New Features - July 2020 Release (09/07/2020)

Integrations


  1. Smarter SMSF have extended access to the COVID-19 documentation to 31 July 2020. More Details…

  2. Smarter SMSF has added 4 new documents for SMSFs.

    • Above reduced minimum pension election

      • Cost: $77.00
        Details: Once generated, the user will receive an email with a link to download the following documents:
        • Member notification for above minimum pension amounts
        • Trustee minutes regarding the treatment of above minimum pension amounts

      Documents comply with ATO’s Commissioner’s views set out within TR 2013/5 and PCG 2017/5 for a valid commutation.

    • Partial Commutation

      • Cost:$121.00
        Details: Once generated, the user will receive an email with a link to download the following documents:
        • Member request for partial commutation
        • Trustee minutes regarding partial commutation
        • Trustee notification of partial commutation
    • TRIS to Retirement Phase

      • Cost: $99.00
        Details: Once generated, the user will receive an email with a link to download the following documents:
        • Member request with condition of release and written notice for retirement phase
        • Trustee Meeting and resolutions to move TRIS to Retirement Phase
        • Trustee Notification regarding TRIS moving to Retirement Phase
    • Member Met Condition of Release.

      • Cost: $55.00
        Details: Once generated, the user will receive an email with a link to download the following documents:
        • Member notification of satisfying condition of release
        • Trustee minutes acknowledging condition of release met

Save up to 40% off PAYG pricing as a BGL customer with all Smarter SMSF docs, with even greater savings available through subscriptions that suit the size of your business.

New Features


  1. Fund Workflow: Users will be able to easily filter by Entity type from the Fund Workflow screen. Currently only SMSF available.

  2. Xero : The 2020 SMSF Annual Return can be exported for lodgement to Xero Tax. Refer to Export SMSF Annual Return to Xero

  3. Analytical Insights: When creating a fund report from Analytical Insights the Deed Source will now also be included in the export.

  4. Newly added broker - Empire SMSF for Contract Notes Service

  5. Newly added broker - Pulse Markets for Contract Notes Service

  6. Feed Management screen has updated feed status for contract note feeds below:

    • Awaiting Activation
    • Activated - Awaiting first trade
    • Feed Operating
  7. Your Wills, an online will platform has been integrated to allow clients to set up their wills.

  8. 2020 Annual Tax Return for Simple Fund Desktop can now be imported into Simple Fund 360 for lodgement

  9. Audit Report Packs will be updated with the new template for FY 2020

  10. Documents requiring digital signing can now be canceled or voided from the Documents Screen.

Improvements

  1. Coming Soon - Workpapers: The following Warnings/Observations have been added to the Workpapers screen:
    Member has made a Downsizer Contribution during the Financial year.

    • Member is 75 or over and only allowed Employer Mandated contributions
    • Member is 65 or over will need to meet the ‘Work Test’ requirements for certain contributions.
    • Member has exceeded Concessional Contributions Cap.
    • Member has exceeded Non-Concessional Contributions Cap.
    • Warning added if Minimum Pension Requirements have not been met.
    • Warning displayed if last Market Value date for an Investment is equal to 27th June or earlier
  2. Coming Soon - Workpapers: Account codes have been added to the navigation arrows that are used to navigate between Workpapers. This way, users can see the account code for the previous and next Workpaper.

  3. Corporate Actions: Merger/Takeover data has been updated for the period of January to June 2020.

  4. Corporate Actions: March DRP prices for both BHP.AX and RIO.AX have been updated.

  5. Contacts (beta) screen: New Contacts (beta) page now allows ability to create relationship when adding a new contact. The relationship for a person contact can now be changed when editing contact.

  6. TBAR Dashboard: A button has been added to the TBAR Dashboard to trigger opening balance entries for migrated funds.

  7. TBAR Management Screen: The TBAR Electronic File Summary Report shows the details of the lodging party entity.

  8. Document Upload: Users are now able to delete documents uploaded for written signature.

  9. User Roles: User setting toggles for the ‘Feed Management’ and Balance Review’ screen have been added. Admin users can now change the default role setting for both the Feed Management and Balance Review screen, and enable/disable access for other user roles.

  10. Fund Workflow: The + Add New Fund button at the top of the Fund Workflow tab has now been updated to display +Add New Entity. Upon clicking the button, users will be directed to the new Entity Setup screen.

Errors Corrected


  1. Fixed: Column alignments in the Statement of Taxable Income

  2. Fixed: In some funds, Simple Fund 360 was matching contribution data from SuperStream to an inactive accumulation account.

  3. Fixed: Fund Workflow - Contribution data was not displaying in certain scenarios.