BGL first to release 2023 SMSF Annual Tax Return

BGL Corporate Solutions, Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment management software, has announced the release of the 2023 SMSF Annual Tax Return in its SMSF administration software solution, Simple Fund 360.

“I am continually impressed with our Simple Fund 360 team,” said Ron Lesh, BGL’s Managing Director. “Since 1 January 2023, they have delivered 6 significant updates, including support for the 2023 SMSF Annual Return 6 weeks before the end of the financial year and even SBR electronic lodgment before 30 June 2023.”

Released on 18 May 2023, the Simple Fund 360 tax time update supports the 2023 SMSF Annual Tax Return, complete with all the required supporting schedules and electronic lodgment to the ATO from 1 July 2023. SBR electronic lodgment has also been switched on following ATO system updates. Support for newly registered funds and funds winding up for the 2023 Annual Return is also supported.

BGL’s free open API was also updated, allowing clients to seamlessly send the 2023 SMSF Annual Tax Return from Simple Fund 360 to Xero Tax and LodgeiT for lodgment.

On 15 June 2023, BGL released Part 2 of its tax time update, which includes support for the 2023 Trust and Company Income Tax Returns in its accounting, investment, and tax software, Simple Invest 360. SBR electronic lodgment is also available.

Jeevan Tokhi, Head of Simple Fund 360 at BGL, said, “Over the past 12 months, our product teams have released new client-driven features and enhancements every 3-4 weeks with innovative technologies like BGL SmartDocs, which uses artificial intelligence to extract data from PDF documents. When you add it all together, it’s easy to see why our compliance solutions are miles ahead of the competition.”