Prepare for Wrap year end

Wrap makes it easier for you to prepare for year end with our dedicated adviser year end resources. This site will be regularly updated with new information as it becomes available.

Processing and transactions

Find day-to-day operational information here to help you service your clients at this busy time of year.

Deposit Options - how to contribute funds vis EFT and BPAY

To make it easier for your SuperWrap and Investment Wrap clients we enable them to make deposits using EFT via internet banking, BPAY or by cheque at any Westpac branch in Australia.

Electronic Funds Transfer

To make payments via EFT or at a Westpac branch your client will need their individual account details. You can access these details by visiting the Adviser DeskTop and selecting:

My Clients > Client Details > Cheque and Deposit Facility Details (Investment Wrap)

My Clients > Client Details > Deposit Facility Details (SuperWrap)

Please note: all cheque and EFT deposits must be received by 5pm on Friday 29 June. EFT payments will need to be made by 5pm Wednesday 27 June (subject to issuing bank's processing time) to be received by the cut-off. 

BPAY Details

Your clients can also make member contributions into their SuperWrap account and deposits into their Investment Wrap account by using BPAY.

Product Customer Reference Number Biller code
Investment Wrap 0101 + investor number (excluding the M)
eg: for M01234567,
the CRN is 010101234567
81984
SuperWrap 3401 + investor number (excluding the M)
eg: for M01234567,
the CRN is 340101234567
81927 - Member Contribution
81935 - Employer Contribution
81919 - Spouse Contribution

Please note: all BPAY deposits must be made by 5pm on Tuesday 26 June.

Clients can access their individual account details by visiting the Investor DeskTop and selecting Home > Your Details

What is the effective date of the deposits using these methods?

  • Deposits made using EFT or BPAY will generally be effective on the date that Wrap receives the deposit. Clients will need to consult their financial institution to confirm the specific timeframe for processing an EFT into Wrap.

  • Deposits made via cheque at any Westpac branch will generally be effective the same day (provided that this day is a business day). The monies will not be available for transacting until after the cheque has cleared.

  • Please refer to the Adviser Guide or the Transaction cut-off dates flyer.

Wrap Estimator Tool

Use our Estimator Tool see if or when a client's Tax Report is available.

An updated tool will be available mid July 2018.

Wrap Tax Reports

We anticipate mailing our first tranche of Tax Reports in late July. PAYG statements are available after the end of each quarter.

Tranche Estimated mailing dates Status Reports released
Tranche 1 Thursday 26 July tba tba
Tranche 2 Thursday 9 August tba tba
Tranche 3 Thursday 23 August tba tba
Tranche 4 Friday 7 September tba tba
Tranche 5 Wednesday 19 September tba tba
Tranche 6 Monday 8 October tba tba
Tranche 7 Thursday 25 October tba tba
Tranche 8 To be confirmed tba tba

SuperWrap Annual Statements, Income Payment Schedules (including Centrelink Schedule) and PAYG statements

We anticipate the statements will be mailed from the below dates:

  • PAYG - Tuesday 3 July
  • Income Payment Schedule - Friday 6 July
  • Annual Statements - Tuesday 31 July 

Wrap Pension Amendment Tool

Our online tool provides an easy way to amend the pension payment amounts for your SuperWrap clients (excluding Term Allocated Pension Plan). 

Introducing the EOFY Toolkit

In the lead up to 30 June, there are a num­ber of com­pelling rea­sons to start a con­ver­sa­tion with your clients to help them take ad­van­tage of spe­cific fi­nan­cial year-end strate­gies.

Here you will find a se­lec­tion of tools for your clients. These tools are de­signed to help you con­nect with the right clients to have mean­ing­ful con­ver­sa­tions in the lead up to EOFY.
 

Videos 

Client email templates

Client flyers

Adviser flyers

Income distributions and tax components tracker – what we have/haven’t received

To help you manage your clients’ queries and expectations, our ‘Income distributions and tax components tracker’ spreadsheet will show you the income distributions and tax components we’ve already received from fund managers and what’s outstanding.

The spreadsheet will be updated from early July and is available on the Adviser DeskTop via Products & Research > Distributions Timetable

About income distributions

The majority of income distributions are reconciled and processed in July. However, some fund managers may not make payments until significantly later and this can delay some clients' distribution payments.

About Tax Reports

To produce Tax Reports we rely on the receipt of tax components from the fund manager or share registry of every managed fund or share a client was invested in during the financial year. We anticipate sending our first tranche of Tax Reports on Thursday 26 July 2018.

AMIT regime – current list of funds

We expect the majority of managed investment funds will opt in to the Attribution Managed Investment Trust (AMIT) regime in this current financial year. For information relating to the tax consequences for clients who hold investments in these funds,  please refer to the relevant BT Wrap Tax Guide.

Accountant Resources

Overview

To help you manage year end with your clients, we have created a handy reference guide that will assist you in planning year end activities and for responding to client queries.

View the Wrap Year End Adviser Guide

For quick and easy information related to interpreting and explaining your client's Wrap Tax Statement please follow the links below. 

Guides to reading the Wrap tax Statement 
Information on claiming tax deductions for personal super contributions

Refer to the FAQs flyer for common questions and answers on year end statements.

Electronic downloads of client statements

To enable you utilise various software programmes we provide the ability to download client Tax Statement information.  Below is a summary of the main tools available.

BGL Download

BGL Simple Fund data download or CSV file. If you do not use the wrap DeskTop you can request a data download through your client's financial adviser.

If reading the guides above does not solve any of your queries you may have to can contact BGL directly via one of the methods below:

BankLink

Wrap clients can permit you, their accountant, to access their Wrap account Statements via BankLink by completing a BankLink Client Authority form. You then provide the form to BankLink. BankLink will establish the client on their software and forward the authority to BT who will include the client in the Download to BankLink.

If you would like further information you can visit the BankLink website at http://www.banklink.com.au/ or go to an online demo video at http://www.banklink.com.au/demo/BankLink.html

 

Quicklinks

Contact us

 

Panorama

 

 

Find answers to commonly asked questions (FAQs) about the lead up to 30 June, Investor Reports, Tax Reports and more here.

 

 

The information shown on this site is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account any person’s personal objectives, financial situation or needs and so a person should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. A person’s individual situation may differ and they should seek independent professional tax advice. A person should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.