Former Chartered Accountants Australia and New Zealand (CAANZ) head of superannuation Liz Westover has been appointed as PwC Private Clients director, as part of its plans to bolster its SMSF practice.

The ongoing controversy around the taxation of Australian superannuation was damaging public confidence in the system, despite current operations working well, according to the SMSF Association (SMSFA).

SMSF advisers must be mindful of purpose-built trust deeds as they might restrict the activities of a fund, which could result in an inadvertent compliance breach and possible legal action against the practitioner, according to a leading sector educator.

The latest study into the future of the Australian superannuation landscape has predicted SMSFs will continue to be the dominant retirement savings vehicle for individuals in their retirement years.

The Financial Ombudsman Service (FOS) would apply to all pathways following the end of the accountants’ exemption, including where accountants choose to operate under referral arrangements.

Accountants opting not to get licensed to provide limited or full financial advice will still be able to act on many execution-only services, but must use caution and disclaim their scope up front, a specialist SMSF lawyer has warned.

Class today announced the minimum subscription level of $5 million under the company’s initial public offering (IPO) had been exceeded, despite unforeseen delays caused by the need to lodge a supplementary prospectus.

BMR Corporate Solutions has successfully integrated with BGL Simple Fund 360.

Accounting businesses must find ways to leverage the disruptions challenging the industry in order for client relationships to prosper.