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BGL and Smarter SMSF support the SMSF industry in navigating legacy pension

By IndustryNo Comments

BGL and Smarter SMSF support the SMSF industry in navigating legacy pension

BGL Corporate Solutions is helping SMSF professionals navigate the complexities of legacy pension conversions as the Government introduces opportunities to transition to more flexible and sustainable retirement options.

From 7 December 2024, the Government announced new legacy pension conversion rules, including a five-year amnesty for the commutation of market-linked pensions, lifetime complying pensions and life expectancy pensions. With this change to simplify pension structures, SMSF professionals must carefully manage pension commutations, tax implications and compliance requirements to ensure a smooth transition.

Jeevan Tokhi, General Manager of Product at BGL said, “With this reform, SMSF professionals will need to be equipped with the right tools and knowledge. Technology will play a critical role in ensuring compliance and streamlining administration. BGL’s Simple Fund 360 simplifies SMSF for all administration, especially pensions. Our partnership with Smarter SMSF allows professionals access to expert documentation, calculators and ongoing education to ensure they have confidence navigating these changes”.

“The ability to transition out of legacy pensions is an important shift for SMSFs, but it also brings complexity,” says BGL’s Chief Executive Officer, Daniel Tramontana. “Professionals will need access to the right tools and support to manage any changes efficiently while ensuring compliance with ATO regulations.”

Aaron Dunn, CEO and Co-founder of Smarter SMSF added, “The introduction of the five-year amnesty is a major step for SMSFs and we are proud to support professionals through these changes. We emphasise the need for accurate data management and streamlined reporting in legacy pension conversion. To support this transition, our long-standing partnership with BGL allows us to deliver a seamless solution to help firms manage this transition”.

Key benefits of BGL’s Simple Fund 360 and Smarter SMSF’s solution for legacy pension conversion:

  • Expert Documentation and Compliance Support: Access Smarter SMSF’s comprehensive documentation and resources to ensure accurate and compliant legacy pension conversions.
  • Seamless Integration with Simple Fund 360: Manage pension changes with accurate reporting and automation tools that streamline SMSF administration.
  • Comprehensive Data and Record Management: Maintain accuracy and security with BGL SmartDocs AI-powered document processing.
  • Automated Pension Commutations: Reduce manual calculations and administrative workload with built-in automation.
  • ATO Compliance and Real-Time Reporting: Ensure regulatory compliance with instant reporting and integrated legislative updates.
  • Expert Support and Training: To navigate the transition confidently, access BGL’s extensive resources, including webinars and expert support.

To support SMSF professionals in understanding these changes, BGL and Smarter SMSF will host a free webinar on 29 April 2025. This session will cover:

  • The impact of the new legacy pension conversion regulations.
  • Key considerations for commutations and reserve allocations.
  • Practical guidance on handling conversions within Simple Fund 360.
  • Steps required to document commutations in compliance with the new regulations and fund governing rules.

For more information and to register for the webinar, please click here.

April 8, 2025
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Simple Fund 360 and Simple Invest 360 Product Update – 20 March 2025

By BGL Update, Simple Fund 360, Simple Invest 360No Comments

What's New?

Document Re-sync

In Simple Fund 360 and Simple Invest 360, documents are automatically attached when you allocate or update transactions using previously uploaded files. To reprocess all documents, go to the Documents screen and click Re-sync to link any matching transactions instantly. Learn More

BGL SmartDocs
ATO BAS Statements will now be automatically identified and previewed in Smart Matching whenever relevant transactions are detected. Learn More

Property Dashboard
Manage all properties at the entity or firm level with the new Property Dashboard. View expenses, income, valuations, net rent and related documents in one place. Additionally, store lease details and order property valuations seamlessly. Learn More

New Report
Asset Allocation by Investment Account report displays investments in a pie chart based on the control account. Learn More

Corporate Actions
5 new mergers have been added to Corporate Actions:

  • MKG: 6 February 2025
  • ABA: 19 February 2025
  • POS: 19 February 2025
  • MWY: 18 February 2025
  • EBG: 16 February 2025

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
GM – Product
E: JTokhi@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

March 26, 2025
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BGL recognised as a Great Place to Work® for Women

By CultureNo Comments

BGL is proud to announce that it has been named one of Australia’s Great Place To Work® Best Workplaces for Women for the 4th consecutive year.

“This recognition is a testament to the culture we’ve built at BGL, which focuses on supporting, valuing and empowering all members of our team at every level of the organisation,” said BGL’s Chief Executive Officer, Daniel Tramontana. “At BGL, we believe in providing equal opportunities based on values, skill and experience. By focusing on merit, we’ve built an inclusive, diverse workplace driven by collaboration and innovation.”

