ATO guidance on total super balance

Friday 23 December 2016

The Australian Taxation Office (ATO) has published a draft Guideline on how an individual’s total superannuation balance is calculated from 30 June 2017.

The draft Guideline (LCG 2016/D12) confirms that total superannuation balance is the sum of an individual’s:

  • accumulation phase superannuation interests, which also includes deferred superannuation income streams and transition to retirement pensions
  • transfer balance account modified to:
    • reflect the current value of account based income streams,
    • disregard any amounts attributed to personal injury contributions, and
  • rollovers in transit between superannuation funds

This amount is then reduced by any personal injury superannuation contributions.

Total superannuation balance is a new term, introduced as part of the Government’s superannuation reforms that is used to determine an individual’s eligibility to make non-concessional contributions and carry forward unused concessional contributions. It is also relevant for determining whether a small superannuation fund is able to use the segregated method to calculate fund’s exempt pension income.

Comments on the draft Guidelines are due by 6 February 2017.

Further information

ATO, Law Companion Guideline LCG 2016/D12 Superannuation reform: total superannuation balance

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