Australian software company eAuthority is set to launch a beta release of its SMSF bank account verification service to make rollovers of retirement savings balances from Australian Prudential Regulation Authority (APRA)-regulated funds easier.

Commercial property is an asset class currently providing good investment opportunities for SMSFs, but it is still largely being overlooked by fund trustees, according to Australian Unity Real Estate Investment.

Australia Post’s straightforward service offering to act as a conduit between an employer and an SMSF to meet SuperStream obligations has resonated well with the market, ahead of the commencement date.

As software companies compete with each other to drive the quality and timeliness of online reporting, SMSF trustees have accepted annual reporting as the benchmark.

Trustees who are caught out by inconsistencies in their SMSFs are facing costly legal disputes that can take years to settle, according to an industry lawyer.

The federal government, Australian Taxation Office (ATO) and Australian Securities and Investments Commission (ASIC) are looking to further increase professionalism, reduce red tape and target one-stop shop operations in the SMSF space as the industry continues to grow and mature.