The 2025 Best Workplaces for Women list was announced on 6 March 2025. It celebrates organisations that consistently provide positive experiences for women while maintaining industry standards in gender balance and representation. To qualify, companies must be Great Place To Work-Certified, employ at least 50 women and have achieved statistically significant survey results that demonstrate a culture of respect, trust and inclusion.

BGL continues to lead workplace equity through leadership development, mentorship opportunities, flexible working arrangements and initiatives that support career growth in technology and professional services.

“Being recognised as one of Australia’s best workplaces for women is an incredible honour,” said Nadine Freitag, Head of People & Culture at BGL. “We’re super proud to have been featured on this list for the 4th year in a row. BGL is an organisation that genuinely supports and values women at every stage of their careers.” 

BGL remains committed to fostering a diverse and inclusive workplace and ensuring that all team members build successful and fulfilling careers.

For more information, please visit www.bglcorp.com. 

March 18, 2025
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BGL empowers accountants to meet new AML/CTF obligations with BGLiD

By BGLiD, IndustryNo Comments

BGL empowers accountants to meet new AML/CTF obligations with BGLiD

BGL is proud to introduce BGLiD – a seamless client identity verification solution designed to help accountants comply with upcoming AML/CTF legislative reforms.

In December 2024, Australia approved the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, extending AML/CTF regulations to include accountants. Under these new proposed rules, accountants must:

  • Appoint a compliance officer: An individual responsible for developing and implementing policies to meet AML/CTF requirements.
  • Provide comprehensive customer verification: Client identities must be verified based on services provided, client nature and transaction locations.
  • Report any suspicious transactions or behaviour indicative of illegal activities to the authorities.

These new requirements begin in March 2026. BGL’s CAS 360 corporate compliance solution, trusted by over 3,800 firms and managing over 1 million companies worldwide, helps clients comply with these new AML/CTF regulations with BGLiD.

“This new legislation will add new work for accountants and we want to help them get ahead of the changes,” said Warren Renden, General Manager of CAS 360, BGLiD and UK at BGL. “At BGL, we have developed our products, ensuring our clients have the right tools, such as BGLiD, to navigate through compliance seamlessly”.

BGLiD is a simple client identity verification solution seamlessly integrated with BGL’s CAS 360. It provides direct verification with government databases in Australia and also offers biometric verification, which enables clients to upload a photo ID and take a selfie via their smartphone to verify their identity.

Later this year, BGLiD’s capabilities will extend to Simple Fund 360 and Simple Invest 360, further enhancing client identity verification across BGL’s suite of products.

For more information, visit www.bglcorp.com/client-identity-verification-service. 

February 25, 2025
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BGL passes 1 million companies on CAS 360

By BGL Update, CAS 360No Comments

BGL is proud to announce CAS 360 now supports over 3,700 firms maintaining over 1 million companies on its company, trust and ID verification management solution.

This significant achievement solidifies CAS 360 as the software of choice for company secretarial compliance, providing unmatched support to businesses in Australia, Hong Kong, New Zealand, Singapore and the UK.

“We are incredibly proud of CAS 360’s journey,” said BGL’s Founder and Director, Ron Lesh. “Reaching 1 million companies is a testament to our team’s hard work and our clients’ trust in us. From day one, we had a goal to simplify compliance for businesses and this milestone highlights why CAS 360 is the global leader in company secretarial software.”

“Since its beginning, CAS 360 has been an invaluable resource for businesses, accounting firms and corporate service providers “ said Warren Renden, General Manager of CAS 360. “With continuous updates, including innovations like BGLiD and AI-powered automation, BGL remains dedicated to providing best-in-class compliance technology that helps reduce risk, save clients time and effortlessly manage their business.”

Launched in Australia in February 2017, CAS 360 quickly became the leading choice for managing company compliance, delivering industry-leading features such as automated Annual Reviews, company formation and document preparation. In less than 21 weeks, CAS 360 registered over 100,000 companies and has grown rapidly, expanding to many new jurisdictions.

“This is an incredible milestone for CAS 360,” said BGL’s Chief Executive Officer, Daniel Tramontana. “Our pursuit for innovation and our dedication to providing the right tools for firms across the globe continues. We’re not just building software at BGL we’re revolutionising how businesses manage compliance and this is only the beginning!”

October 2, 2024
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BGL Education provides expert-led BGL Product Training

By BGL Update, CAS 360, Simple Fund 360, Simple Invest 360No Comments

BGL is proud to announce the launch of its expert-led training series, BGL Education.

Starting 30 September 2024, BGL Education offers expert training to help clients unlock the full potential of their CAS 360, Simple Fund 360 and/or Simple Invest 360 investment.

