The SMSF Professionals’ Association of Australia (SPAA) is calling for a flat fee to be charged in relation to refunded excess non-concessional contributions instead of the proposed withdrawal of earnings associated with these cap breaches.

SMSF investors intend to add greater diversity to their portfolios through a larger allocation to international shares in the immediate future, the latest industry research has shown.

The SMSF industry must position itself for the development of two discrete markets to capitalise on and sustain future business, the head of a data research house said last week.

The latest research capturing the views of financial services chief executives has revealed their willingness to use innovation to address the lack of consumer confidence in the industry that has manifested itself in the continued growth of SMSFs.

The Australian Taxation Office (ATO) will soon clarify its position over the validity and tax treatment of related-party limited recourse borrowing arrangements (LRBA) charging zero interest being used by SMSFs.

Financial services chief executives are concerned about the level of public trust in financial advisers, stating the Future of Financial Advice (FOFA) reforms have contributed to its erosion.

The SMSF Professionals’ Association of Australia (SPAA) has released lending and advice guidelines for practitioners providing advice on limited recourse borrowing arrangements (LRBA).

SMSF trustees no longer need to specifically address the use of reserves in the investment strategy of their funds.

Specialist SMSF administration provider Class Financial Systems has grown its market share to 10 per cent as it looks to prepare for its initial public offering (IPO) after the end of the 2015 financial year.