Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
Note: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxes
PART 3-20
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SUPERANNUATION
Division 136
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Transfer balance cap
Subdivision 136-A
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Excess transfer balance determinations
Guide to Subdivision 136-A
SECTION 136-5
WHAT THIS SUBDIVISION IS ABOUT
If your transfer balance account exceeds the transfer balance cap, the excess must be reduced by commuting in full or in part your superannuation income streams that are in the retirement phase.
If you have more than one superannuation income stream, you may choose which one to commute.
Operative provisions | |
136-10 | Excess transfer balance determination |
136-15 | Review |
136-20 | Electing to commute a different superannuation income stream |
136-25 | Notifying Commissioner of transfer balance debits |
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