| Transitional Reasonable Benefit Limits (RBLs) |
| RBLs) |
Taxpayers who failed to obtain a transitional RBL before the
4 April 1997 deadline will now be able to make a late application. RBLs set the maximum amount of concessionally taxed superannuation and eligible termination payments that a person is entitled to during their lifetime.
Transitional RBLs are available to those taxpayers who can establish a higher RBL under the pre-July 1994 regime than the prescribed RBL thresholds that are now applicable.
This may include those who were over 45 (at 30 June 1994) with relatively higher incomes or those with more than $400,000 of accumulated superannuation benefits at that time.
Transitional RBLs can save you tax, so if you think they may apply to you please contact us to discuss this matter.
7th-August-2001 |
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