The draft legislation on limited recourse borrowing arrangements (LRBA) should be introduced into Parliament, as it provided much-needed clarity on which entity was responsible for income tax, according to Strategy Steps.

BT Investment Management (BTIM) is continuing to invest in its SMSF strategy via the private client and high net worth individual (HNWI) channels after experiencing early success.

The ATO has removed the display of the electronic service address, referred to as an alias, on its register of SMSF messaging providers.

AMP SMSF has strengthened its sales team with the appointment of Trevor Clisby to the role of SMSF solutions manager.

A significant proportion of accountants servicing the SMSF sector are intending to use the Australian Securities Exchange (ASX) mFund Settlement Service for their clients in the immediate future, according to the latest Investment Trends research.

The SMSF Owners’ Alliance has welcomed Assistant Treasurer Josh Frydenberg’s call for greater scrutiny of the governance of Australian Prudential Regulation Authority (APRA)-regulated superannuation funds, especially in regard to trustee independence.

Individuals who will provide SMSF advice in a hybrid accounting and financial planning environment in the future may not be the highest-quality professionals due to a communication gap between learning institutions at all levels and the industry, according to some sector leaders.

Added diligence around timing and the name of the purchaser in relation to contracts of sale can save SMSF trustees and advisers from harrowing and costly stamp duty issues, a specialist law firm has said.

Accountants looking to apply for a limited Australian financial services licence are thinking twice about choosing a low-cost licensing option as they have acknowledged the need for additional support and guidance in relation to the transition into advice.