The SMSF Association has come out in full support of the federal government’s decision to legislate the improvement of professional standards for financial advisers.

SMSFs have historically had to pay twice for administration and other costs to effectively unwrap wrap assets, but these costs can finally be removed.

Plenty Plus will deliver its transactional solution for unlicensed accountants on its website this week, with the service already garnering strong interest in the marketplace.

The federal government last week released the final tranche of exposure draft legislation and explanatory material for the superannuation reforms first announced in the 2016 budget.

The SMSF sector will be more adversely affected than any other superannuation sector by the impending reduction in the concessional contributions caps as members of these types of fund tend to make a greater amount of personal contributions.

Class today announced it had achieved substantial growth in its billable portfolios, the majority of which were SMSFs, in addition to winning SMSF accountants’ business where they were moving over to the cloud.

A rise in the number of SMSFs and their assets to all-time highs in the June quarter 2016 highlights the appeal of do-it-yourself investing for many Australians. But SMSFs are still piling a considerable amount of money into cash, which may reduce wealth-creation investment opportunities over the long term.

Despite the complexity and multiple challenges presented by the draft superannuation legislation, the introduction of deferred annuities should provide SMSFs with some control and flexibility over their retirement income.