What's New - April 2021
What's new & updated on the Smarter SMSF platform
- You can now create a market valuation trustee minute for real property held by the fund, which evidences the supporting documents utilised to obtain the market value in accordance with SISR 8.02B. As part of this documentation, you can also create a declaration of use for the real property which is being commonly requested by fund auditors. You can view the sample document here.
- We have fixed an merge field issue within the company constitution-only order form.
- A fix has been made with lump sum order form within Simple Fund 360 that was not passing via API to process the document.
- We have updated a CPD assessment question within Module 4 of the SMSF foundations course
- Multi-factor authentication (2FA) is now available for the Smarter SMSF platform, but won't be compulsory for users until development has concluded with our parent/child functionality for ordering of documents. You can read the article here about how to setup 2FA access
- We have fixed the the 'change plan' button under the Member Account when a member wishes to change their existing their subscription (e.g. upgrade or downgrade).
Smart things we are currently working on
- Work continues by the team on being able to make payment via a stored credit card for many of our most popular documents. This feature will be available for members (for company registration orders) and for non-members who wish to save time in the ordering process by simply applying the card stored against your user profile. Refer to our previous article on how to add or update credit details on the platform.
- A new Change of Trustee order form is currently being added that will provide for a number of changes in a fund's trustee structure, including:
- Individuals to corporate trustee
- Corporate trustee to individual trustees
- Company to Company
- Replacing individual trustees
- Appointing a new individual trustee only
- Removing an individual trustee only
A separate order form and documents are available to order a deed for the change of trustee - death of a member.
- Work had previously commenced on a new SMSF and trustee company order form, which ultimately stalled during COVID-19 due to various other projects. The team is now moving back onto this task to finalise in the coming months and will also include the ability to request binding or standard death benefit nominations, along with access to an SMSF compliance pack - includes trustee minutes for making initial rollovers, contributions, etc.
- Module 7 of the SMSF foundations course is expected to be released towards the end of April 2021. This module, SMSF Estate Planning, is 2.5 CPD hours, which will take the total course to a total of 21 CPD hours. In early May, we expect to have the module added onto the BGL Learning Channel, within the TOA Academy and available with Momentum Media (i.e. SMSF Adviser, Accountants Daily).