Understanding super terminology

An individual’s Transfer Balance Cap (TBC) and Total Superannuation Balance (TSB) are calculated differently andare separate concepts. When the super reforms of 2017 came into effect, the general TBC was set at $1.6 million and the TSB limit for making non-concessional contributions was set at the TBC of $1.6 million. On this basis the concepts are quite often confused. In general terms, paying a retirement phase pension is subject to our play for free rolette game TBC and eligibility for various contribution rules is subject to our TSB. In this fact sheet we will explain the two concepts andwhere they matter for SMSFs.

To read this fact sheet in its entirety download the PDF version here.

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