to page 24 for the solutions so you
can cross check your answers.
You should then upload your completed workbook in the Learning Management System
If you have any questions regarding this workbook please contact [e-mail]. and
provide details of your concerns.

SELF-ASSESSED EXERCISES
CONTRIBUTION TYPES
Exercise:
Move the text boxes to match each contribution with a contribution type.
CONTRIBUTION CONTRIBUTION TYPE
Superannuation Guarantee
After-tax member contribution
Personal deductible contribution
Salary Sacrifice contribution
Spouse contribution
Government Co-contribution
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CONCESSIONAL NON-CONCESSIONAL CONCESSIONAL
CONCESSIONALNON-CONCESSIONAL NON-CONCESSIONAL

CAPS
Exercise:
Move the text boxes to match each scenario with a cap limit.
CONDITIONS CAP LIMIT
Non-Concessional
contribution
Total Superannuation Balance < $1.4 million
Under age 65
Concessional
contribution
Under age 65
Non-Concessional
contribution
Total Superannuation Balance < $1.4 million
Age 65 - 74; meets the work test
Personal Contributions Age 75; meets work test
Concessional
contribution
Under age 65;
SG + personal contributions combined
Pension benefits cap Retirement income stream phase
Non-Concessional
contribution
Under age 65;
Total Superannuation Balance > $1.6 million
Pension benefits cap Transition to Retirement income stream
phase
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$100,000Not allowed$25,000 $1.6 million

WHO CAN CONTRIBUTE TO SUPER?
Exercise:
Move the text boxes to show who can and cannot contribute to super.
SCENARIO CAN THEY CONTRIBUTE TO SUPER?
Female; age 70; works 3 full days per week
Male; age 59; receives disability benefits
Male; age 63; works 10 hours per week at Bunnings
Female; volunteer work 25 hours per week; age 66
Male; retired; age 67
Female; single mother; unemployed; age 25
SUPERANNUATION GUARANTEE
CALCULATE THE ANNUAL SUPERANNUATION GUARANTEE FOR THESE CLIENTS:
Mr Jones earns an annual salary of $85,000 plus super
Mr Smith's annual salary is $90,000, including super
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YES YES
YES
NO
NOYES

