Revenue and Financial Services Minister Kelly O’Dwyer has revealed she expects the consultation process regarding exposure draft legislation for the proposed changes to the superannuation framework will start shortly.

BT Financial Group (BTFG) has revealed interest in its BT Panorama SMSF platform across financial advisers and dealer groups has been strong since it opened its doors for business in April.

Advisers and trustees should be looking to roll back any money over $1.6 million from pension phase to accumulation phase once the proposed transfer balance cap was implemented, regardless of whether any provisions forcing that course of action were introduced, according to an SMSF strategist.

The SMSF Association has welcomed the decision to reappoint Treasurer Scott Morrison and minister Kelly O’Dwyer, saying it delivered much needed stability to the sector amid critical budget issues that need to be resolved.

AccountantsIQ has launched a support service to assist accountants who have acquired a limited Australian financial services licence (AFSL) to adapt to the new regulatory environment they now find themselves in.

The federal opposition has promised to address the retrospective nature of the proposed changes to the superannuation system contained in the 2016 budget.

Advisers servicing SMSF clients currently need to consider specialising in a specific area of the sector rather than the sector as a whole, an industry expert has said.