SMSF Association National Conference

The most important aspect of SMSF membership is commitment, SuperConcepts’ Graeme Colley told advisers at the SMSF Association’s National Conference, stressing that potential trustees’ prime consideration should be whether they have the time and energy required to run a successful fund.

Michelle Levy said she was ‘puzzled’ by the government’s decision to conduct a consultation on the proposals handed down in the advice review, while industry leaders urged for the adoption of her reform suite.

Peter Burgess told the SMSF Association’s National Conference the industry group has pushed for some of the developments, while it continues to oppose others, such as a high-balance cap. The government now plans instead to double the tax rate for funds with very high balances.