The following case study illustrates how we engaged with a subject matter expert to develop engaging eLearning about Superannuation Tax Reforms.
Industry
- Education
- Finance
- Law
History
- Legislation changes can have a significant impact on business and affect interactions with customers
- Sometimes the changes will appear to benefit customers, but can often result in higher or more complicated forms of tax
- Understanding the reforms can be a time consuming and overwhelming task
People
- Diploma level financial planners
- Financial service professionals
- CPA or CA
- City-based or regional
- In personal wealth management
Business Goal/s
- Drive accounting/financial advising business through improved customer interactions
- Ensure compliance with legislative changes to superannuation
- Offer a complete service to customers
Learner Persona
Financial Planner:
- 40 years old
- Diploma level qualification
- Has a clear sales focus, and interested in increasing and retaining their customer base
- Is risk averse, but also forward looking
"I need to understand the changes so that my customers don't have to."
Learner Actions
- Completing interactive business scenarios that simulate supporting customers to understand the reforms
- Answering scored questions about the reforms
- Reflecting on what the changes mean for their own role
Solution
Program Structure:
- eLearning Series - Two 25 minute experiences
Required Knowledge:
- The new transfer balance cap
- Changes to non-concessional and concessional contributions
- How tax benefits are increased for the less wealthy and decreased for the more wealthy
- When a super fund starts to pay a pension
- Identifying how much is in a fund and if it exceeds the $1.6 M cap
- Reasons for legislation change, business impact
- Understand which parts of super funds and SMSF have changed
Features:
- Assessed and reflection questions
- Digital business scenarios
- Videos offering expert guidance on the changes
- Offered through Open Learning
Outcomes
Accreditation
- Fulfills Continuing Professional Development requirements
- Used in MBA program at UNSW
Capabilities
Upon completion of the program, learners are able to:
- Ensure the most tax efficient outcomes for their customers
- Comply with legislative changes to the Income Tax Assessment Act of 1997 that commenced 1 July 2017 – Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016
- Open conversations with clients to discuss changes
- Potentially bring in other business
If you would like to read the whole case study please download it here.
