How do I maintain two Accumulation Accounts for one member in Class?
Class only allows one Accumulation Account per member.
The workaround is to maintain this interest outside Class and document the tax-free/taxable percentage.
Based on the legislation Income Tax Assessment Regulations 1997 - Reg 307.200.02, a superannuation benefit in an SMSF is defined as "The combined value of every amount, benefit or entitlement that a member holds in the fund at that time".
Therefore under the proportioning rules, a member will only ever have one accumulation interest in an SMSF.
On the ATO website, Understanding superannuation interests in an SMSF, it states:
Under Income Tax Assessment Regulations 1997 - Reg 307.200.05 of the ITAR (1997) an amount that supports an income stream will always be a separate superannuation interest.
If this balance is for a foreign income stream, for example QROPS fund, refer to knowledge article How to process transfer from foreign super funds into a SMSF in Class for workaround
If this balance is Contribution Reserve, refer to our User Guide, Member Console.