The TRIS is in accumulation phase unless you have reached age 65 or have met another nil cashing restriction condition of release (retirement, permanent incapacity, or terminal medical condition) and notified your SMSF.
Enter the total number of accounts that are transition to retirement income stream products that the member has in accumulation phase.
S1 Accumulation phase account balance
Write at S1 the closing account balance of accounts that are in the accumulation phase.
S2 Retirement phase account balance – Non CDBIS
Write at S2 the closing account balance of accounts that are in the retirement phase and are:
- market linked capped defined benefit income streams, or
- other retirement income streams that are not capped defined benefit income streams.
For clarity, income streams included here are the following retirement income streams defined in subsection 307-230(4) ITAA 1997:
- an allocated annuity
- an allocated pension
- an allocated pension – within the meaning of the Retirement Savings Accounts Regulations 1997
- an account-based annuity
- an account-based pension – within the meaning of the Superannuation Industry (Supervision) Regulations 1994
- an account based pension – within the meaning of the Retirement Savings Accounts Regulations 1997
- a market linked annuity – within the meaning of the Superannuation Industry (Supervision) Regulations 1994
- a market linked pension – within the meaning of the Superannuation Industry (Supervision) Regulations 1994
- a market linked pension – within the meaning of the Retirement Savings Accounts Regulations 1997.
S3 Retirement phase account balance – CDBIS
Write at S3 the closing account balance that is held in accounts that are in the retirement phase and are capped defined benefit income streams except capped defined benefit income streams that are market linked pensions and annuities. Capped defined benefit income streams are defined in subsection 294-130(1) of the ITAA1997.
Continue to: S Closing account balance