Release Notes - July 2026

These release notes complement the Webinar titled 'Smarter SMSF Update July 2026'. There have been significant regulatory changes as of 1 July 2026, AML/CTF compliance obligations, platform integration, document updates, new tools, coming-soon features, CPD & education updates, and subscription pricing changes.

1. Changes from 1 July 2026 

Aaron Dunn described July 2026 as ‘a little bit busier than previous years’ — with Division 296 tax, payday super changes, and the AML/CTF laws all taking effect simultaneously. The team undertook a significant body of work to implement all changes before 1 July.

1.1 Smarter SMSF Deed — New Version Released

A new version of the Smarter SMSF deed has been released incorporating all legislative changes effective 1 July 2026. PDSs and all ancillary documents have also been updated to support the deed changes. Full details are available in the change log on the Knowledge Base.

Deed additions and amendments

• Division 296 tax — Rules 2, 14, 18, 21 and 31. Specific changes required to deal with fund earnings, release authorities, and how the tax operates at both fund and member level
• AML/CTF laws — Rules 2, 3, 6, 14, 15 and 31. A new trustee duty has been added requiring trustees to provide any information or documents required under AML/CTF laws when requested by an SMSF professional
• Public Trustee appointments & remuneration (s.17A(3) & 17B(1) and (2)) — Rules 2, 14 and 31. The revised s.17A definition is now law, allowing a public trustee to be appointed in the event of death or disability, and to be remunerated in those circumstances under s.17B
• Compensation payments & residual amounts — Rules 15, 18, 28 and 31. Refinements to cover AFCA claims and post-wind-up situations where beneficiaries need to remedy against poor advice received
• QROPS deed - above changes, plus:
• NMPA transitional regulations — Rule 3, 15.2(hh), 25.10 and 31. Since 7 April 2026, transitional regulations are in place covering the normal minimum pension age rising from 55 to 57 (effective 6 April 2028). HMRC is now requiring QROPS deeds to capture these transitional regulations for new funds and is requesting deed copies for further transfers from existing funds.

📌 SMSF Deed Change log: smarter-smsf.helpscoutdocs.com/article/220-change-log-smsf-trust-deed 

📌 Fund establishment updates: smarter-smsf.helpscoutdocs.com/article/164-fund-establishment

1.2 Company Constitution — Updated

Similar changes have been made to both the standard company constitution and the special purpose company constitution, covering AML/CTF laws, Public Trustee appointments, and dealing with Compensation Payments post wind-up.

1.3 Other 1 July 2026 Changes

• ASIC fee increase — Company Incorporations. The ASIC fee increased by approximately $25 (from $611 to $636). With the API fee increase via InfoTrack and the addition of AML/CTF processing costs, the total company incorporation fee on the platform is now $701 (subscription price; PAYG includes the document fee on top). 
  • 📌 See: smarter-smsf.helpscoutdocs.com/article/235-asic-fees
• LRBA Loan Facility Agreement — Safe Harbour rate increased to 9.35% (up 0.5%). The platform’s LRBA Loan Repayment Calculator has been updated to reflect this rate
• PDS changes — updated for both deeds and pension commencement documents (a PDS is ordinarily required when commencing a pension)

1.4 Do I Need to Update My SMSF Deed?

Aaron’s guidance on which clients should prioritise a deed update:

• Division 296-impacted clients — whether currently in scope or potentially becoming in scope via a reversionary pension. The deed changes govern how release authorities apply, how earnings are dealt with, and other operational requirements under the new tax
• QROPS funds with further transfers pending — HMRC is essentially mandating deed updates to capture the NMPA transitional regulations
• Clients who haven’t updated since approximately 2017 — a key consideration is whether the deed allows for electronic signing. Smarter SMSF has included technologically neutral signing provisions for 2–3 years, covering wet ink or electronic approaches. Without this, trustee decisions, pension commencements, and other actions governed by the deed rules may not support e-signing.

2.1 Overview — What Has Changed and Why

Smarter SMSF is registered with AUSTRAC as a Reporting Entity and provides designated services under the AML/CTF laws. Two items apply:

• Item 6. — Trust & company formation services (fund establishments, LRBA setups, unit trusts, company incorporations — approximately 8 document types on the platform)
• Item 7. — Acting on client instructions to prepare documents to appoint trustees to the SMSF (change of trustee, LRBA loan facility agreements)

For all these designated service documents, Smarter SMSF must be satisfied that Customer Due Diligence (CDD) has been conducted on all directors, trustees, and anyone with beneficial ownership of 25% or more. The key decision for each firm is who performs that CDD — and whether Smarter SMSF can rely on work already done by the ordering firm.

📚 IPA Technical Resource — AML/CTF Tranche 2: Do you need to comply? publicaccountants.org.au/media/u5feee4d/march2026_tr_amlct_f3.pdf

2.2 The Two Pathways — CDD Decision

The central question for every firm ordering designated service documents through Smarter SMSF is: 

     "Does the firm hold its own AUSTRAC-registered AML/CTF program?"

