New Features May 13/05/2021

New Features

  1. Contract Notes Service: BGL provides you with market-leading technology to empower users to achieve more through automation. With an extensive list, BGL now supports international share trades from SelfWealth.

  2. Contribution Dashboard: Concessional contribution cap will now be displayed to the indexed cap of $27,500 for the 2021/2022 Financial Year and onwards.

  3. Contribution Dashboard: Non-concessional contribution cap will now be displayed to the indexed cap of $110,000 for 2021/2022 Financial Year and onwards, for members under the age of 65 and where the member has not triggered a bring forward arrangement before 1 July 2021.

  4. Contribution Breakdown Report: Support for indexed concessional and non-concessional contribution caps from 1st July 2021.

  5. Documents: BGL now provides extra security. We will now scan documents for viruses before uploading them into Simple Fund 360.

  6. Transfer Balance Cap indexation to $1.7M: Members with total super balance of $1.7M or more will have non-concessional cap of nil from 1 July 2021.

  7. Transfer Balance Cap indexation to $1.7M: The total super balance limit, which determines if an individual is entitled to use the non-concessional bring forward arrangements, will increase from $1.6 to $1.7 million from 1 July 2021.

  1. Income Streaming: Batten the hatches!! Income Streaming now available in Simple Invest 360. This new feature will help users manage capital gains and franked distributions to which a beneficiary is specifically entitled. SI360 users can now use the Income Streaming screen to allocate earnings to the trust beneficiaries.

  2. Integrations: Easily and instantly create entities in Simple invest 360 from existing Trusts or Companies created in CAS 360

  3. New Report Alert! Introducing the Declaration of Distribution Resolution

  4. And another one! Portfolio Progress Report is now available


  1. Chart of Accounts: The 2021/2022 Financial Year can now be selected from the More Details Panel for Account 85000 - Income Tax Payable/Refundable.

  2. Contribution Dashboard: When fund member is over 75 years the Non-Concessional Cap will now display under the following label “Age 75 or Above”.

  3. Contribution Breakdown Report: Non-Concessional Cap has been updated for when members are over 75 years old.

  4. Contributions Breakdown Report API: Support for the Non-Concessional Cap changes for members over the age of 75 has been added to the API.

  5. Entity Workflow: Support for the Non-Concessional Cap changes for members over the age of 75 has been added to the Entity Workflow Screen.

  6. Mobile App: Support for the Non-Concessional Cap changes for members over the age of 75 has been added to BGL Engage.

  7. CGT Register Report: The investment account code has been added to the CGT Register Report.

  8. Corporate Actions (takeover): Wam Capital Limited to acquire Concentrated Leaders Fund Limited, will now be supported in Simple Fund 360 through the Corporate Actions Dashboard.

  9. Entity Workflow: We have updated the member balances to 1.7 Million when filters have been set for “Total Super Balance” and “Total Pension Balance”

  10. Tax Effect Accounting: Include Capital Works Deduction in the Calculation of PDIT.

  11. Property Dashboard: Investment account 72350 - Farming Property will now be supported from the Property Dashboard.

  12. Badges: From the Badges menu you will have a privacy option toggle for both Tax File Number (TFN) and Date of Birth (DOB).

  13. Investment Strategy Report: Minor wording updates have been made to the Investment Objectives.

  14. Lodgement API: The ability to make a call using FundId is now supported.

  15. Property Dashboard: We have added the ability to attach Title Documents in the Edit Property screen which is accessed from the Property Dashboard.

  1. Beneficiaries Screen: Users will now be able to set the residency status of the entity’s beneficiaries.

  2. Distribution Screen: Will now display the Entity Type, Residency Status and Personal Taxable Income.

  3. Income Streaming: tax components will be allocated according to the streaming percentage.

  4. Income Streaming: Share of Income of Trust Estate (W) allocation when streaming is completed.

  5. Statement of Taxable Income Screen: Taxable Income or loss calculated will be stored and saved across all entities.

  6. Trustee Minute template: Improvements have been made to the Trustee Minute/Resolution.

  7. Trustee Minute/Resolution settings to show Distribution by percentage or by dollar amount.

  8. Trustee Minute and Resolution: Unit trusts will print on a separate page based on each Unit Class.

  9. Entity Relationship: Billable Individuals are enabled as Trustees from the Entity-Relationship screen.

  10. Chart of Accounts: Users can now create sub-accounts under Account 58400 Reserve.

  11. Period Compliance: Update wording from Revert to Reverse from period compliance screen

  12. Support: Live Chat, Simple Invest 360 Knowledge Centre and submitting support tickets are now all accessible directly in Simple Invest 360.

  13. Smart Matching: New system rules have been developed to help match beneficiary distributions received.

Errors Corrected

  1. Fixed: The DRP notification in the Corporate Actions screen will no longer appear when there are no units on hand.

  2. Fixed: When a fund contains a significant amount of distribution entries, the Distribution Reconciliation report can now be downloaded to Excel format without error.

  3. Fixed: The Contribution Summary report no longer generates an additional blank page.

  4. Fixed: When processing Corporate Actions, there is no longer an issue with the ‘Process’ button not appearing.

  5. Fixed: In the Members screen, the Tax-Free % column for Pension accounts will now display with two decimal places.

  6. Fixed: The PDIT now includes Capital Works Deduction in the Calculation.

  7. Fixed: The ‘Show Registered Name’ toggle in the Balance Review report is now working correctly.

  8. Fixed: In the Entity Workflow, entities set up on or after 1 July 2020 will now be excluded from the ”FY2020 Lodgement status” filter.

  9. Fixed: When preparing the Segregated Statement of Financial Position, the Sub-accounts will now appear in alphabetical order.

  10. Fixed: The Graph Indicator in the TBAR dashboard is now updating based on ‘TBAR balance from other funds’.

  11. Fixed: When adding adjustments via the Add Adjustments button in the TBAR dashboard for future years (2023 onwards), the system now looks at previous cap adjustments first.

  12. Fixed: The log a support call function has the same header across all screens.

  13. Fixed: The Collectibles Investment account name no longer gets cut off when preparing two reports: The Unrealised Capital Gain report and the Unrealised Capital Gain – Detailed report.

  14. Fixed: Netwealth income data is now loading the correct components once finalized at year-end.

  1. Fixed: When a unit class has 0 units, its allocated input will be locked.

  2. Fixed: Exiting out of popups from within the Statement of Taxable Income screen will be easier with the addition of an ‘x’, as well as being able to hit the ‘Esc’ key to close.

  3. Fixed: The alignment in the Beneficiary Distribution Summary report has now been fixed.

  4. Fixed: The account type for Liability – Loans will now appear correctly when preparing the Chart of Accounts Listing report.

  5. Fixed: Issues regarding changes made to the Foreign Income Tax Offset line in the Statement of Taxable Income screen have now been fixed.

  6. Fixed: Tax Reconciliation report company label 6J has been fixed to include only Unrealised gains from the 24700 – Changes in Market Value of Investments.