Capital Gains Relief Analysis - Proportionate

This report provides a list of all investments with open parcels as at 30/06/2017 (or today's date), with an acquisition date before 09/11/2016. This report has been specially designed to assist you to identify which investments will likely obtain temporary relief from certain capital gains that might arise as a result of:

• Individuals complying with the transfer balance cap of $1.6M
• Transition to Retirement Income Stream (TRIS) reform commencing from 1 July 2017.

It should be used for funds using the unsegregated (or proportional) method in determining its exempt current pension income, as in the proportionate method the cost base of CGT assets reset to market value is triggered through a deemed disposal and repurchase as on 30 June 2017 only.

1. Select the desired Output Format using the radio button
2. Shows when the Last Period Update (End Date) was run
3. You can select a Date between the pre-commencement period of 9/11/2016 to 30/06/2017 to run this report.
4. Selecting 'Yes'  to Report Header will turn on the report header logo
5. Selecting 'Yes' to Draft Watermark will turn on a draft watermark on each page
6. Page Footer/Number lets you either display both a page footer with date and time stamp, page numbers only or leave blank
7. The Group By option lets you group reports by Market Type, Asset Pool, General Ledger or Holding Reference
8. Allows you to Include Asset Codes (security codes) in the report
9. Exclude Losses option to exclude losses from the report

Capital Gains Relief Analysis - Segregated

Provides a list of all investments with parcels open as at 30/06/2017 or today's date, with an acquisition date before 09/11/2016. This report has been specially designed to assist with the CGT Relief under the Superannuation Reforms effective from 1 July 2017. It should be used for segregated funds to assist in identifying the most appropriate investment to move out of the segregated asset pool and at which date.

1. Select the desired Output Format using the radio button
2. Pre-filled text which shows when the Last Period Update (End Date) was run
3. Selecting 'Yes' to Report Header will turn on the report header logo
4. Selecting 'Yes' to Draft Watermark will turn on a draft watermark on each page
5. Page Footer/Number lets you either display both a page footer with date and time stamp, page numbers only or leave blank
6. The Group By option lets you group reports by Market Type, Asset Pool, General Ledger or Holding Reference
7. Allows you to Include Asset Codes (security codes) in the report
8. Exclude Losses option to exclude losses from the report

CGT Relief Application Minutes

This Minute / Resolution can be printed on completion of the CGT Relief Application event and details the assets that were selected to apply for the CGT relief.

This report also confirms the CGT relief method, the actuarial percentage (for CGT relief using the proportionate method) and the notional gain deferred amount and may be used for record-keeping purposes.

1. Select the desired Output Format using the radio button
2. Pre-filled text which shows when the Last Period Update (End Date) was run
3. Minute or Resolution to modify the report to a minute or a resolution
4. Enter Meeting Date to display where the meeting was held. (Default is to show a blank date)
5. Enter Meeting Address to display where the meeting is to be held (Default is blank)
6. Selecting 'Yes' to Report Header will turn on the report header logo
7. Selecting 'Yes' to Draft Watermark will turn on a draft watermark on each page
8. Selecting 'Yes' to Rounding will display rounding
9. Selecting 'Yes' to Dollar Sign will display a '$' in the report
10. Negative Amount gives you the option to display negative amounts with brackets or a minus sign
11. Note option enables users to 'Edit Note Contents'
12. Page Footer/Number lets you either display both a page footer with date and time stamp, page numbers only or leave blank
13. Signature option to choose a chairperson or all trustees to sign the minute

TBAR Declaration

The Transfer Balance Account Reporting (TBAR) declaration can be generated for a selected fund through the fund level menu > Reports > Run Report or multiple funds through business-level menu Reports > Report Package.

The declaration serves two important purposes:

• It allows the SMSF trustees to give permission to a registered tax agent to lodge TBAR records on behalf of the fund to the ATO through the tax agent portal electronically;
• It can also be used for record-keeping purposes to capture the details of TBAR records lodged to the ATO.

1. Select the desired Output Format using the radio button
2. Pre-filled text which shows when the Last Period Update (End Date) was run
3. Enter the Start Date at which the TBAR records should be captured
4. End Date is when the meeting is held.
5. Select the Record Type from the drop-down (Any TBAR records which is 'Incomplete' or 'Ignored' are not included in the declaration)
6. Signature option to choose a chairperson or all trustees to sign the declaration
7. Page Footer/Number lets you either display both a page footer with date and time stamp, page numbers only or leave blank

Transfer Balance Cap Commutation Letter and Minute

The ATO has issued a Practical Compliance Guideline (PCG 2017/5)  for commutation requests made by SMSF members to the SMSF trustees before 1 July 2017 to avoid exceeding the $1.6 million transfer balance cap.

This request enables members to commute their excess retirement phase income streams to avoid breaching the cap, even though the value of their holdings and the amount of the commutation required may not be known until after 1 July 2017.

One strategy to address is for a member to provide an instruction, which is subsequently accepted by the trustee of the SMSF, to commute their retirement phase income stream(s) by the amount that the value of the superannuation interests exceed $1.6 million by 30 June 2017.

Class has provided the following set of document pack to specifically address this compliance requirement:

• a Request letter from the member to commute the excess over the general transfer balance cap of $1.6 million;
• a Minute/resolution to specify the methodology allows the precise quantum of the commutation amount to be calculated and which pension accounts will be subject to the commutation in order of priority; and
• an Acknowledgement letter from the trustee to the member to confirm the request has been approved and the next course of action.

1. Select the desired Output Format using the radio button
2. Pre-filled text which shows when the Last Period Update (End Date) was run
3. Select an Allocation Order ( Either 'Low to High Tax Free %', 'High to Low Tax Free %', 'Oldest to Newest' or 'Newest to Oldest')
4. External Retirement Income Streams Exist to indicate whether a member has retirement phase income stream(s) outside of this SMSF.
5. Select Yes or No to Print Request Letter
6. Enter a Date of Request Letter
7. Letter Note can be edited by clicking on the 'Edit Note Contents' button
8. Print Request Letter to choose whether or not to print the minute
9. Minute or Resolution to choose between a Minute or a Resolution
10. Enter Meeting Date 
11. Meeting Address where the meeting was held ( If left blank, it will default to the fund address)
12. Minute Note can be edited by clicking on the 'Edit Note Contents' button
13. Print Confirmation Letter to choose whether or not  to print the confirmation letter 
14. Enter the Date of Confirmation Letter
15. Confirmation Note can be edited by clicking on the 'Edit Note Contents' button
16. Selecting 'Yes' to Report Header will turn on the report header logo
17. Selecting 'Yes' to Draft Watermark will turn on a draft watermark on each page
18. Page Footer/Number lets you either display both a page footer with the date and time stamp, page numbers only or leave blank
19. Signature option to choose a chairperson or all trustees to sign the minute