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  • Transfer balance cap

    The transfer balance cap began on 1 July 2017. It is a lifetime limit on the total amount of superannuation that can be transferred into retirement phase income streams, including most pensions and annuities.

    All retirement phase income streams and retirement phase death benefit income streams you receive count towards your transfer balance cap. The age pension (or other types of government payments) and pensions received from foreign super funds do not count towards your transfer balance cap.

    The general transfer balance cap, currently $1.6 million, will be indexed to $1.7 million on 1 July 2021.

    Transfer balance cap changes on 1 July 2021

    Before 1 July 2021, all individuals have a personal transfer balance cap of $1.6 million.

    From 1 July 2021, all Individuals will have a personal transfer balance cap between $1.6 million and $1.7 million. Individuals who start their first retirement phase income stream on or after 1 July 2021 will have a personal transfer balance cap of $1.7 million

    You will be able to view your personal transfer balance cap in ATO online.

    Individuals who had a personal transfer balance account before 1 July 2021 will have a personal transfer balance cap calculated proportionally based on the highest balance of their transfer balance account. Their personal transfer balance cap will not be increased if, at any time before 1 July 2021, the balance of their transfer balance account met or exceeded $1.6 million.

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    Last modified: 27 Jan 2021QC 50880