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  • Excess transfer balance tax

    You are liable to pay excess transfer balance tax if you have an excess transfer balance at the end of one or more days, even if we did not send you a determination. Excess transfer balance tax is generally calculated on your excess transfer balance earnings for the period when you start to have an excess transfer balance to when your transfer balance account is no longer in excess.

    The earnings that attract excess transfer balance tax include earnings that accrue after your determination has issued (even though those earnings don't need to be commuted from your super fund). The earlier you commute your excess the less excess transfer balance tax you'll have to pay.

    Excess transfer balance tax assessment

    If you are liable for excess transfer balance tax we will issue you with an excess transfer balance tax assessment. Excess transfer balance tax is due and payable 21 days after the assessment is issued to you and general interest charge will accrue if any amount remains unpaid after the due date.

    The tax rate is set at 15% for an excess transfer balance in 2017–18.

    From 1 July 2018 onwards, the tax rate is 15% the first time you have an excess transfer balance which increases to 30% if you have an excess transfer balance again.

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      Last modified: 26 Mar 2019QC 54355