Transfers from reserves

Transfers from reserves are not contributions. However, if your fund allocates an amount from its reserves which meets certain conditions, your super fund must report it. It will count towards a contributions cap.

Transfers from reserves can be assessable or non-assessable.

Assessable transfers from reserves

Assessable transfers from reserves count towards your concessional contributions cap.

The assessable amount is the amount that is taken to be a concessional contribution. This is because your fund allocated the amount to your account from a reserve and it meets the specified conditions. In some circumstances, the amount reported may be greater than the amount actually allocated to you. This is to take into account the contributions tax your fund would normally have had to pay.

See also:

• Regulation 291-25.01 of the Income Tax Assessment Regulations 1997

Non-assessable transfers from reserves

Non-assessable transfers from reserves count towards your non-concessional contributions cap.

The non-assessable amount is the amount that is taken to be a non-concessional contribution. This is because your fund allocated an amount to your account from a reserve which was not included as assessable income of the fund.

See also:

• Regulation 292-90.01 of the Income Tax Assessment Regulations 1997