The big news in December is that the first two stages of major updates to the application form have been released. We’ve also converted all holders to a single tax type, thus removing many previous restrictions in allocating holdings to a holder. The team has also been busy making many other updates, improvements and bugfixes.
Application form
- Applicants can now save a draft of their application to return to later. Issuers can view contact details of Draft applications in a ‘Pending applications’ table in the Offer detail view.
- Advisers can now apply on behalf of their investors, including supplying a document of authority to act on behalf of their investor.
- Enhanced issuer branding has been added with a customisable landing page.
- The design and structure of the application form has been improved to enhance issuer branding and make it easier for investors to fill out the form.
- Issuers can now add custom text to the communication sent to successful investors. Some other copy changes have also been made to this communication.
- Fixed a bug where adding due diligence questions to an existing offer caused an error in the application form.
- Fixed a bug where the mandatory driver’s licence card number field was not being enforced in some places.
- Fixed a bug in the validation for overseas driver’s license numbers.
Offer setup
- When setting up an offer, issuers can elect to add a ‘Buy’ button to the offer security in the investor centre, enabling current investors in the security to easily access the application form.
Manage applications
- In the Offer details page, adviser’s email addresses and other details are now included in the XLS export from the application list table.
- When the offer is for a cash-type security, the unit price and quantity columns have been removed from the payment instructions to the investor.
Tax declarations
- All holders have been migrated to a single type of tax declaration. This removes previous restrictions between holders with FATCA/CRS compliant tax declarations and others. Restrictions due to FATCA/CRS requirements have been removed from;
- merging holdings,
- moving holdings to another holder,
- transactions, and
- importing tax details.
Tax statements
- The tax statement for DIV 6 payments have been updated so that Australian rental income and Australian other income are now included in Part C Table 7 s98(3) and s98(4) rows, and related changes to the calculations for these components have been made.
Meetings and voting
- Changes of assigned proxy are now captured in the activity log when a vote is submitted or updated.
Holding/periodic statements
- Holding/periodic statement communications are now sent to read-only advisers even if they are unregistered.
Holder details
- Added validation rules for driver’s licence numbers.
- Issuers can now add a risk rating to holders while the register is in preview mode.
- In the holder details transactions table you can now filter and sort the Issuer column.
- Investors who are updating their payment instructions in the investor centre, and are changing their DRP details only, do not need to supply a bank statement.
Capital calls
- Some updates have been made to rounding and decimal place methods and calculations.
- Fixed a bug where capital calls in draft state were showing incorrect payment dates in the Capital call list view.
Payments
- Rounding options on withholding tax amounts are now set to round down (ignore cents) by default.
- Payments with a net amount of 0.00 after WHT are no longer included in the generated ABA file, and are set to Paid automatically.
Securities
- Fixed a bug where ‘Loan’ was not available as a security type when editing securities.