GOVERNMENT CO-CONTRIBUTION
CALCULATE THE GOVERNMENT CO-CONTRIBUTION FOR THESE CLIENTS:
Mr Ali earns an annual salary of $32,000;
and makes $880 non-concessional contribution
MissLeong earns an annual salary of $36,000;
and makes $2000 non-concessional contribution
**If you would like to try other variations for co-contributions you can use the moneysmart
calculator**
https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/super-co-contribution-
calculator
SPOUSE CONTRIBUTION
CALCULATE THE TAX REBATE FOR THESE SPOUSE CONTRIBUTIONS:
Henry contributes $3,000 to Sarah's super
Sarah earns $34,000 this year
Adele contributes $5,000 to John's super
John earns $36,000
STAYING WITHIN THE CAPS
SALARY SACRIFICE
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Calculate the maximum amount of salary sacrifice contributions available for each of the
following:-
INCOME DETAILS
Income = $100,000 + super
Income = $200,000 + super
Income = $58,000 + super
Income = $90,000 including super
EARNINGS TAX
Disregarding any tax deductions or tax credits, what is the maximum earnings tax rate that will
apply in each scenario?
PHASE EARNINGS TYPE TAX RATE
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Retirement income stream phase Income earnings
Accumulation phase Capital gains > 12months
Retirement income stream phase All capital gains
Transition-to-Retirement income stream
phase
Income earnings
Accumulation phase Income earnings
Transition-to-Retirement income stream
phase
Capital gains < 12months
Accumulation phase Capital gains < 12months
Transition-to-Retirement income stream
phase
Capital gains > 12months
FRANKING CREDITS AND SMSF’s
Listed ASX companies pay a company tax rate of 30%. A dividend with franking credits will result in
a total refund of franking credits in the retirement phase income stream; and a refund of half the
franking credits in the other phases of super.
The first line of the following table is completed for you.
Please complete the rest of the table.
DIVIDEND
PAID
FRANKING
CREDIT
After-tax income
retirement income stream phase
After-tax income
accumulation phase
$700 $300 $1,000 ($700+$300) $850 ($700+$150)
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$1,200 $514
$3,000 $1,285
$4,600 $1,971
$2,000 $857
$1,500 $642
CONDITIONS OF RELEASE
Which of the following members satisfy a condition of release and are therefore able to access part
or all of their superannuation account? Assume that all members have a superannuation account
balance which is 100% preserved.
PHASE CONDITION OF RELEASE
Sam has reached his preservation age of 57 and has retired from work
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Mary is 62, leaving her current employer, starting a new full-time job
Joe, age 59, works full-time, commences TTR
Frank is 75 and works full-time
Sarah receives a disability pension for 52weeks and can't meet
reasonable and immediate family living expenses
Tony is 52 and has retired from work
Sally has died at the of 36
BENEFIT COMPONENTS
You have been provided with the following components of an existing account-based pension. The
fund has produced earnings of $44,000 in the last 3 months. Allocate the earnings to the correct
component/s and display the total adjusted benefit.
Benefit Earnings New benefit
Tax-free component $100,000
Taxable component1 $300,000
Total $400,000
1 Element taxed in the fund.
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Since the benefit was last updated, pension payments totalling $20,000 have been paid to the client.
Please update the table to reflect the pension payments.
New benefit
from above
Pension
payments
Balance
Tax-free component
Taxable component2
Total
Your client, Ben, has an accumulation balance in the following proportions:
2 Element taxed in the fund.
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Benefit
Tax-free component $ 50,000
Taxable component3 $275,000
Total $325,000
Since the balance was last updated, superannuation guarantee payments of $4,000 (net of tax) have
been credited to Ben's account. He has also made an after-tax contribution of $10,000. His account
has also produced earnings in the amount of $22,000.
Please update the table to reflect the above transactions.
Benefit % Transactions Balance %
Tax-free component $ 50,000
Taxable component4 $275,000
Total $325,000
3 Element taxed in the fund.
4 Element taxed in the fund.
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Matthew also has an accumulation account but he is 62 and has retired permanently from the
workforce. Matthew is going to withdraw a lump sum of lump sum of $300,000 and re-contribute the
$300,000 as a non-concessional contribution, utilising the bring-forward rule.
Complete the table to show how his actions will affect his super components.
Benefit Part
withdrawal
Balance Re-
contribution
New
balance
New
proportion
Tax-free 10% $ 86,000
Taxable 90% $774,000
Total 100% $860,000
Penelope has reached preservation age and retired but she is still under the age of 60. She is
withdrawing a large lump sum amount from her accumulation fund, however, she does not want to
pay any withdrawal tax at all. Penelope would like to know how much she can withdraw without
paying any tax. Her total superannuation benefit is provided below.
Please complete the rest of the table.
TIP: The % of each component of the withdrawal must be the same as the % of each component of
the total benefit.
Total
Benefit
% Withdrawal %
Tax-free component $156,000
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Taxable component5 $624,000
Total $780,000
WITHDRAWAL TAX
You have been provided with the following benefit which is split between tax-free and taxable
YOUR BENEFIT
TAX-FREE COMPONENT 30% $225,000
TAXABLE COMPONENT (TAXED ELEMENT) 70% $525,000
TOTAL BENEFIT 100% $750,000
Complete the missing sections in the following tables:-
Assumptions: Marginal Tax Rate =37% + Medicare levy
YOUR BENEFIT LUMP SUM WITHDRAWAL TAX
AGE 59
LUMP SUM WITHDRAWAL
TAX
5 Element taxed in the fund.
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AGE 63
$225,000tax-free
$525,000taxable
$750,000
YOUR BENEFIT PARTIAL LUMP SUM
WITHDRAWAL
TAXAGE 58 TAX
AGE 60
$225,000tax-free
$525,000taxable
$750,000 $300,000
YOUR BENEFIT RETIREMENT
PENSION
WITHDRAWAL
PENSION WITHDRAWAL TAX
AGE 58
PENSION
WITHDRAWAL TAX
AGE 61
$225,000tax-free
$525,000taxable
$750,000 $30,000
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YOUR BENEFIT TTR
PENSION
WITHDRAWAL
PENSION WITHDRAWAL TAX
AGE 59
PENSION
WITHDRAWAL TAX
AGE 68
$225,000tax-free
$525,000taxable
$750,000 $50,000
YOUR LUMP
SUM DEATH
BENEFIT
SIS DEPENDANT &
TAX DEPENDANT
Tax treatment
SIS DEPENDANT &
NON-TAX DEPENDANT
Tax treatment
NON-SIS DEPENDANT
z
Tax treatment
$225,000tax-free
$525,000taxable
$750,000
Now assume that the member has died and the benefit is to paid from the super fund as a lump sum.
Complete the tax treatment of the death benefit proceeds in the following table:
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THE TRANSFER BALANCE ACCOUNT
Exercise:
Move the text boxes to show the items in the transfer balance account.
DEBIT ITEMS CREDIT ITEMS NOT RECORDED IN
TRANSFER BALANCE
ACCOUNT
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earnings on retirement
pension account
pension withdrawalsTransition to Retirement
income stream

