Taxation Administration Act 1953

SCHEDULE 1 - 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 - SUPERANNUATION  

Division 136 - Transfer balance cap  

Subdivision 136-A - 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.


TABLE OF SECTIONS
TABLE OF SECTIONS
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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