The Australian Taxation Office (ATO) is optimistic the new penalty regime available to it from 1 July will cut down repeated compliance breaches by SMSF trustees.

Following a review into the administration of the excess contributions tax (ECT) regime, the Inspector-General of Taxation (IGT) has recommended a total of 11 changes be made to the existing system.

Fractional property provider DomaCom has unveiled a low-cost SMSF property product in response to increasing demand from generations X and Y to access the property market.

CMC Markets Stockbroking has announced its pricing levels for the new Australian Securities Exchange (ASX) mFund unlisted managed funds settlement service.

Treasury has endorsed having a non-prudential regulator, namely the Australian Taxation Office (ATO), govern the operation of the SMSF sector.

Rapid technological change will drive efficiencies in the SMSF space, but the thinking around administration capabilities must be separated from investment opportunities.

Trustees need to assess SMSF product offers with greater scrutiny or risk incurring heavy fines under the Australian Taxation Office’s (ATO) new penalty regime, a specialist superannuation lawyer has said.

The federal budget proposal that income generated from excess non-concessional contributions has to be refunded along with the contributions themselves will be difficult for SMSFs to comply with, according to some sector experts.

The announcement changing how the age pension applies to Australians contained in last week’s budget is likely to place even more importance on superannuation savings, according to an industry commentator.