Transition to retirement income streams (TRIS) from 1 July 2017

Transition to retirement income streams (TRIS) from 1 July 2017

With the introduction of the transfer balance cap (currently $1.6 million in 2017/2018), superannuation funds are only able to claim income tax exemptions on assets that are supporting income streams in the retirement phase. Since 1 July 2017, there are now two types...
Transfer Balance Account Report (TBAR)

Transfer Balance Account Report (TBAR)

From 1 July 2017, a limit came into effect on the total amount a superannuation fund member can transfer into retirement phase across all of their superannuation funds.  The limit is referred to as the ‘transfer balance cap’ (TBC) and is currently $1.6...