Faculty of Business
C o u r s e
S e s s i o n
O u t l i n e
1 ,
2 0 0 7
Course Title: Superannuation and Retirement Planning
Course Code: FIN710
Field of Education: 081199
Required course in program: MBA – no
MFinPlan – yes
Contact hours per week: Recommended study time 10 – 12 hours
Admission requirements: No pre-requisites for courses
Mode: External/Online
Units: 12 credit points
Enrolment restrictions: Students enrolled in MBA or MFinPlan programs
(and all subsidiary programs)
Course Coordinator:
Room:
Phone:
Email:
Dr John Teale
K2.43
+61 7 5459 4705
jteale@usc.edu.au
Course Moderator:
Gennie Wilson
Room: K1.06
Phone: +61 7 5430 2892
Email: gwilson1@usc.edu.au
6
i
Contents
Welcome and key contacts ...................................................................... 1
Blackboard access .................................................................................................... 2
Contact details ......................................................................................................... 2
Other contact issues ................................................................................................ 2
Course information .................................................................................. 3
Course description ................................................................................................... 3
Overview.................................................................................................................. 3
Graduate attributes, learning objectives and assessment tasks............................... 4
Learning/Assessment details ................................................................................... 6
Conditions for passing the course ............................................................................ 6
Course schedule ....................................................................................................... 7
Prescribed texts ....................................................................................................... 8
Recommended readings .......................................................................................... 8
Major reference works ............................................................................................. 8
WWW sites............................................................................................................... 8
Assessment and other details .................................................................. 9
Learning/Assessment Task 1 ................................................................................... 9
Assessment marking criteria....................................................................................... 10
Appendix to Assessment Task 1 .................................................................................. 11
Learning/Assessment Task 2 ................................................................................. 12
Assessment marking criteria....................................................................................... 14
Learning/Assessment Task 3 ................................................................................. 15
Assessment marking criteria....................................................................................... 15
Assessment submission instructions ...................................................................... 16
Assessment conditions ...........................................................................18
Non-discriminatory language ................................................................................. 18
Assignment submission and collection ................................................................... 18
Plagiarism and copied papers ..................................................................................... 19
Variations to assessment ....................................................................................... 19
Session 1, 2007 – Planner ......................................................................21
First Published: Session 1, 1998. This edition: Session 1, 2007. Author: David Park, revised by Dr John
Teale.
Published by the Graduate Studies Program, Faculty of Business, University of the Sunshine Coast,
Maroochydore DC, Qld, 4558
Copyright, University of the Sunshine Coast
Copyright protects this publication. Except for purposes permitted by the Copyright Act 1968 (Cwlth)
reproduction by any process is prohibited without the prior written permission of University of the
Sunshine Coast. Initial inquiries are to be made to the Manager Graduate Studies, Faculty of Business.
Copyrighted materials reproduced herein are used either under the provisions of the Copyright Act as
amended, under agreement with Copyright Agency Limited, or as a result of permission from the
copyright owner.
We acknowledge, with thanks, those people who contributed of their time and knowledge to the
development of this course.
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Welcome and key contacts
Welcome to Superannuation and Retirement Planning
from John Teale. I am the Coordinator of the
Financial Planning Programs at USC.
I have worked in the financial services industry for
over 39 years holding positions in sales, sales
management and at senior executive level. As a
senior executive I undertook reinsurance
assignments in both the United Kingdom and in
Holland.
I set up my own financial services company in 1985
specialising in general insurance broking, life risk
insurance and financial planning. Since the sale of
this business I lecture and research in the areas of
insurance and financial planning.
Dr John Teale
Course Coordinator
Room: K2.43
I am a member of the Financial Planning Association
and the Australian and New Zealand Institute of
Insurance and Finance and am a Certified Insurance
Professional. I was also chairman of the FPA’s Quality
Education Accreditation Committee.
Tel: + 61 7 5459 4705
Email: jteale@usc.edu.au
A warm welcome to all FIN710 students from Gennie
Wilson.
I have worked in the field of financial planning for
more than 11 years in various roles including
financial adviser, risk specialist, senior paraplanner
and compliance manager.
After completing my Masters in Financial Planning
and being granted my CFP designation, I started
lecturing at the University of the Sunshine Coast in
both undergraduate and postgraduate financial
planning programs.
Gennie Wilson
Course Moderator
Room: K1.06
Telephone: +61 7 5430 2892
Email: gwilson1@usc.edu.au
1
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Blackboard access
The coursework in Blackboard can be accessed at: http://my.usc.edu.au/online – this
link will take you to the Web Systems Login page.
When you arrive at the Web Systems Login page, information on using Blackboard
(without actually going to Blackboard) can be found by clicking on the link Getting
Online with Blackboard and then the link Using Blackboard.
Contact details
Issue type
Contact details
IT Service Desk: If you have questions about your
password or browser configuration or other login issues
please contact the IT service desk.
ITServiceDesk@usc.edu.au
MBA Help Desk: If you have any questions about
Blackboard or the technical aspects of your studies please
contact the MBA Help Desk.
mbahelpdesk@usc.edu.au
Library & bibliographic help: Library Information Desk.
Infodesk@usc.edu.au
Tel: +61 7 5430 1237
Tel: +61 7 5430 1131
Fax: +61 7 5430 2855
Tel: + 61 7 5430 2803
Learning support: Current educational best practice is
based on self-directed learning on the student's part. If you
have trouble with fulfilling this requirement then please
contact Margot Reeh, who is the University’s Learning
Support Officer.
Mreeh@usc.edu.au
SOLAR (Student Online Access and Registration).
Solarhelpdesk@usc.edu.au
General issues: Coordinator, Graduate Studies.
Tel: +61 7 5459 4742
Fax: +61 7 5430 1231
Other contact issues
You are encouraged to form study groups with your classmates, or
if you prefer to find a "study buddy" please do so. You can do this
by introducing yourself via Blackboard. Go to 'Communications' in
the course menu on the left-hand side of the screen. Click on
'Discussion Boards' and you will find a discussion forum called
'ICafe' set up. Tell your classmates something about yourself and
where you live and ask if there is anyone else living close to you
who would like to form a study group.
2
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Course information
Course description
This course examines the regulation, administration and taxation of superannuation
funds as well as maximising the benefits of members through effective contribution
and retirement strategies. Additionally, this course examines the issues involved in
the splitting of superannuation upon divorce. In order to advise in this very
technical area, it is necessary to be technically competent. As advisers are
endeavouring to achieve the best possible outcome for their client, it is necessary
to maintain a strong and clear focus at all times. As superannuation has changed on
many occasions since 1983 it is necessary to consider this changing environment in
the context of a retirement income policy that aims for self-funded retirement.
Overview
This course requires:

