Legal documentation provider Topdocs has launched a new feature aimed at helping advisers and accountants to apply for an ABN and tax file number when establishing a new SMSF.
According to Topdocs, the Instant SMSF online application feature will provide "relief" for advisers and accountants from the "frustrating process" of applying for an ABN or tax file number for a new SMSF.
"As part of our new Instant SMSF online application, we have created a direct link with the Australian Business Register which automatically pre-populates the entire ABN application for advisers, free of charge, when they set up their SMSF establishments with Topdocs," Topdocs director Michael Spakman said.
"Users simply review the fully populated online application, [and] then submit it, without having to enter any client information."
Mr Spakman added that the new feature could save advisers more than an hour in set-up time when creating a new SMSF.
"We have turned the overall process of setting up the Fund, creating the CMA and applying for the ABN from a process that can take advisers up to an hour and a half to do, to a simple 10-15 minutes," he said.
Through the feature, advisers can register a corporate trustee for an SMSF, create a Macquarie or NAB Cash Management Account application, and have an investment strategy prepared for the fund using the online application form.
Topdocs said it will be demonstrating how the new application and ABN lodgement tool works during the FPA Professionals Congress in Brisbane later this month.
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