Trustees must undertake reasonable steps to ensure an SMSF’s assets and investments can be valued fairly and objectively ahead of adding them to the fund, a technical expert has warned.

An SMSF change of trustee document could be a “time bomb” if not properly drafted by a lawyer, due to the numerous hurdles to overcome in order to ensure a valid removal and alteration.

While the issue of SMSF members meeting their minimum pension payments has received much attention since the new super rules commenced, the overpayment of pension income is equally as crucial an area to monitor, a specialist industry law firm has warned.