The ATO has extended the time period SMSF trustees have to comply with the new safe harbour guidelines governing non-bank limited recourse borrowing arrangements (LRBA).

SMSFs with multiple pensions must use extra caution when it comes to which pension to roll back and the order under the proposed $1.6 million transfer balance cap requirements.

Superannuation tax changes should not be applied retrospectively, however, both major parties had broken that convention, which would result in hardship and unfairness for trustees, according to the SMSF Owners’ Alliance (SMSFOA).