The legal need for the investment strategy of an SMSF to specify the asset allocations to be employed by the fund is a misconception among both trustees and advisers, according to a technical expert servicing the industry.

The SMSF Professionals’ Association of Australia (SPAA) and Australian SMSF Members Association (ASMA) have refuted claims SMSF investments are inflating residential property prices.

Increased attention on aggressive marketing for property borrowing within SMSFs has the industry considering whether further licensing is necessary in order to safeguard trustees.

SMSF service provider Mclowd is set to increase the speed of its administration platform and marketplace development after securing additional funding of $300,000.

The ability for SMSF auditors to be across all issues present in the sector continues to be a challenge and potentially a significant risk, according to an insurance expert servicing the space.

The Australian Taxation Office is turning to issuing garnishee notices on individuals’ superannuation savings as a means of recovering money owed to it and has already made an unsuccessful attempt to do so.

SMSFs will dominate post-retirement assets for the next two decades, the latest Deloitte study into the Australian superannuation industry has revealed.

The Australian Securities and Investments Commission (ASIC) has revealed the total number of individuals who have become registered SMSF auditors has more than tripled since April, increasing from 1500 to 7035.

Despite a third of SMSF trustees stating they have unfulfilled advice needs, financial planners are starting to address these specific topics for clients, according to research from Investment Trends.