Release Notes

Version 3.3.0

Bug Fixes

  • Where the life insurance requirement is higher than the amount able to be provided by a Life/TPD plan but limited by maximum TPD cover, an additional life-only recommendation is now calculated.
  • Fixed "noChange" bookmark
  • Fix incorrect validation errors for contributions and TTR which was validating unused partner fields
  • TTR optimiser can result in NCC recommendations even if the concessional cap has not been reached

Enhancements

  • Ability to enter concessional contributions as a percent of income
  • Description of fees appear on output screen for contributions and TTR
  • Add before.hasTotalNonConcessional and after.hasTotalNonConcessional remove section bookmarks
  • Display waiting and benefit period on insurance output screen
  • Implement support for nested remove section bookmarks
  • Workaround Microsoft Word limitation for the number of docvariables that can be inserted into a SoA export
  • Retain configuration files when upgrading Provisio
  • Display risk profile on investment choice input screen to allow calculation of risk profile option
  • Add support for conditional questions and formula based scoring in risk profile
  • Change the default retirement pension level to "Other"
  • Contributions flowchart now shows remaining NCC amount in part year scenario
  • Implement docvariables for 2nd year of contributions recommendation in adequacy
  • Contributions recommendation shows second full year figures if first year is a part year
  • Support the entering of fees on the investment choice input screen
  • Show past and future amounts in Excel output and in docvariables to better model part-year projections
  • Ability to enter non-default SG as percentage instead of dollar amount

Version 3.2.0

Bug Fixes

  • Insurance Module: The Year 1 cost was being calculated incorrectly when Existing and Recommended cover changed between fixed and unitised cover.
  • Insurance Module: Tax calculation on TPD assumed flat tax rate of 21.5%. Now tax on TPD takes into account client's maximum tax liability as well as their eligible service date.
  • Adequacy Module: Fixed inconsistencies in output graph when importing Contributions or TTR scenarios into Adequacy
  • Contributions and TTR Modules: Fixed on-screen output error that occurred when SGC and Existing Contributions exceeded contributions caps
  • Resolved NCC transfer from accumulation to pension at retirement age. Previously was leaving NCC amount in Accumulation at retirement
    • 2011/2012 figures
  • Previous non-concessional 3 year check not working for strategies starting after 2012
  • Leave in accumulation shouldn't leave an amount in accumulation when retiring
  • Documentation error fixed. In the Provisio Template Authoring online help, the description of the "beforeotherIncome[*]" docvariable did not match the value
  • Fixed error relating to concessional cap buffer for clients over age 75. A value in the concessional cap buffer had incorrectly resulted in a negative salary sacrifice at age 75
  • The "hasSalarySacrifice" remove section bookmark has been fixed - was not removing sections when client had salary sacrifice
  • Improved calculation for existing premium cost where parameters change between existing and recommended
  • Existing NCCs were not being increased when eligible for a higher co-contribution amount

Enhancements

  • Budget Update: Reduced minimum payments for account-based pension. Minimum payment amounts are set at 75% levels for 2011/2012 and return to 100% in 2012/13
  • Budget Update: The freeze on indexation of Government co-contribution income thresholds will extend through 30 June 2013
  • Budget Update: Increased Medicare Levy low income thresholds
  • Budget Update: The superannuation guarantee compulsory caps have been updated to
  • Budget Update: Updated centrelink age pension thresholds
  • Budget Update: There is an optional ability to use a $50K Contribution Limit for super balances less than $500k
  • Budget Update: Flood Levy support
  • Budget Update: Expansion of the Work Bonus
  • New Ability to disable the recommendation of non-concessional contributions as part of Contributions or TTR scenarios
  • New field to specify a cap amount for indexed non-concessional contributions
  • Centrelink rates no longer index if projection is within a year of when the rate was defined
  • Improve 64-bit support
  • Add input.startAge docvariable to investment choice template variables
  • Add "Use $500k/50k contribution cap" checkbox
  • Adequacy Module: New remove section bookmarks: "includes_strategy_tr" and "includes_strategy_co". Refer to Template Authoring online documentation
  • Change outcome columns in year-by-year comparison table to represent current year only
  • Change TTR optimiser to work on a year-by-year basis
  • Added new docvariables for fees calculated on opening balance

