The SMSF Association has used its 2016 budget submission to call on the government to change the legislation applying to Australians wanting to continue to make contributions to their SMSF while working overseas.

SMSFs that need to refinance current limited recourse borrowing arrangements (LRBA) have been urged to do so sooner rather than later as the new ATO practical compliance guidelines (PCG) have immediate effect, regardless of whether the loan was established before their release.

Australia’s only peer-to-peer (P2P) lending platform available to retail investors, RateSetter, has announced its lenders have earned over $1 million in interest from loans facilitated since its launch.

Independent planning and accounting dealer group GPS Wealth has launched an automated statement of advice (SOA) tool that enables accountants to meet their obligations under the licensing regime and increase their productivity, profitability and growth potential.

Former company director Steven William Hill has been sentenced in the Sydney District Court to two years and nine months’ imprisonment, following an ASIC investigation that discovered Hill persuaded investors to set up SMSFs and invest in sham property investments.

The objective of superannuation should not be open-ended, the Institute of Public Accountants (IPA) has stated in light of the potential changes expected to hit the system in next month’s federal budget.