Indexing the Personal Transfer Balance Cap

The General Transfer Balance Cap (GTBC) was introduced from 1 July 2017 and is a cap on the how much can be transferred to a retirement phase pension for a member. The cap ultimately restricts the entitlement a fund has to receive a tax exemption on retirement phase earnings. On face value the GTBC concept is relatively straight forward.

Each individual will have their own personal transfer balance cap (PTBC) which will initially align with the GTBC in the year they commence a retirement phase pension. Based on how much an individual commences a pension for will determine how their PTBC is indexed

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Personal Deductible Contributions

To maximize the contributions that can be made to an SMSF, and reduce their personal tax liability, an individual may

SMSFs and the Age Pension

Subject to satisfying eligibility requirements, self-funded retirees may qualify for Centrelink benefits such as the Age Pension or the Commonwealth

How to view your Transfer Balance Cap

From 1 July 2017 a cap was introduced to limit how much can be transferred to a retirement phase pension

Excess Non-Concessional Contributions

The non-concessional contributions cap is $110,000 from 1 July 2021, however the ability to contribute to super is dependent on

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