Investment adviser and fund manager Stockspot has announced an integration with SMSF software provider Class, aimed at enabling income processing and investment tax reporting.
The integration will provide SMSF accountants and their clients with a direct data connection from Stockspot to Class.
Accountants will be able to receive a daily data feed that includes their client’s Stockspot portfolio investments, capital gains, dividend statements and franking credits, Stockspot said in a statement.
The integration will also automatically generate tax summary statements, cutting down on hours of administration and analysis of taxation data.
Stockspot founder and chief executive Chris Brycki said he expects SMSFs will be one of its largest growth areas in the next 12 to 18 months.
“Managing tax administration can be complex and very time-consuming for SMSF accountants,” Mr Brycki said.
“The automated feed from Stockspot to Class Super will save accountants hours of analysis and administration work at tax time for their SMSF clients using Stockspot.”
Class chief executive Kevin Bungard said robo-advice is one of the fastest growing areas of retail investment “with total assets managed by robo-advisers pegged to grow to US$2 trillion by 2020”.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 17 Aug 2017Industry questions ATO’s capacity for new reportingBy Miranda Brownlee
- 17 Aug 2017Qld succession law changes tipped to impact SMSFsBy Miranda Brownlee
- 16 Aug 2017Contribution limits restricting future balances, warns mid-tierBy Staff Reporter
- 16 Aug 2017SMSF firms underprepared for events-based reportingBy Miranda Brownlee
- 15 Aug 2017SMSF auditor disqualified for misconductBy Staff Reporter
- 15 Aug 2017Class gains market share in financial year resultsBy Staff Reporter
- view all
- Industry questions ATO’s capacity for new reporting
With events-based reporting set to generate huge amounts of data, concerns have been raised about whether the ATO’s systems will be able t...read more
- Contribution limits restricting future balances, warns mid-tier
Clients hoping to accumulate a superannuation balance of $1.6 million by age 65 will need to start taking full advantage of concessional con...read more
- SMSF firms underprepared for events-based reporting
A straw poll has revealed that the majority of SMSF firms currently feel their firm is not equipped to deal with the proposed events-based r...read more
- view all