The new financial year has just begun, but the road ahead is already looking busy for the SMSF industry. In this episode of the SMSF Adviser Show, hosts Aaron Dunn and Jotham Lian are joined by SMSF Association deputy CEO Peter Burgess as they take a closer look at the next 12 months in the industry. Peter talks about key agenda items for the SMSF Association, including federal budget measures that will see close consultation with the Treasury, as well as key issues that advisers should keep an eye out for in the immediate future. Peter also previews an upcoming project with the University of Adelaide on the investment performance of the sector, and a new project to help make it easier for people to get out of an SMSF when it is no longer suitable for them.

With 30 June fast approaching, we take a closer look at recent developments that could come into play in the new financial year and what they mean for SMSFs.

Host Aaron Dunn discusses the Treasury's long-awaited exposure draft documents on ECPI measures, as well as two bills set to be debated in the Senate this week — the six-member SMSF bill and the bring-forward rule bill for 65 and 66-year-olds.

Aaron also gives his top tips for SMSFs ahead of the end of the financial year.

In this week's special budget round-up, hosts Aaron Dunn and Jotham Lian take a closer look at all the measures affecting superannuation and SMSFs that are set to kick in from 1 July 2022.

The pair discuss the abolition of the work test for personal contributions, changes to legacy income streams, the relaxation of SMSF residency rules, new super measures addressing housing affordability, and the scrapping of the $450 superannuation threshold.

Aaron explains how these measures will affect SMSF practitioners and their clients, and also shares what he had hoped to see in the budget this year.

Proposed changes on how ECPI is to be determined within an SMSF are scheduled to start on 1 July, but with draft legislation yet to surface, what's next for this ongoing issue?

In this week's episode of The SMSF Adviser Show, Accurium general manager Doug McBirnie and head of education Mark Ellem join hosts Aaron Dunn and Jotham Lian to take a deep dive into the proposed changes.

Mark talks about the current state of play and whether we could see another deferral in the 11 May federal budget, while Doug shares some insights into Accurium's latest survey which sought practitioners' views about the proposed changes.

It's been three years since the government first announced a measure to increase the number of members allowed in an SMSF from four to six, and with the next quarter fast approaching, it is increasingly unlikely that we'll see it implemented in time for 1 July.

In this episode of the The SMSF Adviser Show, hosts Aaron Dunn and Jotham Lian are joined by SuperGuardian education manager Tim Miller to take a closer look at the six-member SMSF bill.

Tim gives a brief history of the measure, its tenuous links with craft beer, the positive strategies and negative impacts once it's implemented, and more.

Chartered Accountants Australia and New Zealand superannuation leader Tony Negline takes a closer look at the ATO's recent announcement on non-arm's length income and what it means for practitioners and trustees.

Tony tells hosts Aaron Dunn and Jotham Lian how the ATO's draft law companion ruling means that if an SMSF's affairs are not structured correctly, then, even for a minor expenditure, all the income of the super fund — ordinary and statutory income — could face income tax at the highest marginal tax rate.

He also shares his concerns with the legislation underpinning NALI and what he is ideally hoping for ahead of the ATO's finalised law companion ruling.

With the government focused on modernising business communications by improving the technology neutrality of Treasury portfolio laws, we take a took at how that will impact the SMSF sector.

Host Jotham Lian speaks to co-host and Smarter SMSF CEO Aaron Dunn to explore how changes to business communications, like written signature requirements and record-keeping requirements, will potentially change under the government's proposed principles.

Aaron also takes a look at the incoming director identification number regime and how that will impact corporate trustees in the near future.

SMSF Association deputy chief executive Peter Burgess dives into the recently concluded national conference to explore key themes and emerging trends from the virtual, two-day event.

Peter joins hosts Aaron Dunn and Jotham Lian to take a closer look at what the ATO will be focusing on in the SMSF sector this year, including its approach to new auditor independence guidelines and a new late lodgement compliance program.

He also reveals key attendee insights, his favourite session of the conference and his hopes for the national conference next year.

SMSF specialist Jemma Sanderson delves into what impact the scheduled increase in the general transfer balance cap will have on pensions and contributions for SMSF clients.

Jemma discusses with hosts Aaron Dunn and Miranda Brownlee some of the potential traps to be aware of where only part of the transfer balance cap has been used before 1 July this year and where clients have commuted pensions and started new ones.

She also explains some of the outcomes that may arise if the contribution caps also increase and how this will interact with different caps and thresholds.

With the Accounting Professional and Ethical Standards Board Limited (APESB) recently updating APES 305 Terms of Engagement, ASF Audits head of education Shelley Banton explains what the revised standard means for SMSF firms.

Shelley chats to hosts Aaron Dunn and Miranda Brownlee about what details SMSF professionals will need to include in their engagement letters once the revised standard applies in relation to outsourced services and cloud computing.

She also discusses the need for firms to establish policies and procedures designed to manage risk and put appropriate quality-control requirements in place.