It can be tempting to stick to what you know and avoid change. However, transfer balance account reporting (TBAR), and the new ECPI requirements mean the move away from annual processing is no longer just an option, but instead a necessity to effectively manage SMSF compliance.
Processing funds periodically throughout the year is the only way to achieve an up-to-date view of an SMSFs financial position, and easily identify which funds have incurred TBAR and ECPI obligations.
Regular fund processing is also an enabler to achieve practice growth and improve client experiences.
Our on-demand webinar will show you how more regular fund processing can support:
