The purchase of property in an SMSF has been the subject of much media coverage of late. The ability of super funds to now buy residential property through borrowings has opened up a new class of property buyer and has encouraged some investors to establish SMSFs to take advantage of this opportunity. 

While both major political parties have announced they would not interfere with the superannuation system in the next parliament, the reality is that change is needed.

As a professional body, the Institute of Public Accountants (IPA) puts a lot of effort into lobbying government in relation to proposed measures.

The Superannuation Industry (Supervision) (SIS) Act 1993 requires an SMSF to be audited annually by an ‘independent’ auditor.  But just what is an independent auditor?