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Your guide to understanding the new Transfer Balance Reporting Requirements...

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Bentleys

Level 3, 216 Saint Georges Terrace

Perth, WA 6000

Australia

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Find out what SMSF trustees can expect under the new SMSF event-based reporting regime. Is your SMSF ready for TBAR reporting requirements that are coming into effect on the 1 July 2018?

Find out what these changes mean for you and how they will affect your SMSF.

With the new super rules beginning on 1 July 2017, your requirement to report information about your SMSF and the pensions it pays you and other fund members may be changing. This is driven by the introduction of the new $1.6 million transfer balance cap which limits the amount of assets you can use to pay pensions from super with.

Currently, pensions only need to be reported once a year through the SMSF annual tax and regulatory return to the Australian Taxation Office (ATO).

From 1 July 2018, if a member of your SMSF has $1 million or more in superannuation and a member of the fund is receiving a pension from superannuation assets then your SMSF will be required to report more information about its members’ pension than currently needed. This is so the ATO can accurately monitor your transfer balance cap to know if you have exceeded the $1.6 million limit. Going over the $1.6 million transfer balance cap limit can result in needing to pay additional tax.

  • Lunch will be provided


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Date and Time

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Bentleys

Level 3, 216 Saint Georges Terrace

Perth, WA 6000

Australia

View Map

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