Adding the contact for a Lodging Party
When adding a Lodging Party contact, you need to ensure that the contact has an ABN attached if the lodging party is a tax agent or business intermediary.
If an ABN has not been added, Simple Fund 360 will display a warning message containing a link to update the contact's details.
|From the Main Toolbar, go to Settings.||
|Select Lodging Party from the list.||
- Add or edit the Lodging Party as normal. For instructions, see Adding a Lodging Party (Tax Agent).
- Once the details have been filled out, click save.
If the ABN for the contact is missing, a message will display. Select Click to edit:
A new tab will open on the contact's details. enter the ABN in the relevant field:
You can log in to Access Manager to confirm that the ABN is correct.
- Select save, then close the tab. Click save once again on the lodging party screen to save the details.
Updating the Lodging Party
If you already had a lodging party attached before creating entries, you do not need to reverse and re-create entries to update Section K in the SMSF Annual Return. You can follow the steps below to update the ABN.
- Go to Compliance | Tax Compliance.
- Under the SMSF Annual Return menu on the left-hand side, select Section K (Declarations).
- Select Update Lodging Party. This will update the ABN field under Section K: Declarations.