Accountants operating a small practice who are assessing their licensing options that will enable them to continue servicing their existing SMSF clients should be aware they are more prone to be significantly affected by regulator examination, according to a specialist lawyer.

In its tax white paper submission, the SMSF Owners’ Alliance (SMSFOA) has thrown its support behind the adoption of a taxed-exempt-exempt (TEE) taxation system for superannuation, recommended by Ken Henry in his “Australia’s Future Tax System” report in 2010.

Licensing for Accountants has launched a suite of interactive tools to assist practitioners wanting to operate under an Australian financial services licence with their educational requirements.

SMSF advisers and trustees must be guided by the most recent fund trust deed available when determining the validity of a binding death benefit nomination (BDBN) after a deed amendment, according to a specialist lawyer.

CPA Australia has admitted the ability to provide its members with a licensing solution when the accountants’ exemption is scrapped was a driver in the move to establish CPA Australia Advice.

CPA Australia has established a new subsidiary organisation that will provide financial advice to the general Australian public.

The Australian Securities and Investments Commission (ASIC) has been successful in most of its Federal Court submissions seeking banning orders against the individuals involved in the ActiveSuper and Royale Capital financial services businesses.

Commercial property can play an important role within SMSF portfolios for the increasing number of trustees moving from the accumulation phase into the retirement phase of their lives, an SMSF technical expert has said.