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Re: Exceeding 1.6m Transfer Balance Cap

Newbie

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Hi, I feel confused about 1.6m Transfer Balance Cap for retirement phase. I started a pension valued at $1.5 million on 1 July 2018, which is is under 1.6m cap and can still make 100,000 contribution to the pension. But since there is investment gains so the balance goes over 1.6m, say 1.65m. I understand I do not break the 1.6m limit as the increase is soley from investment gain, not my contrubution. But my question is can I stll make 100,000 contribution to the pension after the balance increases from 1.5m to 1.65m by 150k investment gain? Thanks!

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Most helpful response

Devotee

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The investment gains are ignored, so you can still contribute the additional $100,000 without breaching the cap.  That information is confirmed on this page.

1 REPLY 1

Most helpful response

Devotee

Replies 0

The investment gains are ignored, so you can still contribute the additional $100,000 without breaching the cap.  That information is confirmed on this page.