Sydney, 19th March 2025 – Cloud-based accounting software provider Class has expanded its property compliance capabilities with enhancements that streamline valuations and title searches, improving efficiency and standardising processes for accountants and auditors.
Class has integrated with Australia’s leading property data providers – InfoTrack, CoreLogic, and PropTrack – to provide direct access to title searches, certificates, and automated property valuations, delivering accountants a comprehensive solution for property compliance to effectively support property assets held in SMSFs.
According to the Class Benchmark Report 2024, direct property accounts for 21% of Class SMSF assets, the second largest asset class by value after Australian listed shares. Additionally, almost one in three Class SMSFs (30.2% as at 30 June 2024) invest in direct property, with 63.6% of those invested in commercial property and 36.4% invested in residential property.
The Class property feature enhancements enable accountants to save on competitively priced title searches while also accessing historical valuations and nationwide reports that include sales comparisons and property dimensions, to deliver deeper insights for clients while also supporting auditors in their assessments.
The Australian Taxation Office (ATO) has previously issued audit guidance highlighting the importance of annual title searches to verify SMSF property ownership and to ensure that no charges (such as second mortgages or finance) exist over SMSF property assets.¹
Additionally, a recent court ruling found council rates notices, bank loan statements, and rental statements were not sufficient to prove property ownership and that a title search is the only definitive way to verify property ownership.²
The newly released enhancements include:
- Expanded property title searches and certificates – Class now integrates with InfoTrack to enable nationwide property title searches and certificates, providing financial professionals with a faster and more reliable way to verify property ownership.
- Automated residential property valuations – Class has expanded its valuation capabilities beyond CoreLogic to also integrate with PropTrack to offer residential property valuations, now enhanced with retrospective valuation capabilities, directly from the Class platform.
According to Class CEO Tim Steele, these capabilities enable productivity by reducing manual processes and delivering accountants real-time access to trusted property data.
“Given resource costs and constraints, our clients rightfully continue to demand more from their technology partners. Class is committed to delivering innovative cloud-based solutions that simplify workflows, enhance compliance and deliver greater value for financial professionals.”
These enhancements follow the release of direct registry connections to Australia’s largest share registries and an industry-first, directly sourced document feeds from major financial institutions.
For media inquiries contact:
Natalie Pennisi
P: 03 9275 7835
¹ Australian Taxation Office, 17 August 2023: Checking for charges over property assets
² SMSF Adviser, 17 February 2025: Court ruling reaffirms importance of title search
About Class
Class Pty Limited is a pioneer in cloud-based wealth accounting and is recognised as one of Australia’s most innovative technology companies, delivering trust accounting, portfolio management, legal documentation and corporate compliance solutions to financial professionals across Australia.
For further information, please visit https://www.class.com.au
About HUB24
HUB24 Limited is listed on the Australian Securities Exchange, and consists of the award-winning HUB24 platform, HUBconnect, Class and myprosperity.
The HUB24 platform offers advisers and their clients a comprehensive range of investment options, including market-leading managed portfolio solutions, and enhanced transaction and reporting functionality. As one of the fastest growing platforms in the market, the platform is recognised for providing choice and innovative product solutions that create value for advisers and their clients. HUBconnect focuses on leveraging data and technology to provide solutions to common challenges for stockbrokers, licensees and advisers and enable the delivery of professional advice to more Australians.
For further information, please visit www.HUB24.com.au
Disclaimer
The information contained in this document is provided by Class Pty Limited (ABN 70 116 802 058) and its subsidiaries (collectively, Class) and is current as at 19 March 2025. It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. This information is general in nature and may omit detail that could be significant to your particular circumstances. This information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. The information given in this document is in summary form and does not purport to be complete. While reasonable care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation and circumstances can change from time to time. Accordingly, neither Class nor any of its related bodies corporate make any representations or warranties as to the completeness or accuracy of the information in this document and none of these entities is liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions. Links to third-party websites are inserted for your convenience, but do not constitute endorsement of material on those sites or the relevant providers.
