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The impact of changes to regulation on the SMSF industry
Description
On this episode of Accountants Daily Insider, host Sarah Kendell sits down with the executive manager of SMSF technical and private wealth at SuperConcepts, Graeme Colley, to discuss recent regulatory developments in the SMSF space and the subsequent impact on industry professionals.
Mr Colley shares his views on whether claims made by ASIC in their fact sheet on SMSFs are exaggerated or misleading, runs through the standard costs for servicing different types of funds, and explains the difficulties in comparing performance figures when considering SMSFs versus APRA funds.
He also outlines SuperConcepts' involvement in the consultation process with the ATO and the new non-arm's length income (NALI) laws, suggests how the regulations can be amended to provide a more practical solution for accountants, and responds to the contentious topic of the ATO's campaign around investment strategy.