TBAR Management

Overview

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With the introduction of a general Transfer Balance Cap and a member's Transfer Balance Account, reporting these to the ATO through Simple Fund 360 can be easily managed via the new TBAR Management screen. The TBAR Management screen is a global screen allowing you to include multiple events across multiple funds in a single lodgement file which is to be uploaded and lodged via the ATO Portal. 

Navigation

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Access the TBAR Management screen from Connect. 

From the Main Toolbar, hover your Cursor over Connect.
Select TBAR Management from the list.

The TBAR Management screen is a global screen and will enable you to create a global TBAR file listing all events across your Simple Fund 360 database.

Select Fund View to return to the Transfer Balance Dashboard which will only show events for the fund selected.

Global TBAR File Preparation 

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1. Prior to preparing a TBAR file, ensure the prerequisites have been completed for each fund with an event to include in the file:

Prerequisites	Explanation
Fund Financial Year and ABN	Fund must be in 17/18 financial year onwards. ABN must be recorded in Fund Details. Analytical Insights can be used to review fund ABNs at the firm level.
Member TFN recorded	TFN recorded for each member. Analytical Insights can be used to review member TFNs at the firm level.
Tax Agent attached to all funds	Ensure a Lodging Party (Tax Agent) is attached to the fund. The contact details of the agent must include: Details Contact Name ABN Phone Number Street Address Email Address
Transfer Balance Events	The Transfer Balance Events to be added to the file have been recorded in the fund's Transfer Balance Dashboard.

2. From the TBAR Management screen select a Lodging Party.

3. Click the checkbox to the left of the events to include in the global TBAR file.

4. Select Prepare.

5. Simple Fund 360 will run a validation check prior to producing the global TBAR file.

6. The TBAR Electronic File will generate. Note: Select click here in the Validation Passed icon to download the file if it does not appear in your Downloads folder.

7. The Event Batch will be validated. Events will be moved to the Prepared tab.

8. For each Event Batch generation undertaken in the Outstanding tab, a separate Event Batch ID will appear for each validated group of transactions.

9. You can prepare an XLS or PDF report detailing the event transactions; re-prepare the TBAR lodgement file if required or move the Event Batch back to the Outstanding tab for each Event Batch. Note: The XLS or PDF files are not lodging files. The lodgement file is generated in step 6. 

10. Proceed to the ATO Lodgement section of this help page for global TBAR file lodgement instructions.

11. Mark as Lodged

Post lodgement via the ATO Portal, select the check box to the left of the Event Batch ID under the Prepared tab and select Mark as Lodged. This will move the Event Batch to the Lodged column.

Note: Since the file lodgement is required to be completed via the ATO Portal this step cannot be updated automatically in Simple Fund 360.

Lodgement of the global TBAR File

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You can lodge the TBAR File generated by Simple Fund 360 through both the:

• Tax Agent Portal
• Business Portal

For more instructions, please view the Instructions section.

Trustee and other forms of TBAR lodgement: ATO: Reporting methods and lodgment

TBAR Lodgement Instructions

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Set Up

• Setting up your Tax Agent Portal to lodge TBAR files
• Setting up your Business Portal to lodge TBAR files

Lodgement options:

• Tax Agent Portal - File Transfer (Instructions below)
• Business Portal - File Transfer

To lodge a TBAR File through the Tax Agent Portal:

1. Save the previously generated file on your computer or network
2. Log in to the ATO Tax Agent Portal
3. Navigate to Reports and forms and select File transfer:

4. select the Lodge button to indicate that you wish to lodge the file:
   
   

   
5.  Attach the TBAR file created in SF360, and tick the Declaration before Submitting the file for lodgment
   

   Alternatively, you may check the Test to indicate that you wish to test the lodgement of the file without lodging it.

   Once the TBAR file is successfully lodged, note the ATO receipt number and mark the file as lodged in Simple Fund 360. 

References: ATO - File Transfer

General Screen Filters

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Outstanding

Events generated from a fund's Transfer Balance Dashboard will appear under the outstanding screen.

Tab Filters	Explanation
Mark as Lodged	Previously lodged events can be Marked As Lodged.
Prepare TBAR	Use this option to validate events to be lodged.

Prepared

TBAR events that have been validated in the Outstanding tab will appear under the Prepared section.

TBAR events that have been Marked as Lodged previously, but then Marked as Cancelled under the Lodged Tab will appear under the Prepared section.

Tab Filters	Explanation
	Generate the Excel Summary report of the lodgement file.
	Generate a PDF Summary report of the lodgement file.
	Select to reprepare the TBAR lodgement file.
	Select to move the events back to the Outstanding tab.

Lodged

TBAR events Marked as Lodged will appear in this section.

Tab Filters	Explanation
	Select Move to Prepared to allocate the events back to the Prepared tab. If the lodgement date has been recorded incorrectly, select Move to Prepared to edit and change the lodgement date. Select Mark as Lodged to allocate the event back to the Lodged tab with the correct date.
	Select Mark as Cancelled to update an event that was previously cancelled.

Filter	Explanation
Search	Use the fund filter to locate events specific to a fund.
Intermediary	Select a lodging party (tax agent) prior to validating TBAR events.
Due Date Filter	Use the due date filter to filter between Previous, Current or Next quarter due dates.
Financial Year	Filter funds based on their financial year.
Lodgement Status Report	This report will display the status of each event as prepared, lodged and cancelled.
Mark as Lodged	Previously lodged events can be Marked As Lodged.
Prepare TBAR	Use this option to validate events to be lodged.
Mark as Cancelled	Update an event that was previously cancelled.
TBAR Cap Summary CSV	Download TBAR Cap Summary CSV across your entire firm to evaluate how your clientele will be affected by the indexation of the General Transfer Balance Cap.