The average contributions figure for self-managed funds for the year ended 30 June 2013 was $35,200, representing a fall of $12,300 from the previous year’s average of $47,500, the latest “Multiport SMSF Investment Patterns Survey” revealed.

The recent Australian Taxation Office ruling on pensions, TR 2013/5, created the opportunity for advisers to employ new advantageous methods for commencing a pension and liaising with clients, according to a specialist superannuation lawyer.

The latest SMSF Professionals’ Association of Australia (SPAA) polling has found 25 per cent of the industry body’s accounting members yet to be licensed as per the new advice framework have decided to continue to service the sector under some sort of licensing arrangement.

A recent trend occurring in the SMSF space is seeing existing trustees including individuals from generation Y as new members of their superannuation funds.

The number of automated data feeds incorporated into Class Super’s specialist administration platform has now exceeded 100 with the addition of Bendigo and Adelaide Bank, CMC Markets Stockbroking and Baker Young as new data partners.

Borrowing to acquire property within an SMSF has increased in the past 12 months and further growth is expected as the majority of advisers continue to recommend gearing to their clients.

SMSF advisers looking to formulate an investment strategy for their clients need to recognise that knowing the client and knowing the assets in the portfolio are not the same, according to an investment specialist.

SMSF practitioners are trying to understand the new complexities introduced by the latest tax ruling affecting superannuation pensions, despite a lack of clarity in relation to some aspects of it, according to the SMSF Professionals’ Association of Australia’s (SPAA) technical director.

Heffron has launched its new offering for accountants, the SMSF Administration Outsource Service, to help them deliver better value to their SMSF clients but also retain control of their relationships.