Changes to the way superannuation is taxed in Australia need not be perceived negatively despite the fact large tax incentives to certain individuals may be removed, according to the partner of an accounting firm.

Wealth manager Perpetual has made a plea for accountants to make a decision and take action immediately on the licensing option under which they would prefer to operate in 2016.

Providing advice and services for SMSF clients remains an outstanding opportunity for accountants as the accounting-only business model for these practitioners is rapidly becoming obsolete, according to the head of a specialist software organisation.

Trustee lobby group SMSF Owners’ Alliance (SMSFOA) has hit out at the Grattan Institute’s recommendation that yearly concessional superannuation contributions caps be set at $11,000.

Accountants looking to provide financial advice need to be mindful of the litigation risk associated with those services, according to an insurance specialist.

An SMSF education specialist has recommended advisers and trustees alike should hold conversations with the ATO to negotiate workable compliance outcomes, no matter how unlikely the suggested solution may seem.

SMSF advisers must be mindful of purpose-built trust deeds as they might restrict the activities of a fund, which could result in an inadvertent compliance breach and possible legal action against the practitioner, according to a leading sector educator.

The latest study into the future of the Australian superannuation landscape has predicted SMSFs will continue to be the dominant retirement savings vehicle for individuals in their retirement years.

The ATO has confirmed it considers the practice of offering low-cost SMSF audits as a high risk factor and as such will be continuing to scrutinise individuals offering this type of service.