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….

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

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

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

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.

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