Mon - Fri : 09:00 - 17:00
02 9093 1311


Opinion, News & Information

SMSF update – member declaration required by 30 June 2017


The ATO has released guidance for SMSF members and trustees effected by the 1.6 million balance cap with a member declaration required by 30 June. The member declaration is to give permission to the trustees to commute any balances over $1.6 million into accumulation account. A pension computation request form and trustee minute is required. The ATO release is below for information.


To make it valid;

  • Must be completed before July 1, 2017;
  • Must be in writing;
  • Must be accepted and acknowledged by the Trustees of the Super Fund before July 1 this year;
  • Does not have to stipulate the amount of the withdrawal;
  • It must stipulate the Methodology – order for the Trustees the balance to be reduced, especially where the client has more than one pension in the SMSF; and
  • Must stipulate the order which the pensions are to be reduced.


This is general advice only and if you should wish to discuss further, please contact the office.



Leave a Reply

Peters & Partners

Change brings great opportunity, it’s something we’ve all had to embrace recently and we are excited to let you know of the changes we have made to continue to grow and develop our services to you, our valued clients, and provide opportunities for our team members.

WE’VE MOVED – to Level 10, Aurora Place 88 Phillip St, Sydney

WE’VE MERGED – Parallel Financial Planning and Henderson Edelstein Accounting have joined us, bringing together a vast array of subject matter experts, and therefore providing you a greater service offering and more knowledge in house.

WE’VE CHANGED OUR NAME – to better reflect the combined business and our business focus, we have rebranded to People and Partners, because we firmly believe people and partnerships produce the greatest success

We thank you for your continued support and look forward to providing you a great experience.