Technically Speaking: Taking a deep dive into the world of non-concessional contributions

With the pending increase to the General Transfer Balance Cap (TBC) expected from 1 July 2023 and the associated bring-forward thresholds also set to increase, now is a great time to re-visit the operation of the non-concessional contributions (NCC) cap.

This technical bulletin provides:

  • A refresher on the mechanics of the NCC cap and some practical considerations when considering the bring-forward rules.
  • A better understanding of the types of contributions that count toward an individual’s NCC cap, as well as when they will be counted to assist in identifying any potential cap breaches.
  • A close look at some unique considerations for SMSF trustees receiving ‘in-specie’ non-concessional contributions.
  • An understanding of a number of technical and practical nuances that arise with the indexation of the TBC and much more …

Login to view the paper below.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association