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.

A number of industry submissions to the Inquiry into Economic Security for Women in Retirement have called for changes to the contributions caps to allow women with interrupted workforce participation to amass sufficient savings to fund their retirement.

The Australian Securities and Investments Commission (ASIC) has brought criminal charges against Grant Ross, including one count of carrying on an unlicensed financial services business and three counts of engaging in unlicensed credit activity.

The Australian Securities and Investments Commission (ASIC) has issued a permanent ban on Perth-based former financial planner Marion Pearson for improper conduct in relation to advice provided to SMSF clients.

The Federal Court has imposed a $25,000 penalty against online SMSF administration and accounting service provider Superannuation Warehouse Australia (SWA) for false and misleading advertising.

Specialist provider of Australian financial services licences for accountants Rise Standards has experienced a large increase in interest in its offering as the deadline for the scrapping of the accountants’ exemption draws near.

Wealth management software provider Bravura Solutions has improved its portfolio administration system, Garradin, for SMSFs, making tax lodgements easier.