BT Panorama hints and tips

Participation in DRPs is available for BT Panorama Investment accounts with the nominee holding option or sponsored holding option. This is not available with the custodial holding option or for BT Panorama Super accounts. To participate in DRPs, select the client's account, then go to Portfolio views > expand the Listed securities section to view the relevant security > under Dividend, select ‘Cash’ to change the dividend preference from 'cash' to 'reinvest’.

A cash investment strategy, or 'automatic reinvesting', allows surplus cash to be reinvested into existing managed funds, managed portfolios, or tailored portfolios. For more information on how to set this up, please visit BT Panorama Help & Support > Managing your clients > Cash Management > Cash Investment Strategy.

The tax statement estimator tool provides an estimated date using information we receive from fund managers and share registries or, if we haven’t yet received that information, then the dates for the previous financial year. There may also be other reasons outside our control for why the statement is delayed. The dates provided in the estimator tool are subject to change.

You can find the formula in the footnotes of the Centrelink Schedule. For reference, the formula is (Sum of all Payments expected for that FY ÷ Number of Days from Commencement date until 30 June) x 365 (366 for leap years).

Where there’s insufficient cash to cover a pension payment, we’ll sell down a proportion of a client’s investments to generate the required cash.

During the EOFY period, there can be delays in the striking of unit prices, in distribution and dividend payments, and in asset redemptions, which can impact a client’s cash balance.

The combination of these factors can cause pension payments to be delayed.

Once a PTDN (Personal Tax Deduction Notice) has been submitted, we begin deducting tax from the client's account in the following month's Monthly PAYG Instalment. Please login to BT Panorama and refer to Help & Support > Panorama Year End > Panorama Super and Tax Guide for further information on when tax is deducted from Panorama Super accounts.

Please login to BT Panorama and visit our Help & Support page > Business and Admin > Panorama Year End > Statement Dates > click the link to our 'Calendar', to find a list of our Annual and Tax Statements for Super and Investment accounts, and PAYG Statements for Pension accounts.

During the EOFY period, there can be delays in the striking of unit prices, in distribution and dividend payments, and in asset redemptions, which can impact a client’s cash balance and cause pension payments to be delayed. If any of your clients have pension payments scheduled for July 2024, we recommend checking they’ll have sufficient funds in their transaction account. And if they don’t have sufficient funds, you should consider selling down assets before 28 June to generate the required cash.

Distribution reinvestment may not be available, due to the following reasons:

• The fund manager does not offer a reinvestment option.
• Your client is a foreign resident.
• Your client is an Australian resident but have not provided a TFN.
• The fund is removed from the APL (Approved Asset List).
• The fund has been closed to new and existing clients.

During the EOFY period, there can be delays in the striking of unit prices, in distribution and dividend payments, and in asset redemptions, which can impact a client’s cash balance.

If any of your clients have pension payments scheduled for July 2024, we recommend checking they’ll have sufficient funds in their transaction account, to make their pension payment.

To avoid a delay to any pension payments, you should consider selling down assets before 28 June to generate the required cash.

When you’re logged into BT Panorama, go to the ‘Tracking’ tab and select ‘Account Applications’. Select the filter icon and ensure that ‘Active’ is also ticked. Then select ‘Apply Filters’. Finally, from the ‘Last Updated’ menu, select ‘More than 12 months ago’.

Annual Investor, Tax & Audit Reports are all found in the Document Library on BT Panorama. Simply search for the client’s account and then you can navigate to Document Library> locate the relevant Annual Investment Statement > select the action menu option called ‘Download Annual Audit Report’.

Yes. Any changes that are made to a client’s residential address on their Westpac Banking profile will also be reflected on their BT Panorama account. In this case, only clients have access to change their residential address. It cannot be changed by the adviser.

How can I tell if my client’s BT Panorama account is linked to their Westpac Banking profile?

From the BT Panorama home page, search for the client’s account, then navigate to Account Details> select the client’s name > Username. If the Username appears blank this means the client’s BT Panorama account is linked to a Westpac Banking profile.  They can use the same login details that they use for Westpac Online Banking to also login to BT Panorama.

Yes, if the digital consent method is selected and is accepted by the client. For more information, please head to the Help & support section on BT Panorama > Managing your clients > Digital consent > Request consent for bank accounts.

Withholding tax forms can be found on BT Panorama by navigating to Products (left hand side) >Listed securities> Withholding tax documents. To determine which form you need, you can download “Instructions detailing withholding tax forms applicable to specific assets”.