technical competence

a strong client focus.
This course addresses the following broad areas:

the superannuation regulatory environment

superannuation as a system of saving for retirement

contribution and termination strategies

preservation and investment restrictions

taxation aspects of superannuation

administration of small and large superannuation funds

superannuation and marriage breakdown.
3
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Graduate attributes, learning objectives and
assessment tasks
The Faculty of Business strives to enable its Masters coursework graduates to
acquire the following attributes:
MBA/MFP
Graduate Attributes
Learning Objectives
To understand
1. Understand the legal and ethical
responsibilities of the adviser in
relation to superannuation and
retirement planning.


demonstrate relevant and
current discipline-based
knowledge in a business
context
utilise multidisciplinary
perspectives in the
analysis of business
problems and issues
To think

analyse and evaluate
business practices using
relevant theories and
frameworks

develop and justify
arguments using relevant
information from academic
and industry-based
sources

take a strategic view of
organisations and their
position in the economy
To learn

utilise self-directed
learning skills

effectively collect and
organise information
relevant to a range of
business topics
Assessment Tasks
On completion of this course
students should be able to:
Assessment Task 1 and
Final Assessment Task.
2. Describe trustee duties in relation
to all types of superannuation
funds.
3. Devise effective strategies that
are designed to assist clients
meet their goals and aspirations.
Assessment Tasks 1 and
2 and Final Assessment
Task
4. Analyse the effect of current
reforms on superannuation and
retirement planning.
5. Advise clients on appropriate
structuring of their investment
superannuation decisions, in
order to maximise
superannuation benefits.
Assessment Tasks 1 and
2 and Final Assessment
Task
4
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
MBA/MFP
Graduate Attributes
Learning Objectives
To interact
6. Review the financial planning
process and identify key
retirement issues to be
considered by the advisers and
the client.
Assessment Task 1 and
Final Assessment Task
7. Communicate effective strategies
to clients that maximise
outcomes for the clients.
Assessment Tasks 1 and
2 and Final Assessment
Task
8. Understand the different types of
superannuation funds and
superannuation-like entities and
identify planning opportunities
using these structures.
Assessment Task 2

communicate in a
meaningful way either in a
group or as an individual

build effective individual
and group relationships

work effectively in a
multicultural or global
environment

develop understanding of
and skills relevant to
effective leadership
To communicate

