A determination by AFCA may force SMSF trustees viewed by regulators as wholesale investors to exit assets purchased under that definition with questions being asked about how investors with significant assets should view themselves.

The government’s efforts to pass the Division 296 tax bill have come down to making wild claims about its widespread acceptance while engaging in back room deals to garner support, highlighting the fact the bill is not popular at all.

A court case APRA has brought against the director of an industry fund has highlighted the policy priorities of Canberra.

A flurry of activity in Canberra last week saw a raft of bills pass through parliament including the objective of superannuation while the Division 296 bill was placed on the back-burner, which for the moment is a win for the SMSF sector.

A recent letter writing campaign to SMSFs with unchanged valuations is symbolic of the ATO’s desire for trustees to get their house in order around the routine, daily operations of their fund.

The ATO’s intense focus on scams targeting SMSFs is a strong indicator that trustees should be cautious and take seriously the warnings and assistance the regulator provides to avoid falling prey to criminal activity.

Greater scrutiny of the ‘green’ investment offerings, including penalties for mis-representation, are a welcome development which provide certainty for SMSF investors looking to invest in line with their own convictions.

Changes to an 11 year old tax ruling have made it more difficult to recommence a pension when the minimum payments have not been met adding more complexity to the administration of an SMSF for retirees.

The Division 296 tax debate in parliament has led to unnecessary questions about the use of LRBAs in SMSFs while its flaws remain unaddressed by the government reinforcing the perception this bill will not improve confidence in the super system.