Automisation of the Australian business number (ABN) and tax file number (TFN) for the self-managed super fund (SMSF) application process will now be available to companies and trusts, after Topdocs extended their features to new sectors.
Topdocs director, Michael Spakman, said that the automation will save legal, financial, accounting and planning professionals thousands of hours per year, allowing them to focus on face-to-face client interaction.
“Every time a new SMSF, company, or trust is required to register with the ATO, someone has to manually enter this information online, which can be a time consuming process, taking up to 30 minutes depending on the person,” he said.
“By automating the population of the ABN and TFN online application, and proving this service free of charge to advisers, we are giving advisers back this time, enabling them to focus more on client facing work.”