The applicable rate reductions can be found in the relevant ‘Terms and Conditions, fees and general information’ booklet. These booklets are available on BT Panorama, under Products (on the left-hand side menu) > select Term Deposits > select the relevant booklet.

You can do this online via BT Panorama. Login as a Dealer Group or Practice Managers, navigate to Business > User and business entities. If registering for new access, select ‘Register user’. If amending existing access, find the user from the list and select the relevant action from the drop-down menu on the right-hand side.

Alternatively, a form is available on BT Panorama Help & support> Forms > Adviser Access / Support Staff Access Form.

For more information regarding managing users, please head to Help & support > Business & Admin > Users & Business Entities > Manage Users

The benefit of franking credits is allocated to pension accounts annually once the Fund tax return has been finalised, which is usually around January to March each year. More information including how franking credits are distributed, please read page 6 of the BT Panorama Super Tax Guide and you can get the copy by heading to the Help & ).port > Business & Admin > Panorama year end > Panorama Super and Tax Guide (refer to page 6).

For investment products, franking credits are reported on the annual tax statement which can be lodged with the ATO as part of your client’s individual tax return. 

Yes, you can. However, any trades placed in this phase will have the tax implications of an accumulation account. Also, the pension cannot be commenced until all pending orders have settled.

If the account is a pension account that was migrated from BT Wrap, you will not be able to place trades until the pension has commenced.

Note: To know whether an account was migrated from BT Wrap, go to your client’s account on BT Panorama, and head to Account details. where you’ll find the migration date, if applicable. 

They can access the accumulated funds in the account up until the date that COR is valid for, i.e., the date your client signs as ceasing employment under this COR.

Regardless of whether the balance is pushed higher due to any contributions, income or even market movement, the original value of the accumulated funds in the account as at the signed date is all that can be released under this particular COR.

Visit the ATO website, www.ato.gov.au and search for “Conditions of Release“ for more information

To find your client’s username, you’ll need to log into BT Panorama. Navigate to the BT Panorama home page> Clients> Select a client’s account> Click on the blue bar at the top of the screen> Select your client's name> Scroll to find your client's username.

Note:

• If the username field is blank, your client can login to BT Panorama by using the same login details they have for the Westpac Online Banking.
• If the username field displays a mix of letters and numbers, then this is likely a registration code they can use to register for BT Panorama access via www.panoramainvestor.com.au/uam/app/register
• If your client has forgotten their password, they can reset this via: www.panoramainvestor.com.au/uam/app/forgot-password  

From the BT Panorama home page, navigate to Clients > Related Groups > Create a Related Group

Note:

All accounts must:

a) have the same adviser and

b) be on the administration fee rates as set out in the relevant disclosure document dated 23 July 2018 or later.

For more information, head to BT Panorama Help &support, navigate to > Managing your clients > Fees > Administration fee - related groups pricing

Head to BT Panorama Help & support, navigate to > Managing your clients > Asset transfers (Asset transfers (westpac.com.au)) > Select the type of BT Panorama account you're transferring into > see procedure described in detail.

The Product Disclosure Document (PDS) for each managed fund contains information on the redemptions for that particular fund.

To download the PDS for a managed fund, please log into BT Panorama, navigate to Products > Managed Funds > Investment Options > Search for the relevant Managed Fund. Under the ‘Download’ column, select ‘Product Disclosure Statement’.

For Super/Pension, the available investment options are listed in the Investment Options Booklets. You can download the Investment Options Booklets from BT Panorama. Please navigate to Products > About Panorama > BT Panorama Super > Select Panorama Super Compact IOB OR Panorama Super Investment Options Booklet - Full menu

For Investments, you can view the available investment options when you navigate to Products > Managed Funds or Managed Portfolios > Investment Options

For Listed Securities available on both Super/Pension and Investment products, you can navigate to Investment Orders > Place an order > Search code. If it does not appear, that listed security is not available.

Expected payment dates for dividends and cash interest for cash, listed securities and managed portfolios can be viewed in the Investment income reports on BT Panorama.

Select the relevant client account, then navigate to Investment Income > Accrued > Expand the report under the relevant asset type (e.g., cash). You will then be able to view the upcoming payment date(s) — income might be received after this payment date.

Expected payment dates for managed fund distributions are not available as these are only released at the discretion of the fund manager.

You can complete the Full Transfer Within Panorama Super form on BT Panorama.