Version 3.1.24

Bug Fixes

  • Running a part year calculation would add the full year contribution amount into the closing balance
  • fortnightly() docvariables have been removed from the Word export as some lengthy strategies were hitting a MS Word maximum for the number of docvariables supported
  • Specifying a required net income in TTR no longer indexes the income required by inflation in the first year
  • Capital gains were incorrectly calculated on unrealised gains from the current year, now correctly referencing the previous year's
  • Co-contribution age limit fix to ensure co-contributions aren't calculated after the co-contribution age limit
  • Adequacy .pvo files now saving deemed and non-deemed assets correctly
  • Fixed error when exporting contributions strategy to Word where the end age was past 65
  • Adequacy chart removal bookmark for shortfall not calculating correctly when surplus
  • Importing part year strategies to adequacy would not show the final year of the imported strategy on the output screen
  • Importing a strategy to adequacy would not allow the partner retirement age to be set less than the current age of the client from the imported strategy

Enhancements

  • Significant performance improvements to the calculations across all modules - most noticeable in Adequacy
  • Updated life expectancy tables
  • Removed the investment options from the investment choice output screen. These are still available from the Investment Options toolbar button
  • Improved adequacy optimisations for partner target retirement capital calculations
  • Adequacy retirement capital now rounded to nearest $1000, and retirement income to nearest $500 to better indicate the projected nature of these numbers
  • Additional "employmentPackage" docvariables in all modules for better grouping of employment-package related information (e.g. input.employmentPackage.netSalary, input.employmentPackage.sgPayable)
  • Age pension payment rates updated to Jan 2011 rates
  • Insurance premium tables now show better detail of the existing and additional recommended cover
  • Contributions year-by-year table extended to show change in income and super to better explain the benefit
  • Add template variables for previous non-concessional contributions
  • Update Westpac/ASFA standard amounts to Sept 2010 figures
  • Improve contribution cap indexes and extend to 2070
  • Minor layout improvements to better balance the input and output screen widths on smaller screens
  • Full installer support for Windows 7

Version 3.0.28

Bug Fixes

  • In some cases where tax free and other income were both specified, concessional contributions more than income were possible
  • Unable to open old .pvo files from version 2

Enhancements

  • Extension of reduction of minimum pension requirement to 2011
  • Medicare levy thresholds updated for 2010

Version 3.0

Bug Fixes

  • Copy/paste not working in events editor
  • Restore Defaults button on preference pages doesn't work
  • Annual Tax Position on TTRS shows tax including rebates instead of tax-only

Enhancements

  • Contributions Optimiser module
  • Investment Choice and Insurance modules for Intrafund clients
  • Roundtrip editing of exported templates
  • New tax-free income field in TTR and Contributions modules
  • "How to renew" links in reminder dialogs
  • Removing unused input fields (e.g. self-employed)
  • Multiple template support in "Templates" preference page
  • User interface refresh
  • "General" preference page
  • Add SuperReview and Money Management options to news feed
  • Show Word Export icon based on icon of MS Word installed
  • Delete license button on license preference page
  • Close module tabs with a keyboard shortcut
  • Export reports in the background
  • Ability to configure default values in module preference pages
  • Floating error messages which point to the error field
  • Warning if trying to export over the top of template file
  • Improve template variable naming
  • Allow variable graph sizes in template
  • Split out the Tax and Net amounts for SGC and Salary Sacrifice in Excel export
  • Cells in excel spreadsheet formatted as numbers
  • TTRS implementation details displayed on output screen
  • Improve word export speed
  • Ability to add custom fields to input screen to be used in export templates
  • Improved pro-rata support for SG, concessional conts and inflation applied to first year super balance
  • Support 2 digit dates in input fields
  • Import/export preferences
  • Installer provides better support for Windows 7
  • "Quick Info" screen

Version 2.4

Bug Fixes

  • Copy/paste not working in previous nonconcessional contribution fields
  • Cancelling license dialog after license expires didn't cancel application startup

