Financial advisers with SMSF clients wanting to take advantage of the grandfathering rules applying to the Commonwealth Seniors Health Card (CSHC) should commence pensions for those individuals immediately, according to an industry expert.

Applying a calculation based on a fixed percentage rate for income generated from excess non-concessional contributions to be refunded along with the contributions over the limit is the optimal method to determine these earnings under the proposed new superannuation rules, despite fairness concerns, according to a leading SMSF technical services manager.

The Australian Securities and Investments Commission (ASIC) has rejected suggestions an obligatory minimum balance should be satisfied before an SMSF can be set up.

SMSF documentation and strategy specialist NowInfinity has joined forces with administration provider Class Super and accounting software firm Xero to automate certain SMSF functions, including fund establishment and setting up limited recourse borrowing arrangements.

Magellan Funds Group is in the process of securing inclusion on the new Australian Securities Exchange (ASX) mFund Settlement Service as a means of attracting fund flows from the SMSF sector.

The Australian Taxation Office (ATO) is closely monitoring trustee education seminars, particularly those being held overseas, to make sure the associated strategies and investments fall into line with the sole purpose test.

Home equity bias typically reflected in SMSF portfolios may mean these superannuants will miss better investment opportunities in both growth and value stocks not listed on the Australian Securities Exchange, according to a global funds management house.

Recent industry research performed by Investment Trends has shown compliance is now the biggest challenge financial planners face when servicing their SMSF clients.

Trevor Clisby has joined the team of independent stock research company Skaffold to lead its push into the SMSF administration market.