Market valuations have emerged as a crucial area in the SMSF sector, particularly in light of regulatory changes and heightened ATO scrutiny. The looming spectre of Division 296 further complicates the landscape, particularly regarding the methodology used for valuations.

In this episode of the SMSF Adviser Podcast, host Aaron Dunn, chief executive of Smarter SMSF, is joined by industry stalwart Shelley Banton, head of technical for ASF Audits, to delve into the changing expectations for valuations and meeting the challenging compliance requirements.

Listen as they discuss:

• The complexity of market valuations, especially for assets that lack readily available market data.
• Concerns around private credit.
• Practical solutions that may support auditors.
• The shift in expectations for the auditing profession.

The updated rules on when a pension commences and ceases have created confusion in the SMSF sector. On this week’s episode of the SMSF Adviser podcast, hosts Aaron Dunn and Keith Ford delve into the intricacies of TR2013/5 with Tim Miller, head of education and technical for Smarter SMSF.

Miller explains how the revised ruling, which was updated in June 2024, primarily reflects changes from the super reforms introduced on 1 July 2017. He provides a fresh perspective on what needs to happen when a super income stream fails to meet the pension standards for a financial year, particularly with minimum pension requirements.

Listen as they discuss:

• How the consequences of failing to meet pension standards have become more stringent.
• The trust law aspect of pensions.
• The importance of understanding the minimum pension obligation and the consequences of failing to meet it.
• The retrospective application of these rules.
• The complexities surrounding TRIS.
• The time frame for losing ECPI beyond the traditional 12 months.

Australia is currently grappling with a complex web of regulatory reforms, which has left many advisers in a state of limbo. In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn discuss the pressing issue of financial advice reform.

One of the most troubling issues is in the advice sector, and after nearly three years since the Quality of Advice Review (QAR) report was delivered, the sector is still waiting for significant progress.

• Listen as Keith and Aaron discuss:
• The fragmented nature of the regulatory framework.
• The challenges in the requirement for an account number on fee consent forms.
• The government's focus on super, particularly in the retirement phase.
• Technical aspects of SMSF management, including deferred tax accounting.
• Recent actions by ASIC against SMSF auditors.