The Australian Taxation Office’s (ATO) new industry consultation framework is to date working effectively, according to one industry participant.

Accounting firm Chan & Naylor has extended its service offering to include an SMSF administration facility and a national mortgage broking service.

SMSFs looking to make in-specie transfers before the end of the current financial year need to act now as these transactions generally take time to process, according to a specialist lawyer servicing the sector.

The SMSF Professionals’ Association of Australia (SPAA) remains positive about the development and growth of the sector despite the latest Australian Taxation Office (ATO) statistics reflecting a slight softening in the speed of fund establishments.

While the Australian Taxation Office (ATO) is revising its treatment of zero interest related-party loans, determining an appropriate rate of interest for these types of borrowings is not going to be a simple process, according to an SMSF technical expert.

The latest sitting of the Superannuation Industry Relationship Network has resulted in industry representatives requesting, from the Australian Taxation Office (ATO), greater clarity and perhaps a legislative fix in relation to SMSFs taking out zero interest related-party loans.

SMSFs could soon start to experience the adverse effects of their continued large portfolio allocations to cash, according to Market Vectors Australia managing director Arian Neiron.

SMSF advisers will need to revisit the trust deeds of their clients to confirm funds have the ability to refund excess non-concessional contributions under the proposed new rules handed down in the federal budget last month, according to a superannuation commentator.

SMSF trustees need to be vigilant about managing their contributions in the lead-up to 1 July to ensure they get the maximum advantage from the increased non-concessional contributions caps about to be applied, according to an accounting firm’s superannuation expert.