Please log into BT Panorama, navigate to Tracking > Service requests > Submit new request > Transfers > download the ‘Full Transfer Within Panorama Super’ form

When making direct contributions to BT Panorama Super, the type of contribution will need to be identified using a reference in the description field. For a list of the references for contributions, please navigate to Help & support > Products & investments > Manage contributions > About biller codes & bank accounts.

Please navigate to BT Panorama Help & support and click 'BT Panorama investor demo site’ listed under ‘Resources’. From here, select a Pension account, then navigate to Linked accounts > Add linked account.

Tax components and preservation components have no relationship to each other; rather they’re separate concepts in the payment of benefits. From 1 July 2007, pension benefits have two components – a tax-free component and a taxable component.

Navigate to the client’s document library and locate the relevant Annual investment statement. Then on the right, select the menus action button, and select ‘download Annual audit Report'.

There will be a delay in reporting superannuation information for clients on MyGov. You and your client shouldn’t rely on MyGov to inform any decisions on additional contributions, up to the contribution caps during this time. In the meantime, you can refer to the contribution details in BT Panorama, which can be accessed by selecting your client’s account in the ‘Contribution Summary’ page under the ‘Business’ menu.

Instead of a single 12-month statement, we’ll provide a 9-month statement followed by a separate 12-month statement. A single 12-month statement will be resumed from the next financial year.

All super members will receive a pre-populated Choice of Super Fund form in early April 2023.

From the BT Panorama desktop, select ‘Contributions’ and then ‘Deduction Notices’. Complete the drop-down prompts and select ‘Download’ for an optional form that can be signed by the client. Once submitted the acknowledgment letter will be available in the client’s document library within 24 hours.

A Successor Fund Transfer will happen on or around 1 April 2023, for all BT Panorama Super and Pension products, as they transfer to another super fund (Asgard Independence Plan – Division 2) under the same trustee. There are no changes to ben­e­fits, terms and con­di­tions or fees, ex­cept where a mem­ber holds or in­tends to ap­ply for a Ter­mi­nal Med­ical Con­di­tion. 

Please visit our dedicated information hub for more information, including a sample of the client communication, as well as answers to frequently asked questions.

The current status of your client’s account closure / withdrawal / asset transfer is available on the BT Panorama Online Service Request Tracker, which you can locate by going to Tracking > Service Requests.

Please note, if your client’s withdrawal or account closure involves any of the following, the transaction requires action with a third party and therefore, this may cause a delay in completing the request.

• Managed funds – Some Managed Funds price only on a monthly or quarterly basis.  Where your client’s account holds this type of fund, the completion of an account closure will be delayed until the fund manager releases the price.
• Shares – Where a client becomes entitled to a dividend through holding an asset on record date, the completion of the account closure will be delayed until after the payment date for that dividend.
• Asset transfer - Third party confirmation is required before the transaction can be completed.

These conditions also apply when the above assets are held within a Managed Account (including Managed Portfolios, Tailored Portfolios and Adviser Portfolios) or an asset transfer is being processed for a Managed Account.

For applicable accounts, all cash management and term deposit statements are now available in your client's document library.

Once a fee form is uploaded in the consent management tool, it can’t be changed in the same request. You can fix this by ending the current consent request, and setting up a new request with the correct form.

When a payment is received by us, we may be required to apply certain adjustments such as income tax, GST and Reduced Input Tax Credits, and this can result in a difference between the amount stated by the other financial institution and the amount received into the BT Panorama account.

To remove your details from the account, please contact us on 1300 784 207 and we can send you the documents to complete. Or you can use our Virtual Assistant 'Blue', which you can find by pressing the purple chat icon once you login to BT Panorama — and one of our consultants can send you the documents.

The 'Pension reset' form is available when you sign into BT Panorama via the forms section in ‘Help & Support’. If your clients were migrated as an account-based pension from BT Wrap, there are important considerations that are listed on page one of the form.

BT Panorama Super can now accept asset transfers as a rollover or contribution from external sources. Rollovers are only acceptable from external SMSFs and super funds as well as BT Panorama SMSFs.

For more information on asset transfers into Panorama Super and requirements head to Help & Support>>>Managing Your Clients>>>Asset Transfers>>>Transfer assets – Super.

To review all your client’s current advice fee status and when arrangements will expire head to Business>>>Fees, here you can also view what advice fees are applied to client’s accounts and their next anniversary dates.