Enhancements

  • Improved headings in year-by-year adjustment tables
  • Update undeducted and deducted contribution limits
  • Split "Income" input field into “Salary/Wages” and “Other Income”
  • Update changes to the 90/10 rule and ability to make deductible contributions
  • Change "Gross Income" to "Taxable Income" in the Tax Position Tables on screen and in Word Report
  • Improved the optimisation engine to factor in new contribution caps.
  • Include non-concessional contributions in interest calculations
  • Minimum pension halved for 08/09 and 09/10 FY
  • Configuration option to prevent running optimisation when opening .pvo file, which allows an input file to be set with all your preferred default input options, and you can open Provisio using this file.
  • All reference to improved Co-Contribution eligibility has been removed in accordance with changes to Co-Contribution eligibility.
  • New input field to pro-rata the salary sacrifice cap for any part-year scenarios
  • Add a tick box to year-by-year adjustments to exclude non-concessional contributions from net income
  • Updated tax offset calculations
  • Update wording in the appendices of MS Word template to bring in line with legislation changes
  • Additional template variables for custom templates
  • Ability to customise table columns in custom templates
  • Ability to insert graph into custom templates
  • Improve presentation of MS Word export setting on preference screen
  • Validation messages now display in popup window when running optimisation or opening year-by-year adjustments
  • Implement currency formatter for variables in custom export templates
  • Improvements to table generation in custom export templates

Version 2.3

Bug Fixes

  • Partial first year when only one year in projection caused error on export or print
  • Date of birth field now supports dashes in date format
  • Pension amounts set in events should not be prorated
  • Update feeds to use new news.com.au RSS feed URL
  • Leaving blank field "Amount to leave in accumulation" gives null pointer error
  • Word export fails on due to optimisation code in unknown cases

Enhancements

  • Tax rates updated
  • Low Tax Offset updated
  • TaxFree Amount is not proportioned across "Leave in Accumulation"
  • Allow users to set a pension amount and salary sacrifice amount for a given year
  • New inputs fields for previous undeducted conts to ensure compliance with 3 year limits
  • Undeducted limits support 3x and 9x deductible limits
  • Maximum pension draws 100% of amount once client is 65
  • Single installer for both XP & Vista
  • Ability to disable automatic updates for corporate installs
  • All input errors now flag the relevant fields which need to be corrected
  • Improved user interface for events editor
  • Improved user notification for word export errors
  • Improvements to memory usage, fonts

Version 2.2

Bug Fixes

Enhancements

  • Support for customised Microsoft Word output templates (more info)
  • Tooltips on input fields now use more recent terminology (e.g. "tax free" instead of "undeducted")
  • Enhancements to the automatic update which will significantly reduce the download size (and time required) for future updates

Version 2.1

Bug Fixes

  • Events editor screen not taking into account Pension Start Date when displaying years
  • With part year calculations, Year 1 is now always a new phase
  • Incorrect monthly and fortnightly sal sac amounts in Word Report if part-year and existing salary sacrifice
  • Tax Rebates figure shown on output screen now includes all the tax offsets
  • Wrong year number appears in Word Report for part year scenarios
  • Results page sometimes displays side-by-side instead of in tabs
  • Income shown in reports for the 1st year scenario comparisons is wrong if an income event exists for year 1

Enhancements

  • Show actual financial year instead of year number in all screens and reports
  • Update the co-contribution for the new factors
  • Change "Pension Start Age" label on main screen to "Client Age"
  • Toolbar allowing easy access to "Open file" and "Print" functions
  • Silent installation option

Version 2.0

Bug Fixes

Enhancements

  • Support for events to customise specific years in the calculation
  • Current age renamed to Pension Start Age on input screen
  • Assumptions appear on printed report
  • Update wording in MS Word report with new terminology
  • Update user interface
  • Simplify the update process
  • Clicking through Optimisation Result screens updates input view to show the values used
  • Year by Year tax calculations not showing year one for partial calcs
  • Remove "idx" column from spreadsheet views
  • Improve appearance of graph
  • Support Mature Age Worker and Low Income Tax Offsets
  • Display news feeds in status bar
  • Remove partner information from assumptions in MS Word and print reports
  • Clicking on icon in status bar when a job is running opens the Progress View
  • Column headings in excel export are not in same order as figures (2.0.1)
  • Salary in tax position "after" scenario adding undeducted conts to salary on report screen (2.0.1)

