At the March 2019 Tax Institute’s National Convention, in Hobart, Ms Shirley Schaefer, of accounting firm: BDO Australia, presented her paper, entitled: Super Reporting – What is in and What is out?



1 Transfer Balance Account Reporting

The introduction of the Transfer Balance Cap regime from July 2017 has brought new reporting obligations for all superannuation funds. This is in order for the Australian Taxation Office (ATO) to administer and maintain the Transfer Balance Cap for each individual.

The new reporting framework for all superannuation funds, including self-managed super funds (SMSFs) commenced on 1 July 2018. A superannuation fund is required to lodge a Transfer Balance Account Report (TBAR) when a relevant event occurs. The events that are required to be reported are events that impact the calculation of an individual’s Transfer Balance Account (TBA) maintained by the ATO. The TBAR enables the ATO to record and track an individual’s balance for both their transfer balance cap and total superannuation balance.

This paper specifically considers the reporting obligations of SMSFs.


About the author