You have been provided with the following client information:
Max is 67 years old and is permanently retired.
Max had an existing account-based pension valued at $800,000 @ 30 June 2017 and this
pension is still in operation.
Max took a 'lump sum' withdrawal of $200,000 from his original pension, on 30 July
2017.
Max has received earnings of $50,000 on his original pension which was credited at the
end of July 2017.
Max has received pension payments totalling $40,000 since 1 July 2017.
Max started an additional account-based pension of $500,000 on 7th October 2017.
Complete the following table to show what Max's transfer balance account could look like.
Transfer balance account: Max
Date
Debit Credit Balance
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price of new income
stream from 1/07/17
transfers back to
accumulation
lump sum withdrawal
from pension account
transfer to a new
pension
reversionary pensions
after 12 mths
existing pension
balances @ 30/06/17

SELF-MANAGED SUPERANNUATION FUNDS
Exercise:
Select whether each of the following assets can be acquired from a related party of an SMSF
Asset Can this asset be 'acquired' from a
related party of an SMSF?
Telstra shares
A factory leased by a related party
1000 units in Platinum International (managed fund)
Related party company shares worth 3% of the total value
of the SMSF
Related party company shares worth 6% of the total value
of the SMSF
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YES YES
YES
NO
YES

Exercise:
Which of the following structures is corporate and which are individual?
Trustee structure Corporate/
Individual
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This is an extract from the form that is used when remitting a contribution to a superannuation
fund, which is sourced from a small business resulting in a small business CGT exemption.
What is the maximum amount that could be seen in each box?
Exercise:
Which of the following scenarios breaches the in-house assets test?
Scenario Allowed or breach
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The XYZ SMSF has a fund balance of $800,000.
It has investments in a related party company valued at $32,000
The ABC SMSF has a fund balance of $3,000,000.
It has investments in a related party trust valued at $180,000
The XYZ SMSF has a fund balance of $950,000.
It has investments in a beach house valued at $400,000 and the
members pay market rates to stay in the house over summer.
Exercise:
If an SMSF has borrowed money under one Limited Recourse Borrowing Arrangement (LRBA), for
which of the following can the borrowed funds be used to purchase in the open market?
Asset YES/NO
Two blocks of land on separate titles
A warehouse
A residential property
10 gold bullion bars + 10 silver bullion bars
To add an extension on a property which is held in a bare trust
An apartment with a furnishings package
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SOLUTIONS
CONTRIBUTION TYPES
Exercise:
Move the text boxes to match each contribution with a contribution type.
CONTRIBUTION CONTRIBUTION TYPE
Superannuation Guarantee
After-tax member contribution
Personal deductible contribution
Salary Sacrifice contribution
Spouse contribution
Government Co-contribution
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CONCESSIONAL
CONCESSIONAL
CONCESSIONAL
NON-CONCESSIONAL
NON-CONCESSIONAL
NON-CONCESSIONAL

27
CAPS
Exercise:
Move the text boxes to match each scenario with a cap limit.
CONDITIONS CAP LIMIT
Non-Concessional
contribution
Total Superannuation Balance < $1.4 million
Under age 65
Concessional
contribution
Under age 65
Non-Concessional
contribution
Total Superannuation Balance < $1.4 million
Age 65 - 74; meets the work test
Personal Contributions Age 75; meets work test
Concessional
contribution
Under age 65;
SG + personal contributions combined
Pension benefits cap Retirement income stream phase
Non-Concessional
contribution
Under age 65;
Total Superannuation Balance > $1.6 million
Pension benefits cap Transition to Retirement income stream
phase
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$100,000/$300,000
$100,000
$25,000
Not allowed
$25,000
$1.6 million
Not applicable
Not allowed

