Tax Statements Collection

Thank you for sending through the Tax Statement for FY2022. Please keep sending them so we can complete the task for 2022 as soon as possible. 

The Class team has been actively collecting copies of FY2022 annual tax statements to enter into our database. This database enables the function of generating automated tax statements on Class for the Class community. We would greatly appreciate it if you can provide us with the annual tax statements your funds hold.

To provide an annual tax statement, you can either navigate to Fund > Fund Documents and upload the tax statement, then send us an email with the fund code tosupport@class.com.auor email us a scanned copy of the tax statement (redact any sensitive information) tosupport@class.com.au.

You can monitor the FY2022 tax statements release process in Class via the links below:

1. Tax Statement Template 2022 - ASX Listed Securities (Completed)

2. Tax Statement Template 2022 - Managed Funds

3. Tax Statement Template 2022 - mFunds

Tax statements processing

Tax Statements on Class can be created in four different ways:

• Automatic - by generating them in the Tax Statement Console (for directly held investments only)
• OCR (Optical Character Recognition) - by uploading and extracting the data from a file in the Tax Statement Console
• Wrap/Platform feed - some data feed providers that support tax statements as part of their data feed
• Manually entered - when none of the other options is available.

This section of the Help Centre provides an overview of the above 3 options.

Tax Statement Console FAQs article provides answers many questions about this functionality. 

How to Enter a Tax Statement with AMIT and How to Enter a Tax Statement with Expenses are also a couple of very helpful articles. 

As we are drawing closer to the Christmas break, most of us will be prioritising the first wave of funds that can be finalised before enjoying our well deserve break.

Managing memeber pension & contributions

• Record contributions made to other funds viaContribution Capsto ensure that member contribution caps and total superannuation balance are accurately reflected in Class
• ReviewMember Consoleto track pension minimum requirement
• Ensure you have selected an actuarial provider that supports integration with Class onBusiness Settings

Exceptions report

• Check out the article on various validation checks that Class performs at year-end on your fund’s processing which appear on theExceptions Report.

If you would like to speak with a consultant, please complete thisformand a Class consultant will reach out to arrange a complimentary 1 hour Healthcheck session to assess how your business is using Class.