Another area where it is difficult to access information for clients is lost super.

Keep It Simple Super director Julie Taylor said that her firm used to check lost super as part of the onboarding process through the super seeker tool, but this has now all been moved to MyGov.

Ms Taylor said that it is difficult to know what clients have out there and there may be lost super amounts that will be included in the calculation of their total superannuation balance.

With the information now on MyGov, information can only be accessed by the client logging into their account and downloading the information.

“I just don’t think everyone is engaged with MyGov. When we’re talking to advisers, often their client won’t have MyGov and then they’ve got to run through the process of getting them on there.”

Ms Taylor said that it would be far easier if the ATO had this information on their systems so that every professional dealing with the fund is able to access that data.

“We’re relying on the client to know what they’re doing with the MyGov account, and realistically not all clients have computers. There are a large proportion of SMSF clients that are older and they have to go to the library to hook up to their MyGov account,” she said.

“[Due to] the practicalities of it, I think it’s definitely far better if the parties that they’re dealing with can look after all of that instead of the poor old client having to go and look for it.”