POWERED BY MOMENTUM MEDIA
KPMG selects Class for SMSF provisions
KPMG is entering a partnership agreement with self-managed superannuation funds (SMSF) software provider Class, looking to leverage new potential for business growth in its SMSF administration and business advisory group.
The agreement would see the use of Class Super for KPMG’s SMSF admin business, whilst the Class Portfolio offering would be utilised by the accounting firm’s business advisory group.
Class chief executive Kevin Bungard said KPMG’s selection of the providers software would assist in the firm meeting the new transfer balance account report (TBAR) provisions.
“Accountants still using desktop software or manual methods need to put in place a system to enable them to cope with TBAR,” he said.
“An automated solution to SMSF administration is no longer a nice-to-have, it has become a necessity.”
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.78 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
30.80 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
28.31 3 y p.a(%)
