From www.accountantsdaily.com.au: The SMSF Association is urging the government to prioritise legislative amendments to clarify wholesale investor rules for SMSFs following recent Australian Financial Complaints Authority determinations that have created significant uncertainty in the industry.

Tracey Scotchbrook, head of policy and advocacy for the SMSFA, highlighted that a potential increase in the asset test for investors could force SMSFs to reclassify as retail clients, complicating their investment options and advising process amid a shortage of financial advisers.

Without legislative clarity, there is a risk of disrupting investment strategies and adversely impacting the broader capital markets.