Excess Transfer Balance Determinations – ATO will send from January 2018 – guidance for SMSF members and trustees
From January 2018 the ATO will start sending Excess Transfer Balance (ETB) Determinations to individuals who have exceeded their transfer balance cap and not rectified the excess. These will generally be based on information APRA funds will have reported to the ATO. If an SMSF member receives one of these ETB Determinations, remember: If the SMSF trustee must…