Call for SMSF trustee training to be tax deductible
The Self Managed Super Funds Professionals’ Association (SPAA) has released its self-managed super fund (SMSF) governance submission in response to requests from the Minister for Superannuation and Corporate Regulation, Senator Nick Sherry.
SPAA chief executive officer Andrea Slattery said the submission focused on three areas: education levels of industry professionals, superannuation law and aggressive marketing of financial products to SMSF trustees.
“SPAA believes the Government should continue to support industry self-regulation with an aim of developing professionalism and the quality of advice.”
Slattery said SPAA did not support the introduction of mandated training standards for trustees but considered it pivotal for financial advisers.
“Any training undertaken by trustees of SMSFs to improve knowledge of superannuation laws should be tax deductible to either the fund or the individual undertaking the training.”
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
