SMSF offshoring issues to worsen amid COVID-19
SMSF service providers engaging in offshore outsourcing are facing greater supervision and control challenges as the COVID-19 pandemic wreaks havoc on client data security and fails to provide local jobs, warns an administration expert.
A 2017 survey found that an overwhelming proportion of SMSF trustees have noted their discomfort with their personal financial records being processed and stored offshore.
Read more at SMSF Adviser.