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WHO CAN CONTRIBUTE TO SUPER?
Exercise:
Move the text boxes to show who can and cannot contribute to super.
SCENARIO CAN THEY CONTRIBUTE TO SUPER?
Female; age 70; works 3 full days per week
Male; age 59; receives disability benefits
Male; age 63; works 10 hours per week at Bunnings
Female; volunteer work 25 hours per week; age 66
Male; retired; age 67
Female; single mother; unemployed; age 25
SUPERANNUATION GUARANTEE
CALCULATE THE ANNUAL SUPERANNUATION GUARANTEE FOR THESE CLIENTS:
Mr Jones earns an annual salary of $85,000 plus super
Mr Smith's annual salary is $90,000, including super
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YES
YES
YES
NO
NO
YES
$85,000 * 9.5% = $8,075
($90,000/1.095) X 9.5% = $7,808

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GOVERNMENT CO-CONTRIBUTION
CALCULATE THE GOVERNMENT CO-CONTRIBUTION FOR THESE CLIENTS:
Mr Ali earns an annual salary of $32,000;
and makes $880 non-concessional contribution
Miss Leong earns an annual salary of $36,000;
and makes $2000 non-concessional contribution
**If you would like to try other variations for co-contributions you can use the moneysmart
calculator**
https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/super-co-contribution-
calculator
SPOUSE CONTRIBUTION
CALCULATE THE TAX REBATE FOR THESE SPOUSE CONTRIBUTIONS:
Henry contributes $3,000 to Sarah's super
Sarah earns $34,000 this year
Adele contributes $5,000 to John's super
John earns $36,000
STAYING WITHIN THE CAPS
SALARY SACRIFICE CONTRIBUTIONS
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$880 * 50% = $440
50c/$1.00; maximum $500
$540
$540

