New Features - August 2020 Release (27/08/2020)

New Features

  1. Reports: Detailed Investment Strategy Comparison report is now available in Simple Fund 360. The report provides a breakdown of the latest asset allocation for each investment and identifies whether a system tag has been used to determine the current holding balance.

  2. CGT Health Check: Newly released! - Allows for cost base adjustments to be easily entered across all your investments.

  3. Feed Management – An error message will display indicating if there are any specific issues with existing credentials in Provider Settings for Macquarie Cash ESI, Macquarie Wrap and HUB24.

  4. New Wraps & Platforms added - Mason Stevens Global Investment Service (GIS).

Leveraging the powerful, award-winning technology of our SMSF admin solution Simple Fund 360, together with our ecosystem of over 300+ automated data feeds, Simple Invest 360 will provide a sensational CGT record-keeping and reporting solution for companies and trusts using our smart artificial intelligence-powered categorisation and data capture.

What’s New:

  • To maximise your experience we’ve upgraded the Reports screen. You will now have access to a completely new Reports interface with single click PDF & Word export, A- Z + Tag sorting + loads more requested functions.
  • Three New Reports Available! Detailed Operating Statement, Rental Property Statements and Detailed Activity Statements, for both Trusts and Companies.


  1. Fund Transfer: The Fund Transfer function has been updated to include new Corporate Action types.

  2. Fund Transfer: The Fund Transfer function now brings in Tax Return lodgement records for previous years. Users will also have the option to amend and lodge them in Simple Fund 360.

  3. TBAR Management Screen: The TBAR management screen has added a check to see if return has already been lodged for MCO events.

  4. Reports: The Investment Strategy Comparison – Detailed now features an account selector for the report to be focused on.

  5. SMSF Annual Return: An additional check has been added to Section F, label R1 of the SMSF Annual Return, checking to see if a special condition (Coronavirus / Compassionate grounds / Severe Financial Hardship / Temporary or Permanent Incapacity) account for greater than 50% of the R1 label amount. The R1 code is then determined based on this figure.

  6. Reports: The Operating Statement and Detailed Operating Statement now have the ability to not display Pension Payments.

  7. Reports: The Investment Income Comparison report will now contain a marker and the message ‘Cancelled Dividend’ next to the security if the dividend has been cancelled.

  8. Start New Pension Wizard: A ‘Conditions of Release’ drop-box has been added to the Start New Pension Wizard so that users can specify the exact condition of release when commencing a Pension.

  9. Reports: The Pension Summary Report now displays age at 01 July or Pension start date for new pensions.

  10. Distribution tax automation: We have simplified the 2020 tax season by providing you with distribution tax component data (system data) for over 200 commonly held investments

  11. Bell Potter Equity Lever: The tolerance between matching the Bank Transaction date and the Dividend Payable date has now increased to +10 days. If there are multiple investments that match within a +10 day period, the system will pick the closest date.

  12. Superannuation work test: The age at which the Superannuation work test starts to apply for voluntary Concessional and Non-Concessional Superannuation contributions has increased from 65 to 67.

  13. Corporate Actions: Merger Corporate Action data added for:

  • The merger of TPG Telecom (TPM) and Vodafone Hutchison Australia 14/07/2020.
  • Acquisition of Universal Coal Pls (UNV) by TerraCom Limited 03/07/2020.
  • Windlab Limited (WND) announce the scheme of arrangement to effect the acquisition of Windlab by Wind Acquisition 2 Pty Ltd 29/06/2020.
  1. Entity Setup: The Quick Fund Setup page is being switched off, and the (beta) tag is being taken off Entity Setup.

  2. Chart of Accounts: When adding new investments to the Chart of Accounts, the tag of the control-account code will now be automatically applied to the sub-account

  3. Smart Matching: Added additional checks to the ASX matching rule have been added to better determine if the bank transaction should be matched to an income account or a receivable account.

  1. Reports: The Bank Statement and Balance Review Report can be run from Reports screen for Trusts and Companies.

  2. Property Dashboard: The LRBA status within the Property Dashboard is hidden when the entity type is a Trust or a Company.

