Cloud-based specialist SMSF document provider NowInfinity will be enhancing its compliance support for advisers with a new service to be launched in March.
The new application, called SuperComply, will offer two tiers for practitioners in assisting them with ensuring their clients’ SMSFs are compliant in general and in particular with the changes to the superannuation framework to be introduced on 1 July.
“There are two components to SuperComply – there’s SuperComply and SuperComply Advantage,” NowInfinity founder and chief executive Amreeta Abbott said at a member briefing in Sydney today.
“SuperComply will be your online portal for everything SMSF. It will show [who are the] members, it will show all the documentation that supports that SMSF, and you’ll be able to upload documents,” Abbott noted.
“Then we’ve got the SuperComply Advantage. What do we know about SMSFs? We know that we’ve got some pretty big things to do before 1 July.
“So SuperComply Advantage is actually your compliance indicator. It’s going to [allow you to] look for those funds that are over $1.6 million, those that have segregated and unsegregated assets, those that will have to make a CGT (capital gains tax) election, and will actually work you through that.
“It will show the whole workflows and the documentation that supports it.”
She added NowInfinity was currently working closely with Class to ensure the compliance indicators could be recognised so advisers could communicate with their clients to rectify any errors present.
SuperComply represents one element of NowInfinity’s Entity Manage Suite, which also includes the Corporate Messenger and Trust Register services.