30
Calculate the maximum amount of salary sacrifice contributions available for each of the
following:-
INCOME DETAILS
Income = $100,000 + super $25,000 - $9,500 = $15,500
Income = $200,000 + super $25,000 - $19,000 = $6,000
Income = $58,000 + super $25,000 - $5,510 = $19,490
Income = $90,000 including super $25,000 - $7,808.21 = $17,191
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EARNINGS TAX
Disregarding any tax deductions or tax credits, what is the maximum earnings tax rate that will
apply in each scenario?
PHASE EARNINGS TYPE TAX RATE
Retirement income stream phase Income earnings 0%
Accumulation phase Capital gains > 12months 10%
Retirement income stream phase All capital gains 0%
Transition-to-Retirement income stream
phase
Income earnings 15%
Accumulation phase Income earnings 15%
Transition-to-Retirement income stream
phase
Capital gains < 12months 15%
Accumulation phase Capital gains < 12months 15%
Transition-to-Retirement income stream
phase
Capital gains > 12months 10%
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FRANKING CREDITS AND SMSF’s
Listed ASX companies pay a company tax rate of 30%. A dividend with franking credits will result in
a total refund of franking credits in the retirement phase income stream; and a refund of half the
franking credits in the other phases of super.
The first line of the following table is completed for you.
Please complete the rest of the table.
DIVIDEND PAID FRANKING
CREDIT
After-tax income
retirement income
stream phase
After-tax income
accumulation phase
$700 $300 $1,000 ($700+$300) $850 ($700+$150)
$1,200 $514 $1,714 ($1200+$514) $1,457 ($1200+$257)
$3,000 $1,285 $4,285 ($3000+$1285) $3,642 ($3000+$642)
$4,600 $1,971 $6,571 ($4600+$1971) $5,585 ($4600+$985)
$2,000 $857 $2,857 ($2,000+$857) $2,428 ($2000+$428)
$1,500 $642 $2,142 ($1500+$642) $1,821 ($1500+$321)
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CONDITIONS OF RELEASE
Which of the following members satisfy a condition of release and are therefore able to access part
or all of their superannuation account? Assume that all members have a superannuation account
balance which is 100% preserved.
PHASE CONDITION OF RELEASE
Sam has reached his preservation age of 57 and has retired from work YES
Mary is 62, leaving her current employer, starting a new full-time job YES
Joe, age 59, works full-time, commences Transition to Retirement
Income stream
YES (limited to 10%
maximum via TTR pension)
Frank is 75 and works full-time YES
Sarah receives a disability pension for 52weeks and can't meet
reasonable and immediate family living expenses
YES subject to $10,000
maximum
Tony is 52 and has retired from work NO
Sally has died at the of 36 YES
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BENEFIT COMPONENTS
You have been provided with the following components of an existing account-based pension. The
fund has produced earnings of $44,000 in the last 3 months. Allocate the earnings to the correct
component/s and display the total adjusted benefit.
Benefit Earnings New benefit
Tax-free component $100,000 $11,000 $111,000
Taxable component6 $300,000 $33,000 $333,000
Total $400,000 $44,000 $444,000
Since the benefit was last updated, pension payments totalling $20,000 have been paid to the client.
Please update the table to reflect the pension payments.
New benefit
from above
Pension
payments
Balance
Tax-free component $111,000 $ 5,000 $106,000
Taxable component7 $333,000 $15,000 $318,000
Total $444,000 $20,000 $424,000
6 Element taxed in the fund.
7 Element taxed in the fund.
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Your client, Ben, has an accumulation balance in the following proportions:
Benefit
Tax-free component $ 50,000
Taxable component8 $275,000
Total $325,000
Since the balance was last updated, superannuation guarantee payments of $4,000 (net of tax) have
been credited to Ben's account. He has also made an after-tax contribution of $10,000. His account
has also produced earnings in the amount of $22,000.
Please update the table to reflect the above transactions.
8 Element taxed in the fund.
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Benefit % Transactions Balance %
Tax-free component $ 50,000 15.38 $10,000 NCC $60,000 16.62
Taxable component9 $275,000 84.62 $22,000
earnings
$4,000 SG
$301,000 83.38
Total $325,000 100 $36,000 $361,000 100
Matthew also has an accumulation account but he is 62 and has retired permanently from the
workforce. Matthew is going to withdraw a lump sum of lump sum of $300,000 and re-contribute the
$300,000 as a non-concessional contribution, utilising the bring-forward rule.
Complete the table to show how his actions will affect his super components.
Benefit Part
withdrawal
Balance Re-
contribution
New
balance
New
proportion
Tax-free 10% $ 86,000 $ 30,000 $ 56,000 $300,000 $356,000 41.4%
Taxable 90% $774,000 $270,000 $504,000 - $504,000 58.6%
Total 100% $860,000 $300,000 $560,000 $300,000 $860,000 100%
9 Element taxed in the fund.
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Penelope has reached preservation age and retired but she is still under the age of 60. She is
withdrawing a large lump sum amount from her accumulation fund, however, she does not want to
pay any withdrawal tax at all. Penelope would like to know how much she can withdraw without
paying any tax. Her total superannuation benefit is provided below.
Please complete the rest of the table.
TIP: The % of each component of the withdrawal must be the same as the % of each component of
the total benefit.
Total
Benefit
% Withdrawal %
Tax-free component $156,000 20% $ 50,000 20%
Taxable component10 $624,000 80% $200,000
(low rate cap)
80%
Total $780,000 100% $250,000 100%
Explanation: The $200,000 is a known value (it is the low rate cap which is not taxed). To determine the unknowns; you
need to determine what 1% equals ($200,000/80). Then, if 1% = $2,500, you can calculate 100% and 20%.
10 Element taxed in the fund.
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WITHDRAWAL TAX
You have been provided with the following benefit which is split between tax-free and taxable
YOUR BENEFIT
TAX-FREE COMPONENT 30% $225,000
TAXABLE COMPONENT (TAXED ELEMENT) 70% $525,000
TOTAL BENEFIT 100% $750,000
Complete the missing sections in the following tables:-
Assumptions: Marginal Tax rate =37% + Medicare levy
YOUR BENEFIT LUMP SUM WITHDRAWAL TAX
AGE 59
LUMP SUM WITHDRAWAL TAX
AGE 63
$225,000tax-free NIL NIL
$525,000taxable (525,000-200,000)*17%=55,250 NIL
$750,000 $750,000
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YOUR BENEFIT PARTIAL LUMP SUM
WITHDRAWAL
TAXAGE 58 TAX
AGE 60
$225,000tax-free $90,000 NIL NIL
$525,000taxable $210,000 (210,000-200,000)*17% = $1,700 NIL
$750,000 $300,000 $1,700 NIL
YOUR BENEFIT TTR
PENSION
WITHDRAWAL
PENSION WITHDRAWAL TAX
AGE 59
PENSION
WITHDRAWAL TAX
AGE 68
$225,000tax-free $ 15,000 NIL NIL
$525,000taxable $35,000 $35,000*(39%MTR/Medicare Levy-15%rebate)
$35,000*24% = $8,400
NIL
$750,000 $50,000 $8,400 NIL
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YOUR BENEFIT RETIREMENT
PENSION
WITHDRAWAL
PENSION WITHDRAWAL TAX
AGE 58
PENSION
WITHDRAWAL TAX
AGE 61
$225,000tax-free $ 9,000 NIL NIL
$525,000taxable $21,000 $21,000*(39%MTR-15%rebate)
$21,000*24 = $5,040
NIL
$750,000 $30,000 $5,040 NIL

