We have further enhanced our Income Streaming Beneficiary Distribution functionality:
- We have added the ability to create the Distribution based on the percentage allocations in the trust.
- We have added the ability to allocate the residual amount to any beneficiary mentioned in the trust deed. You can do this without having to manually calculate the remaining amount.
Non Income streaming Beneficiary Distribution
The below enhancements have been added to the Non Income streaming distribution screen
- Distribution based on percentage – This allows the accountant to enter the percentage of distribution based on the percentage allocations in the trust
- Allocate residual – This feature allows the accountant to allocate the residual amount to any beneficiary as mentioned in the trust deed without having to calculate the remaining amount
We've added 15 new corporate actions this month, see here for full details.
Fixes and Enhancements
- The White Label listing screen has been enhanced to deliver a better user experience.
- The CGT treatment for pre-CGT assets has been corrected for Non-SMSF entities so that the correct result is reflected in the Realised Capital Gains report and Tax Summary.
- We have corrected an issue with the member insurance premium rebate processed under the pension accounts so the rebate will be treated as taxable.
- The Excel Transaction Loader has been improved to include all the foreign markets that are supported by Class.
Business level report pack fixes:
- To show correct templates of Operating statement and Statement of financial position based on subscription for Class Trust
- Not display any values in the Statement of Distribution , Tax Accounting Reconciliation and Statement of Net Income for Class Portfolio entities
- Notes to Financial Statement report fix, to show the Closing Balance line, when the closing balance is $0.00 in Beneficiary Account Note