communicate effectively in
a variety of media

use information and
communication
technologies effectively
To initiate

apply and extend existing
knowledge and
frameworks

identify opportunities and
create new solutions

demonstrate creativity,
innovativeness and
entrepreneurial skills
To value

demonstrate self
awareness relating to
capabilities, duties,
potential for growth

apply ethical professional
and personal practices

demonstrate awareness of
processes and policies
relating to good corporate
governance and corporate
social responsibility
Assessment Tasks
On completion of this course
students should be able to:
9. Comment on the need to reform
and simplify superannuation rules
in relation to contributions,
taxation, and administration of
superannuation funds and
retirement benefits.
10. Be aware of the need to keep up
to date in order to meet client
needs.
Assessment Tasks 1 and
2 and Final Assessment
Task
11. Understand the financial planner's
role in this area and the
relationship with other
professionals such as accountants
and the legal profession.
5
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Learning/Assessment details
Learning/Assessment Tasks
Due Date
Length
Weight
%
1. Assessment Task 1 – This
assessment task considers
various superannuation and
retirement planning issues.
Week 8, Monday
23 April, 2007
Please refer to
the task.
20
2. Assessment Task 2 – This
assessment task considers
various SMSF issues.
Week 13,
Monday 28 May,
2007
Please refer to
the task.
40
3. Final Assessment Task –
assessment covering all modules.
Week 14
N/A
40
TOTAL
100
As part of the Blackboard submission process, you are required to
make an Assessment Task Declaration and you will not be able to
submit any piece of assessment without first making an Assessment
Task Declaration.
The course coordinator may decide to check for plagiarism on a
particular piece of assessment. This will be an automatic process
involved in the Assessment Task submission to Blackboard.
Conditions for passing the course
To achieve a pass in this course, students must:

achieve at least a pass level in the final assessment task

achieve at least a pass level overall

complete all items of assessment

perform satisfactorily in all items of assessment.
6
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Course schedule
The details of the week-by-week timetable of course activities, e.g. lectures,
tutorials
Teaching Week
Content Focus of Week
Learning/Teaching
Commencing
Activities
1.
26 February 07
2.
5 March 07
3.
12 March 07
4.
19 March 07
5
26 March 07
6
2 April 07
9 – 15 April 07
Module 1: Superannuation
legislation and regulations
Refer to the learning resources at
the commencement of each
module.
Module 2: Contributions to
superannuation funds and the
superannuation guarantee
Module 3: Termination payments
– Lump sums
Mid-session break
7
16 April 07
Module 4: Termination payments
– Income streams
8
23 April 07
Module 5: Self-Managed
Superannuation Funds (SMSF)
and Small APRA Funds (SAF)
Assessment Task 1 due
Monday 23 April 2007
9
30 April 07
Module 5: Self-Managed
Superannuation Funds (SMSF) –
Transfer of assets and
Investment strategies and
guidelines
Refer to the learning resources at
the commencement of each
module.
10
7 May 07
Module 5: Self-Managed
Superannuation Funds (SMSF) –
Investments and Investment
strategy
11
14 May 07
Module 5: Self-Managed
Superannuation Funds (SMSF) –
Retirement & Estate planning
12
21 May 07
Module 6: Taxation of
superannuation funds and
planning considerations
Module 7: Retirement savings
accounts (RSA)
13
28 May 07
Module 8: Superannuation and
marriage breakup
14.
4 June 07
Final Assessment Task week
Assessment Task 2 due
Monday 28 May 2007
Session 1 2007 ends 10 June. Session 2 2007 commences 25 June 2007.
7
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Prescribed texts
All students are required to purchase the following books during their enrolment in
the program to assist them in their study:
Leow & Murphy, Australian Master Superannuation Guide 2006/2007, 10th edn,
CCH Australia, ISBN 1921022531.
Summers, J & Smith, B 2004, Communication Skills Handbook, 2nd edn, John Wiley
& Sons, Brisbane, (an earlier edition is acceptable if you have already purchased
this text).
Recommended readings
(you are not required to purchase these books)
Kingdon, D 2001, Super strategies for wealth creation, CCH Australia, Sydney. This
text is an excellent resource for anyone who is interested in superannuation
planning and strategy. It is not a prescribed text but it is certainly worth buying.
Abbott, G 2006, Guide to self-managed super funds, 3rd edn, CCH Australia,
Sydney. This is a very useful resource for module 5 on SMSF.
Major reference works
Mendel, J. (ed.) 2006, Australian master tax guide 2006/07, 38th end, CCH
Australia Limited, Sydney
Scriven, D. (ed.) 2006, Australian master financial planning guide 20065/2007, 9th
edn, CCH Australia Limited, Sydney.
The Australian master tax guide and the Australian master financial planning guide
are produced each year by CCH. They are very useful reference books. Although
the latest edition of these publications is best, access to any recent edition of these
texts is very helpful. These texts are also used in other courses such as FIN712,
Taxation planning and estate planning.
Beal D. & McKeown W. 2006, Personal finance, 3rd end, John Wiley & Sons Ltd,
Brisbane.
An introductory Australian text with chapters on financial planning, investment,
taxation, superannuation, social security and estate planning (This text will not
contain Simpler Superannuation changes).
WWW sites
In the course work modules you will be directed to a number of websites. These are
very important resources for seeking current information on superannuation. In
some of the modules, the more important readings are found on these websites.
8
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Assessment and other details
Learning/Assessment Task 1
Report
Due date
Week 8, Monday 23 April 2007, 5.00pm AEST.
Weighting
20%
Length
Refer to task below
Preliminary
information
As a financial planner, you have recently met Judy and John for an
initial consultation.
Judy and John are husband and wife and they plan to retire on 28 June
2007. On retirement they will be aged 59. At the meeting with Judy and
John you were able to gather some estimates and information relating
to your clients’ financial affairs. These details are shown in the appendix
to this assessment task.
Task
Judy and John require answers to the following questions:
1
Assuming John takes all his superannuation benefit from a taxed
complying superannuation fund as a lump sum on 28 June 2007,
calculate John’s tax liability (including Medicare Levy) for the year
ended 30 June 2007. (5 marks)
2
If Judy decides to take some of her superannuation as a lump sum
in order to pay off her home loan on 28 June 2007, how will this
affect the tax that Judy will have to pay for the year ended 30 June
2006? (3 marks)
3
If John decides to organise an allocated pension using his
superannuation benefits and the pension is to commence on 29
June 2007, calculate the following:

