A TRIS http://www.mcnamaraandcompany.com.au/blog/what-is-a-transition-to-retirement-income-stream-tris

A Transition-to-retirement income stream (TRIS) can be paid to a member who has reached their preservation age even if they have not retired.

Strict annual payment conditions apply:
1.    The minimum annual payment amount depends on the member’s age; and
2.    The maximum annual payment amount is 10% of the member’s account balance.

The current pension income exemption under s 295-385 or 295-390,  Income Tax Assessment Act 1997  and the CGT exemption for assets supporting the fund’s pension liability (see below) are available only if the fund has a current pension liability.

If a Self Managed Super Fund (SMSF) exceeds the maximum pension payment requirements for an account-based pension in an income year, the pension will have deemed to have cease.  Consequently  the fund will also cease to be entitled to treat income or capital gains as exempt current pension income (ECPI) for the year.

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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