“We’re thrilled to launch BGL Education as part of our ongoing commitment to client education and support” says BGL’s Founder and Director, Ron Lesh. “Our goal is to have every BGL client feel confident and equipped to make the most of our products. Our experts will lead a series of short webinar courses to ensure clients can learn directly from BGL professionals and unlock the value of the BGL Suite.”

Daniel Tramontana, Chief Executive Officer at BGL, added, “At BGL, we know that client success is based on knowledge and skills. Education is not simply a training program; it’s an opportunity to provide our clients with the tools they need to navigate confidently in an evolving industry.”

BGL Education will run from 30 September 2024 to 18 October 2024 and deliver specialised training across BGL’s software solutions. It will start with Simple Fund 360 covering topics such as Pensions, Superstream and SMSF Essentials. This will be followed by Simple Invest 360 covering topics such as income streaming and Division 7A loans. Finally, CAS 360 will wrap up with a week of company compliance training featuring webinars on Trust Management, Annual Reviews and more.

For more information and to register for each webinar individually, please visit bglcorp.com/education. 

September 30, 2024
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CAS 360 Update – 19 September 2024

By BGL Update, CAS 360No Comments

What's New?

BGL SmartDocs 360 and ASIC Invoices
Leveraging the power of BGL SmartDocs, a multi-award winning innovative AI-powered document reader, CAS 360 now extracts debt due dates, dollar amounts and line items from ASIC invoices. ASIC debt due dates are now included in Company Debt Alerts in the Company Selection screen. Learn More

Daily Summary Emails
The daily summary email feature is now jurisdiction-specific. Summary emails will only include key actions in CAS 360 since the user’s last login, tailored to the user’s jurisdiction as needed. Learn More

Please reply to this email or contact your Account Manager if you need any further information.

Regards,

Warren Renden
General Manager – CAS 360, Ecosystem and UK
E: Wrenden@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

September 19, 2024
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CAS 360 Update – 18 September 2024

By CAS 360No Comments

What's New?

BGLiD – Identity Expiry Report
An Identity Expiry Report is now available, providing a list of all individual contacts, their corresponding IDs, and expiry dates. Learn More

 

Automated Debt Reminders
The global automated debt reminder email will now always CC the Partner and Manager contacts. Learn More

Company and Trust Documents
The document screens now allow exporting filtered lists to CSV. Learn More

Documents
In several document templates, the term ‘A/C’ for shares/units has been changed to ‘Beneficially Held by’. Learn More

Company Listing Report
The Company Listing Report now displays company labels in the same order as the Company Selection screen. A Billing Contact merge field has also been added to the Company Listing Report and Report Setting screen. Learn More

RA62 Company Import
The RA62 Review Date Report model now lets users select the incorporation date or current date for shareholder balance transactions. Learn More

Contacts
Contacts with only a Guarantor relationship will no longer appear in the Not In Use filter in the Contacts screen. Additionally, Passport updates in the Passport History model will now be simultaneously reflected in the Contacts screen. Learn More

Document Production
The Dividends Paid Listing report can now be exported to Excel. Learn More

Email Templates
The Document Deadline Reminder template now supports an “Original Subject” merge field, returning the original email subject when the documents were prepared. Learn More

Please reply to this email or contact your Account Manager for further information.

Regards,

Warren Renden
General Manager – CAS 360, Ecosystem and UK
E: Wrenden@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

September 18, 2024
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CAS 360 Update – 9 September 2024

By CAS 360No Comments

What's New?

Director and Secretary Appointment
The ability to appoint a person as Director and Secretary in a single officer transaction has been added. To complete the transactions for both roles, simply select the new ‘Director & Secretary’ option during the officer appointment process. Learn More

Trusts Selection Screen
A new ‘All Trusts’ filter has been added to the Trusts selection screen. Learn More

Post-Incorp Documents
The Notice of Beneficial Ownership is now included in the post-incorporation document set on the document production screen. Learn More

Company Report
Advanced options have been added to Show Company Addresses in Company Report settings. Learn More

Form RA71: After Form 362 is accepted, there will be a 60-second delay before the automated lodgement of Form RA71. This ensures ASIC has time to acknowledge Form 362. Learn More

General Details: The General Details screen now includes an optional financial year-end date field. Learn More

Company Deregistration: The Company Deregistration Members Consent templates now include a field for the member’s signing date. Learn More

Company Registrations: When purchasing a Smarter SMSF Company Constitution, the Company Name and ACN fields will be automatically populated using the information entered in the Company Registration screen. Learn More

Plus, many more new features and improvements.

Stay tuned for future releases!

Warren Renden
General Manager – CAS 360, Ecosystem and UK
E: Wrenden@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

September 9, 2024
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