Accountants looking to add financial advice to their SMSF service offering are favouring the subject of risk cover over general wealth management, according to a licensee development manager.

The tax determination (TD) regarding the use of shared bank accounts for SMSFs supporting pension and non-pension members is a positive development, but not without complexities that require careful treatment, according to a specialist service provider for the sector.

A new report by the Association of Superannuation Funds of Australia (ASFA) has revealed a clear picture of where superannuation tax concessions flow and counters the assumption concessional contributions are significantly skewed towards high-income earners.

Investors Mutual has announced the launch of its first listed investment company (LIC), QV Equities (QVE), aimed at providing a diversified portfolio of quality companies particularly for the SMSF sector.

ECP Asset Management (ECPAM) has issued its prospectus for a new listed investment company (LIC) offering access to the Australian small and mid-cap equity sectors, with SMSF trustees as its target audience.

SMSF experts have again expressed their concerns over the lack of regulation surrounding advice given on limited recourse borrowing arrangements (LRBA) by practitioners, such as real estate agents and mortgage brokers.

The SMSF Professionals’ Association of Australia (SPAA) has welcomed a recent report that revealed SMSF members were the most satisfied when compared to other super funds.

The Australian Taxation Office (ATO) is encouraging SMSF trustees to make their funds SuperStream complaint as soon as possible even though the start date for the new contributions regime has been pushed back to 3 November.

The Australian Taxation Office (ATO) has approved a course for the purposes of education direction for SMSF trustee contraventions and has specified the requirements for other courses to be considered for inclusion.