The SMSF Association has welcomed the ATO’s decision to extend the time period for SMSF trustees to comply with the new safe harbour guidelines governing non-bank limited recourse borrowing arrangements (LRBA).

The federal government needed to provide much more information on the practical implications of the $1.6 million transfer balance cap applying to the pension phase of superannuation announced in this year’s budget, according to an accounting firm partner.

The ability to determine the level of non-concessional superannuation contributions an individual has made since 1 July 2007 under the new rules contained in this year’s federal budget has already proven to be problematic.

BT Financial Group is set to enhance the functionality of its Panorama wealth operating system in the areas of portfolio construction and share trading in the second half of this year.

Australia’s first managed fund that invests solely in peer-to-peer lending has been launched, offering access to high yields and low volatility the asset class can provide for sophisticated SMSF investors and high net worth investors.

The changes to superannuation announced in the 2016 federal budget, namely the $1.6 million transfer balance cap and the $500,000 non-concessional contributions lifetime cap, will have an impact on more than 4 per cent of the population and will effectively take away the retirement savings aspirations of many Australians.

Ascentiv Group has provided the Australian Securities and Investments Commission (ASIC) with an enforceable undertaking (EU) in light of the corporate regulator’s concerns over the appropriateness of advice provided to clients about the establishment and use of SMSFs.

The flexibility and control associated with SMSFs mean they continue to be the most effective superannuation vehicle even in light of the changes to the industry handed down in the 2016 federal budget, according to the SMSF Association.