A lack of diversification and limited exposure to debt-based products was constraining the portfolios of Australian SMSF trustees and a new approach to income investments was needed, according to marketplace lender Zagga.

SMSF advisers still have an opportunity to review their clients’ strategies and implement any last minute changes ahead of the start of the new financial year and the introduction of the latest super reforms on 1 July, according to a technical expert.

Class has released a major update, including capital gains tax (CGT) relief applications and the recording of pension transactions for the $1.6 million transfer balance cap reporting, ahead of the substantial superannuation changes commencing on 1 July.

With a lot of focus on the lead-up to year end, particularly when dealing with the upcoming changes to super from 1 July, some SMSF trustees may face additional issues due to members having multiple pensions.