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  • General TBC indexed 1 July 2021

    Indexation of the general transfer balance cap (TBC) will occur on 1 July 2021 as the All Groups consumer price index figure for the December 2020 quarter was 117.2. This was higher than the 116.9 figure required to trigger indexation.

    Once indexation of the general transfer balance occurs, no single TBC will apply to all individuals. Instead, individuals will have a personal TBC somewhere between $1.6 and $1.7 million. If an individual already has a TBC, the only place they can view their personal TBC is in ATO online services through myGov.

    We will calculate each individual’s personal TBC based on the information reported to and processed by us. If you report pre 1 July 2021 events after 1 July 2021, we will go back and recalculate the member’s personal TBC and apply that new cap to their affairs.

    Indexation of the general TBC will also lead to changes in a number of other caps and limits in the super system.

    To help you understand the changes and what you need to do to support your members and clients, register for our webinarExternal Link Indexation of the transfer balance cap to be held on Tuesday 2 March 2021 at 2.00pm AEDT.

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      Last modified: 28 Jan 2021QC 64610