Class Blog

We share some of the key insights shaping our industry from the Class Annual Benchmark Report 2023 and explore what this means for the future of SMSFs in Australia.

There is so much noise around the benefits of AI, but what is it? Put simply Artificial intelligence (AI) involves using computers to do anything that traditionally requires human intelligence. So, why is it so important?

Self-managed super funds (SMSFs) have long played a pivotal role in the business models of key accounting firms. However, changes in superannuation policy around contribution caps and the introduction of the transfer balance cap have motivated accountants and advisers to provide investors with the next best alternative for tax effective wealth management.

Investors often talk about running a self-managed superannuation fund (SMSF) being difficult or risky. This is probably because trustees of SMSFs are ultimately responsible for complying with all the rules, many of which they don’t understand in detail. That sounds risky!

The end of the financial year means wrapping up 12 months of activity for clients, lodging records with the Australian Taxation Office and finalising accounts. It is a time when every client needs attention and accounting practices’ resources are stretched. This is why more and more accounting processes are relying on automation to reduce manual work and streamline processes.

To say that the issue of franking credits – or, more accurately, the Labor Party’s proposal to cancel cash refunds for excess dividend…

The arrival of the new transfer balance account report (TBAR) for self managed superannuation funds (SMSFs) is creating major headaches for…

If you’re an accountant managing self managed super funds (SMSFs), you’ll know that the work involved has been increasing every year….

The following content has been created and supplied by DBA Lawyers, a Partner of Class. While there are a large number of cryptocurrencies…

Part 3 of 3: Brokers vs Share Registries

Part 2 of 3: Why ASAE 3402 Assurance Matters

Part 1 of 3: Back to Basics

Strong growth in SMSFs and the rapid development of technology make the sector an attractive opportunity for accountants wanting to grow…

There are many myths held regarding what happens to an individual’s self managed superannuation fund (‘SMSF’) when they pass away.

Accounting firm Perks is a longstanding member of the South Australian business community, approaching 30 years old. But a look inside the…

SMSF trustees hold, on average, as much wealth outside their SMSF as inside, not including the family home.

Elon Musk is known these days for many ideas, from ubiquitous electric cars and solar roofs to spaceships to Mars and winding…

The adoption of cloud technology for SMSF administration is not just a good idea, it is increasingly becoming essential and a critical…

The digitisation of the economy and the growth in the volume of data produced is phenomenal. IDC has predicted that between 2014 and 2020,…

Income protection insurance will provide a regular monthly income whilst unable to work due to sickness or accidents.

Property prices are a sensitive topic in Australia.

Class has introduced advanced filtering to allow SMSF accountants to identify and assist SMSFs impacted by the superannuation reforms.

Almost a third of accountants and administrators are considering moving their portfolio administration to a cloud software solution within…

As with all succession planning discussions, SMSF succession planning being no different, people…

The Department of Treasury on 27 September 2016 released the second tranche of exposure draft legislation and explanatory material in relation to the Federal Government’s proposed superannuation reforms.

Last month Class Super received ASAE 3402 assurance for its data feed system.

When you consider the fact that depreciation can be a huge deduction for a property investor, it is odd that many people fail to claim it.

All newly acquired investments by SMSF trustees in collectables and personal use assets since 1 July 2011 have been subject to strict rules under reg 13.18AA of theSuperannuation Industry (Supervision) Regulations 1994 (Cth) (‘SISR’).

Investors are rediscovering the importance of diversification to balance investment risks and take advantage of strong international growth…