For more information on how to renew or submit new advice fee arrangements head to Help & Support>>>Managing Your Clients>>>Fees>>>Advice Fees or when viewing an individual account select Account Fees>>>Advice Fees.

If your client has an individual HIN (Sponsored or Custodial) you can view this by following the below pathway on Panorama.

Account Details>>>Additional Services

If the client does not have an individual HIN, then they utilise the default option which is a Nominee HIN.

Further information to understand the key differences and benefits of each HIN structure is available in Help & Support>>>Managing Your Clients>>>Listed Securities>>>Holding Types.

For Panorama Investments accounts, support staff and advisers can add a new linked account, Pay Anyone or BPAY biller to a Panorama account through Payments & Deposits>>>Accounts and Billers. For the new account, a consent request will be sent to the client for them to login and accept the change.

For Panorama Super accounts, only the client can add a new linked account through the Linked Accounts screen when they log in to Panorama.

More information is available including how to verify a linked account on Help & Support>>>Managing Your Clients>>>Payments & Deposits.

When a fixed term or ongoing advice fee is ended, the fee will be payable up to the end of the month prior to the fee ending. Fees are not payable for the month the fee ended, even if the fee was ended on the last day of the month. For example, if a fee is ended mid-month on 15 July, fees will not be payable for the month of July.

For fees to continue when a fee is ended, ensure you set up a new fee with client consent checked by BT (if not submitted digitally) within the same month the advice fee is ended. For example, if a fee is ended mid-month on 15 July, and a new fee is set up and relevant account approvals are received and checked by BT by 31 July, fees will be payable for the whole month of July.

For more information on advice fees go to Help & Support>>>Managing Your Clients>>>Fees>>>Advice Fees.

‘For action’ corporate actions require an election to be made by the adviser to participate, whereas ‘For information’ corporate actions are mandatory events without options.

The Corporate Actions page under Track­ing only displays corporate actions that your clients are eligible for.

It is important to remember sponsored HIN clients participate directly with the share registry for corporate actions with the exception of takeovers and buybacks which will be available for election through Panorama.

For more information regarding corporate actions go to Help & Support>>>Managing Your Clients>>>Listed Securities.

You can find information about fee submissions by clicking on the help and support section on your BT Panorama desktop and then choosing the following options: Managing your clients -> Monitoring and reporting -> Fees. 

Yes you can, simply submit an online Intra account transfer when you are logged into Panorama.

More information is in Help & Support>>>Managing Your Clients>>>Asset Transfers>>>Intra account transfer.

Historical annual and tax statements have been uploaded to the document library on BT Panorama for migrated accounts. The annual and tax statement for financial year 2020/2021 has been split into two parts to account for relevant information that occurred on Wrap and Panorama due to the migration.

More information is found in Help & Support > Business & Admin > Panorama Year End.

To view the BT Panorama transaction cut-off dates for this financial year end, from the BT Panorama desktop, head to 'Help & support' > ‘Business and admin’ > ‘Panorama year end’ > ‘Transaction cut-off dates’. Download your copy of the EOFY guide. 

It is important to be aware of transaction cut off times for contributions, asset transfers and other transactions to ensure they are processed prior to 30^th June, along with estimated statement release dates.

Furthermore, due to the annual pension calculation taking place each year on the 1^st of July, ad-hoc pension and lump sum payments are unable to be made for typically the first 10 days of the month.

More information is found in Help & Support > Business & Admin > Panorama Year End.

Closed or pending closure accounts won’t be visible when inputting the details in the main search bar on the ‘Clients & accounts’ page. To view these accounts select the filter icon, untick all parameters and click update, the result will be a list of all active and inactive accounts and the search bar will allow you to search accounts individually. You can also select ‘Closed accounts’ as a filter if you want to view a list of all closed accounts.

Depending on the type of BT Panorama account being opened, identification requirements can differ in line with AML/CTF purposes. To understand the different requirements and instructions for each account type, navigate to Help & Support > Managing Your Clients > Proof of Identity.

Revenue and commission statements on a business level are only able to be obtained by an individual with ‘Dealer Group Manager’ access via the BT Panorama desktop by navigating to the ‘Business’ tab and then ‘Tax Invoices’. If you do not have this access, you should consult an authorised representative from your dealer group.

Below is a summary of who needs to sign the Panorama Advice Fee Consent form for each account type:

Note: Typed digital signatures are accepted for advice fee consent forms only and not for any other BT Panorama forms.

