Sentences with phrase «tris was in the retirement»
This means where your TRIS was in the retirement phase your fund can not claim ECPI on the income from the account supporting all the payments.
https://www.ato.gov.au/
As Robert was over 65 on 1 July 2017, the TRIS is in the retirement phase and Robert is a retirement phase recipient.
The TRIS is in the retirement phase on 15 July 2019 (the time of notifying the superannuation provider of his retirement) and Raj commences to have a transfer balance account on 15 July 2019.
Not exact matches
A transition to retirement income stream (TRIS) is only in the retirement phase when the person receiving the TRIS reaches 65 years old or notifies their fund that they have met a specified nil cashing restriction condition of release, such as retirement, permanent incapacity or terminal illness.
A reference to a TRIS in this Ruling is to a TRIS that is not in the retirement phase unless otherwise stated.
A TRIS is only eligible for exempt current pension income and counts towards your transfer balance account when it is in the retirement phase.
Note: From 1 July 2017, earnings from assets supporting a transition to retirement income stream (TRIS) which is not in the retirement phase will not be eligible for ECPI and will be taxed at 15 %.
Funds can no longer claim exempt current pension income (ECPI) from assets supporting a TRIS if the TRIS is not in the retirement phase.
This will apply to all TRIS that are not in the retirement phase regardless of the date the TRIS started.
Note: from 1 July 2017, earnings from assets supporting a TRIS that is not in the retirement phase are not eligible for ECPI and will be taxed at 15 %.
The TRIS is not in the retirement phase at that time as Raj does not meet a relevant condition of release with a nil cashing restriction.
Note: From 1 July 2017, earnings from assets supporting a transition to retirement income stream (TRIS) will not be eligible for ECPI if the income stream is not in the retirement phase and will be taxed at 15 %.
However from 1 July 2017 earnings from assets supporting a TRIS that is not in the retirement phase will not be eligible for ECPI and will be taxed at 15 %.