Boutique adviser Tim Mackay of Quantum Financial has called on the government to maintain the relatively low levels of regulatory change to the SMSF regime seen in 2014.
Mr Mackay – the recipient of the ifa Excellence Awards SMSF Adviser of the Year and a finalist for Thought Leader of the Year – said maintaining the stability of the SMSF system should be a top priority in the year ahead.“2014 has been the first year in ages where we’ve had that certainty from government that there wouldn’t be any untoward changes,” he said in an interview with ifa sister title SMSF Adviser.“The system [is] working quite well now, there are some things that we’ve tightened up such as excess contributions, there are still potentially some elements that need tidying up but by and large if we can keep the stability of the system so that investors can make informed decisions, that will make the system stronger.“The fewer changes we can make, the better for the system, and the better for investors.”Superannuation requires making long-term decisions, he said, meaning that regulatory change can be very disruptive.
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