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 webclass 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: