Heffron has rolled out the second stage of its Super Toolkit, which focuses on SMSFs with property investments and includes tools to help them meet auditor and ATO requirements related to COVID-19 rent relief measures.
The development of the next phase of the toolkit came in response to requests from SMSF advisers, accountants and trustees for assistance in meeting rent relief documentation and reporting measures, as well as a recognition of the estimated 54,000 SMSFs that have commercial property investments.
Heffron managing director Meg Heffron said: “Product development of our Super Toolkit is driven by the feedback we receive from our clients. After our launch we were inundated with requests to provide guidance to our clients that would help them meet legal requirements for their own SMSFs clients with commercial property investments. We are delighted to be able to bring this to market so quickly.”
The firm stated the rent relief tool stepped users through the ATO’s requirements for compliance relief and could help SMSF practitioners identify where rent relief may apply and why that relief should be given in different circumstances.
The new toolkit is available on a subscription basis for $22 per user per month and all users will be given access to new components as they are released.
“The launch of the Heffron Super Toolkit marks the future of our SMSF Document Services. We are fortunate to be agile and able to bring our expertise and practical experience to the market quickly at an affordable price. Co-creating our tools with our clients will continue to drive product development,” Heffron said.
The first stage of the toolkit was announced in March and launched in June, and covered SMSF investment strategies using a guided tool that helps subscribers to the service create an ATO-compliant strategy with documents that can be shared with clients as part of the process.