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TBC & TBAR – be prepared for 1 July 2023

Recorded live 14 Jun 2023
Transfer balance cap

$360.00 +GST

Audience

This event is recommended for all practitioners working with SMSFs.

Audience

Learning outcomes

  • List the types of events that an SMSF needs to report for transfer balance cap purposes; 
  • Explain the frequency of reporting events and the implication of the new streamlined reporting regime; 
  • Calculate the debit and credit values for transfer balance account events; 
  • Calculate a client’s indexation to their personal transfer balance cap; 
  • Evaluate the circumstances when an SMSF member will have an excess transfer balance account amount, the consequences and action to take; 
  • Assess the reporting methods for transfer balance account events.  
Learning outcomes

Relevancy

This webclass was recorded live 14/06/2023

Relevancy

CPD hours

This course provides 2.5 Legislated CPD hours, the breakdown is as follows:

  • Technical competence: 1.5 CPD hour
  • Regulatory compliance and consumer protection: 1 CPD hour
CPD hours

Transfer balance account reporting (TBAR) helps the ATO track an individual’s transfer balance account (TBA) and so compliance against the transfer balance cap (TBC). Despite the TBAR regime having been in place for nearly six years it remains a topic which generates confusion and questions from our clients. It doesn’t help that the rules around TBAR and the TBC are changing again from 1 July 2023. 

This won demand training will provide a dive into the rules and requirements when it comes to navigating and complying with the TBAR and TBC regime. Incorrect reporting can lead to additional administration work and excess transfer balance tax. We will explain the new streamlined reporting regime applying from 1 July 2023 and the increase in the TBC and what this means for your clients and consider a range of reporting events using case studies to highlight practical considerations and common mistakes. 

Registration to this event includes: 

  • 2 hour recording
  • Learning guide, slides, and case studies
  • Recording and materials available to download for 3 months after purchasing the event  
  • SMSF Association accredited CPD certificate for 2.5 hours 
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Presented by

Melanie Dunn
Principal
Accurium
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