The Australian Securities and Investments Commission (ASIC) has rejected suggestions an obligatory minimum balance should be satisfied before an SMSF can be set up.

The SMSF Professionals’ Association of Australia (SPAA) has further developed its educational support for its specialist members with the launch of an online technical mentoring program.

SMSF documentation and strategy specialist NowInfinity has joined forces with administration provider Class Super and accounting software firm Xero to automate certain SMSF functions, including fund establishment and setting up limited recourse borrowing arrangements.

Magellan Funds Group is in the process of securing inclusion on the new Australian Securities Exchange (ASX) mFund Settlement Service as a means of attracting fund flows from the SMSF sector.

SMSF advisers should consider bonds and fixed income investments for clients transitioning from the accumulation into the retirement phase, one industry expert has recommended.

The Australian Taxation Office (ATO) is closely monitoring trustee education seminars, particularly those being held overseas, to make sure the associated strategies and investments fall into line with the sole purpose test.

Prompt action is required on division 293 tax notices in order to avoid interest payments and penalties, according to a specialist superannuation lawyer.

Superfund Wholesale is preparing to launch a business-building tool to assist start-ups and smaller advisers to compete in the self-managed superannuation fund (SMSF) space.

Home equity bias typically reflected in SMSF portfolios may mean these superannuants will miss better investment opportunities in both growth and value stocks not listed on the Australian Securities Exchange, according to a global funds management house.