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  • Excess transfer balance

    This information is for people who are retired and are receiving (or may commence receiving):

    • one or more account-based income streams (where the total value will exceed their transfer balance cap)
    • a combination of one or more account-based income streams and capped defined benefit income streams (where the combined value will exceed their transfer balance cap).

    If you exceed your transfer balance cap, you will have an excess transfer balance and have to pay excess transfer balance tax.

    What is an excess transfer balance?

    Generally, you have an 'excess transfer balance' if the balance of your transfer balance account exceeds your transfer balance cap at the end of a particular day.

    Your excess transfer balance is the sum of:

    If you exceed your transfer balance cap, you will need to remove the excess transfer balance out of retirement phase and pay excess transfer balance tax.

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    See also:

      Last modified: 31 May 2018QC 54355