The application of contribution reserving strategies was perhaps broader than first thought, following the release of an ATO form and the tax office’s position not to question why a contribution was not allocated.

BGL Corporate Solutions has announced it has released Australia’s first commercial property desktop assessment solution designed especially for SMSFs, in partnership with CoreLogic RP Data.

SMSF trustees were listening to the guidance given to them around potential or identified breaches during the audit process, according to an audit specialist.

New retirement income developments that address the challenges of living longer may result in the winding up or rollover of SMSFs as part of the sector’s natural evolution.

The ATO has revealed SMSFs will face a full evaluation, including their entire history, where incorrectly structured limited recourse borrowing arrangements (LRBA) are not rectified by the end of the financial year.

A successful court ruling against a property spruiker has created a test case, emphasising the need for anyone recommending or facilitating SMSFs as a way of investing in property will need to have a licence and provide appropriate advice to clients.

The federal government today said it did not agree with the Financial System Inquiry’s recommendation to prohibit limited recourse borrowing arrangements by superannuation funds.

Chartered Accountants Australia and New Zealand (CAANZ) has announced its head of superannuation Liz Westover will leave the body next month, with the search for her replacement underway.

The SMSF industry should conduct a review of the current investment strategy rules and primarily whether the trustee’s responsibility to formulate the strategy was still appropriate, according to a sector expert.