The SMSF Annual Return - New Screen

Overview

Before you can access the SMSF Annual Return (displayed as Tax Compliance on screen), you need to create entries to the end of the financial year.

The Create Entries process will pre-fill the SMSF Annual Return based on the information that you have entered into Simple Fund 360.

View Sections of the SMSF Annual Return

The current financial year will be selected by default.

Once the financial year has been set, to review sections in the SMSF Annual Return navigate by using the left-hand side menu.

Fund Information & Declarations 

Section A: Fund Information

Question 6: SMSF Auditor

• Date Audit was completed;
• Was Part B of the audit report qualified?
• If the audit report was qualified, have the reported compliance issues been rectified?

Question 7: Electronic service address alias

From FY 2019 onwards, users can select an electronic service address (ESA) from the drop-down list. If the fund registers SuperStream through Simple Fund 360, the ESA will be pre-filled as BGLSF360. (Registration can be done directly through Simple Fund 360 free of charge. )

Section K: Declarations

Input the following dates in Section K

• Trustee to sign the Annual Return which can be selected from the drop-down menu.
• Trustee's or Director's Signature Date.
• Signature Date.

Functions on the Tax Compliance screen

Icon	Explanation
	Click Show Last FY Comparison to display prior financial year figures under each relevant section in the Tax Compliance screen.
	Click Import, then select a Simple Fund Desktop Tax Return file to import the SMSF Annual Return into Simple Fund 360.
	Click Export to generate the selected SMSF Annual Return as a file.
	Print or produce a PDF version of the SMSF Annual Return
	Click Period Compliance to navigate to the create entries screen.
	Click Save to confirm any new information and changes made in the SMSF Annual Return.

The Annual Return can also be produced through the Reports screen.

Form Status (Workflow Status)

Select Form Status to update the workflow status of the fund's annual return.

You can change the workflow status and confirm who last edited the annual return under the Last Modified By column.

A return can manually be marked as lodged by clicking Mark as Lodged. This will change the status of the return to Lodged.

Workflow Statuses available: 

• Processed
• Validated
• Lodged
• Incomplete
• Lodged (Manually) 
• Saved/Edited
• Printed
• Sent to Client
• Assessment sent to Client
• Reviewed by Partner
• Assessment Paid 
• Assessment Received
• Sent to Partner

Amending Annual Returns

Amending Annual Returns can be done from directly inside Simple Fund 360. The following steps outline how to process an amendment for an Annual Return prepared within the software:

Note: Amend Annual Returns lodged outside of Simple Fund 360

The below instructions only apply to Annual Returns lodged from within Simple Fund 360.

Annual Returns generated and lodged outside of Simple Fund 360 can be amended from within the software. This is done by selecting Create SMSF AR amendment for externally lodged return.

• For more information on this process, see: Amend Returns lodged outside of Simple Fund 360

1. Before you can select the amendment option, you will need to lodge the Annual Return.
   If you are amending a return prepared in Simple Fund 360 that is not lodged, you will need manually update the status to lodged by selecting Form Status, then Mark as Lodged:
   
    
2. After the status is updated to "Lodged" (or marked as "Lodged Manually"), select Amend:
   
    
3. Fill out the details for the amendment, then select Create:
   
    
4. The amended Annual Return will be prepared. If you wish to delete an amendment that hasn't been lodged yet, select Delete Amendment Form:
   
   

Page numbering of the Annual Return

Electronic Lodgement Declaration

Through Simple Fund 360, generate the Lodgement Declaration which is required when the Annual Return is being lodged electronically.

The Declaration can be Printed from the Tax Compliance screen by clicking on the Validate button drop-down. 

Alternatively, print the Lodgement Declaration navigate:

From the Main Toolbar, go to Reports.
Select Letters/Minutes.

From the Letters/minutes section drag and drop the Lodgement Declaration to reports for printing.