Overview
The Self-Managed Super Fund Association (SMSFA) National Conference 2025 has just concluded in Melbourne, and what a successful Conference it was. I am especially proud of this year’s Conference, in part because I was made a Fellow of the Association, but in the main due to the magnificent efforts of the Association, particularly the Chief Executive Officer, Peter Burgess, in lobbying Senators and making them aware of the abhorrent and inequitable Division 296 Tax. It is the tireless advocacy of the Association that has led to this legislative abomination being defeated in the Upper House.
But I digress. Now on to the highlights of the Conference.
Legislative changes session
Always an informative presentation, Peter Burgess went through the major announcements on the radar. Whilst the defeat of Division 296 was part of the presentation (until after the election at least), the changes to legacy pension rules was a pleasant and positive announcement by the government. This legislative instrument allows non-commutable income streams, such as Market-Linked Income Streams, Complying Lifetime Pensions and Defined Benefit Pensions to be rolled back to accumulation mode and the capital used to commence an Account Based Penson, remain in accumulation mode, or be cashed out of the superannuation system.
More important than the commutability of the income streams is the ability to have pension reserves allocated to the member’s account without the allotment counting against the contribution caps. Even allocation from general reserves to members will now count against the non-concessional contributions cap, including the bring-forward provisions. This is more generous than the previous rules, where allocation from reserves counted against the member’s concessional cap.
Super Mastermind
This was an enjoyable and innovative way to test one’s knowledge superannuation. Conducted as a quiz, Craig Day went through a range of topics; from Conditions of Release to related party rules. This session highlighted just how complex and convoluted our world best retirement incomes system is. Congratulations to Anthony Cullen for getting all eleven questions correct.
Digital Transformation
The highlight of the Conference for mine. Adam Spencer presented an engrossing session on Artificial Intelligence AI). As a Luddite, I found this presentation equal parts fascinating and reassuring. The long-held fear that AI will replace humans was dispelled. I came away with the firm belief that AI is a tool to enhance one’s productivity and the quality of output. ChatGPT might assist me in mastering PowerPoint after all these years.
Small Business GCT Concessions
With my newfound AI skills, I ask the following question of an AI tool “Which country has the most complex capital gains tax rules in the world?”
The answer?
Australia.
Lee-Ann Hayes did a masterful job going through the basic conditions and eligibility requirements to access the concessions. Lee-Ann was equally heroic in explaining the extra eligibility conditions for the small business CGT concessions if the asset is a share or interest in a trust.
CGT concession stakeholder, significant individual test, small business participation percentage, indirect small business participation percentage, the 90% test, modified connected entity test…. Sir Humphrey Appleby would be ever so proud.
Conclusion
Whilst the technical content was rich, the best part of the National Conference is the meeting of people, re-connecting with old acquaintances and making new ones, the moniker of Collaboration for 2025 was certainly an appropriate one.
Congratulations to a mightily successful 2025 colloquy. I look forward to the 2026 SMSF Association National Conference in my beautiful hometown of Adelaide.
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