the minimum and maximum amount of the pension for the
year ended 30 June 2007, and

assuming John takes the maximum pension, calculate the tax
that he would pay on the pension for the year ended 30 June
2007.
(5 marks)
4
Explain the roll over options available to Judy and John in order to
defer the taxation consequences of their retirement decision until
later financial years? (2 marks)
5
Judy and John mentioned that they read a newspaper article about
the Federal Government’s proposals to simplify superannuation.
Explain to Judy and John how these proposals may affect their tax
liability and the amount of required retirement income. (2 marks)
9
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
6
Submission
Course Outline
Judy and John have unequal amounts in their superannuation. If
they were to retire on 28 June 2007, as planned, is it possible for
John to access some of his superannuation benefits as a lump sum
and use this money as a contribution into Judy’s superannuation.
Explain this recontribution strategy to John and also explain how
Undeducted contributions will be treated under the simpler super
proposals and if John’s proposed strategy will be allowable under
these rules.
(3 marks)
Please submit this Assessment Task electronically through Blackboard.
See Assessment Submission Instructions (How to submit your
learning/assessment tasks to Blackboard) in the Course Outline and
Assessment areas of this Blackboard course.
Assessment marking criteria
Content
Possible
Mark
Marks will be awarded as indicated on the questions.
You will be rewarded for the technical content and accuracy of your
advice.
In the questions you are asked to advise Paul and Jane. Although
technical correctness and accuracy are required you will also be
rewarded if you maintain a client focus and explain your
recommendations in a manner that the clients can understand.
All technical terms require a definition and explanation. The clients do
not possess expert knowledge of superannuation.
A report style is to be used as detailed in Summers, J. & Smith, B.
2004, Communication Skills Handbook, John Wiley & Sons, Milton.
Any assumptions made must be detailed on a separate page under the
heading of assumptions and inserted into your report after the
‘Executive Summary’.
TOTAL
20
10
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Appendix to Assessment Task 1
Estimated wages for the financial year ended 30 June 2007
Judy
John
$36,800
$64,100
$1,350
Nil
Nil
$2,300
$2,500
Nil
Nil
$2,467
$975
$1,120
Nil
$120,000
Estimated interest and dividends for the financial year
ended 30 June 2007:

Unfranked dividends

Fully franked dividends

Interest
Unused long service and annual leave accrued since July
1998
Allowable taxation deductions for the year ended 30 June
2007
Estimated superannuation benefits at 28 June 2007:

