Compliance software solutions firm BGL Solutions is releasing an updated version of its administration capability, Simple Fund 360 Version 3.0, to service its 140,000 users.
Simple Fund 360, which was launched at the end of May ahead of the 2017/2018 financial year super reforms, had updated the software with new features to better aid compliance.
Reforms would include:
- New tax return export to Xero Tax;
- Updated transfer balance dashboard to track member’s pension accounts from 1 July;
- Inclusion of SBR lodgement of the 2017 SMSF Annual Return; and
- Contribution cap notifications in real-time delivered from SuperStream and bank data
BGL managing director, Ron Lesh said the new features to be added had been built following regulatory change for the new financial year, and to boost functionality in line with client expectations.
“This release brings a whole lot of work together, but there is still a lot of work to do from the 2016/2017 and 2017/2018 Budget changes, where we are still waiting on the government and ATO [Australian Taxation Office] to provide more details,” he said.
“The ability to confirm investment holding balances for ASX [Australian Securities Exchange] Listed Securities to the two largest registries is a real bonus for our clients; this means our clients no longer need to rely on incomplete data from brokers or go to the registry websites and search individual holding balances.”
BGL said it would continue to update Simple Fund 360 where necessary.
