BGL Corporate Solutions, Australia's leading provider of SMSF administration, investment and ASIC corporate compliance solutions, is proud to announce the release of the 2021 Trust Income Tax Return in its investment portfolio software solution, Simple Invest 360.
“This is an industry first” said Ron Lesh, BGL’s Managing Director. “No other investment platform in Australia automatically prepares income tax returns. This is a fantastic achievement by the BGL product teams and I am incredibly proud of them”
The Trust Tax Return will be released in two parts to provide BGL Simple Invest 360 clients with the opportunity to provide feedback on the functionality of the initial features in Part 1 - the paper trust income tax return, while our team works hard to release Part 2 - Electronic lodgement.
“This release includes the 2021 Trust Income Tax Return populated from the Simple Invest 360 tax calculation engine, associated schedules including the CGT Schedule, Losses Schedule, Rental Schedule, Distribution Schedules and much more” added Lesh.
“Part 2 of the release will provide clients with the ability to electronically lodge the 2021 Trust Tax Return from within Simple Invest 360. This will be the same functionality as is provided for the SMSF Annual Return in Simple Fund 360” noted Lesh.
Simple Invest 360 was launched in June 2021 to automate the tedious process of CGT record-keeping and financial reporting no matter what the tax structure - trusts, companies, partnerships or individuals. Simple Invest 360 is fully integrated with CAS 360 and Simple Fund 360 as well as providing integrated accounting workpapers, digital signing, over 350 data feeds, registry integration and BGL SmartDocs - our industry leading paper to data solution.