The Property Investment Professionals of Australia (PIPA) has called for regulation to deal with ambiguity surrounding property investment advice for self-managed superannuation fund (SMSF) trustees.
“Our observation is that financial planners, accountants and mortgage brokers remain uncertain about who can recommend a property for investment within a SMSF,” said PIPA chair Ben Kingsley.
“With SMSFs attracting a growing number of Australians, many of which are looking to invest in property, the lack of appropriate regulation is putting the retirements of millions of Australians at risk,” he said.
“Once again we are calling on [the Australian Securities and Investments Commission] and the federal government to get up and take action and regulate property investment.”
In the absence of adequate regulation, Kingsley said retail investors are best off seeking advice from a PIPA-accredited quality property investment adviser (QPIA).
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 21 Aug 2016Risks flagged with real estate appraisal valuesBy Miranda Brownlee
- 21 Aug 2016Lawyer challenges ATO view on two fund strategiesBy Miranda Brownlee
- 18 Aug 2017ATO locks in details, addresses panic on real-time reportingBy Katarina Taurian
- 18 Aug 2017Data feeds unreliable for new reporting, says mid-tierBy Miranda Brownlee
- 18 Aug 2017Tax component confusion spurs potential tax liabilitiesBy Miranda Brownlee
- 18 Aug 2017Contributions triple in June quarter, survey showsBy Staff Reporter
- view all
- ATO locks in details, addresses panic on real-time reporting
The tax office has addressed several points of confusion with the new events-based reporting regime, locked in key deadlines, and outlined w...read more
- Data feeds unreliable for new reporting, says mid-tier
With an estimated 20 per cent of SMSFs still encountering errors from data feeds, one mid-tier firm believes the ATO should allow SMSF pract...read more
- view all