A new BT Panorama investor demo site has been released to give advisers a perspective of what the BT Panorama UI looks like for their clients. This will assist in explaining pathways and steps to your clients such as updating linked bank accounts, managing consent requests and much more.

Go to Help & Support through the BT Panorama UI for more information.

This is done through the Tracking > Consent Management screen on BT Panorama. For further detail on this process refer to Help and Support> Managing your clients> Monitoring & Reporting> Fees> Advice Fees.

You can search and filter by date or status type, a submitted request on BT Panorama.

Requests can be viewed at a business level or account level:
• Business level - Select 'Tracking' > 'Service requests'
• Account level - Search for the client's account > Select 'Service requests' from the left-hand menu

If your request shows as 'Attention required', our team will attempt to contact you via email and SMS to request the missing information or documentation.

Information about advice fees is available on the Help & Support page on BT Panorama desktop. To navigate to this page, select the question mark icon in the top right-hand corner of your screen. From here, select Managing Your Clients > Fees (under Monitoring and Reporting) > Advice Fees.

On this page you can see information about setting up, amending, renewing and ending advice fees on a clients account — along with information on the consent process for adding fees.

If you have any questions, please contact our Panorama Support team on 1300 784 207, email professional@panorama.com.au or BT's virtual assistant, Blue, is available to chat online.
 

You can make a transfer into Panorama Super and Pension accounts (not yet commenced) as a Rollover from:

• external super funds
• external SMSF
• Panorama SMSF

You can request a rollover by completing the ‘Offline asset transfer - Panorama Super (Rollovers)’ form.

BT will need a Rollover Benefit Statement (RBS) from the transferring fund, accountant, or adviser as soon as possible, once BT has notified them of the total consideration value to be used for the RBS.

The form and further information can be located on Help & Support page, under Managing your Clients > Asset transfers > Transfer assets - Super > Transfer assets - Rollovers.

You can locate the form when you are logged into Panorama via Tracking > Consent management > locate the relevant account > select the Actions menu > ‘Download consent form’. The form will be displayed and prepopulated with all the information you have entered.

When you are logged into Panorama, navigate to Business > Client holdings and search for the specific asset you are after.

Some accounts may have a special rate or discount applied to their administration fees which means they aren’t eligible to be grouped — for example, a trustee or custodial fee exemption applied upon migration from BT Wrap. You can remove the special rate or discount by calling us on 1300 784 207 and completing the relevant form.

Some accounts may have a special rate or discount applied to their administration fees which means they aren’t eligible to be grouped — for example, a trustee or custodial fee exemption applied upon migration from BT Wrap. You can remove the special rate or discount by calling us on 1300 784 207 and completing the relevant form.

When you log into Panorama, click on the mail icon at the top right of the screen. Here you can locate all the recent notifications that have been received for your clients, along with the account numbers.

As per the ATO website, data begins being collected and pre-filled through the MyGov Portal from 1 July. This may depend, however, on how promptly BT is provided data from third parties (i.e. fund managers, investment managers and share registries) and hence, is subject to delays. For example, the BT Panorama data for FY22/23 was not pre-filled on the ATO Portal until 31 March 2024.

Tax statements are not provided for BT Panorama Super clients. Instead, clients will receive an Annual Statement for each financial year. For estimated statement release dates head to Help & Support>Business & Admin>Panorama Year End.

We report contributions as made to the ATO i.e. Employer, Personal. We do not report which cap (concessional/non-concessional) these contributions count towards as this is determined by the ATO and not by us, as the trustee.

For deductions, we will advise the ATO that the client has made a claim, but the client still needs to advise the ATO that they have made a claim.

Where a tax deduction has been made on personal contributions the client will be provided an acknowledgement of the claim. They must include this claim in their personal tax return lodged with the ATO. If this has not been completed, and BT Panorama has reported the claim, an excess notice may be sent to the client from the ATO.

At the start of each financial year, the annual pension calculation takes place. This is generally completed by 10 July. Prior to 10 July, some processes cannot be completed for accumulation accounts. This includes account closures, change of phase (i.e. Super to TTR or Account Based Pension), and in-specie asset transfers between BT Panorama accounts.

You can change the member's non concessional contributions to concessional by submitting a Notice of Intent to Claim form on BT Panorama. When you log into BT Panorama, select your client’s account, then go to Contributions > Deduction Notices > select the Financial Year > select Provide a New Notice > download the acknowledgement letter from the Document Library.

The rate is 3.10% as at 1 February 2024. You can find the latest rate on BT Panorama anytime under Products > News and Updates > Important Notices > Key Rates and Threshholds.

