Non-Concessional Contributions via Excel Loader - users can now upload historical Non-Concessional Contributions via the excel loader. The Excel loader will automatically capture when the Bring Forward Rule was triggered, streamlining transitions into Class.
Work Test Exemptions for Contributions – updates have been made in various areas of the application to incorporate the changes to age limit restrictions that came into effect on 1 July 2020. The change to age restrictions will impact superannuation contributions (both concessional and non-concessional) as well as spousal contributions.
Bell Potter Securities now supports International markets. Customers with a Bell Potter Securities data feed will be able to receive automated transaction and balance data for any foreign investments, reducing manual data entry that was previously required to enter this data into Class.
The authority process for Morgans Financial has been updated. Customers will be able to download an updated authority form to activate Morgans Financial Data feeds. These feeds will also be electronically sent to the provider when uploaded to Class to simplify the activation process.
We've added 10 new corporate actions this month see July 2020 Corporate Actions for full details.
Fixes and Enhancements
- We have improved the processing of Term Deposit transactions in the Mason Stevens Global Investment Services feed. Customers will see improvements in the processing of their transactions and a reduction in the manual work required to backfill missing data.
- The Manual TBAR event and the Fund Transfer Data report - TBAR history export has been enhanced to cater for records that are dated 30 June 2017.
- We have improved the tax return validations to allow SMSF tax returns to be lodged with blank member TFN.
- Users will now be able to see the pension identifier as part of the TBAR lodgment history export
- A minor update has been done to the Auditor Report to align with the Auditor Report Template.
- The Payment Date column header of the Investment Income Detailed Report has been renamed to Tax Effective Date to align with the information displayed.
- To prevent downstream issues, users will now be warned if the payment date is before the accounting date for the following income events:
- Distribution - Cash
- Distribution - Reinvestment
- Dividend - Reinvestment
- Foreign Income
- Interest Received
We've added a new guided walkthrough How to create a custom holding account. This will assist you when setting up a custom holding account, which is typically used to account for items such as borrowing cost or Wraps/portfolios recorded as a one-line asset.
Privacy and Fair Use
- Our Fair Use Policy, available here, has also been updated to clarify that nothing in the Fair Use Policy limits any of our rights or remedies under the agreement by which users use Class services, including any termination or suspension rights.