• Tax Time 2025
• Transfer Balance Cap Indexation
• Tax Statement Console
• Member Account Transfers
• Data Feeds
• Share Registry Connections
• Other Updates & Fixes

Tax Time 2025

• SMSF Annual Return: 2025 Tax stationary is now available. You will need to roll back any Tax Finalisation to lodge wind up funds. There are no field changes this year but some minor updates are documented here.
• GIC not deductible: General Interest Charge (GIC) community level expense account has been updated to be non-deductible. You can override deductibility at the transaction level to record transactions prior to 1 July 2025.
• Trust Tax Return field changes: Several field changes to the 2025 Trust Tax return, find out more here.

Transfer Balance Cap Indexation

• Transfer Balance Indexation: General Transfer Balance Cap indexation to $2 million occurs on 1 July 2025. Indexation of eligible member’s Personal Transfer Balance occurs automatically in Class, refer to details here.
• External super funds: Record external super fund balances for members to ensure Class reflects the correct Transfer Balance Cap. 

Tax Statement Console

• Bulk generate by ‘distribution date’: We’ve extended the ability to generate Tax Statements in the Tax Statement Console using ‘distribution date’ in bulk. This is useful for funds switching between deemed segregated and unsegregated periods during the year. Find out more here.
• New field validation: To prevent errors when lodging the Trust Income Schedule, we’ve added a validation to check negative figures in the Tax Statement. You can now only enter negative amounts in the AMIT and Tax Exempted field.
• Enhance error message: We’ve improved the error messages when a Tax Statement includes a distribution with a negative amount.
• Bug fix: We’ve resolved an issue that caused Period Update errors when generating a Tax Statement from the Tax Statement Console. Now, when a security is fully disposed during the year and a Tax Statement with a Capital Return or AMIT is entered, the parcel date for these adjustments will correctly apply the Tax Statement date not 30 June.

Member Account Transfers

• Cap Free Field: A new field has been added to the Member Account Transfer screen to facilitate cap free reserve allocations from pension reserves. This allows reserve allocations to occur without reflecting in a member's contributions caps, find more details here.

Data Feeds

• Data feed upload message: Improved the error message to help troubleshoot the reason when the data feed form upload fails.
• Elston feed upgrade: The Elston feed has been successfully upgraded. All existing feed activations will resume from 23rd June 2025. Any missing data will be reloaded once the feeds are live, more information here.
• Accolade feed upgrade: The Accolade feed has been successfully upgraded. All existing feed activations will resume from 23rd June 2025. Any missing data will be reloaded once the feeds are live, more information here.
• FinClear feed enhancement: The FinClear feed has been upgraded to support foreign trade and balances from 23rd June 2025, more details here.

Share Registry Connections

• New product created: A new Feeds product called ‘Other – Broker Sponsored’ has been added to the list of Broker products. Use this product when the actual product doesn’t exist, if you want obtain share registry information from that feature. Find out more in this Knowledge Base article here.

Other Updates & Fixes

• Share Registry connectivity issue: Resolved an issue causing inconsistent connection status in the share registry. The connection status now updates reliably and reflects the correct status.
• Docusign sender name: We’ve removed the long sender name from the docusign e-mail notifying signers. Businesses that haven’t customised the Electronic Signature White Label previously will need to follow the steps detailed here.
• Docusign phone authentication: docusign has enhanced phone authentication by providing an option for signer to authenticate using phone call in addition to SMS.
• Trust Tax Return Cross Form Validation: Resolved an issue where cross form validation was not run correctly when clicking validate all, so that users can now see all issues on the console.
• Trust Tax Return PDF report: Resolved a CGT mapping issue for the Trust Tax Return in the PDF. The data is now accurately reflected and correctly formatted.
• Trust Tax Return Discard and regenerate: Introduced a new popup notification to remind users to use the form with the latest tax finalisation data.
• Foreign Corporate Action: A fix has been applied to rectify some incorrectly processed foreign corporate actions since Feb 2025 that were split/consolidation. If you have already processed these actions, we recommend reprocessing them if necessary.
• Feeds Automatch Tolerance: We’ve temporarily disabled this functionality whist we work on reliability improvements to matches, stay tuned for more updates.
• BSB Upload: The latest BSB file has been uploaded and refreshed. It now includes BSB details for the new financial institutions BNK and Bano.
• Corporate Actions: Class has added support for 53 new Corporate Actions for June details are documented here.
• LIC Deduction: The LIC Deduction page for FY25 has been updated. Securities with LIC deductions need to be manually recorded against the dividend event in Class, details here.