You can increase the amount being claimed as a deduction by submitting a second notice of intent, provided you are still within the time limits specified for lodgement of the notice of intent.

For more information, go to BT Panorama Help & support page > Products and Investments > Managing Deductions.

You’ll need to complete the Asset Transfer – Panorama Super (Rollovers) form, and the Rollover Benefit Statement, as soon as the assets have been transferred from the external fund, as well as an Australian Standard Transfer Form (ASTF) for each managed fund and listed security - unless they are held on an external platform or on a BT Panorama Investments account (ASTF’s are required for Sponsored HINs).

More information can be found on BT Panorama Help and support > Managing your clients > Asset Transfers > Super (Rollovers)

A notice of intent cannot be lodged or changed if:

• A notice of intent cannot be lodged or changed if:
  a member closes their account and is no longer a member of the fund;
• BT Panorama doesn’t hold all of the contributions (e.g. this may occur after a partial withdrawal: rollover or cash); or
• If BT Panorama begins to pay an income stream based on whole or part of the contribution.

More information can be found on BT Panorama Help and support > Products & Investments > Managing Deductions> About Deduction Notices.

Regular investment plans and cash investment strategies can be set up for investments into existing managed portfolios, tailored portfolios and managed funds.

More information on these features is available in Help & support under Managing your clients > Regular Investment plan, and Managing your clients > Cash management > Cash investment strategy.

There are three different nomination types available: Trustee Discretion, Non-Lapsing and Automatic Reversionary.

For more information, please go to BT Panorama Help and support> Products and Investments > Manage Beneficiaries > About Beneficiaries

Please note BT Panorama does NOT offer Binding Death Benefit nominations.

Yes, when the client turns 65 the pension is converted to a full pension. The only tax liability will be the outstanding liability from when the pension was in the TTR phase. When the client turns 65, the pension will be non-taxable and the client will receive any franking credit entitlements, the same as a standard pension.

TIP: In the TTR phase, the account on BT Panorama will read ‘BT Panorama Super - Pension (TTR - taxed)’. Once the client has met the condition of release, the account will change to a ‘BT Panorama Super - Pension (TTR - retirement)’. When an account reads (TTR- retirement) it is considered to be a full pension and is taxed accordingly.

Yes. A member who has reached 65 years old may cash their benefits at any time. There are no cashing restrictions, which mean the benefits can be paid as an income stream or a lump sum. This condition of release is applied automatically on Panorama, so no action required from the adviser or client.

Yes.

Step 1 - Withdraw funds from the BT Panorama Super account to the client’s linked bank account. This can be done in two ways:

• The adviser can navigate to 'Accessing Super' on the platform and organise a withdrawal.
  
  
• The client can complete the ‘Partial Withdrawal’ form along with a ‘Super condition of release’ form and post it to Panorama.

Step 2 - Once the withdrawal has reached the linked account the client/adviser can organise a deposit from the linked bank account back into the BT Panorama account. This can be initiated via the BT Panorama website or directly from the client's bank account using the BT Panorama account's BSB and Account Number.

The Investment Options Booklet – Full menu contains a list of shares offered on BT Panorama along with the holding limit for each option.

This can be found on BT Panorama by navigating to Products>About Panorama>BT Panorama Super>Panorama Super Investment Options Booklet – Full Menu.

What happens if the limit is breached?

If the investment holding limit is breached, a communication will be sent to advisers, stating that there has been a breach – the communication informs you which share on the client’s portfolio has exceeded the limit. Once you exceed a holding limit for a particular account no further purchases on this share can be actioned.

You may be presented with the following message when making a withdrawal on a super account online:

"Withdrawals made online will not apply any special tax treatments. If your client has met a condition of release due to incapacity, do not use this online form. Instead, contact Panorama Support on 1300 784 207 to ensure the correct tax treatment is applied".

When you contact us, we will be able to help you calculate a tax estimate for the client from which the maximum amount to withdraw can be calculated.

You can navigate to Account details > Beneficiaries > Manage Beneficiaries.

Yes, from the BT Panorama desktop, select Help & Support > Business & Admin > Panorama Year End > Guides.

BT Panorama Super offers three different beneficiary nomination types:

- Trustee Discretion
- Non-Lapsing
- Automatic Reversionary

For more information on the key differences between each beneficiary nomination type and how to amend a nomination, head to Help & Support>>>Manage Beneficiaries.

