SuperConcepts releases SuperMate compliance updates ahead of EOFY

SuperConcepts releases SuperMate compliance updates ahead of EOFY

Ahead of the new financial year, specialist SMSF administration software provider SuperConcepts rolled out important compliance updates to both versions of SuperMate over the weekend.

The 2022 compliance update is the first release for the new SuperMate and represents an important milestone for the newest SMSF administration software on the market.

“The team have done an amazing job with the new SuperMate, and the industry is responding – we have close to one hundred firms using it now, with the fund count in the thousands,” Chief Technology Officer Andy Forbes, revealed.

Along with the usual annual compliance updates, such as 2022 Tax Returns and threshold updates, SuperMate now reflects the changes to the work test and downsizer contribution requirements that come into effect on 1 July 2022.

The recent changes to actuarial certificate requirements, that allow a choice of calculation method for Exempt Current Pension Income (ECPI), is also now accommodated for.

“Whilst a lot of our focus is on the new SuperMate, we’re still committed to improvements to SuperMate Classic,” Forbes said.

“For example, with this compliance release we’re adding foreign asset prices into SuperMate Classic.”

SuperMate Classic clients will now have access to foreign asset prices across 28 stock exchanges ensuring foreign prices are converted to AUD using the Reserve Bank of Australia’s exchange rate as at date of conversion.

SuperMate is SuperConcepts’ newest SMSF administration software, in an all new web-based interface that leverages decades of experience and cutting-edge technology to make SMSF admin easier than ever.

SuperMate Classic is a desktop SMSF, SAF and Portfolio administration and compliance software known for its power and sharp pricing.