All limited recourse borrowing arrangements (LRBA) involving related-party loans should be reviewed prior to Christmas to ensure they do not generate non-arm’s-length income.

Accountants have been encouraged to voice their bold ideas to influence and drive legislative change in the industry, as well as ensuring the profession’s prosperity.

Australian fintech start-up Accountants Scaled Advice Platform (ASAP) has announced it has integrated an e-signature solution onto its digital advice platform for accountants, which will put the focus back on delivering advice to clients.

The maintenance and administration of SMSFs and records under the complex superannuation rules will be a significant challenge for the industry as the legislation assumes the sector operates on real-time data.

Class has added the ability to process information pertaining to international assets through incorporating direct-connected data feeds from HSBC in its SMSF administration software application.

Advisers need to ensure decisions made about risk cover for SMSF members are well documented to avoid the possibility of litigation against them, according to an insurance specialist.

Accountants failing to inform their clients of the new superannuation changes starting from 1 July 2017 could be breaching a duty of care and found to be professionally liable for a financial loss or penalty, according to a technical executive.

SMSFs, particularly those close to or in retirement phase, are showing great interest in exchange-traded bond units (XTB) as they present an innovative way to gain access to the Australian bond market, which in turn helps to reduce portfolio risk.

The $1.6 million transfer balance cap coupled with the proposed change in contributions caps could lead to a spike in SMSF establishments in the immediate future, the partner of a chartered accounting firm has predicted.