BGL adds 2022 SMSF Annual Tax Return to Simple Fund 360
BGL Corporate Solutions has announced the release of the 2022 SMSF Annual Tax Return in its SMSF administration software solution, Simple Fund 360.
“Every year, our clients eagerly await the release of the SMSF Tax Return,” said Ron Lesh, BGL’s Managing Director. “By releasing this as early as possible, we hope to alleviate some of the pressure that comes with the end of the financial year, while ensuring our clients can get ahead of the competition at tax time.”
Last week’s Simple Fund 360 release supports the 2022 SMSF Annual Tax Return with all the required supporting schedules and electronic lodgment through the ATO’s Practitioner Lodgment System (PLS) from 1 July 2022. The release also features an update to the BGL and Xero SMSF Tax integration so clients can seamlessly send the 2022 SMSF Annual Return from Simple Fund 360 to Xero Tax for lodgment.
BGL’s investment portfolio software solution, Simple Invest 360, has also been updated to support the 2022 Trust Tax Return with all the required supporting schedules and electronic lodgment. This comes just 2 weeks after BGL went first to market with the electronic lodgment of the 2021 Trust Tax Return with ATO approvals.
“Another huge achievement in this release, features 3 new reports in Simple Fund 360 and Simple Invest 360, to make reviewing portfolio’s a breeze for SMSFs, trusts, companies and individuals,” continued Lesh. “The new reports include an asset allocation pie chart, to show the relative size of each asset category within the portfolio, an asset allocation report, which breaks this down in detail and a defensive vs growth asset allocation pie chart.”
Finally, with the 2023 financial year just around the corner, legislation changes have been implemented in Simple Fund 360 for changes for downsizer contributions, the pension minimum reduction to 50% and non-concessional contribution 3 year bring-forward cap.
“Since 1 January 2022, the Simple Fund 360 and Simple Invest 360 Teams have delivered 5 significant releases,” added Lesh. “This highlights our real commitment to our clients, not only by implementing the most innovative and modern technologies, but by constantly releasing new features to meet their needs.”
The release notes can be found on the BGL Blog.