Each quarter the trustee monitors the BT Panorama Super accounts to ensure that the value of a holding does not exceed the investment holding limit plus the limit buffer for the investment option. This is applicable to any investment option where an investment holding limit applies, as a percentage of the total value of your account.

If the portfolio percentage weight of a holding exceeds the investment holding limit plus the limit buffer, the adviser will be notified. A breach does not constitute having to sell down the holding, the client will just not be able to further add to their existing holding and these limits are reviewed frequently by the trustee.

You can review clients that have breached an investment holding limit under Business>>>Investment Breaches. 

To convert a TTR account to full pension the Super Condition of Release form is required, obtainable in Help & Support.
If the client reaches age 65, we will automatically convert the client’s TTR to full pension.

A TTR account that has converted to full pension will display as BT Panorama Super or Pension (TTR - retirement) on the Panorama UI.

TAP accounts migrated from BT Wrap and the product is now closed to new investors. Information on payments, Access to Capital (Commutations), Taxation and more regarding TAP accounts is available on Panorama through Products>>>About Panorama>>>BT Panorama Super>>>Panorama Super Term Allocated Pension - Terms of a Category.

When a pension account is in the pre-commencement phase, no pension payments or lump sum withdrawals can be made. The pension must be commenced first before a withdrawal can be actioned.

Learn more by logging into BT Panorama desktop and selecting the following options: ‘Help & support’ > ‘Products & investments’ > ‘Commence pension’.

The increase in monthly tax instalments can be due to the following:

• The PAYG instalment rate has recently been increased by the ATO from 3.0% to 4.6%.
• For BT Wrap migrated customers, Personal Tax Deductions are now captured as part of the PAYG instalment income on BT Panorama. This wasn’t the case in BT Wrap.

The recent PAYG instalment deduction in September covers the income from 1 July 2021 to 31 August 2021. 

It’s also important to note that PAYG instalment frequency is generally monthly in BT Panorama as compared to quarterly in BT Wrap .

More information about PAYG instalments is available on the ATO website or in the ‘Panorama Super & Tax Guide’ which you can access from the BT Panorama desktop by clicking on the ‘Year end’ tile on the homepage and scrolling down to ‘Guides’> ‘Panorama Super & Tax Guide’.

The ‘Complying Fund Statement’ is inside the ‘Choice of super fund’ form located in the ‘Forms’ section under 'Help & Support'. Find the form by clicking on ‘Help & support’ and selecting ‘Forms’ and scroll down to the ‘Super’ section to find the ‘Choice of super fund’ PDF.

We have prepared a helpful guide for Pension Accounts on BT Panorama:

Setting up a Pension Account

• Commence a pension when it best suits the client with the ability to manage a pre-commencement pension account
• You have the ability to submit rollovers via the BT Panorama UI via Super stream
• You can monitor rollovers using the online rollover tracking tool on the BT Panorama UI for Super/Pension consolidations
• You can select a day & frequency for pension payments
• You have the ability to nominate a backup Auto Reversionary nomination

Managing a Pension Account

• You have the ability to stop a pension’s Super fund contributions/rollovers and also re-commence them again
• Centrelink schedule available in the document library - for further support on Centrelink schedules, please refer to our: How to webinars - Centrelink schedules

Managing Pension Payments

• You have the ability to set up one-off pension payments or lump sum withdrawals
• When scheduling a pension payment, BT Panorama will look to the cash account in the first instance to fund the payment 9 days in advance.
• Should there be insufficient cash available, BT Panorama will initiate proportionate sale of the investments within the client’s portfolio.
• Should the redemption of these assets take longer than 9 days & the scheduled date of the pension payment pass, BT Panorama will continue to check the cash account for a further 5 days after this date to fund & pay out the pension payment
• Should the client hold investments that take longer than 9-15 days to redeem, consider nominating a more liquid asset under drawdown strategy to manage replenishing the cash account for regular withdrawals such as pension payments

For your convenience we have created a how-to video on commencing & managing pension accounts which also includes how to set up a drawdown strategy.
 

BT Academy Training also offers a range of resources such as a full course on Super/Pension to support you with using our platform & products. Register for BT Academy Training or login then you can navigate to the Super Pension training.

