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Re(1): DFRDB Tax Balance Cap

I had a letter from the ATO regarding the Tax Balance CAP.

If you have Superannuation the maximum limit you can have without being taxed is $1.6M. This includes not only your Super but any deferred benefits like a Com Sup Pension.

The ATO which acquaints to 16 x times your annual DFRDB benefit. You have an explanation which is on your additional
information DFRDB sheet down the bottom
of the form.

The Transfer of Balance Credit is reported to the ATO and is used or counted towards your TBC.

In other words they the government are looking to obtain your dollars by taxing you if you go over the $1.6m in
Superannuation fund.

Just another way of the ATO getting what is legally and rightfully your money!!!

I sent out an email a couple of weeks ago on this issue to whom ever is in my address book. If you want a copy please send me an email. mick.mcewen@bigpond.com


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