- Transfer Balance Account Report (TBAR) Lodgement
If an SMSF member has a pre-existing income stream, it must be reported to the ATO on the TBAR on or before 1 July 2018. A pre-existing income stream is an income stream the member was receiving on 30 June 2017 that:
- continued to be paid to them on or after 1 July 2017; and
- are in the retirement phase.
The Simple Fund 360 TBAR Management Screen allows you to prepare this information to easily lodge to the ATO.
|Initial TBAR Lodgement of File by 01/07/2018||Pre-existing income streams must be reported to the ATO by 1 July 2018. This article will demonstrate the steps to prepare a bulk TBAR file to lodge to the ATO Portal.|
|TBAR Management||This article details general use of the TBAR Management screen including how to lodge TBAR events to the ATO beyond 1 July 2018.|
|Transfer Balance Dashboard||Learn more about a fund’s Transfer Balance Dashboard, and how to manage a member’s Transfer Balance Account.|
|Transfer Balance Account Report (TBAR)||Learn more/refresh your memory on the new Event Based Reporting regime and lodgement requirements.|
|Capped Defined Benefit Income Streams and Special Value||Certain pension types use a special value for TBAR reporting.|
- BGL Excel Import - Investment Purchase History and Notional Gains
The BGL Excel (XML) Import has been updated to include a new Investment Opening Balances tab. This tab will allow you to import investment purchase parcels when setting up a new fund, including any notional gains from the application of CGT Relief (when completed in a prior software).
- Pension Member Tax Free Proportion
The tax free proportion percentage for pension members can now be edited in The Member List.
Refer to Edit the Tax-Free Proportion.
- 2018 Fact Finder Report
The 2018 Fact Finder report has been released to the Reports screen.
- BGL Contract Notice - New Brokers added
The following brokers have been added to The Share Data Pack:
- 123 Investment
- Asenna Wealth Solutions
- BR Securities
- Compass Financial,
- LDB Wealth Solutions
- MORE Wealth Management.
- BGL Community: The BGL Community has been added as a link in the Help and Resources section.
- Fund Workflow: Names of people will be displayed in <Surname, First Name> format.
- Analytical Insights: Pension filtering options added for Market linked and Complying Lifetime Pensions.
- BGL Excel (XML) Import: Foreign security codes can be input for Investment Transactions . Post-upload Simple Fund 360 will link the security to the investment’s chart account.
|Security Type||Required Code|
|ASX||.AX ( BHP.AX where .AX is the code)|
|Manual||No code required at end of security.|
|Unlisted Unit Trust||No code required at end of security.|
|HKSE (Hong Kong)||.HKX|
- BGL Excel (XML) Import: Manual security codes can be input for Investment Transactions . Post-upload Simple Fund 360 will automatically add the code to the Securities screen and link the security to the investment’s chart account.
- PAYG Tax Instalments: The 2018-2019 financial year can now be selected in the More Details Panel.
- CGT Register Report: Notional gains column added to the report.
- Unrealised Capital Gains Report and Unrealised Capital Gains Report - Detailed: Reports now exclude bank accounts and term deposits.
- Distribution Reconciliation Report: Non-unitised investments now displaying on the report.
- Fact Finder 2017 - Super Reform report: 2018 version available for report.
- Macquarie Wrap: The data feed now includes data for recently closed accounts (closed within last three years).
- Wraps and Platforms: Search function added to the setup screen when adding wraps to filter available wrap providers.
- The Share Data Pack: Contract Note Service broker instructions can now be prepared in bulk.
- Transaction Matching and GST: Manual matching of an amount to account 77200 with a GST rate setup is now working.
- CGT Relief (Cost Base Reset): Parcels with contract date 09/11/2016 can no longer be selected.
- Transaction Input: Post and Copy function no longer adding extra transaction line for GST registered funds.