SMSF trustees and advisers now have access to a new education platform aimed at keeping them up to date with the latest developments in the sector.

The 2015 federal budget announcements regarding the age pension and the fairness contained in the initiatives have been applauded by respected quarters of the SMSF sector.

The federal government’s decision to ease the rules around early access to retirement savings as a result of terminal illness has drawn praise from industry bodies.

ASIC has begun legal action in the Federal Court seeking financial penalties and orders to prevent Superannuation Warehouse Australia (SWA) from flogging free SMSF set-ups.

Ungeared unit trusts could potentially become a relevant structure again for SMSF trustees should a ban on limited recourse borrowing arrangements (LRBA) go ahead.

SMSF trustees must take full responsibility for their decisions as breaches to investment standards could lead to problems with the sole purpose test as well as possible non-compliance, an industry expert has warned.