Welcome to the April edition of Class FAQs.
Now is the busy period for SMSF processing and lodgements. We would like to draw your attention to some of the processing tips in our help center. Check out the useful articles below:
- Common Period Update questions
- Common Annual Return lodgment questions
- Common Corporate Action processing questions
- Insights and knowledge on how to process property related transactions
- Tax statement processing: Summary of Knowledge Base Articles
- Check out all articles on Actuarial Certificate
- Making payments to trustees: you may need to commute part of a pension, and process Rollover/Lumpsum out
Did you know that Class' bulk processing functions will save you time and effort?
- Bulk processing corporate actions at the business level
- Bulk Generate Income and Automatch at the business level
- Process Authority forms for Datafeeds in Bulk at the business level
Member Console
Tracking contribution and pension withdrawals made is important as end of the financial year draws closer. You can utilise Business Level Member Console to see the current accumulation and pension details of all members of SMSF in your Class Business. Additionally, you are also able to create Pension Reviews minutes for trustees and members to sign.
Managing TBAR events
TBAR lodgement due date is around the corner. You can use Class TBAR console and keep personal transfer balance cap amount up to date.
Managing TBAR events on Class:
• TBAR Console: Generate TBAR files for reportable events and lodge through Tax Agent Portal.
• Manual TBAR Event: Record TBAR events that were lodged or created outside of Class or make adjustments to a member’s Transfer Balance account.
• Review member console to track member’s personal transfer balance cap.
To view the FAQ newsletters from past months, please click here.
If you have any questions regarding the articles above, please feel free to contact Support on 1300 851 057 or email support@class.com.au.