Specialist SMSF service providers Bendzulla Actuarial and Class Super have jointly improved the process of obtaining actuarial information through greater automation.
The two parties have enabled users of the Class platform to receive the tax-exempt portion of income derived from superannuation assets for the actuarial certificate automatically. In addition, the actuarial certificate is automatically stored on the Class Super system, improving customer access.
Prior to this new level of automation, clients would have to wait until they received the actuarial certificate and then manually enter the tax-exempt information into the Class system.
“The release of the automatic tax-exempt percentage functionality provides Bendzulla and Class users with the benefit of a more integrated system, which will result in efficiency gains and increased levels of accuracy by less manual entry being required,” Bendzulla Actuarial chief executive Tracy Williams said.
According to Class Super chief executive Rajarshi Ray, the move would provide productivity improvements for their clients.
“This expansion on the integration between Class Super and Bendzulla means Class users benefit further from overall automation in SMSF administration. This is an important feature for our users, saving clients’ time and improving business productivity,” Ray said.
“Class is now instantly updated with actuarial certificate details which are automatically stored on the system for easy audit reference. In just one click you can request an actuarial certificate, calculate exempt current pension income and be ready for online lodgement through Class.”
The functionality went live today.