Compliance activities and associated punitive measures applied by the ATO over recent years have revealed the SMSF sector is in very good shape and with few problems.

SMSF compliance services provided by accountants are unlikely to drive and improve practice revenues as they do not present a unique business proposition, a strategic business consultant has said.

The ATO will concentrate on cases of serious non-compliance from SMSFs in the coming financial year.

The SMSF Association has expressed concerns over the prospect of accountants continuing to provide advice to SMSF clients without being properly licensed in the wake of a poor response to the new licensing regime that came into effect on 1 July.

The latest compliance issue facing SMSF advisers is how to avoid a goods and services tax (GST) property headache when commercial property is purchased by a fund.

SuperAuditors has added SMSF technical support services to make the compliance process more straightforward for practitioners.

Legal firm Cowell Clarke has improved its online Australian financial services licence (AFSL) compliance portal with the addition of a digital statement of advice (SOA) automation program.

Trustees withdrawing funds illegally from their SMSF was a top recurring trend throughout last year and was expected to continue in 2016, according to an SMSF auditor.

Trustees could apply a straightforward rule of thumb to related-party transactions to avoid any compliance issues as many had been found trying to manipulate the legislation, according to an SMSF auditor.