The SMSF Adviser Show

Division 296 isn't really a tax story. It's now an estate-planning and family wealth transfer story that happens to involve tax. In this week's episode of the SMSF Adviser Show podcast hosts Keeli Cambourne and Aaron Dunn from Smarter SMSF, speak with Neal Dallas, director of Business Depot Legal about the challenges that are now arising with death benefit nominations and wealth transfer.

Listen as they discuss:

· whether reducing a member's balance to $3m or $10m actually produces the best overall family outcome once tax, transaction costs, ownership and succession are considered;

· how the first death can move the surviving spouse into Division 296 territory;

· the potential mismatch where one person receives the superannuation benefit but the deceased estate has to deal with a later tax liability;

· why post-death transactions inside an SMSF can still affect the Division 296 outcome;

· why established estate-planning strategies, including spouse balance equalisation, BDBNs, EPA powers, pension structuring, recontributions and pre-death withdrawals, remain relevant but may now need to be remodelled.

In this special edition of the SMSF Adviser Show podcast, Olivia Grace-Curran and Mark Jocum explore the expanding ETF landscape and what it means for advisers building SMSF portfolios. From core holdings to targeted allocations, they discuss how ETFs are becoming increasingly sophisticated portfolio tools.

The conversation covers the rise of factor investing, thematic strategies, income-focused ETFs and the role of Growth at a Reasonable Price (GARP) approaches in balancing growth opportunities with valuation discipline.

Listen as they discuss:

• How the role of ETFs in SMSF portfolios has changed over the past decade

• Why ETFs are becoming broader portfolio construction tools beyond low-cost market exposure

• The role of GARP strategies and rules-based investing in diversified portfolios

• How advisers are using ETFs for income, commodities, thematics and targeted exposures

• The importance of understanding the purpose each ETF serves within a portfolio

• How advisers can think about building more resilient SMSF portfolios using ETFs

• Key ETF trends shaping the future of portfolio construction

There has been continued and exponential growth in the SMSF sector over the past few years, borne out by the data collected each year by Class. This year's Benchmark Report once again highlighted just how fast the sector is growing and where that is occuring. In this week's episode of the SMSF Adviser Show podcast, hosts Aaron Dunn from Smarter SMSF, and Keeli Cambourne talk with Tim Steele, Class CEO, about the latest data in the Benchmark Report and extrapolate what this means for the sector now, and what it could mean over the next few years.

Listen as they discuss:

• The continuing growth in SMSF establishment and reasons as to why it is accelerating;
• New data indicating that SMSFs are becoming the choice in superannuation as indicated by the increase in outflows from APRA-regulated funds;
• The impact of the LRBA ban on residential property and what it means in the big picture of Australia's housing crisis;
• The increasing role of technology and AI in the SMSF space;
• How APRA funds may respond to the increased uptake of SMSFs

Changes to the borrowing regulations for SMSFs have seen many trustees and advisers rethinking their investment strategies. In this special episode of the SMSF Adviser Show, host Olivia Grace-Curran speaks with Richard Chesworth from Bluestone Home Loans about what the changes mean for SMSFs, and opportunities that now exist in the market for SMSFs still looking towards property as a wealth building vehicle.

In this special edition of the SMSF Adviser Show podcast Olivia Grace-Curran and Richard Chesworth, Head of Specialised Distribution at Bluestone Home Loans, discuss the recent regulatory developments in property investment, including changes affecting residential property borrowing through limited recourse borrowing arrangements.

The changes have raised questions for trustees and advisers about the future of SMSF property investment, where opportunities may now lie, and the role that specialist lenders will play going forward.

Listen as they discuss

• Where the industry now finds itself in regard to borrowing following the regulatory and tax changes
• The shift in how SMSFs now approach property investment
• Risks that may exist in the SMSF lending market following the changes
• What trustees and advisers need to understand about the current SMSF borrowing environment
• Opportunities that exist for SMSFs in commercial property investment
• The broader market impacts that could flow from reduced participation from SMSF investors
• The key differences between specialist SMSF lending and traditional residential lending

In this episode of the SMSF Adviser Show podcast, hosts Keeli Cambourne and Aaron Dunn, CEO of Smarter SMSF, are joined by Jo Hurley, Head of Technical at ASF Audits, to look into what is happening in the audit space. Following the SMSF Association Audit day and information from the ATO, this episode delves into the challenges now facing the SMSF audit sector in light of regulatory changes, and what to expect going forward.

Listen as they discuss

• Market valuations as their increasing importance
• Auditor education and expectations
• ATO compliance and focus
• AI and the challenges facing the sector

In this episode of the SMSF Adviser Show podcast hosts Keeli Cambourne and Aaron Dunn from Smarter SMSF, talk with Natasha Panagis, senior SMSF specialist for Heffron, to unpack the reforms announced last month in regard to SMSF trustee education, investment strategies and what it will mean for advisers going forward.

Listen as they discuss:

• Mandatory education for new SMSF trustees
• What it may look like and how it will be assessed
• Investment strategy documentation
• Challenges facing advisers and trustees moving forward

Advice reforms are at the top of the agenda as the sector tries to navigate the fallout of First Guardian and Shield. In this week's episode of the SMSF Adviser podcast, hosts Keeli Cambourne and Aaron Dunn from Smarter SMSF, consider what may be on the card following the announcement from Financial Service Minister, Daniel Mulino. Peter Crump from BDO joins the show to unpack the challenges and nuances of exiting an SMSF after family/business breakdown, or incapacity.

Listen as they discuss

• The importance of addressing exit strategies
• Family dynamics and pressures in estate planning
• Succession planning for business partnerships and SMSFs
• How life experience in advice plays a vital role

In this special episode of the SMSF Adviser Show podcast hosts Keeli Cambourne and Aaron Dunn, CEO of Smarter SMSF, talk with Peter Burgess, CEO of the SMSF Association following his keynote address at the SMSF Association Technical Summit 2026 in Sydney. Listen as they discuss

• The changes and ramifications of the legislative changes in the past 12 months
• The challenges the industry has overcome
• The current state of play for the sector
• Advocacy work done and being done
• What the future state of play may look like

The Division 296 legislation came into force on 1 July 2026 and trustees are now contemplating strategies, or have already put things in place, to ensure they are getting the best out of their funds. In this episode of the SMSF Adviser Show hosts Keeli Cambourne and Aaron Dunn from Smarter SMSF speak with Liam Shorte, director of SONAS Wealth, about what he has seen as an adviser, what challenges he and his clients are facing and what strategies can be put in place.

Listen as the discuss:

• What trustees are doing now
• Strategies that can be considered now
• Estate planning issues
• Looking beyond the numbers and the mental health of trustees

It may be the start of a new financial year but it's never too early to start planning how an SMSF pays its pensions. In this episode of the SMSF Adviser Show, hosts Keeli Cambourne and Aaron Dunn from Smarter SMSF are joined by audit expert Shelley Banton from Super Clarity to discuss the importance of compliance in paying minimum pensions and how the 1/12 rule is still very important.

Listen as they discuss:

• Why the 1/12 rule still matters
• ATO scrutiny in minimum pension payments
• The importance of documentation and planning
• What advisers should do now to avoid any issues