Undeducted contributions

Pre-July 183 component
$10,100
$130,000

Post-June 1983 component
$85,000
$410,000
$22,000
$22,000
$45,000
$60,500
$258,000
$258,000
Liabilities:

Balance owing on mortgage (home loan)
(This loan was used entirely for the home purchase. They
have lived in this home since the date of purchase.)
Assets:

Shares in listed public companies (at market values)

Owner occupied home (jointly owned, at valuation)

Furniture
$25,000
$25,000

Boat (at market value ascertained from discussions
with a yacht broker) (jointly owned)
$54,000
$54,000

Term deposit
$45,000
Nil

Cars
$22,000
$15,000

Personal belongings
$10,000
$10,000

Jewellery (estimated value by Judy)
$16,000
Nil

Artwork (recently valued for insurance purposes by an
art gallery)
Nil
$28,000
11
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Learning/Assessment Task 2
Assignment and essay
Due date
Week 13, Monday 28 May, 2007, 5.00 pm AEST.
Weighting
40%
Length
2000 words (approx).
Preliminary
information
Assessment task 2 requires you to answer a number of questions in
relation to the Graham Family Superannuation Fund. This includes
drafting an appropriate investment strategy, considering the in-house
asset rules that relate to self-managed superannuation funds,
borrowings, who can be a trustee/member, payment of pensions pre
and post June 2007 and contributions to the fund.
Task
CASE STUDY
Consider the following case study and respond to the questions which
follow:

Jerry and Jane Graham are members of a self-managed
superannuation fund known as the Graham Family Superannuation
Fund.

Jerry Graham is aged 45 and Jane Graham is aged 39. They have
one child, a daughter named Mary who is 16 years old and
attending secondary school. Jerry and Jane recently paid off their
home mortgage and now realise that it is time to make an effort to
accumulate retirement savings in their self-managed
superannuation fund. They both have approximate superannuation
balances of $80,000 each, which is mostly post-June 1983 and with
a small undeducted component contributed since 1999.

Jerry and Jane are the only members of the superannuation fund
and both are trustees. The trustees do not know of any reason why
they would be considered ‘disqualified persons’.

Jerry and Jane are also directors and joint shareholders of two
private companies: Graham Garden Furniture Pty Ltd and Garden
Gnome Innovations Pty Ltd.

