Total Superannuation Balance

This is a tricky one for some SMSFs as SMSF administrators now need to know if you have other superannuation interests other than your SMSF.

The bottom line is that if you meet the general transfer balance cap of $1.6M at 30 June in any year,  you are ineligible to make non-concessional contributions to any of your superannuation interest accounts.

  • Your total superannuation balance is calculated by:

    • adding together
      • the accumulation phase value of your super interests that are not in the retirement phase
      • if you have a super income stream in the retirement phase, your ‘transfer balance’ or your ‘modified transfer balance’ (but not if it is less than nil)
      • the amount of any rollover superannuation benefit not already reflected in the accumulation phase value of your super interests or your transfer balance (that is, rollovers in transit between super funds on 30 June), then
    • subtracting any personal injury or structured settlement contributions that have been paid into your super fund(s)
Self Managed Super Funds