SMSF members considering deliberately breaching the excess concessional contributions cap under the new rules as a tax deferral strategy need to be mindful of a few factors, including the ability to cover the excess contributions charge, according to a specialist SMSF lawyer.

Specialist SMSF service provider Heffron has rebranded itself in the fastest-growing sector of the superannuation market.

The latest Australian Taxation Office (ATO) draft tax determination addressing asset segregation associated with pension payments contains some areas of concern, of which SMSF trustees will have to be mindful when looking to fund a retirement income stream, according to a specialist lawyer servicing the sector.

A panel of SMSF sector experts has concluded the costs associated with the new licencing regime and raised professional standards should not be viewed as a barrier to entry for the provision of advice to SMSF clients.

Super Guardian has added additional functionality to its SMSF administration and investment service, Xpress Super, with the inclusion of a direct property option for clients.

The SMSF Professionals’ Association of Australia (SPAA) has described as encouraging the continued growth of the sector reflected in the latest Australian Prudential Regulation Authority (APRA) statistics.

Accountants looking to build a successful SMSF practice under the new regulatory regime should not make the licensing requirements their main focus, according to an industry consultant.

Parents need to be cautious about including children in their SMSF and should ensure protective measures are incorporated into the operation of the fund in these types of structures, an expert SMSF lawyer has said.

The average contributions figure for self-managed funds for the year ended 30 June 2013 was $35,200, representing a fall of $12,300 from the previous year’s average of $47,500, the latest “Multiport SMSF Investment Patterns Survey” revealed.