New Features - November 2019 Release (26/11/2019)

New Features


  1. Android: BGL Engage is now available to Android users and can be downloaded from the Google Play Store. For further information check out our help: Mobile App: Welcome to BGL Engage – Simple Fund 360 Knowledge Centre
  2. Time-Weighted Rate of Return (TWRR): It can be tough for investors to figure out just what their return has been on their investment, especially if you have added contributions during the year. Simple Fund 360 has added the TWRR Report to help you determine your return. Available on mobile-only (IOS and Android).
  3. Property Dashboard: A new exciting dashboard has been created that will allow users to create, manage and report on properties from one central location in Simple Fund 360.
  4. Contract Note Service: Veritas Securities Limited & Bailey Roberts Group have been added as a supported broker to the Contract Notes Service. Click here to review a full list of Supported Brokers.
  5. SMSF Return: Given the recent developments by the ATO, Label Y in Section F & G (2019 SMSF Annual Return) can now be automatically calculated in Simple Fund 360.

Improvements


  1. Registry Data Service:* ETFs are now supported by the Registry Data Service. You can now reconcile balances of ETFs from within the Balance Review Screen.

  2. Minutes/Declaration/Resolution blank date: When the “Data Documents” badge setting is set to “No”, a placeholder date field (…/ … / …) now appears in the generated report.

  3. TBAR Dashboard LRBA Alert: Simple Fund 360 now displays an alert in the TBAR Dashboard when an LRBA has been detected in the fund.

  4. Alphabetical ordering of sub-accounts: Sub-accounts listed in the Detailed Statement of Financial Position are now displayed in alphabetical order.

  5. Migration Utility: Security enhancements have been developed in the migration utility that enables you to migrate from Simple Fund to Simple Fund 360. For more information click here.

  6. Corporate Actions: The following corporate actions have been added into Simple Fund 360 to allow users to automatically process with just a couple of clicks:

    • Ardent Leisure Group Limited (ALG) has acquired all issued stapled securities in Ardent Leisure Group (AAD) - 24/12/2018.
    • Agrium Australia Pty Ltd (a wholly-owned subsidiary of Nutrien Ltd and related body corporate of Landmark Operations Limited) has acquired all issued shares in Ruralco Holdings Limited (RHL) for cash consideration of $3.56 a share and a special dividend of 84 cents cash per RHL share - 06/08/2019.
    • AP Eagers Limited (APE) was successful with an offer of one AP Eagers share for every 3.6 Automotive Holdings Group Limited (AHG) shares - 16/09/2019.
    • Clime Capital Limited (CAM) was successful with an offer of 0.8441 CAM shares and 0.2740 CAM notes for each CBG Capital Limited (CBC) share - 09/09/2019.
    • Wesfarmers Lithium Pty Ltd, a wholly-owned subsidiary of Wesfarmers Limited (WES) acquired all issued ordinary shares in Kidman Resources Limited (KDR) for $1.90 cash per share - 23/09/2019.
    • Qube Logistics (Aust) Pty Ltd (QUB) was successful with an offer of either 2.31 shares in Qube Holdings Limited for each Chalmers Limited (CHR) share or $6.50 cash for each Chalmers share - 08/08/2019.
    • Greenland BidCo, a company owned by funds managed by Adamantem Capital, was successful with an offer of $0.295 cash per Legend Corporation Limited (LGD) share - a special dividend of $0.07 a share was also paid to Legend shareholders - 30/08/2019.
    • Nippon Paint Holdings Co Ltd acquired all of the issued shares for the consideration of $9.37 per Dulux Group (DLX) share - 21/08/2019.
    • IPH Limited acquired all of the issued shares in Xenith Ip Group Limited (XIP) for the consideration per Xenith share - 15/08/2019.
    • Saracen Mineral Holdings Limited (SAR), through its subsidiary Saracen Metals Pty Ltd, successfully acquired each Bligh (BGH) Share for 0.0369 Saracen shares - 12/08/2019.
    • Angang Group Hong Kong acquired each Gindalbie Metals Ltd (GBG) share for the consideration of $0.026 per share - 23/07/2019.
    • For the acquisition of Spicers (SRS) by Kokusai Pulp & Paper, shareholders received a total transaction consideration payment of $0.073 (7.3 cents) per share which included a capital return of 3.0 cents per share - 16/07/2019.
    • BGH Bidco (an entity owned by a consortium led by BGH Capital) acquired all of the issued shares in Navitas (NVT) from Navitas shareholders for the cash consideration of $5.825 a share - 02/07/2019.
  7. Distribution Tax Automation: newly supported securities have been added to Distribution Tax Automation. For a full list of supported securities click here

  8. Uploads: Performance improvements have been made to enhance the importation of data from the following sources: BGL XML, Morgans Wealth+, Politis, and Xplan uploads.

Errors Corrected


  1. Investment Performance Report: an update has been made to the return % calculation which will now include investment sales made during the financial year.
  2. Transfer Balance Dashboard: Changes have been made to accommodate for a graphical display when a members TSB is zero.
  3. Tax Agent’s Declaration: when preparing a BAS, use the details in Section K of the current year tax return to prepare the Tax Agent Declaration.
  4. Audit Working Papers: amounts posted to account 62550 and 65000 will now display on Audit Working papers under Other Assets.
  5. Deductions Notice: Error message has been updated to “Selected member(s) must have personal contributions in order to prepare this report."
  6. Investment Income Report: The Net Capital Gain calculation will now populate.
  7. Create Entries: Warning messages have been added to the Create Entries process to detect accounts that are missing tax labels.
  8. Transfer Balance Dashboard: Member client identifier toggle will now enable or disable the External Member Code or Client Identifier
  9. PDIT: improvements have been made to PDIT calculations when Tax Effect Accounting is active.
  10. ASX Dividend Data: AMH Amcil Payable corporate tax rate franking credit has been corrected to 30%
  11. Contribution Dashboard: Corrections have been made to the graphical display of the Total Super Balance, when screen resolution is set to low.
  12. Contribution Breakdown Report: Export to Microsoft Word has now been resolved.
  13. Chart of Accounts: Error resolved with access rights and previewing the Global Chart of Accounts.
  14. Balance Review: Enhancements have been made to ‘report as at date’ to display the exclamation point icon.

For the Investment Performance Report, it is now including the cost base of the final proceeds of sale…not just the interim investment sales…
In a situation where an asset cost $39,312 to acquire, proceeds of sale were $37,602, & it was worth $41,476 MV at beginning of the year, an asset has made a market loss of $3,875, it’s % return is -9%; the Investment Performance report result was -179% as the Asset value was reduced to $2,164 ($41,476.98-$39,312 cost base). I’m getting some strange percentages on this report now…