The 2022 compliance update was released over the weekend for both versions of SuperMate and features a number of important compliance updates.
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 allowing a choice of calculation method for Exempt Current Pension Income (ECPI) are also now accommodated for.
SuperMate chief technology officer Andy Forbes said whilst a lot of the focus is on the latest version of SuperMate, released earlier this year, SuperConcepts is still committed to improvements to SuperMate Classic.
“For example, with this compliance release we’re adding foreign asset prices into SuperMate Classic,” said Mr Forbes.
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.
“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,” said Mr Forbes.