When a client on BT Panorama Super is looking to move their super accumulation account in full to pension phase, there is no requirement to open a new pension account and transfer the client’s assets. Instead, there is a much faster and easier way, which is to simply change the client to pension phase in their existing Panorama Super account. This can reduce the time required to commence a pension by up to 4 weeks. You're able to change your client's Panorama account between other phases such as:

• Accumulation phase to transition to retirement phase
• Transition to retirement phase to pension phase, or
• Pension or Transition to retirement phase back to accumulation phase

Refer to our Help & Support section on the Panorama desktop, click on forms, refer to the super section & download the Full transfer within Panorama Super form. Once you complete this form and your client signs it, simply email the form to: professional@panorama.com.au

Due to BT Wrap not retaining the cost base of your client’s holdings in a pension account, an asset transfer from a migrated pension account to a BT Panorama pension or super account cannot be done. However, a cash rollover option is available. To find out how this works, go to ‘Help & support’ on BT Panorama desktop and then select ‘Products & investments’-> ‘Super’ -> ‘Manage rollovers.’

When nominating this condition of release, it’s important to note any contributions and investment earnings made in the account after the date your client has ceased employment won’t be accessible in the pension phase until they meet the same condition of release again, or one of the other conditions of release. Until then, the remaining balance must remain in either an accumulation or transition to retirement pension account. This means if there’s any new contribution to or income earned by the account after the date of employment cessation, a full transfer within BT Panorama Super cannot be actioned.

The table outlines the references for all contribution types made via EFT. It’s important to always use the right reference so that a contribution error does not occur. When making a downsizer or CGT exemption contribution, the ATO form must be received by the BT Panorama team first before the funds are transferred. The contribution references are available on BT Panorama, go to ‘Help & support’ on BT Panorama desktop and then select ‘Products & investments’-> ‘Super’ -> ‘Manage contributions’ -> ‘About biller codes & bank accounts.’

Generally, all SMSF rollovers into BT Panorama Super are to be made into the BT Panorama Super Global cash account (BSB 032-024, Acct # 305657). It is important to include the Payment Reference Number (PRN) in the description to allow for the funds to be matched with the Electronic Service Address’ (ESA) message. For more information regarding the ESA for your client’s SMSF contact the administrator or visit the ATO website.

When contributions are made into a Panorama Super account using the BSB and account number, please use the correct description for ‘Contribution type’ as shown below. If the ‘Contribution type’ description is incorrect, it will default to a ‘personal contribution’.

The table above can also be viewed in the Help & Support page under Products and Investments > Manage Contributions > About biller codes & bank accounts.

Information about advice fees is available on the Help & Support page on BT Panorama desktop. To navigate to this page, select the question mark icon in the top right-hand corner of your screen. From here, select Managing Your Clients > Fees (under Monitoring and Reporting) > Advice Fees.

On this page you can see information about setting up, amending, renewing and ending advice fees on a clients account — along with information on the consent process for adding fees.

If you have any questions, please contact our Panorama Support team on 1300 784 207, email professional@panorama.com.au or BT's virtal assistant, Blue, is available to chat online.
 

We publish a Panorama Super and Tax Guide each year. You can find the guide in ‘Help & support’ via Business and admin > Managing your business > Panorama year end > Guides.

It may be because the contributions are being made using the Unique Superannuation Identifier (USI) for BT Wrap, rather than Panorama. From 1 October 2022, funds will reject at the source when they are attempted to be paid, if making a contribution using the Wrap USI. You can provide the ‘Choice of Super Fund’. form to clients and employers to have the USI updated, which can be found via ‘Help & support’.

In a client’s Super account, select Contributions > Deduction Notices, then select the Financial Year the contribution you wish to claim was made. Next select “Provide a new notice” and complete the online form. If you wish to increase a claim for the same financial year, complete these steps again. To reduce a Personal Tax Deduction Notice, click the Menu button next to the displayed previous claim, and select “Reduce this claim.”

BT only provides the functionality for advisers to add a linked account on BT Panorama Investment accounts (including requesting consent), and not super accounts. Clients will need to log in to their account, to add the linked bank account.

Yes, you can transfer listed securities or managed funds (in specie) into Panorama Super and Pension (yet to be commenced). For more information on the process, visit the Help and Support page, and navigate to ‘Managing your clients’ > ‘Asset Transfers’ > ‘Transfer Assets – Super’ > ‘Transfer Assets – Contributions’.

As long as the account is not linked to an external account software and the account holders have the member role assigned, SMSF account Payments and deposits can be categorised.

More information is available in Help & Support>>>Products & Investments>>>Categorise SMSF payments & deposits.

If the account holders are not set a member then the manage signatories and associated entities form needs to be completed, take a look in Help & Support for details.