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Reforming transfer balance cap for Successor Fund Transfers

Regulation changes are reforming the treatment of the transfer balance cap for successor fund transfers (SFTs).

Published 28 October 2024

The Income Tax Assessment Amendment (Superannuation) Regulations 2024External Link commenced on 6 July 2024.

We're working with you to put these changes in place to ensure individuals with a capped defined benefit income stream (CDBIS) aren't negatively impacted by an SFT.

Funds should contact us if:

  • you've been part of an SFT since 1 July 2017,
  • CDBIS members have been negatively impacted and
  • you've not been contacted by us to discuss remediation.

You can lodge an enquiry through our Super Enquiry Service.

Looking for the latest news for Super funds? – You can stay up to date by visiting our Super funds newsroom and subscribingExternal Link to our monthly Super funds newsletter and CRT alerts.

QC103309