Version 1.4

Bug Fixes

  • Remove version numbers from splash screen which were not updating correctly
  • Tax Rebate should appear as $0 after Age 60
  • Word Report not Calculating Monthly/F-Nightly figures correctly for partial first year pensions
  • Implementation Section of Word Report not including existing salary sacrifice amounts
  • Could not go back and use "Current Age" field after Date of Birth used
  • Target income not being adjusted for inflation
  • Cannot open files saved in a previous version of Provisio (fixed in 1.4.4)
  • Incorrect Tax Rebate and Salary displayed in Tax Position section (fixed in 1.4.5)

Enhancements

  • Ability to set "Date of birth" or "Current Age" as default input field in File -< Preferences -> Transition to Retirement
  • Diagram in MS Word report now an image to remove font size issues
  • Support SATO
  • New tax rates
  • New medicare rates
  • Ability to specify tax deductions
  • Support "Proportional" tax free method
  • Maximum pension drawn is limited to $120k
  • Ability to see Tax Detail for all years on report (previously only 1st year)
  • Show "Salary after contributions" on Tax Position section in report
  • Reboot section only shown in word export if reboot selected
  • Tooltips on input fields
  • Display upgrade message with link to release notes
  • Allow optimisation to be cancelled
  • Add CTRL-O shortcut to open file
  • Show progress bar at startup
  • Better validation for start date of pension
  • "Without Salary Sacrifice" and "With Salary Sacrifice" headings in report now say "Without Transition Strategy" and "With Transition Strategy"

Version 1.3.1

Bug Fixes

  • Enable edit menu items (cut/copy/paste)
  • Word export shows reboot as "no" even when true
  • Inflation Rate not included in Assumptions section of Report
  • Income figures in Year-by-Year Table are NOT adjusted for Inflation

Enhancements

  • Print functionality
  • Ability to save/open clients
  • Support self-employed calculations
  • Changes to the deductible rule limits
  • Add help menu items to user manual and release notes
  • More detail in super contribution info in Tax Details section
  • Always set automatic update preference to search for minor updates

Version 1.2.1

Bug Fixes

Enhancements

  • Application doesn't launch for first time if no license key exists

Version 1.2.0

Bug Fixes

  • License key input and saving more resiliant to unexpected characters
  • Investment return assumption in export showing wrong figures
  • Salary sacrifice in word export now includes existing conts

Enhancements

  • Automatic updates switched on by default
  • Technical Details button on error dialog
  • Allow install as non-administrator
  • Accountants version
  • Detailed progress monitor for TTRS optimisation
  • Set focus to income field on input screen by default
  • Add icon to drop down menu for viewing detailed projections

Version 1.1.4

Bug Fixes

Enhancements

  • Input pane scrolls if screen too small
  • Eclipse update site no longer included in automatic updates
  • Progress dialogs display better messages and progress bars

Version 1.1.2

Bug Fixes

  • Running calculations after midday sometimes caused errors relating to partial first years
  • The calculation would always select the maximum pension if the incomes couldn't match
  • Some dynamic fields in the Assumptions section of the word output did not update correctly
  • The tax position shown was for the second year, even if the first year was a full year
  • The Excel icon to export to Excel would appear as a red dot in some circumstances

Enhancements

  • Rename columns and tabs when viewing the projection details to be more user friendly
  • Hiding some tabs in the projection details which are not relevant to the TTRS calculations

Version 1.1.1

Bug Fixes

  • License file not being loaded correctly in setup wizard

Enhancements

  • Optimise set as default button so pressing Enter will begin the optimisation
  • Install option to launch Provisio after install

Version 1.1

Bug Fixes

  • Uninstaller doesn't remove desktop icon
  • Under some conditions the installer did not install the TTRS plugin correctly

Enhancements

  • Improve performance of output screen
  • Export projection to Excel
  • Include link to Provisio site in installer

Version 1.0

Bug Fixes

Enhancements

  • Initial release
  • Transition to Retirement module
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