Jerry and Jane do not have any other significant investments
except for their home, superannuation balances and the
investments in the two private companies. They hope that when
they ultimately sell their businesses that this money can be used to
supplement their retirement income.
The Graham Family Superannuation Fund had the following investments
as at 30 June 2006. (The share investments are shown at cost)
12
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
1000 AMP Ltd (AMP) ordinary shares @ $5.85 per share
1000 Rio Tinto Ltd (RIO) ordinary shares @ $30.30 per share
500 Woolworths Ltd (WOW) ordinary share @ $12.50 per share
1000 C’weath Bank of Aust. (CBA) ordinary shares @ $29.83 per share
2000 Macquarie Country Wide Units (MCW) Unit Trust @ $1.50 per unit
Display area and office premises of Graham Garden Furniture Pty Ltd
valued at $200,000
Delivery truck rented to Garden Gnome Innovations Pty Ltd valued at
$20,000
Loan to Garden Gnome Innovations Pty Ltd $10,000
Cash at bank $8,000
All shares were purchased via the Australian Stock Exchange (ASX). The
price paid for the shares was the ASX market value on the day of
purchase.
The display area and office premises are rented to Graham Garden
Furniture Pty Ltd at commercial rental rates and formal lease
agreements have been prepared. The display area and office premises
were purchased from Jerry’s father for $175,000 in January 2003 at a
fair market value. The delivery truck was purchased from an unrelated
vendor at the same time. The purchases have been documented in the
minutes of the superannuation fund.
The loan to Garden Gnome Innovations Pty Ltd from the Graham Family
Superannuation Fund is at a fixed interest rate of 5 percent and a
formal loan agreement has been prepared. The loan has been
documented in the minutes of the fund.
Provide answers to the following questions:
1.
Draft an appropriate investment strategy for the superannuation
fund given the current investment portfolio. Consider the members’
ages and the family situation. All the requirements of an
investment strategy must be addressed.
2.
Identify the assets in the portfolio, which are regarded as in-house
assets and explain why they are in-house assets. Cite the
regulation concerning in-house assets and state what tests need to
be considered for such an asset to be allowed within the
superannuation rules.
3.
The shares in AMP and CBA were purchased by the fund from Jerry
and Jane. Also, the display area and office premises were
purchased from Jerry’s father some fifteen months ago. Explain
whether the fund is able to legitimately acquire such assets. You
must cite relevant legislation.
4.
Both Jerry and Jane are trustees of the self-managed
superannuation fund. Jane has been reading the Smart Money
section of the Weekend Australian Financial Review and noticed
and article about having a corporate trustee as trustee of a SMSF.
Explain what a corporate trustee is and what benefits this structure
may provide. Include any problems that this structure may avoid
post June 2007.
13
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
5.
Jerry is considering allowing an employee of Garden Gnome
Innovations Pty Ltd to join the Graham Family Superannuation
Fund. Explain if this can be done and any ramifications for the fund
if the employee is admitted. Cite the relevant sections of the
regulations concerning this possible action.
6.
Jane is coming into an inheritance in September 2007 following the
winding up of her father’s estate. She plans to put $600,000 of the
inheritance into the Graham Family Superannuation Fund as an
undeducted contribution so as to help with her tax when she
ultimately retires and commences an income stream. Can Jane
make this contribution? Explain to Jane the proposed rules that will
apply post June 2007 regarding undeducted contributions, and
pension payments.
7.
Jane would like to withdraw some money from the Graham Family
Superannuation Fund to pay for a European trip organised by her
daughter’s school. This trip will cost $15,790 excluding private
spending. Jane has noticed that the price of the Rio Tinto Ltd
shares recently rose to $72.92 per share, valuing this stock at
$72,920. Explain to Jane if she will be allowed to borrow this
money from the fund. Cite the relevant legislation relating to
borrowings and any other tests that may be relevant.
8.
Jane’s share broker has advised her of a float of shares in a new
mining company, but the self-managed superannuation fund does
not have enough cash to make the purchase. Can the selfmanaged superannuation fund borrow the extra $12,000 needed
for this share transaction? Give a full explanation to Jane of the
SIS rules relating to borrowings.
9.
If the self-managed superannuation fund’s auditor discovers
breaches of compliance in relation to the fund’s activities, what
actions must the auditor take? In your answer cite the relevant
sections of the SIS Act.
10. If the Graham Family Superannuation Fund is found to be noncompliant for any reason, explain to Jerry and Jane the test that
the ATO administers each year, the impact of the fund being noncompliant and any penalties that may apply to the trustees. Cite
the relevant sections of the SIS Act.
Submission
Please submit this Assessment Task electronically through Blackboard.
See Assessment Submission Instructions (How to submit your
learning/assessment tasks to Blackboard) in the Course Outline and
Assessment areas of this Blackboard course.
Assessment marking criteria
Content
Each answer of the questions is to be answered separately. Marks will
be awarded for technical accuracy and clarity of explanation. Write your
answers to questions 2 to 5 as if you are explaining the answers to the
trustees Jerry and Jane. Although they are experienced business people
they are not experts in superannuation.
Possible
Mark
20
In question 1 you must address all the necessary issues that are
required in a written investment strategy.
14
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Learning/Assessment Task 3
Short answer questions
Due date
Monday, 11 June 2007, 5.00 pm AEST.
Weighting
40%
Length
Refer to the assessment paper. The length of each answer will be
suggested in the question.
Preliminary
information
The final assessment will consist of Two parts. Part A will consist of 20
multiple choice questions, Part B will consist of questions that will
require calculation and/or written answers of up to 1½ pages of 1.5
spacing typing. The questions will cover the material in all modules and
readings.
Task
All questions in the assessment paper are to be completed.
Submission
Please submit this Assessment Task electronically through Blackboard.
See Assessment Submission Instructions (How to submit your
learning/assessment tasks to Blackboard) in the Course Outline and
Assessment areas of this Blackboard course.
Results in
Blackboard
Results for the final assessment for this course will not be posted in
Blackboard.
Feedback/
model
answers
General feedback / model answers for the final assessment for this
course will not be posted in Blackboard.
Assessment marking criteria
Content
Possible
Mark
Accurate and concise answers will be rewarded.
40
TOTAL
40
15
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Assessment submission instructions
Please submit assessment tasks electronically through
Blackboard.
NOTE: It is very important that you do not use the Back button
when preparing your submission.
Step 1
Prepare your assessment task file to be submitted to Blackboard, as
a single Microsoft Word (.doc) document. The Assignment Cover
Sheet is no longer required.
Make sure you name your file as detailed below. Include your name,
USC student ID number, postal address and assessment details in the
headers and footers of your assessment task document.
Step 2
Please make sure your assessment task file is named like this:
LastName_FirstName_USCStudentID_TaskX_COURSEID.doc
ie. if your name is Bill Gates and you are doing Task 3 for Managing
Organisations, you would name your file:
Gates_Bill_1011223_Task3_MGT701.doc
Note: There must not be any spaces between words in the file name.
Use an underscore (Shift Hyphen) between words. If you name your
files in this manner you should not encounter any problems uploading
them to Blackboard.
Step 3
Ensure the document page size of your completed assessment
task is A4.
To change the page size to A4:

