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Simple Fund 360 and Simple Invest 360 Product Update – Tax Time 2023

By May 18, 2023May 19th, 2023BGL Update, Simple Fund 360, Simple Invest 360

We are excited to announce the Tax Time 2023 update for Simple Fund 360 and Simple Invest 360!

  • Click here to check out the full release notes
  • Click here to join the conversation in the BGL Community

Learn what’s new at our New Features Webinar on Tuesday 30 May 2023, at 11:00 AEST. Click here to register!

Important SuperStream Reminder: From 30 June 2023, BGL will only support the BGLSF360 Electronic Service Address (ESA) through MessageXchange (MXC) for SuperStream contributions and rollovers. From this date, you will no longer receive data through the Australia Post AUSPOSTSMSF ESA. Please click here for more information.

What's New?

Tax Time 2023 features are now available! Including the following:

  • Support for 2023 SMSF Annual Return and Schedules. Learn more
  • 2023 SMSF Annual Return can now be exported to Xero Tax and LodgeiT for lodgement.
  • Support for newly registered funds and funds winding up for the 2023 Annual Return.
  • Updates to the Fund Transfer process for the new Financial Year.
  • Updates to the TBAR Management Screen, Chart of Accounts, Lodgement Screen and PAYG Screen to the new Financial Year.

Create Entries: The Create Entries process will automatically move member balances to Unrestricted Non-Preserved in the year the member turns 65. Learn more

Inter-entity Distribution Journals: For Trusts in Simple Invest 360, where the period end distributions have been allocated to a beneficiary or unitholder which is also an entity in BGL (SMSF, Trust, Company, or an Individual), a distribution transaction will automatically be created in the ledger of the receiving entity. Learn more

Compare Loans: New integration with Compare n Save, a fintech platform backed by a bricks & mortar financial services firm with over 25 years of history, which will help you compare hundreds of loans from more than 30 of Australia’s top banks and other lenders for home, investment and SMSFs. This integration will also help you easily structure debt for property purchases and conduct regular loan reviews to lower interest costs for your clients. Learn more

Property Valuations: New integration with Property Pricer, an independent, privately owned Australian company specialising in providing professionals with residential property valuations. PropertyPricer analyses a property by breaking down all the components contributing to its value, including the base building components, style and condition, room sizes, renovations, special features, aspects and proximity factors. Valuations can be ordered for the current date or a historical date. Learn more

SuperStream: The new Super Standard Choice Form (2023) is now available.

Smart Docs CGT: You can now import Netwealth reports via PDF, which will significantly reduce the amount of time and effort required to manually input opening balances for Netwealth portfolios. Learn more

Rename Documents: You can now rename files on the Documents screen. You no longer need to delete documents and re-upload them to rename them. Learn more

Digital Signature Reminders: You can now resend the original digital signature email to unsigned recipients, providing greater flexibility and convenience for signing documents. This feature saves time and improves the signing experience, particularly when the original email was accidentally deleted or not yet read. Learn more

Bulk Entity Setup: With this new feature, you can easily create multiple entities at once by simply uploading an Excel spreadsheet. Learn more

Plus, more new features and improvements. Links to previous update release notes are below: 


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