This page will guide you through the process of:
If you intend to process a pension establishment or pension commutation please refer to the following user guide pages: Pension Establishment and Pension Commutation.
Do not use this screen to move amounts from pension accounts to accumulation accounts or vice versa.
Navigate to Fund Level > Members > Member Account Transfer
Transferring from Reserve to Accumulation Account
- Select the Reserve Account that is being transferred from by using the drop-down
- Select Member Account the balance is being transferred to by using the drop-down
- Transfer Date - following date format DD/MM/YYYY
- Assessable Amount being transferred - This amount is going to count towards member Concessional Contribution Cap.
- Non-Assessable Amount being transferred - This amount is going to count towards member Non-Concessional Contribution Cap.
- Cap-Free Amount being transferred - This amount is not going to count towards any cap.
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Enter Description, or use the Class default one "Member Account Transfer"
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Click Submit
| Cap Purposes | Tax Return Reporting | Class Treatment |
| Transfer from Reserve to Accumulation: Assessable Amount | Count towards Concessional Contribution Cap | Section F/G > Member Information: Label K, Transfer from reserve: assessable amount |
| Transfer from Reserve to Accumulation: Non-Assessable Amount | Count towards Non Concessional Contribution Cap | Section F/G > Member Information: Label L, Transfer from reserve: non-assessable amount |
| Transfer from Reserve to Accumulation: Cap Free | Does not count towards Concessional or Non-Concessional Contribution Cap | It will be part of Member Earnings or Losses. Section F/G > Member Information : Label O, Allocated earnings or losses |
Transferring from Accumulation Account to Reserve Account
- Select Member Account the balance is being transferred from by using the drop-down
- Select Reserve Account is being transferred to by using the drop-down
- Transfer Date - following date format DD/MM/YYYY
- Assessable Amount being transferred - This amount is going to count towards member Concessional Contribution Cap.
- Non-Assessable Amount being transferred - This amount is going to count towards member Non-Concessional Contribution Cap.
- Cap-Free Amount being transferred - This amount is not going to count towards any cap.
- Enter Description, or use the Class default one "Member Account Transfer"
-
Click Submit