The Australian Taxation Office (ATO) has published details of the procedures SMSF trustees can follow if they wish to challenge the severity of a remission decision regarding the new administrative penalty regime for contraventions of the Superannuation Industry (Supervision) Act.

The SMSF Professionals’ Association of Australia (SPAA) has declared its support for the federal government’s decision to create a register of financial advisers.

The Institute of Public Accountants (IPA) and the United Kingdom-based Institute of Financial Accountants (IFA) have amalgamated their operations to become the IPA Group.

SMSFs are having their tax obligations made easier as a result of the increased employment of technology, according to platform provider Hub24.

Financial advisers need to communicate the value they can add in a more effective manner in order to service a larger number of SMSF clients, according to ING Direct business and savings manager Tim Hewson.

The inclusion of hedge funds in an SMSF portfolio could be beneficial as they provided greater degrees of diversification and lessened the impact of market volatility for fund members, according to a global fund manager.

Count Financial launched an online facility today that will assist accountants who are considering obtaining an Australian financial services licence (AFSL) to provide financial advice to SMSF clients in gaining a better practical understanding of what the process involves.

Providing monetary compensation to accountants who provide client referrals is a practice financial planners should not reject as it can establish the most effective path to signing up new clients, according to the head of an advisory firm.

The ability for SMSFs to refund non-concessional contributions cap (NCCC) breaches when the yearly $180,000 limit was exceeded would be a more practical application of the rule, according to a superannuation industry technical expert.