The SMSF Professionals’ Association of Australia (SPAA) has commended the Australian Taxation Office (ATO) on its draft legislative instrument governing the amended treatment of the use of borrowing within superannuation funds.

This is the final edition of the self-mangedsuper newsletter for 2013 and we would like to wish all of our readers a very Merry Christmas and a Happy New Year.

Heffron SMSF Solutions’ most recent “SMSF Borrowing Data Report” showed that while the number of limited recourse borrowing arrangements (LRBA) in place were on the rise, they were yet to reach what could be considered a significant level.

The Internet is now the most effective lead generation tool for SMSF specialists and financial planners, but despite this, person-to-person communication skills remain critical in turning these leads into clients, according to motivational speaker Jordan Belfort.

The Small Independent Superannuation Funds Association (SISFA) has changed its name and will now be known as the Self-Managed Independent Superannuation Funds Association.

Heffron has strengthened its position as one of the few independent SMSF service providers in the industry through a restructuring of its operations, including a number of new hires.

Accountants looking to take out a limited Australian financial services licence (AFSL) to allow them to continue to service the SMSF sector are finding it difficult to put appropriately priced professional indemnity (PI) insurance cover in place for their practices, according to an expert service provider in the space.

SMSF software provider BGL’s new offering, Simple Fund 360, has received solid support from existing clients since it was made available to them last week.

SMSF advisers need to be mindful that notional estate orders decided by the courts in regard to will challenges can affect superannuation balances, according to an SMSF lawyer.