click on File > Page Setup

click on the Paper Size tab

scroll through the paper sizes and choose A4 (210 x 297mm).
Change the page size to A4 when you are first creating your
assessment task document. Changing the page size after you have
finished your assessment task will affect the page text areas which
could cause unwanted page breaks which you will need to adjust.
Step 4
Open the Assessment area in Blackboard by clicking Assessment in the
left hand navigation menu of the Blackboard course.
Step 5
Click on Assessment overview link in the right hand side content panel.
Step 6
Click on Learning/Assessment Task X.
Step 7
Scroll down and review the Assessment Task Declaration.
You need to accept this declaration before you can proceed to the
Assessment Task submission area that will appear directly below the
declaration panel.
Step 8
Click on the >>View/Complete link at the bottom of the Submit
Assessment Task X area to open the Upload Assignment: Submit
Learning/Assessment Task X area.
Step 9
Add a comment to your Course Coordinator while you are in the
Upload Assignment: Submit Learning/Assessment Task X area.
Step 10
Browse your computer to find and attach your single document – the
assessment task only.
Step 11
Only when you have attached the document you wish to upload, click
Submit.
Step 12
You should receive the message: “The assignment has been
successfully updated”.
Step 13
Click OK.
16
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Checking your
submission
Course Outline
You can check that you have submitted the assessment task by doing
one of two things:

click >> View/Complete and see if the message “You’ve already
completed this assignment, click on review your results” comes up.
OR

