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Class adds advanced filtering feature

Class has introduced improvements to its data filtering capability in order to allow SMSF accountants to quickly identify and assist SMSFs affected by the latest superannuation changes.

The enhancement comes as accountants face the challenge of the biggest changes to super in more than a decade, as well as a looming deadline of 1 July to comply with the new laws.

Filtering enables Class users to identify funds and members at key balance thresholds, those with transition-to-retirement income streams and fund members in relevant age brackets.

The improvements also highlight Class as the only cloud SMSF administration software that properly handles funds with segregated assets for the payment of pensions.

Further to this, Class users can now easily identify which of the funds they administer are using the segregation method and those that may want to take advantage of capital gains tax relief offered under the reforms.

It is also possible to combine filters to achieve even deeper data analysis.

For example, users can easily create a list of funds that have a pension balance over $1.6 million, have segregated assets and have members who are close to retirement age.

Class chief executive Kevin Bungard said the improvements to Class were part of an ongoing program to assist accountants and administrators to implement strategies around the super changes.

“The reforms are the biggest changes since 2007 and now is the time to reach out to your clients and ensure that they are informed and have a plan of action,” Bungard said.

“Class will continue to roll out new features and functionality to enable our users to efficiently address the changes and achieve the best outcomes for their clients.”

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