A Quality of Advice Review report has recently been presented to the government for final review. This report seeks to address concerns surrounding the SMSF industry particularly, issues regarding the provision of financial advice. The effect of the review is expected to flow through in the 2023 financial year.
ASIC released its updated SMSF advice guidance last December 2022 by removing the $500,000 threshold for new SMSF setups and highlighting the importance of seeking a financial adviser that possesses an SMSF specialist knowledge. See here for ASIC’s Information Sheet 274 – INFO 274.
Superannuation Warehouse is an SMSF-specialist accounting firm. We are not financial advisers and do not provide any form of financial advice. However, we provide factual information regarding SMSFs. For more on info on financial advice, please see here.