Super strategies will soon need to factor in new transfer balance caps

When the legislation to limit the amount that can be transferred into a pension account took effect on 1 January 2017, there was always written into those rules a requirement for the transfer balance cap (TBC) to eventually be indexed. The legislation, the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016, provides that the

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After TBC indexation (it’s on horizon), members could have a ‘personal’ cap

The ATO’s deputy commissioner, superannuation and employer obligations, James O’Halloran, recently spoke at the Association of Superannuation Funds of Australia’s (ASFA) 2019 National Policy Roadshow. O’Halloran offered many revealing insights into ATO activity and planning regarding its superannuation policy and frameworks (see the full text of his speech here), but among these items he referenced

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