  3. Fund Details: The Fund Details API reflects entity type of Company and Trust.

  4. Smart Matching: If the entity type is a billable Trust or Company, users are able to create custom rules to the 58xxx range of accounts.

Errors Corrected

  1. TBAR Events: Users will only be able to enter events that related to the current reporting period.

  2. Fund Transfer: Error when importing a fund with linked depreciable assets, has now been resolved.

  3. International Share Prices: Improvements have been made to automatically update international share prices.

  4. Pension Dashboard: After reverting to a reversionary beneficiary, the minimum pension payment will now pro-rata if the pension commences mid-year.

  5. Smart Matching: Resolved error when matching a transaction from Suspense to a Member Contribution Account.

  6. Investment Income Comparison - Excel Export will now display the footnote for the 45-day holding rule.

  7. Pension Commutation: When processing a commutation and the entire balance taken out is set to NO. However, the amount being commuted equals the member’s full balance, Simple Fund 360 will now set the default event to STO.

  8. Commence Pension: Error resolved when starting a pension with a member code ending in the letter P.

  9. Fixed: Dividend Data for 2019/2020 has now been added for VTS and VEU.

  10. Fixed: Cost base error resolved when recording a Return of Capital transaction for pre-CGT investment.

  11. Fixed: Error resolved when accessing the Chart of Accounts and creating a custom Sub Account.

  1. Notes to the Financial Statements: Note on Income Tax Expense will be hidden, when the entity type is set to Trusts and the Income Tax Expense is zero.

  2. Front Cover: The Front Cover for Financial Statements will now use the data from the Entity Relationships page.



  1. SMARTER SMSF: 4 New Documents can now be created directly from the Order Document Screen in Simple Fund 360.

    A. Downsizer Contributions

    • Cost: $ 99.00
    • This form creates documents for a member (and their spouse) making a downsizer contribution into a SMSF from the sale proceeds of their home.
      The following documents will be generated as part of the completed order:
      • Member declaration
      • Trustee minute accepting contribution(s)
      • pre-populated copy of the ATO ‘downsizer contribution into super’ from (NAT 75073-12.2018)

    B. Contribution Reserve - concessional contributions

    • Cost: $ 99.00
    • This form creates contribution reserving minutes for concessional contributions (CC) and non-concessional contributions (NCC), following the Commissioner’s guidance in TD 2013/22 and SMSFRB 2018/1.
    • The following documents will be generated as part of the completed order:
      • Creation and allocation to a contributions reserve
      • Allocation from a contributions reserve
      • ATO’s Request to adjust concessional contributions form - (coming soon)

    C. Work Test & Work Test Exemption

    • Cost: $ 55.00
    • This form creates documents that support a member between 67 - 74 years of age having satisfied the work test during a financial year to be able to make a contribution into superannuation.
    • From 1 July 2019, where the work test is satisfied in the previous financial year and the member has a Total Superannuation Balance (TSB) < $300,000, a contribution can also be made into superannuation. This order form covers both of these combinations.
    • The following documents will be generated as part of the completed order:
      • Gainful employment declaration (current year or previous year);
      • Trustee minutes accepting contribution and meeting work test or work test exemption.

    D. Contribution Splitting

    • Cost: $ 55.00
    • This form allows you to generate documentation to split concessional contributions to a spouse. As you complete the form to generate the order you will be asked to determine the splittable amount by dollar or percentage.
    • The following documents will be generated as part of the completed order:
      • Request to split taxed contributions to spouse;
      • Minutes authorising split of taxed contributions; and
      • Populated ATO contribution splitting application form (coming soon)
  2. Saving orders in Simple Fund 360: Smarter SMSF has now introduced saved orders into the functionality of ordering documents within Simple Fund 360. This will allow you to store the order information.

  3. Investment Strategy Update: Smarter SMSF has updated the investment strategy to now include additional documentation to support heavy asset concentration across various asset classes including, property, shares, cash & fixed interest