When you are the trustee of your own self-managed superannuation fund (SMSF), a letter from the tax office raising the possibility of a breach of rules and the potential of thousands of dollars in fines understandably gets your attention.

So it was not surprising that when some SMSF trustees and their accountants started receiving letters  this month about the potential for fines for failing the diversification requirements within their fund’s investment portfolio, it sparked considerable public commentary.