New legislation introduced recently by the federal government dealing with excess concessional contributions tax (ECT) should encourage SMSF trustees to revise their strategies, according to an SMSF expert.

SMSF administration software provider Class Financial Systems has included a new automated property valuation capability for its industry application, Class Super.

The overwhelming majority of SMSF auditors believed their existing skill set would exempt them from having to sit an exam to gain Australian Securities and Investments Commission (ASIC) registration, according to the latest survey conducted by the SMSF Professionals’ Association of Australia.

The ability to establish an existing interdependency relationship to qualify for concessional tax treatment of SMSF death benefits is complicated and needs to be approached in a specific manner, according to a superannuation commentator.

SMSF members belonging to the baby boomer demographic and requiring a retirement income stream should have their pension arrangements in place before the new deeming rules come into effect, a leading industry expert has said.

The federal government’s proposed tax on pension earnings over $100,000 is unlikely to be implemented due to its complexity, according to an SMSF sector expert.

The latest research into the SMSF sector has shown a significant number of trustees would be willing to use an accountant currently only being used for tax advice for investment advice if they decided to offer it.

The use of promissory notes can provide greater flexibility when employing a gearing strategy within an SMSF, according to an expert servicing the sector.

Class Super has earmarked more rapid improvement to its existing reporting product with the $2.15 million capital injection resulting from CountPlus’s purchase of 1 million shares in parent company Super IP.