Practitioner misunderstanding regarding market valuations for SMSF assets remains prevalent, especially issues such as when a valuation is needed and who can provide one, according to a specialist sector auditor.

Melbourne-based credit specialist fund manager La Trobe Financial has introduced a loan facility for SMSFs looking to implement limited recourse borrowing arrangements (LRBA) to acquire fund assets.

The SMSF sector has responded enthusiastically to Treasurer Joe Hockey’s announcement last week to scrap the proposed tax on pension income over $100,000.

The Australian Taxation Office (ATO) will take a tougher stance on the non-lodgement of SMSF annual returns by removing funds from Super Fund Lookup.

The Australian Securities and Investments Commission (ASIC) is proposing an increase in the disclosure requirements for SMSFs.

Specialist SMSF administration provider SuperIQ has acquired ANZ’s SMSF administration arm, Super Concepts.

The SMSF Professionals’ Association of Australia (SPAA) has called on the federal government to raise the concessional contributions caps from their current levels to help ensure Australians will be able to adequately fund their own retirement.

Many SMSFs and advisers to the sector are ill-prepared for Stronger Super changes that will affect them, according to lawyer Philip Broderick.

Westpac Group will roll out SMSF specialists across its phone-based services as well as its branches as part of its plans to better address the growing number of SMSF enquiries.