Skip to main content

TBAR Management

  • Updated

Overview

With the introduction of a general Transfer Balance Cap and a member's Transfer Balance Account, reporting these to the ATO through Simple Fund 360 can be easily managed via the new TBAR Management screen. The TBAR Management screen is a global screen allowing you to include multiple events across multiple funds in a single lodgement file which is to be uploaded and lodged via the ATO Portal. 

Navigation

Access the TBAR Management screen from Connect. 

From the Main Toolbar, hover your Cursor over Connect. mceclip0.png
Select TBAR Management from the list.

mceclip2.png

The TBAR Management screen is a global screen and will enable you to create a global TBAR file listing all events across your Simple Fund 360 database.

Select Fund View to return to the Transfer Balance Dashboard which will only show events for the fund selected.

f837abdf054e7a0791ee6ce653ef1025f62552406920e0dcf2dcaf2b8031996d.png

Global TBAR File Preparation 

1. Prior to preparing a TBAR file, ensure the prerequisites have been completed for each fund with an event to include in the file:

Prerequisites Explanation
Fund Financial Year and ABN Fund must be in 17/18 financial year onwards. ABN must be recorded in Fund Details. Analytical Insights can be used to review fund ABNs at the firm level.
Member TFN recorded TFN recorded for each member. Analytical Insights can be used to review member TFNs at the firm level.

Tax Agent attached to all funds

Ensure a Lodging Party (Tax Agent) is attached to the fund. The contact details of the agent must include:

Details
Contact Name
ABN
Phone Number
Street Address
Email Address
Transfer Balance Events The Transfer Balance Events to be added to the file have been recorded in the fund's Transfer Balance Dashboard.

2. From the TBAR Management screen select a Lodging Party.

c26a3a0a659f0bf3cc3f20b4f5a56363c219d8776f7954ad6843d1900ea94e1b.png

3. Click the checkbox to the left of the events to include in the global TBAR file.

ac8b444410bb199beb9eb8cef5135b4bc738a8ace52cbda97efa814e69d110d8.png

4. Select Prepare.

805f6abe3e659a4f8fcda4b8d919ceb75d22ac7a22b4f9bbd89469cee06a9716.png

5. Simple Fund 360 will run a validation check prior to producing the global TBAR file.

7b448e10e6d0097e7a7efb7257e5bbc5612c9ba648d9e924bf8dc59cf51859f4.png

6. The TBAR Electronic File will generate. Note: Select click here in the Validation Passed icon to download the file if it does not appear in your Downloads folder.

bc37ef7c7031b4e1c42c9b09003304720aaec4a205b9b90a85415ee47d52d172.png

7. The Event Batch will be validated. Events will be moved to the Prepared tab.

72de1dd1133ec26b4cc487b0a04a50e4104f7196b9e24f920b575f48b5efe6d8.png

8. For each Event Batch generation undertaken in the Outstanding tab, a separate Event Batch ID will appear for each validated group of transactions.

a18307b935b3ebd62918c38547144cc85849188539e712b5e5bcf2b235601231.png

9. You can prepare an XLS or PDF report detailing the event transactions; re-prepare the TBAR lodgement file if required or move the Event Batch back to the Outstanding tab for each Event Batch. Note: The XLS or PDF files are not lodging files. The lodgement file is generated in step 6. 

cc7ca47be1b8d66714049c7d7e8e3a764965bf5d95e062e5fb807092e7adca69.png

10. Proceed to the ATO Lodgement section of this help page for global TBAR file lodgement instructions.

11. Mark as Lodged

Post lodgement via the ATO Portal, select the check box to the left of the Event Batch ID under the Prepared tab and select Mark as Lodged. This will move the Event Batch to the Lodged column.

Note: Since the file lodgement is required to be completed via the ATO Portal this step cannot be updated automatically in Simple Fund 360.

33d0569731de0204210045bf97b7ca9040ec86fae610e0aab270220184989241.png

Lodgement of the global TBAR File

You can lodge the TBAR File generated by Simple Fund 360 through both the:

  • Tax Agent Portal
  • Business Portal

For more instructions, please view the Instructions section.

Trustee and other forms of TBAR lodgement: ATO: Reporting methods and lodgment

TBAR Lodgement Instructions

Set Up

Lodgement options:

To lodge a TBAR File through the Tax Agent Portal:

  1. Save the previously generated file on your computer or network
  2. Log in to the ATO Tax Agent Portal
  3. Navigate to Reports and forms and select File transfer:Snap8.png

  4. select the Lodge button to indicate that you wish to lodge the file:

    Snap9.png

     

  5.  Attach the TBAR file created in SF360, and tick the Declaration before Submitting the file for lodgment
    Snap10.png

    Alternatively, you may check the Test to indicate that you wish to test the lodgement of the file without lodging it.

