News : Administration

Administration

Class completes NowInfinity integration early

Class NowInfinity integration

The integration of documentation service provider NowInfinity into the organisational structure of Class is now complete.

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Administration, Platforms

Lockdown has propelled technology change

lockdown technology SMSF Class

The COVID-19 lockdown and rush to work from home has pushed forward the use of technology in the SMSF sector by up to 10 years.

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Administration

SMSFA seeking member input on SAR review

SMSFA annual return review

The SMSF Association has called on members to provide input on how the SMSF annual return (SAR) can be improved.

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Administration, Business News

SuperConcepts reports ongoing outflows

SuperConcepts outflows

SuperConcepts has reported an ongoing decline in assets under management in the first quarter of 2020, continuing a trend seen across 2019.

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Administration, Compliance

Funds must justify rent relief for tenants

SMSF Rent relief

Trustees must provide commercial justification on behalf of their fund for any rent relief arrangements with tenants unable to pay rent because of the COVID-19 pandemic, an SMSF technical expert says.

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Administration

Coronavirus must be noted in 2019 accounts

SMSF accounts covid-19

The impact of COVID-19 on fund asset values means funds that have not yet completed their accounts for the 2019 financial year are legally obliged to disclose the pandemic as a significant event in their 2019 accounts, an SMSF technical expert says.

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Administration, Superannuation

Govt introduces super, pension relief measures

superannuation pension relief

The federal government has announced it will allow early access to superannuation for people under financial stress as a result of COVID-19.

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Accounting, Administration

Accountants’ focus should not be admin

SMSF administration

Providing the SMSF administration function should no longer be a focus for accountants, a senior sector executive has said.

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Administration, Business News

Heffron unveils new online SMSF tools

Heffron online SMSF

Heffron has launched two new resources to help SMSF practitioners better serve their clients.

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Administration, ATO

ATO wind-up advice unworkable

SMSF wind-ups

The guidance the ATO released for SMSF trustees regarding fund wind-ups has been described as unworkable from an audit perspective by a leading sector practitioner.

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