SISFA has announced plans to merge with Tax and Super Australia rolling its operations and membership into the latter and dropping its name.

Limits apply to the tax deductibility of expenses related to setting up an LRBA, with the ATO viewing legal advice as outside the deduction provisions.

The ATO has reminded trustees that good record-keeping and the on-time lodgement of SMSF annual returns are legal requirements.

The number of IPOs in early 2022 will be strong following the highest number of new floats in a decade during the past year.