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  • Event-based reporting for SMSFs

    The event-based reporting (EBR) framework for self-managed super funds (SMSFs) commenced on 1 July 2018. It enables us to administer the Transfer balance cap. You generally need to start reporting to us, under the EBR framework, when your first member commences a retirement phase income stream.

    You must use the transfer balance account report (TBAR) to report transfer balance cap events to us. The TBAR enables us to record and track an individual's balance for both their transfer balance cap and total superannuation balance.

    We do not use the information you report to us in the SMSF annual return (or that you share with another fund in a rollover benefit statement) to update your member's transfer balance account.

    As soon as we have received and processed your TBAR reporting for a member, the member and their agent will be able to see this information in ATO online or online services for agents.

    There is no 'special circumstances' discretion for contraventions of the transfer balance cap and it is particularly important for all SMSF trustees and members to self-monitor and ensure that members do not exceed their transfer balance cap.

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    Last modified: 07 May 2021QC 54088