Features

Whether you are a professional financial advisor or an individual trustee, Simple Fund has all the functionality you need to comply with Australian superannuation and SMSF requirements.

Super Simplification

BGL made the July 2007 transition to the new super regime simple for clients. Simple Fund allows clients to process funds under the new and old rules, and clients can choose when to adopt the new rules for each individual fund. The Super Simplification transition software introduced enhancements that cover:

  • Simplified super terminology
  • The ability to handle contributions to members with no TFN's
  • A new financial year balance forward process to allow users to initiate crystallisation, i.e. calculation of taxable and tax free balances
  • Changes to reports and data input screens to assist administrators checking contribution cap limits
  • New Minimum Account Based Pensions and Transition to Retirement Income Streams
  • Ability to convert existing allocated and Market Linked Pensions to the new structures
  • Pension / RBL screen handles income tax changes for members over 60 years of age
  • Benefit screens and reports updated to the latest ATO designs
  • New section 290 - 170 notices for self-employed individuals to assist members claiming their super contributions as a tax deduction
  • Updated help resources to reflect changes including a Simplification Training Guide

Simplify Calculations

The key to Simple Fund is its simplicity and intuitiveness, Simple Fund will automatically:

  • Revalue investments to market value
  • Allocate amounts to fund members
  • Calculate exempt pension income
  • Calculate Income Tax and Regulatory Return amounts
  • Calculate Member Contribution Statements
  • Calculate Business Activity and Instalment Activity Statement amounts
  • Details of all calculations are recorded and saved in an Adobe PDF, MS Word or MS Excel file for audit review.

Simplify Reporting

Simple Fund prepares a full set of annual reports for superannuation funds. The reports prepared include:

  • Reporting and non-reporting compliant financial statements
  • Investment reports and graphs
  • Trustees' Statements
  • Auditors' Reports
  • Statement of Taxable Income
  • Provision for Deferred Tax Reconciliation
  • Income Tax Returns
  • Annual Trustees' Minutes / Resolutions
  • Members' Statements

In addition:

  • Documents can be viewed, printed or exported to Adobe PDF, MS Word, or MS Excel files and emailed to clients or business associates.
  • Simple Fund incorporates BGL Chart, a highly sophisticated program that enables users to prepare two and three dimensional charts to compare the asset performance of their funds.

Innovation and Data Integration

BGL has been driving the SMSF compliance industry through innovative initiatives such as our Capital Gains Tax Optimiser which ensures the best CGT result for funds, and our Audit Workpapers module which provides a full set of audit working papers and a compliance checklist to guarantee audit compliance. Simple Fund also includes asset pooling, asset allocation and extensive data imports from adviserNET, BankLink, BT Wrap, Macquiarie Wrap, MYOB, Praemium, VisiPlan, XPlan and internet banking from Australia's top 5 banks.

If you would like to learn more about Simple Fund, contact the BGL Sales and Marketing Team by email at info@bglcorp.com.au or call BGL on 1300 654 401.