Changes to the way superannuation is taxed in Australia need not be perceived negatively despite the fact large tax incentives to certain individuals may be removed, according to the partner of an accounting firm.

The latest CommSec analysis shows diversification among SMSF share portfolios appears to be less of a concern than previously thought, with trustees holding more varied holdings than those of non-SMSF retail investors.

The SMSF Association has endorsed the federal government’s draft legislation to raise financial adviser professional standards, describing it as an important step in enabling quality financial advice to be delivered and building consumer trust in the industry.

Wealth manager Perpetual has made a plea for accountants to make a decision and take action immediately on the licensing option under which they would prefer to operate in 2016.

The latest sector report has found SMSF trustee allocations to overseas investments in the past 12 months did not meet expectations, but they should improve in the future with the growing global expertise emerging in the industry.

A limited licence presented a pathway for accountants to maintain their independence in the way they operated their business, according to a newly formed team of professionals.

The Australian Securities and Investments Commission (ASIC) has disqualified another two individuals from being approved SMSF auditors, bringing last week’s ban total to three.

The threat of automated processes eliminating accountants and smaller administrators from the SMSF administration space is not as big or immediate as is being made out, according to an industry executive.

Former Chartered Accountants Australia and New Zealand (CAANZ) head of superannuation Liz Westover has been appointed as PwC Private Clients director as part of its plans to bolster its SMSF practice.