Unsuccessful
submission
click on the Tools page in the Course menu and open View Grades
to see if the assessment task has been logged in (and marked yet).
If your submisison has been unsuccessful, please contact
mbahelpdesk@usc.edu.au
The MBA Helpdesk will clear your submission attempt and will send you
an email requesting you to resubmit your assessment task through
Blackboard.
Task feedback
Final
assessment
grades
To view your grade and feedback from the Course Coordinator, go to
Tools > View Grades.
It is at the discretion of the Course Coordinator to display the grades for
the final assessment task.
17
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Assessment conditions
Non-discriminatory language
Students are expected to use non-discriminatory language in all social and
academic contexts of our socially diverse university located in the multi-cultural
community of the Sunshine Coast of Queensland, Australia. Additionally our online
courses reach students throughout the world living in diverse cultural
circumstances. Please ensure that all assessments use non-discriminatory language
such that oral, written and visual presentations do not devalue, demean or exclude
individuals or groups on the basis of the following attributes: gender, disability,
culture, race, religion, sexual preference or age.
Assignment submission and collection
All assessment tasks are due by the time and date indicated in the
Assessment Schedule previously listed in this course outline. Students submitting
assessment tasks after the due date without extenuating circumstances may incur
a penalty up to a maximum of 20% of the assigned mark for each working day late.
Applying this penalty is solely at the discretion of the Course Coordinator or coteacher.
Students are to prepare their assessment task file to be submitted to Blackboard,
as a single document. The Assignment Cover Sheet is no longer required. Students
must make sure they name their file as per the Submission instructions detailed
before. Students also need to include their name, USC student ID number, postal
address and assessment details in the headers and footers of their assessment task
document.
As part of the Blackboard submission process, you are required to make an
Assessment Task Declaration and you will not be able to submit any piece of
assessment without first making an Assessment Task Declaration.
For students using Blackboard, assessment tasks are to be submitted to the course
coordinator or co-teacher via the Blackboard learning management system on or
before the due date specified in the Assessment Schedule by:
1. Using the view/complete link found with each assessment piece within
Blackboard.
OR
2. As directed by your course coordinator or co-teacher.
Do not attempt to submit your assessment task in any other manner, as it will not
be accepted.
Students must retain a copy of all pieces of assessment, which must be
produced if requested by the course coordinator.
Assessments tasks will normally be returned no later than three (3) weeks after the
due date. Normally they will be returned through the Blackboard learning
management system. However, if the course coordinator has made other
arrangements the assessment tasks may be posted to you. Please therefore
18
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
ensure that your current postal address is in the Assessment Task
document.
For quality assurance purposes the faculty may make copies of selected assessment
tasks.
Plagiarism and copied papers
Plagiarism and copied papers are serious offences against professional standards.
Papers rejected on these grounds may receive a zero mark without any opportunity
to resubmit them. Students who copy each other’s papers are engaged in a form of
cheating and the original, as well as all copies, of the paper may be awarded a
mark of zero.
The following definition of plagiarism is taken from the Student Conduct and
Discipline Statute:
… a person plagiarises the work of another if that person presents the
thoughts or words of the other as being his or her own, and the word for
word reproduction of a written passage of more than insignificant
length, or the paraphrasing of such a passage, is evidence of plagiarism
unless the source of the material is acknowledged in the work.
Please carefully read the Student Conduct and Discipline Statute section within the
Student Policies and Rules of the Student Handbook, a copy of which can be accessed
on the university website at:
http://www.usc.edu.au/University/AbouttheUniversity/Governance/Policies/StudentRelated/Cond
uct.htm
The course coordinator may decide to check for plagiarism on a particular piece of
assessment. This will be an automatic process involved in the Assessment Task
submission to Blackboard.
Variations to assessment
All initial inquiries regarding extension of due date for assessment tasks or special
consideration should be made to the Course Coordinator.
If the student’s request for extension and/or special consideration is due to
confidential circumstances, students may wish to contact Student Services who
may make a recommendation to the Faculty.
Extensions
The Faculty may agree to an extension for assessment tasks where a student
experiences illness or other significant personal matters that prevent them meeting
the due date.
A request for an extension must be made to the Course Coordinator via email
before the due date of the assessment task. Requests received on the day that the
assessment task is due are only considered in exceptional circumstances.
If your request for extension is due to illness then you should provide a medical
certificate from your doctor. In the case of severe personal circumstances such as
the death of a close relative, students may need to provide supporting
documentation.
Where an extension is granted, the student is expected to submit the assessment
task item by the revised due date. A marking penalty may be applied to
assessment tasks submitted after the extension date.
19
Graduate Studies Program
Faculty of Business
Superannuation and Retirement Planning FIN710
Course Outline
Special consideration
A student who considers that their academic performance has been adversely
affected by illness, disability or significant personal circumstances may apply to the
Course Coordinator for special consideration. A medical certificate or documentary
evidence of personal circumstances should accompany the application.
If special consideration is granted, the Faculty will take into account the information
contained in the application when determining the student’s final grade.
Special Consideration will only apply where a student is on the pass/fail borderline.
Special Consideration will not apply for movement between pass/credit,
credit/distinction or distinction/high distinction.
Supplementary final assessment tasks
A Supplementary Final Assessment Task can be initiated only at the discretion of
the Course Coordinator where a student has marginally failed to meet the
requirements of the program course and has shown, through results obtained in
other pieces of assessment, a sufficient level of performance and/or competence to
warrant setting additional assessment. The subsequent grade of result awarded
after completion of a Supplementary Final Assessment Task cannot exceed that of
“Pass.”
Grade levels
Grades shall be awarded on the following basis:
HIGH DISTINCTION
Where a student achieves an exceptionally high level
of performance and / or competence plus the
production of original work and demonstrated
awareness of all significant elements of the course.
DISTINCTION
Where a student achieves a high level of performance
and / or competence plus the production of original
work and demonstrated awareness of all significant
elements of the course.
CREDIT
Where a student achieves a level of performance and
/ or competence substantially above the minimum
requirements of the course.
PASS
Where a student achieves a level of performance and
/ or competence which satisfies the minimum
requirements of the course.
PASS UNGRADED
Where a student has satisfied the minimum
requirements of the course but it is not appropriate
to differentiate between levels of satisfactory
performance and / or competence.
FAIL
Where a student has not satisfied the minimum
requirements of the course.
20
Graduate Studies Program
Graduate Business Studies
Session 1, 2007 – Planner
http://www.usc.edu.au/Students/OnlineLearning/
Monday
Week
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday
'O' week
19
20
FEBRUARY
21
22
23
24
25
26
27
28
1
MARCH
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
31
1
2
3
4
5
30
CENSUS
DATE
6
7
8
9
10
Mid-session break
11
12
13
14
15
APRIL
16
17
18
19
20
21
22
23
24
25
26
27
28
29
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
2
3
7
8
9
10
30
MAY
4
5
Final Assessment Week
6
JUNE
Serious Business at USC