SMSF Sorted End of Financial Year Update 2021

SMSF Sorted End of Financial Year Update 2021

Release Overview - End of Financial Year update (2021)

The following updates have been released to SMSF Auditomation to ensure compliance with new rates, rules and regulations that come into effect on 1 July 2021

  • Work Test observation updated
  • 50% reduction applied to FY 2022 minimum pensions as a result of Government COVID-19 measures
  • Transfer Balance Cap indexation. TBAR workpapers are also affected by this change and have been amended accordingly.
  • Market Value Observations for shares and managed funds have been update to take into account prices available for 30 June 2021*
    *NOTE: Not available until 1 July
If you find these new updates are not appearing for you, we recommend you follow the steps outlined in the article below:
Why can't I see features from the new release?

To learn more about the process , explore best practices, and make the most of our features, please visit our Knowledge Base. You can also check our FAQ section for answers to common questions, or contact our Support team if you need any assistance.

    • Related Articles

    • SMSF Sorted Workpapers

      Introduction We have introduced comprehensive workpapers to support the preparation of Financial Statements. This article outlines how to access and utilize this feature, as well as the types of workpapers available and how they can assist with ...

    • SMSF Sorted 2020 Release Summary

      SMSF Sorted 2020 Release Summary As it was with Auditomation all of those years ago, following the initial release most release updates contain more tweaks/fixes than substantial enhancements. With this said, below is a summary of our initial ...

    • SMSF Sorted Release 2.5

      Release Contents New in SMSF Sorted 2.5 We have introduced an exciting new financial workpapers feature to SMSF Sorted. As part of this initial release, workpapers will be available for Property, GST reconciliation, and Tax reconciliation These will ...

    • How to efficiently Review with SMSF Sorted

      Introduction In the dynamic world of SMSFs, staying organised and efficient is important. For reviewers using SMSF Sorted, a well-structured workflow can make all the difference in ensuring a thorough review of financial data and associated ...

    • SMSF Sorted release 3.1

      Introduction We are pleased to announce the release of our new data Sync feature which will help maintain data across both SMSF Sorted and Sorted Lite. Accountants and Administrators can now upload and bookmark documents in either Sorted Lite or SMSF ...