Most of the 1 July 2017 superannuation reforms placed yet more restrictions on an individual’s ability to add to their superannuation.

The federal opposition’s proposal to end cash refunds for excess dividend imputation credits should ring alarm bells for SMSFs about the risks of home bias in investment portfolios.

SMSF entrants will hesitate to invest in self-funded retirement on the back of the Labor Party’s imputation credits policy proposal, according to the Institute of Public Accountants (IPA).

Practitioners in the industry have voiced their worries over the high increase in registration fees in order to fund the Australian Securities and Investments Commission (ASIC), according to one institutional body.

Removing the cash refunds for excess imputation credits for super funds will affect existing SMSF strategies and prompt a measured rethink for new strategies, a technical expert has said.

Removing dividend imputation credit refunds could result in unintended consequences, including driving a bias to certain asset classes or distorting the system in other ways, according to several industry bodies.