⚠️ Important: If full CDD is required, the document order is placed ‘on hold’ until all KYC checks are completed. Aaron noted that clients may delay completing the VerifiMe check, so practitioners need to set expectations about timing with clients upfront.

2.3 Reliance Membership — How to Apply (3 Steps)

Step 1: Application (5-step form on the platform)

Accessible via the App Switcher → Admin Console → Reliance Dashboard. Active document subscribers: included at no additional cost (Smarter SMSF absorbs KYB/KYC fees). PAYG users: can apply but KYB/KYC fees are charged separately.

1. Eligibility — confirm subscription type
2. AUSTRAC Details — firm legal name (must match ASIC/AUSTRAC exactly), ABN, AUSTRAC REN, registered address, AML/CTF compliance notices email
3. AML/CTF Compliance — confirm Compliance Officer details; confirm the firm maintains an AML/CTF program complying with the AML/CTF Act 2006 (Cth) and AML/CTF Rules 2025; confirm ongoing staff training, use of a third-party AML verification provider, and adequate record recovery systems; confirm how AML/CTF records are stored (practice                management system, cloud storage, or third-party verification platform)
4. Authorised Person — provide details of the director/principal/authorised officer to execute the Reliance Agreement (name, mobile for VerifiMe KYB, BoxSign email). Declare all beneficial owners with 25%+ ownership. Provide verification consent
5. Review & Submit — if any details need correcting after submission, contact Smarter SMSF to fix in the back end.

For details on how to complete the Reliance Membership application, please refer to our AML/CTF laws section in the knowledge base:

📌 How to Complete the Reliance Membership Application Form

Step 2: KYC/KYB Verification via VerifiMe

Once the application is approved (usually within 2 business days), Smarter SMSF triggers KYB (Know Your Business) and KYC (Know Your Customer) checks on the firm and its authorised parties. Each person listed receives an invitation link (or QR code) to complete identity verification via VerifiMe.

• Individuals create a VerifiMe ‘wallet’ — this wallet can be reused across multiple engagements over a 12-month period
• The same VerifiMe process is used for practitioner KYC (Reliance onboarding) and end-client KYC (Full CDD orders)
• Smarter SMSF receives a Risk Assessment (low/medium/high) plus PEP & sanctions check for each individual
• Low/Medium Risk — moves forward; High Risk — subject to further assessment

📌  Inviting Principals for KYC Verification (and How KYB Follows)

💬 “The VerifiMe wallet is reusable — that is one of the key reasons we chose VerifiMe as a partner.” — Aaron Dunn

Step 3: Signing the CDD Reliance Agreement

Once KYB/KYC verification is complete, Smarter SMSF prepares a CDD Reliance Agreement under s.37A of the AML/CTF Act 2006 (Cth). The agreement is sent electronically via BoxSign to the authorised signatory for execution.

• Once signed and stored securely, membership is activated
• The executed agreement is accessible via the Reliance Dashboard with a direct download link
• Under s.37B, Smarter SMSF may conduct annual assessments of all Reliance Agreements — members will be contacted 60 days before review date

📌 Signing the Reliance Agreement

Once Membership is Activated

• All team members under the subscription receive tags recognising Reliance Membership is in place

• Individual staff are not required to complete KYC/KYB checks (unless they are a director, beneficial owner with 25%+ holding, or similar)

• The ordering process is conditionally altered: practitioners make a per-order declaration that KYC has been completed for all relevant parties, and documents are released immediately

2.4  New Member Onboarding — Rebuilt Sign-Up Process

The sign-up process for both PAYG and subscription members has been rebuilt to incorporate AML/CTF compliance steps. Where a new registrant’s intended document use does not include designated services (e.g. CPD only, pension documents, investment strategies), the process is fast-tracked.

• Account details
• Use of platform
• Intended documents to order (fast-tracked if no designated services)
• Compliance requirements
• Own AML/CTF Program
• Ability to create Reliance Membership → Registration activated

2.5  Documents Requiring Verification (Designated Services)

2.6  Documents With No Change (Not Designated Services)

2.7 Order Form Changes in Practice

With Reliance

• No change in order delivery — process looks very similar to current ordering
• A new declaration appears conditionally on designated service order forms: practitioner confirms full KYC (not concession-only) has been completed for all trustees/directors and declares this under the Reliance Agreement
• Timestamp is recorded against the order for compliance purposes
• Even with Reliance in place, practitioners can choose to allow Smarter SMSF to undertake full CDD on the end client if the service is not a designated service for their own firm.

