29 Aug 088 More on 2008 super fund returnsMEMBER 2 writes:
"While waiting for my software provider to provide some software, I completed a paper Super Fund Return for the auditor. I questioned the ATO about the lack of an opening balance for members’ accounts and was advised that that particular section is not required to "balance" It appears that the software providers off their own bat decided that a sum was required, and being computer geeks, not accountants, did not understand that there could not be a balance using the information required on the ATO form.
The attempt to integrate tax forms with other accounting processes is fraught with danger - really, all we want is the Form in a way that can be sent to the ATO by ELS so we can get our refunds fast. Well there is a thought; was it a plot to hold up all those juicy allocated pension fund refunds - I had $37,000 in four Returns held up for a month before I got the software - with no apology from the provider!"