Income Tax Assessment Act 1997



Division 294 - Transfer balance cap  

Subdivision 294-B - Transfer balance account  

Operative provisions

SECTION 294-35   Your transfer balance cap  

Your transfer balance cap for the *financial year in which you first start to have a *transfer balance account is equal to the *general transfer balance cap for that financial year.


The amount of the transfer balance cap is modified for child recipients: see Subdivision 294-E .

Your transfer balance cap for a later *financial year is equal to your transfer balance cap for the previous year, subject to section 294-40 (which is about proportional indexation).

The general transfer balance cap is:

(a) for the 2017-2018 *financial year - $1,600,000; or

(b) for the 2018-2019 financial year or a later financial year - the amount worked out by indexing annually the amount mentioned in paragraph (a).


Subdivision 960-M shows how to index amounts. However, annual indexation does not necessarily increase the amount of the cap: see section 960-285 .


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