Smoke, mirrors and TBAR reporting….

By May 25, 2018Homepage, News

I wonder at times how some people can lie straight in bed at night when all day they deliberately misinform. I suppose they have learnt from the politicians and the spin doctors.

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Like with almost everything these days in the SMSF software industry, there are those that tell the truth, and those that, well – don’t.

There is TBAR reporting and there is TBAR reporting. Last night BGL released the next part of our TBAR reporting solution in Simple Fund 360. This release supports ALL TBAR reporting – pre 30 June 2018 and post 30 June 2018. Unlike others who have released half (if that) a solution, in Simple Fund 360 we have the WHOLE solution. No ifs, no buts, not to be released in the future – as a Simple Fund 360 client, you can process and lodge all TBAR events today.

And this is important. Why ? Because although the first quarterly TBAR must be lodged by 28 October 2018, SMSF administrators may need to notify some TBAR events earlier. And if they don’t, their clients may end up with incorrect notices from the ATO and possibly penalties.

So providing half a solution, is not a solution. Yet some people think it is. And some people like spin.

Here at BGL, we let our software speak for itself.

So if you want to find out why Simple Fund 360 is not only the most technically advanced, but also simply THE BEST SMSF admin solution, or you are just sick of the half truths and poor service coming from your software supplier, please do call us.

 

 

Ron Lesh

Author Ron Lesh

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Join the discussion 5 Comments

  • Terri Scott says:

    We are extremely pleased to hear you have a solution to TBAR reporting, especially after ATO Kasey McFarlane informed attendees at the SMSF Association National Conference in February this year that reporting could only be done via the ATO website form. We missed your recent webinar training session on TBAR reporting and hope you will be holding another soon.

  • Stacey says:

    Is there a TBAR solution for Simple Fund Desktop?

    • Teagan Crozier says:

      Hi Stacey,

      Yes, Simple Fund Desktop is able to handle TBAR.

      The software is able to prepare the TBAR paper form and also the electronic file for lodgement via the ATO portal.

      You can check out this help article on the BGL Wiki (http://wiki.bglcorp.com.au/HF:Transfer_Balance_Account) for more information, or contact our BGL Support Team on 1300 654 401.

      I hope this helps 🙂

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