Bring forward rule

Simple Fund 360
#1

How do I trigger the 3 year bring forward rule?

#2

Hi @trilogy

This is automated for you, Simple Fund 360 will update your reports and dashboards based on the non-concessional contribution data that has been entered in your ledger.

#3

Hi Anthony,

I have entered the contribution, completed the period compliance. The contribution dashboard still shows $xxxx over cap. Am I missing something?

#4

Hi @trilogy

The entire bring forward rule is complex and may have many factors as to why it is showing over.

From 1 July 2017,
To be eligible for the bring forward arrangement:

  • member must be under 65 years of age for one day during the triggering year (the first year)
  • member must have a total superannuation balance (TSB) of less than the general TBC
  • member must make more than general NCC in the relevant FY
  • does not currently have a bring forward period

Checklist

  • Is it a Non-Concessional contribution - Check that the contribution was entered as Non-Concessional in the More Details Panel to Account 24200/MemberCode

  • What Financial Year was it triggered - if the contribution was entered in the 17-18 financial year you might need to factor in the Total Super Balance

  • Check the members DOB in the contacts list

Let me know how you go.

Thanks

Anthony

1 Like
#5

Hi Anthony,

Found the issue and all’s good.

Thanks

2 Likes