Without Reliance — Full CDD

• Order forms for designated services now require a unique email address for each director/trustee (cannot duplicate email addresses across individuals)
• Order is placed ‘on hold’ with an amber ‘KYC required’ status until all individuals complete VerifiMe verification
• Once all parties complete verification and are assessed as low or medium risk, a webhook automatically updates Smarter SMSF’s system and the document is released
• Clients are redirected to smartersmsf.com/verification-complete/ upon completion, explaining next steps
• Company orders: where additional shareholders exist beyond the directors, the order form captures ownership percentage — verification is only required for those with 25%+ ownership

Practitioner tip: For full CDD orders, set expectations with clients about the VerifiMe process before placing the order. Clients may delay completing the check — the document cannot be released until all parties are verified. Build this into your workflow and client communication.

3.1 Div 296 Tax Hub — Reminder

The Div 296 Tax Hub remains live at smartersmsf.com/div296-tax. Aaron noted strong member engagement with the FAQs, client letters, and calculators. The next addition will be the CGT election form and template.

• Free: FAQs & key references, Order forms
• Premium (CPD & document subscribers): Client & Adviser Resources (customisable Word templates), 9 x Fact sheets, Calculators & Tools (Estimator, CGT Election Tool)

Note: Non-members can purchase standalone Premium Access.

https://smartersmsf.com/div296-tax/

3.2 New Tools Suite — Calculators & Checklists

Smarter SMSF has built a dedicated suite of interactive online calculators and checklists on the platform, leveraging AI to develop tools that were previously paper-based or relied on third-party solutions. Integrations with BGL, Class, Simple Fund 360, and Supermate are available for data population.

Live now

• LRBA Loan Repayment Calculator — comprehensive related-party LRBA modelling under ATO 2016/6 with amortisation schedule, LVR earnings, and PDF/Excel export. Connected directly to the LRBA Loan Facility Agreement order form. Includes safe harbour rate tracking; save/import functionality for works-in-progress. Will be updated for the incoming BRP changes
• Unused Catch-Up Concessional Contributions (CC) Calculator — tracks available carry-forward unused CC cap amounts across rolling 5-year periods
• SMSF Tax Planning Checklist — pre-30 June planning guide covering contributions, pension strategy, tax timing, and year-end optimisation. Integrates with Class, Simple Fund 360, and SuperMate

Coming soon

• Future Service Deduction Calculator (death benefit lump sum payments to non-tax dependants)
• Annual Compliance Checklist
• LRBA Setup Checklist
• Death of a Member Checklist

Available as a product add-on for CPD members; included for document members; standalone Premium Access for non-members. Aaron flagged plans to expand further and welcomes member suggestions.

4.1 Key Projects — Status Update

4.2 New LRBA Rules — Document changes to be completed 

Further deed and document changes are required to reflect the new Business Real Property (BRP) rules taking effect 10 August 2026. These changes span four document types:

📌 An LRBA Masterclass webinar (2 September) will cover these changes in depth. Aaron noted the LRBA Loan Repayment Calculator will also be updated to incorporate the BRP changes.

4.3 Smartie AI — Subscription Tiers

Smartie AI pricing is based on ‘Ask Units’ (tokens/credits) rather than per-seat, consistent with how document subscriptions work. Pricing is expected to be confirmed at the next release.

Enterprise: Platform Fee (~$750/month) + Per Head variable rate (~$40–$45 per user) for 25–50+ staff.

5.1 Learning Library — New Sessions Added

The following sessions have been added to the CPD learning library since the April update:

• 2026-05 — SMSF Tax Planning
• 2026-05 — Federal Budget Impact on SMSFs
• 2026-05 — 10 Reasons Your SMSF Might Be Out of Date
• 2026-06 — Changing Face of SMSF
• 2026-06 — High Stakes of DBNs
• 2026-06 — Div 296 Tax Masterclass

Reminder: Members can earn CPD hours through webinar events, including product demonstration webinars for Smarter SMSF documents.

5.2 SMSF Advanced Course — Launching Early August 2026

Tim Miller has been building the SMSF Advanced course modules. Initial modules are expected to release in early August 2026, available as standalone completions before being packaged into a full Advanced course format.

• Division 296 tax module — approximately 5–6 CPD hours
• Advanced SMSF LRBA Compliance module — approximately 4–6 CPD hours. Content covers: the SMSF borrowing framework; LRBA rules, asset tests and property execution; related party loans and NALI management; strategy, tax, TBC/TSB modelling; refinancing and winding up LRBAs

📌 More detail on module release timing will be shared in the next Smarter SMSF newsletter.

• From 1 July 2026 — prices have increased for all new document and CPD subscriptions (both annual and monthly). New pricing is reflected on the website\
• From Sept/Oct 2026 — existing members will see an increase in both document and CPD subscriptions (annual & monthly). Members will be contacted in August 2026 with details

Why? Additional costs of the new document generation server, AML/CTF infrastructure changes, new features (including native digital signing), expanded document library, and increased CPD hours

Note: the new document generation server (New SMSF and Deed of Variation orders) has now been handed over/changed over, with native digital signing coming in the near term.