An SMSF strategy expert has recommended trustees with a limited recourse borrowing arrangement (LRBA) in place set up a small related-party loan as a safety measure to guard against the uncertainty surrounding the current superannuation gearing rules.

A leading law firm has advised proactive action within an SMSF and communication with the Australian Taxation Office are the most effective means of dealing with a fund contravention.

The Australian Securities and Investments Commission is seeking interim and final orders from the Supreme Court of NSW to prevent property investment promoter Park Trent Properties Group from operating a financial services business without a licence.

Individuals considering establishing an SMSF need to be wary of their compliance obligations and consider carefully who the best service provider is to assist them to meet these responsibilities, a sector administration specialist has warned.