Tax Agent
If you are a user of the SMSF Incubator solution, your business must act as the tax agent. Superfund Wholesale can only act as a tax agent where we are also undertaking administrative work on your behalf.
We recommend that you lodge all SMSF annual returns and BAS/IAS via Class Super. Although there is the ability to export / import or manually re-enter SMSF annual return information into other software programs for lodgement, we strongly advice against this as you will loose a significant amount of time and efficiency that Class provides.
Where your business will be lodging tax returns via ELS in other software programs such as MYOB, HandiTax, Xero etc, it is highly recommended that you establish a Sub-Branch Number and register separate ELS credentials that will be stored and updated in Class.
Class has put together a comprehensive article in their User Guide here which you need to read:
Setting up a Tax Agent or Sub Branch Number
If you decide not to follow the above instructions, you will need to manually update your ELS password every time it is updated. Juggling these credentials is difficult and not recommended.
It can take up to 6 weeks for the Tax Practitioners Board to issue the new branch number, and another few weeks for the ATO to issue the ELS credentials - so we recommend you get this process started immediately!
If your business will only be lodging SMSF returns via Class, then you can store your single set of default ELS credentials in Class.
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