    Once the TBAR file is successfully lodged, note the ATO receipt number and mark the file as lodged in Simple Fund 360. 

References: ATO - File Transfer

General Screen Filters

Outstanding

59032f5de5696a77f781ecd27f4041a00eb1091f7b841450858a582747ccdd46.png

Events generated from a fund's Transfer Balance Dashboard will appear under the outstanding screen.

 

Tab Filters Explanation
Mark as Lodged

33d0569731de0204210045bf97b7ca9040ec86fae610e0aab270220184989241.png

  • Previously lodged events can be Marked As Lodged.
Prepare TBAR

a7acfc8ffa6a200dfdbb3c305e0da67db57d1270cc311ec291c0d25d8ea81847.png

  • Use this option to validate events to be lodged.
Prepared
72de1dd1133ec26b4cc487b0a04a50e4104f7196b9e24f920b575f48b5efe6d8.png

TBAR events that have been validated in the Outstanding tab will appear under the Prepared section.

TBAR events that have been Marked as Lodged previously, but then Marked as Cancelled under the Lodged Tab will appear under the Prepared section.

 

Tab Filters Explanation
de31edb6a91fdd5a6bd1bdeb8983a191a6b7673fb4290b3803cf0230000052e8.png
  • Generate the Excel Summary report of the lodgement file.
a71de7f73ea9f49c18f40bc07644e24569803f00c1fcb38770e76c19ed64c880.png
  • Generate a PDF Summary report of the lodgement file.
b9cee9262b99d323eb8b3dfc1cbd36569c4aeeea6297b95718b44a49e1ec111f.png
  • Select to reprepare the TBAR lodgement file.
790f2945cb35d4db802f34d36e1d7bc8575e5f981e7774110e83b4415d34d705.png
  • Select to move the events back to the Outstanding tab.
Lodged
cb041f56991f0bb0ed94d6e5d5cd7a1bd240c0047b8785ed1b55234820bd0d6c.png

TBAR events Marked as Lodged will appear in this section.

 

Tab Filters Explanation
  • Select Reprepare TBAR to create the TBAR lodgement filed again.
521281e2ddc21713582f615321d44c9e02a0efecb6dc2d2cbcd52d1d9b12520b.png
  • Select Move to Prepared to allocate the events back to the Prepared tab.
  • If the lodgement date has been recorded incorrectly, select Move to Prepared to edit and change the lodgement date. Select Mark as Lodged to allocate the event back to the Lodged tab with the correct date.

dec7723f835e3637c82acbafb83f718c11e0faa8750818b0585bbae15cf28fea.png

 

  • Select Mark as Cancelled to update an event that was previously cancelled.
 
Filter Explanation
Search

52962170ee17fffdb050fb06bb32486b8bfaa7347bfc6121479d740355b28d60.png

  • Use the fund filter to locate events specific to a fund.
Intermediary

5f0fdb8ae593fb44380a47ce6f1ed25637ec2d0c28a0d75602edade3be517af9.png

  • Select a lodging party (tax agent) prior to validating TBAR events.
Due Date Filter

bf09aeb830ba719521e6ebdc99d4ab9be54ce336640d436f8e86e9b102b8399a.png

  • Use the due date filter to filter between Previous, Current or Next quarter due dates.
Financial Year

c3f8c00988ddf66cc33ff314fb4c2b3f024fcc8d0cd97936717ed5ab5e6698d6.png

  • Filter funds based on their financial year.
Lodgement Status Report

a84a39d2cbf7c0b084f678b93a6eec962a52c5d6e81775098672496dd1deecb4.png

  • This report will display the status of each event as prepared, lodged and cancelled.
Mark as Lodged

33d0569731de0204210045bf97b7ca9040ec86fae610e0aab270220184989241.png

  • Previously lodged events can be Marked As Lodged.
Prepare TBAR

a7acfc8ffa6a200dfdbb3c305e0da67db57d1270cc311ec291c0d25d8ea81847.png

  • Use this option to validate events to be lodged.

Mark as Cancelled

Update an event that was previously cancelled.

dec7723f835e3637c82acbafb83f718c11e0faa8750818b0585bbae15cf28fea.png

TBAR Cap Summary CSV

Download TBAR Cap Summary CSV across your entire firm to evaluate how your clientele will be affected by the indexation of the General Transfer Balance Cap. 
Was this article helpful?
0 out of 1 found this helpful
Return to top

Related articles