Reform aims to cut costs and simplify SMSFs Trustees frustrated by excessive paperwork and expensive advice frameworks will be watching two government initiatives with great interest. Share There is growing momentum for financial services reform that could see the cost of administering a self-managed super fund fall, with federal Treasury and the Australian Securities and Investments Commission issuing independent consultation papers that could cut red tape and complexity. Treasury has called for submissions to its consultation paper, Modernising Business Communications, which has the goal of “cutting business costs (including superannuation) and better reflecting the way Australians want to engage and communicate digitally”.