A recent decision handed down by the Family Court of Australia has confirmed superannuation assets cannot be split for the benefit of a third party.

SMSFs holding collectables need to ensure they are compliant under the incoming regulations applicable from 1 July 2016, as the deadline did not leave much time for planning due to the nature of those assets, according to a specialist SMSF lawyer.

BT Financial Group (BTFG) is planning to grow its share of the SMSF market by including a full-service SMSF facility on its Panorama platform, to be launched in November.

SMSF administration software specialist Class has revealed a development with one of its stakeholders has resulted in the need to submit a supplementary prospectus to ASIC, as well as temporarily suspend applications for shares.

Specialist superannuation legal firm Townsends Business and Corporate Lawyers has identified the objective to better align the tax charged on the accumulation and retirement phases of superannuation as a continuing concerning aspect of the Financial System Inquiry (FSI).

The capacity for the SMSF industry to maintain itself perpetually was high because of practitioners’ professionalism, commitment to trustees and members, and consultative approach in relation to government and regulators.

The SMSF Association (SMSFA) has declared there is an urgent need to open infrastructure investments to SMSFs, with the federal government and opposition focusing on future infrastructure opportunities.

The ATO has revealed that while it is aware of rising concerns about more SMSF services being outsourced overseas, it has not yet run into any major issues.

ASIC’s 2014/15 annual report has shown the number of limited Australian financial services licences (AFSL) issued to accountants remains very low.