Specialist SMSF administrative software provider BGL Corporate Solutions has incorporated new functionality to assist practitioners service their clients regarding the capital gains tax (CGT) relief provisions contained in the super reforms set to take effect from 1 July.

SMSF administration software provider BGL Corporate Solutions has cited the 2017 federal budget as an example of how important it is for self-managed funds to use an administration solution based in the cloud.

The Tax Practitioners Board (TPB) has released an information sheet detailing the obligations of advisers in relation to confidential client information as outlined in the industry body’s Code of Professional Conduct.

SMSF investors who fall into the outsourcer and coach seeker categories are destined to disrupt the industry and the way advice is delivered in the future, according to the latest industry research.

A panel of financial services industry executives has suggested automation in the form of robo-advice can help accountants service smaller clients more efficiently, but recognition of the pitfalls associated with automation need to be considered before its implementation.

Keeping tabs on clients’ balances not exceeding the $1.6 million transfer balance cap may not be as challenging as the days of reasonable benefit limits (RBL), a technical expert has said.

Advisers must be proactive on their journey to professionalism and realise their position as community advocates as they engaged the clients of tomorrow and restored confidence in the sector, a standards body has said.

The outgoing chief executive of the SMSF Association has challenged SMSF practitioners to embrace their role model status and take control of their profession for the betterment of clients and the overall industry.