The Australian Taxation Office (ATO) has expanded its support services for auditors in line with its growing reliance on the professional group to be the gatekeepers for the SMSF sector.

Accountants looking to add financial advice to their SMSF service offering are favouring the subject of risk cover over general wealth management, according to a licensee development manager.

The tax determination (TD) regarding the use of shared bank accounts for SMSFs supporting pension and non-pension members is a positive development, but not without complexities that require careful treatment, according to a specialist service provider for the sector.

ECP Asset Management (ECPAM) has issued its prospectus for a new listed investment company (LIC) offering access to the Australian small and mid-cap equity sectors, with SMSF trustees as its target audience.

SMSF experts have again expressed their concerns over the lack of regulation surrounding advice given on limited recourse borrowing arrangements (LRBA) by practitioners, such as real estate agents and mortgage brokers.

The Australian Taxation Office (ATO) is encouraging SMSF trustees to make their funds SuperStream complaint as soon as possible even though the start date for the new contributions regime has been pushed back to 3 November.

A new report into the adequacy of Australians’ retirement saving has called for a greater examination of the existing contributions caps to formulate a more common sense solution.