SMSF Annual Return export now supported
From 2017 onwards the SMSF Annual Return can be exported to Xero Tax.
Please ensure that the following have been completed before attempting to export the Annual Return:
- You have nominated BGL as a software provider with the ATO
- Multiple software providers can be nominated at the same time.
- Nominating BGL as a software provider will not restrict you from lodging in different software.
we recommend that the tax return validation has passed before exporting.
Export from Simple Fund 360
Navigate to the Tax Compliance screen.
From the Main Toolbar navigate to the Compliance menu. Select Tax compliance.
Select Validate. (Recommended before Export.)
Once SBR validation is complete select Xero Export.
- The XML file will be downloaded and stored in your Downloads folder on your computer.
Import into Xero Tax Practice
To import the SMSF annual return into Xero, refer to the following Xero help:
- Once lodgement is complete, we recommend marking the annual return in SF360 as manually lodged. For instructions, see Manually Lodged Annual Returns.
Why do I have to nominate BGL as my software provider and validate the tax return before exporting?
- Nominating BGL as your software provider is a requirement that allows you to validate the tax return. As part of the integration agreement, it is a requirement that BGL passes all SBR validations before exporting the annual return. This also provides the benefit of allowing validation issues to be solved in SF360 prior to export.
Can I make changes to the annual return after I export it from SF360?
- We recommend making changes to the annual return prior to exporting. This is because any changes made after the export won't be saved in SF360 for future purposes.
If you do make any changes in Xero, we recommend replicating those changes in SF360 and re-validating the annual return to save the changes.