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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.

    The transfer balance account report (TBAR) is used to report certain events and is separate from the SMSF annual return (SAR). The TBAR enables us to record and track an individual's balance for both their transfer balance cap and total superannuation balance.

    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: 20 Dec 2018QC 54088