Class Ltd says it is the first SMSF software provider to deliver Simple BAS functionality, a claim that is disputed by BGL.
Class announced on 26 October that it was the first to include Simple BAS functionality in its software, Class Super and Class Portfolio.
Simple BAS is a government initiative intended to reduce the complexity of GST record-keeping and reporting. It was announced in the 2016 Budget, and started on 1 July 2017 – making 28 October the first due date for quarterly BASs since its introduction.
Class Ltd CEO Kevin Bungard said: “We are pleased to have released Simpler BAS support in advance of the reporting deadline – the first SMSF software provider to do so. The ability to lodge BAS through Class software has always delivered significant time savings for our customers.”
However this claim is disputed by BGL, which makes Simple Fund 360.
“BGL released Simpler BAS in our market leading SMSF admin software, Simple Fund 360, on 12 October 2017,” said BGL Managing Director Ron Lesh, in a post on the BGL website.
“We did not however think this warranted a media release. We have much more important things to inform the market – like the partnership with BT we announced today that will provide our clients massive benefits,” Lesh said, seemingly referring to Class, without naming the company.
“So is this claiming a ‘first’ just more false and misleading advertising ? Probably. Seems to be a way of life for some people,” said Lesh.
Mr Lesh had earlier in October – before the media release by Class – posted an article asking: “Should there be truth in advertising in the SMSF software industry?”
“If I was buying SMSF software today, I would check very carefully the claims made on websites. I would check very carefully what the supplier says their software will do, is actually the truth. I would not be conned by too good to be true offers which contain material that a court may find is false and misleading,” Lesh said in the article.
“BGL has prided itself over the years on having a strong culture of honesty. It is core to what we do. Unfortunately, not all our competitors think the same way. Some will do ANYTHING to make the sale as ‘getting the numbers’ is the only thing important to them. Luckily at BGL we don’t have a share price to worry about. We don’t have to ‘get the numbers’ each quarter to survive.”
“It has often been said ‘buyer beware’. I don’t however think the buyer should need to check the honesty of a software suppliers website…”
Lesh did not name the company or companies he had in mind. Class Ltd is listed on the ASX.
— Daniel Tramontana (@DTramma) October 31, 2017
I just love it when people claim “firsts”. If BGL did a media release every time we did a “first”, we would be doing media releases every day. – @Ron_Lesh Couldn’t agree more! Please no media releases everyday means i have to do more work 😂https://t.co/CAErhaFphX
— Steven Tran (@StevenT_Tran) October 30, 2017