- Users are now able to reset their multi-factor authentication (MFA) in the Class app. This will provide users with an option to reset their MFA even if they have the ‘Remember this device for 30 days’ option selected.
- When a Trust product is selected in Class and registered for GST, the ‘Claim 100% GST Credit for RITC will be defaulted to "Yes". This will ensure Trust entities are claiming the correct GST credit.
- A new field has been added to the "Fund Details" page called "Trust Type". This provides users with the ability to capture the Trust type (e.g. Discretionary, Unit, Fixed etc.) for the Trust product in Class.
- Class now allows you to view TBAR records for suspended funds. Users can now have a full view of their client’s outstanding TBAR records for suspended funds to keep the TBAR lodgment obligations up to date.
- Users are now able to export a CSV file containing TBAR records from the Class fund level TBAR console screen, with the same formatting as the ATO portal. This provides users with the ability to reconcile the TBAR records against the ATO portal and keep a copy in their client's files
- We've improved support for mFund securities in Class. mFunds will now support income generation and asset allocation in line with Managed Funds functionality. To reduce the risk of creating duplicate income, community-level data for mFunds will only support the new income announcement from Monday 2 September 2019.
- We're updating the process for any feeds that use account holder authority to activate feeds. Some feeds with authority forms will now have their forms electronically sent to the providers when they are uploaded to Class. Users will not need to send the form to both Class and the provider, simplifying the activation process by uploading the form only to Class.
- Products currently supported by electronic delivery capabilities include:
- ANZ Bank
- Bell Direct
- Bell Potter
For a full list of supported feeds and look for those marked as "Upload the form".
- Class has added three foreign exchanges, bringing the total number of foreign markets supported to 20. Users will be provided with automated security, pricing and asset allocation for any assets on these markets for better reporting and valuation capabilities.
The following exchanges have been added to Class:
- Weiner Boerse AG (Austria)
- NASDAQ Helsinki (Finland)
- Bolsa de Madrid (Spain)
- We've updated Foreign Asset support to a number of broker feeds, allowing you to take advantage of our ability to automate transaction data for you and reduce your manual work. Feeds with newly added Foreign Asset support include:
- Ord Minnett Stockbroking
- Paterson Securities
- Wilson HTM
For a full list of supported feeds, click here.
The following corporate actions have been added into Class to allow users to process for those affected funds either individually or in bulk with just a few clicks:
Ardent Leisure Group (AAD) has undergone a Corporatisation Restructure to become Ardent Group Limited (ALG) (24/12/2018)
Nippon Paint Holdings Co Ltd has acquired all the DuluxGroup Limited (DLX) issued shares for $9.37 per share (21/08/2019)
Legend Corporation Limited (LGD) was acquired by Greenland Bidco Pty Ltd (a company owned by funds managed by Adamantem Capital) for $0.295 per share (30/08/2019)
Verdant Minerals Ltd (VRM) was acquired by CD Capital Nature Resources Fund III LP for $0.032 per share (18/06/2019)
Wesfarmers Lithium Pty Ltd (a wholly-owned subsidiary of Westfarmers Limited (WES)) acquired all of the issued shares in Kidman Resources Limited (KDR) for $1.90 cash per share (23/09/2019)
Agrium Australia Pty Ltd (a wholly-owned subsidiary of Nutrien Ltd and related body corporate of Landmark Operations Limited) acquired all of the issued shares in Ruralco Holdings Limited (RHL) for $4.40 a share, this includes a fully franked special dividend of 84 cents per share (30/09/2019)
We've released a fix to resolve issues where Crestone CMA accounts were being merged into the same holding in Class. This allows better reporting of individual cash holdings for Crestone feeds.
We've corrected disposals in the Colonial First Choice feed. Users with Colonial First Choice feeds will have disposals loading correctly into Class to reduce manual corrections required.
The Corporate Actions console now behaves more consistently and intuitively when filtering
Class now supports the calculation of unused concessional cap for members in newly established SMSFs. This allows users and their clients (through Client View) to easily access information regarding how much they can contribute for the financial year.
We've added three new guided walkthroughs to help you with the following in Class:
- Creating custom income and expense accounts
- Changing investment codes
- Create a new bank account including foreign cash