New Features April 22/04/2021

New Features

  1. TBAR Indexation: The general transfer balance cap is currently $1.6 million. From 1 July 2021, it will be indexed to $1.7 million. Simple Fund 360 will be the first cloud based SMSF administration solution helping you manage the new compliance requirements.

  2. New Feed: New Broker added to the Contract Notes Service - DP Wealth Advisory. To review a complete list of supported brokers Click Here.

  3. Entity Workflow / Download Excel: We have updated the Contribution and Pension details to the 2021 financial year.

  1. Reports: New Statement of Taxable Income Screen and a Statement of Taxable Income Report has been added for entity type Individual.

  2. Chart of Accounts: We have added three new equity accounts when the entity type is set to Individual:

    • Opening Balance (58070),
    • Drawings (58080) and;
    • Retained Earnings (58090).
  3. Chart of Accounts: Simple Invest users can now set up Liability Loan Accounts (Account 85660) for Trusts, Companies and Individuals.

  4. Reports: The following New Reports are now available for Individuals:

    • Notes to Financial Statements,
    • Compilation Report,
    • Tax Reconciliation Report and;
    • Proprietor’s Declaration.
  5. Property Dashboard: The new loan account (Account 85660) will now be supported from the property Dashboard.

  6. Reports: The Detailed Trial Balance Report is now available for Trust, Companies and Individual type entities.


  1. Member List: The Members List will now display the Tax-Free (%) figure for Accumulation accounts.

  2. Transaction List: The calculation of Franking Credits has been updated to calculate based on the relevant corporate tax rate.

  3. Investment Income Comparison report: The calculation of the Estimated Franking* column has been updated to cater for the additional corporate tax rates.

  4. Contributions Breakdown report: Total Internal Contribution and Total External Contribution lines have been added to the Contributions Breakdown report.

  5. Investment Security List: mFund security names that appear in the Investment Security List will now display in proper case.

  6. Distribution Tax Automation: Simple Fund 360 now has over 715 securities supported for the 2020 Financial Year.

  7. External Contribution screen: Filter and search function added to sort through the different sections of the External Contribution screen.

  8. Corporate Action: The merger between Real Energy Corporation and Strata-X Energy Limited to Pure Hydrogen Corporation Limited has been added to the Corporate Action screen.

  9. Registry Data: More ETFs and Options/Rights now available to be set up in the Registry Data screen.

  10. Entity Workflow: A ‘Latest Investment Strategy Date filter’ has been added to the Entity Workflow filters.

  11. Trustee Representation Letter: The Auditors address will now appear across two lines.

  12. Investment Reports: All investment reports now contain both the account name and security code when listing investments.

  1. Period Compliance screen: Improved year-end workflow for Individuals in the Period Compliance screen.

  2. Year-End Revaluations: Year-end revaluations are now being run for Individuals.

  3. Company Type: The Company type – ‘Other’ has been added that gives users the ability to set a custom tax rate.

  4. Statement of Taxable Income screen: Users now have the ability to revert tax allocation journals for companies with the addition of a delete option in the Statement of Taxable Income screen.

  5. Reports: The Appropriation Statement and Operating Statement have been updated to display the reserve amounts.

  6. Entity Setup/Details screen: The wording has been updated in both the Entity Setup and Entity Details screens.

  7. Distribution posting: Simple Invest 360 now allows users to post the full profit to the Retained Earnings account when the Trust has no Beneficiaries.

  8. Period Compliance screen: Improvements have been made to the Period Compliance screen including the View Losses button being added to the Statement of Taxable Income section and navigation options for both Reports and Workpapers in step 3.

Errors Corrected

  1. Fixed: Corporate Actions - DRP on 17th September 2020 has now been added for RIO.AX DRP

  2. Fixed: Corporate Actions - DRP on 18th September 2020 has now been added for WPL.AX DRP

  3. Fixed: When a fund has an investment account with security with a long description, the fund transfer had failed.

  4. Fixed: Bank Authority Form Upload - Issue with the error message shown when the file size is too large. Showing the appropriate message now.

  5. Fixed: Bank License Counts - Corrected BGL Bank Data Licence Check inconsistencies between Smart Matching and Feed Management screens

  6. Fixed: Property Dashboard was not loading when Multiple Rental income accounts (Account 28000) were attached to the Investment Account.

  1. Fixed: Reports screen date selector issue resolved

  2. Fixed: Fixed issue where setting ‘tax losses deducted’ to zero for a company displayed an error

  3. Fixed: Fixed issue where reducing the carry forward tax losses amount within the ‘view losses’ caused an error in some scenarios.

  4. Fixed: Property screen - Issue when switching from entity view to global view has been resolved.