Taking effect from the end of October, the latest release of SuperMate 4.2.2 includes a number of super reform enhancements, work flow enhancements, great new features for our online portal ‘ViewSuper’, plus a new dedicated training menu. 

Super reform – Transfer Balance Account Report (TBAR)

SuperMate release 4.2.2 will include TBAR reporting functionality. This TBAR option will generate a data file that can then be lodged using the business portal or the tax agent portal. This option of generating a data file to be uploaded to the portal will allow multiple member data records to be lodged. In SuperMate you will be able to generate the data file across all funds or a list of selected funds. To learn more the new TBAR functionality click here.

New standard letter templates for CGT relief

New standard letter templates have been added to SuperMate to assist you in minuting the decision to apply CGT relief in accordance with Section 294-110 or Section 294-115 of the Income Tax (Transitional Provisions) Act 1997. A new token was also introduced to the system for use in these templates.

CGT relief for segregated TRIS

The CGT relief process in the 2017 fund close has been updated to include nominated tax parcels that have been segregated to a TRIS in respect of a fund member.

Deferred Notional Capital Gain display

So that you are aware of the deferred notional capital gain attached/applicable to a tax parcel, a new ‘Deferred Notional CG’ column will now display on the following screens for superannuation funds:

• Tax Parcels
• Fund Review/Realised Tax Parcels tab
• Fund Review/Unrealised Tax Parcels tab

Also, the ‘View Tax Parcels’ extract has been updated to include a new deferred notional CG field.

You will also be able to enter any deferred notional capital gain when setting up the opening balances and investment information for a take-on fund.

Workflows

The new release makes it easier to use and create your own workflows. Amongst the changes is  the introduction of a new ‘Tasks’ panel that will display when you open SuperMate. This will assist you and your team to focus on tasks assigned, rather than processes. We’ve also made improvements to ‘Workflow Instance’, ‘Workflow Maintenance’ and ‘Workflow Designer’.

ViewSuper

Users of ViewSuper benefit from several enhancements.

• A new alert has been added to notify of maturing term deposits
• The ‘Notifications’ tile on the home tab has been updated to include any alerts for term deposits due to mature or passed maturity date and not redeemed
• The number of reports available in ViewSuper has been expanded
• We’ve added the ability to print data in certain grids or export the data to .pdf, Excel or .csv files
• New options have been added to the side menu for advisers and staff
• New widgets have been added and some have been enhanced
• Entering details of ‘Unknown Transactions’ has been made easier
• Columns have been updated on the ‘Investment Listing’ screen
• For super funds, a new ‘Deferred Notional CG’ column will now display on the ‘Current Holdings’ and ‘Previous Sales’ investment grids

Training for your team is easier to find

To get the most out of SuperMate we have a host of training resources that can be accessed from within the SuperMate system, and which are particularly useful for newer users and for those needing a refresh.

With release 4.2.2 these training resources will be easier to find, housed within a single ‘Training’ menu, prominently located in the main menu bar, next to the ‘Help’ menu.

Want to know more?

For further information about this latest release of SuperMate please refer to the Release Notes that can be accessed from the Help menu in SuperMate. There is also a short video which provides an overview of the changes. SuperMate’s online help functionality (F1 button) has also been updated to include information about these enhancements.

If you require further assistance, please email our support team at support@supermate.com.au or call the support line on 1300 359 335 (9am to 5pm AEST).