New SMSF industry body launches

The SMSF Innovation Council has launched to provide the SMSF sector with education, advocacy and a best-practice framework to help navigate the digital assets landscape.

Chaired by Kate Cooper, the initiative is focused on collaborating and sharing knowledge to help trustees and professionals explore investing in the digital economy in a responsible and compliant way.

A former NAB and Westpac executive, Cooper is currently the chief executive of cryptocurrency platform OKX Australia, a role she assumed in early 2025.

The council, which comprises 12 experts in the fields of accounting, auditing, SMSFs and fintech, held its first sitting at the Digital Economy Conference this week.

The SMSF Innovation Council also includes ASF Audits head of technical Shelley Banton, BGL Corporate Solutions general manager of product Jeevan Tokhi, Saul SMSF chief executive and managing director David Saul, and PKF Melbourne partner Shane Mays.

They are joined by Shane Brunette, Crypto Tax Calculator's founder and chief executive, and Michael Jeffriess, the group chief executive of LightYear Docs, We Love Group and Naked Accounting.

Cooper said: "The mission of the council is to create opportunities for technology development, knowledge-sharing and public-private consultation needed to incorporate aspects of the digital economy into diversified retirement portfolios, while ensuring trustees navigate digital economy opportunities with proper governance."

Banton commented that digital assets are now part of SMSF portfolios, but reporting and audit standards have not kept up.

"I joined the council to help shape practical frameworks that make crypto audit-ready, not audit-challenging," she said.

The Tech Council of Australia estimates that the digital assets sector could add up to $60 billion to Australia's GDP by 2030.

Brunette said: "We process thousands of SMSF crypto tax reports and see firsthand where users and professionals struggle. The council is a great opportunity to turn those pain points into smart, scalable solutions."