Currently, the portal is designed to capture personal finances and it does not have the capability to handle the additional complexity associated with various ownership structures. As a result, there is no specific feature to separate expenses for SMSF properties at the moment. This means that people who are directors of companies etc. where the company owns properties or other assets, do not record those assets owned by a separate entity within the portal, but rather only include the drawings or salaries taken from the company within the portal as amounts affecting their individual personal finance.
This also means that SMSFs, which are separate, complex entities with their own sets of rules and regulations, must also be treated separately. This would be recorded as the balance sheet position (total equity position) of your ownership of the SMSF within the ‘Superannuation’ section of the portal under ‘Other Assets’, as opposed to separately recording the assets and liabilities of the SMSF within the portal, as this would incorrectly represent the total personal finance position. Unfortunately, this also means that the platform cannot currently track cash flow & expenses directly related to the SMSF.
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