40
Now assume that the member has died and the benefit is to paid from the super fund as a lump sum.
Complete the tax treatment of the death benefit proceeds in the following table:
THE TRANSFER BALANCE ACCOUNT
Exercise:
Document: Module 3: Superannuation & Retirement Planning (Incl SMSFs)
Identifier: DFP1707
© Copyright 2017
YOUR LUMP
SUM DEATH
BENEFIT
SIS DEPENDANT &
TAX DEPENDANT
Tax treatment
SIS DEPENDANT &
NON-TAX DEPENDANT
Tax treatment
NON-SIS DEPENDANT
Tax treatment
$225,000tax-free NIL NIL N/A
Cannot receive benefit
$525,000taxable NIL $525,000 * 17% = $89,250 N/A
Cannot receive benefit
$750,000 NIL $89,250 N/A
Cannot receive benefit

41
Move the text boxes to show the items in the transfer balance account.
DEBIT ITEMS CREDIT ITEMS NOT RECORDED IN TRANSFER
BALANCE ACCOUNT
You have been provided with the following client information:
Max is 67 years old and is permanently retired.
Document: Module 3: Superannuation & Retirement Planning (Incl SMSFs)
Identifier: DFP1707
© Copyright 2017
price of new income
stream from 1/07/17
transfers back to
accumulation
Transition to Retirement
income stream
lump sum withdrawal
from pension account
earnings on retirement
pension account
pension withdrawalstransfer to a new
pension
reversionary pensions
after 12 mths
existing pension
balances @ 30/06/17

42
Max had an existing account-based pension valued at $800,000 @ 30 June 2017 and this
pension is still in operation.
Max took a 'lump sum' withdrawal of $200,000 from his original pension, on 30 July
2017.
Max has received earnings of $50,000 on his original pension which was credited at the
end of July 2017.
Max has received pension payments totalling $40,000 since 1 July 2017.
Max started an additional account-based pension of $500,000 on 7th October 2017.
Document: Module 3: Superannuation & Retirement Planning (Incl SMSFs)
Identifier: DFP1707
© Copyright 2017

43
Complete the following table to show what Max's transfer balance account could look like.
Transfer balance account: Max
Date Debit Credit Balance
01-July-17
$800,000 $800,000
30-July-2017
$200,000 $600,000
7-October-2017
$500,000 $1.1 million
SELF-MANAGED SUPERANNUATION FUNDS
Exercise:
Select whether each of the following assets can be acquired from a related party of an SMSF
Asset Can this asset be 'acquired' from a
related party of an SMSF?
Telstra shares
A factory leased by a related party
1000 units in Platinum International (managed fund)
Document: Module 3: Superannuation & Retirement Planning (Incl SMSFs)
Identifier: DFP1707
© Copyright 2017
YES
YES
YES

44
Related party company shares worth 3% of the total value
of the SMSF
Related party company shares worth 6% of the total value
of the SMSF
Exercise:
Which of the following structures is corporate and which are individual?
Trustee structure Corporate/
Individual
Individual
Corporate
Document: Module 3: Superannuation & Retirement Planning (Incl SMSFs)
Identifier: DFP1707
© Copyright 2017
YES
NO

45
Individual
Corporate
This is an extract from the form that is used when remitting a contribution to a superannuation
fund, which is sourced from a small business resulting in a small business CGT exemption.
What is the maximum amount that could be seen in each box?
Document: Module 3: Superannuation & Retirement Planning (Incl SMSFs)
Identifier: DFP1707
© Copyright 2017
$500,000 or If $0
$945,000 $1,445,000