An industry survey has revealed SMSF portfolio allocation to the property sector increased only slightly from 19 per cent to 19.5 per cent in the March quarter.

Many SMSF accounting firms struggle to identify the best software solution for their circumstances and often choose technology under duress rather than recognising the triggers to allow for a critical review of their current platform.

Accountants are 10 per cent behind on their SMSF annual return lodgements compared to the end of May last year, despite a deadline extension, according to Class Super.

Accountants remain concerned about how they are going to execute their SMSF business in light of the new advice education standards and the limited licensing regime, according to AccountantsIQ.

Accountants servicing SMSFs have been told to exercise caution over the revolutionary technology and software that continues to impact on the sector as it may not necessarily meet their needs.