Events based reporting has undergone an impressive transformation. It changed from affecting every SMSF to only affecting funds with a balance of $1m or more. And it changed from a tight schedule of 10 days after month end to a much more lenient deadline of 28 days after quarter end. How did this turn around come about?
The finalisation of real-time reporting for superannuation has left BGL’s managing director Ron Lesh dismayed by the lobbying efforts of some of the major representative bodies for accountants and advisers, which he believes were “nowhere to be found.”
Following the ATO’s final position on event-based reporting, BGL’s managing director says he was “unimpressed” by the lack of lobbying action undertaken by some of the major accounting bodies.
Heffron SMSF Solutions has announced an integration with software firm BGL Corporate Solutions, which will enable users to access its actuarial certificate service through BGL Simple 360.
An SMSF services company has firmed up a partnership with accounting software provider BGL Corporate Solutions, which will enable users to access its actuarial certificate service through BGL Simple 360.
Segments of the SMSF industry are still concerned about moving to the cloud as it will result in some fundamental changes to how they currently interact with clients, according to software veteran.
The Australian Taxation Office (ATO) has recently finalised the approach for SMSFs to comply with the introduction of reporting various debits and credits against a member’s transfer balance cap. It has been a process of going back and forward with the industry, with the ATO having initially landed on a decision, only to be taken to task over the additional cost and compliance burden that was being imposed, not only on trustees, but the professionals who have endured enormous workloads due to the reforms, in addition to the ongoing problems with stability of ATO systems.
BT Financial group has announced a partnership with software provider BGL Corporate Solutions, in a move that it hopes will help accountants make the most of BT Panorama’s self-managed superannuation fund (SMSF) solution.
BGL has increased its activity for building data integration with the accounting community through its cloud products, Simple Fund 360 and CAS 360.
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