Class recorded a 71 per cent increase in net profit after tax (NPAT) to $5.83 million for the year ended 30 June 2016, maintaining its ability to pursue new business opportunities going forward.

The SMSF Owners’ Alliance (SMSFOA) has labelled reports that the Turnbull government may contemplate an exemption to super contributions from lottery wins as “farcical” and, if true, “deeply unfair”.

The fixed nature of the government’s proposed $1.6 million transfer balance cap has come under fire for overlooking the significant repercussions it will have if major market fluctuations occur, including another global financial crisis (GFC)-like event.

Independent online platform ESIC Hub will begin to provide SMSFs with investment access to the new asset class of early-stage innovation companies (ESIC), which will also provide trustees with significant tax benefits.

The Australian Securities and Investments Commission (ASIC) has reminded the industry of its surveillance activities for SMSFs, including monitoring newly licensed accountants, shadow shopping and financial advice in larger institutions.

SuperConcepts has announced the appointment of Graeme Colley as executive manager for SMSF technical and private wealth.

SuperConcepts has announced the appointment of Graeme Colley as executive manager for SMSF technical and private wealth.