New Features November 10/11/2022

New Features

  1. Fund Pension Policies – New functionality has been added for funds that are 100% Tax Exempt. If the fund has been manually set as 100% Tax Exempt, this policy will now automatically carry over into the next financial year.

  1. New Screen: Investment Income Generation - Inputting Investment Income has become even easier with the new Investment Income Generation screen!
    This screen for individuals generates distributions and dividends based on investments held, allowing you to easily review and post income transactions.

  2. Reports – Three new reports are now available for companies in Simple Invest 360:


  1. Fast Data Entry: Artificial Intelligence (AI) has been updated to a new model. For Bank Statement uploads, this will result in better performance and fewer issues.

  2. Matching Rules: When creating a matching rule, the Review Before Apply option will be auto-ticked if the account selected cannot be auto-matched

  3. Corporate Actions: A merger corporate action has been added for MLD.AX

  4. New mail merge fields added to the Custom Letters including fields for the tax payable/refundable amounts and fields for different Fund Name variations.

  1. Fund Transfers: Updated to include PAYG Amendments

  2. Reports: The Report Date settings will be saved at a Fund Level

  3. SuperStream: The new and very much improved SuperStream Dashboard replaces our old SuperStream registration screen. If you still miss the old screen, the Dashboard will include an access link to the old Superstream Registration screen

  4. SMSF Annual Return: When clicking Print in the Tax Compliance screen, the pdf will now not include the schedules if the schedules are empty.

  1. Tax Return: The tax agent postal address are now pre-filled based on the entity details screen for Trusts & Companies

  2. Operating Statement: Various Improvements made to Operating Statement & Appropriation Statement including retained earning and reserve sections added for trading entities

  3. Operating Statement: Improved the changes in market value logic related to the 72300 account for stock trading entities

  4. Stock trading report: Now also picks up parcels acquired/removed through corporate actions

  5. Reports: Improved the functioning of showing comparatives for part year reports for stock trading entities

Errors Corrected

  • Fixed: Unrealised Writeback system journals not reversing when transaction upload has been reversed.

  • Fixed: Realised Capital Gains report wrongly allocates cost base for securities with multiple parcels after processing a Merger from the Corporate Actions Screen.

  • Fixed: Create entries report applying (1-Actuary) for negative tax-deferred in the subsequent years when disposal occurs.

  • Fixed: Tax losses deducted being saved from the Statement of Taxable Income Screen.

  • Fixed: Additional logic added to help treat how Company Income Tax expense is posted from the Statement of Taxable Income Screen.

  • Fixed: Additional logic added to help treat how Share of Trust Income of Trust Estate, which is calculated from the Statement of Taxable Income Screen.

  • Fixed: Decrease in Market Value of Investments now reported on section 7 label W (Non-deductible expenses).

  • Fixed: PDF mapping for losses schedule from the company tax return.

  • Fixed: Some depreciation assets that are linked to a property were not prefilling the schedule.

  • Fixed: Dividends already paid not showing all entries in Period Compliance.

  • Fixed: Foreign Withholding amount populating for taxable totals in the Beneficiary Distribution Summary.

  • Fixed: Data Feed still importing after period end workflow has commenced.