The Federal Government has proposed changes to the approach to claiming exempt current pension income (ECPI). Whilst these proposed changes are to commence from 1 July 2021, we are yet to see any draft legislation.

Accurium’s Retirement Insights Report into ECPI

Accurium has just launched our latest research into SMSFs claiming ECPI. Our SMSF retirement Insights Report (volume 9)  “The retirement phase tax exemption” explains the current methodology for claiming ECPI, details the proposed changes and looks at how they may be implemented.

The research analyses Accurium’s database of around 65,000 SMSFs to determine how many are likely to impacted by the proposed changes. We also analyse the effect of the introduction of the transfer balance cap on amount of ECPI claimed by SMSFs.

Our Insights report, which includes helpful flowcharts to ascertain if an SMSF has ‘disregarded small fund assets’ and whether an SMSF needs an actuarial certificate, can be downloaded from the link below.

SMSF Retirement Insights – Volume 9: The retirement phase exemption

Have your say on the proposed ECPI changes

It’s been over three years since the last major overhaul of how SMSFs approach claiming ECPI. These latest proposals are intended to reduce complexity, but this will depend on the draft legislation, yet to be seen. We are interested in your thoughts on the proposed changes and what changes, if any, you would like to see to the approach for SMSFs claiming ECPI.


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