{"id":1454,"date":"2023-02-01T05:22:34","date_gmt":"2023-02-01T05:22:34","guid":{"rendered":"https:\/\/actinvest.com.au\/?p=1454"},"modified":"2023-02-01T05:22:35","modified_gmt":"2023-02-01T05:22:35","slug":"tbc-set-for-double-indexation-from-1-july","status":"publish","type":"post","link":"https:\/\/actinvest.com.au\/index.php\/tbc-set-for-double-indexation-from-1-july\/","title":{"rendered":"TBC set for double indexation from 1 July"},"content":{"rendered":"<p><strong>The general transfer balance cap is set to increase to $1.9 million from 1 July based on CPI figures released today.<\/strong><\/p>\n<p><img loading=\"lazy\" alt=\"\" height=\"351\" src=\"https:\/\/acctweb.com.au\/images\/fp-double-index.jpg\" width=\"475\" \/><\/p>\n<p>.<\/p>\n<p>In\u00a0CPI figures released by the ABS\u00a0today, the All Groups CPI figure for the December quarter was 130.8.<\/p>\n<p>With the All Groups CPI figure above 130.7, the general transfer balance cap is set to index to 1.9 million for 2023-24 income year.<\/p>\n<p>Last week, BT technical consultant Tim Howard predicted the general transfer balance cap was \u201calmost certain\u201d to be raised to $1.9 million.<\/p>\n<div>\n<div>\u00a0<\/div>\n<\/div>\n<p>For advisers with clients planning to start a retirement income stream before 30 June 2023, Mr Howard said it may be worth considering if this will lead to the best outcome for them.<\/p>\n<p>With the total super balance threshold linked to the general transfer balance cap, this threshold will also rise to $1.9 million from 1 July 2023.<\/p>\n<p>Mr Howard said it is also important for advisers to therefore consider the impact of the indexation increase on their clients contribution strategies.<\/p>\n<p>\u201cThe TSB is used, amongst other things, to determine the level of non-concessional contributions that can be made by a client into super in a particular income year,\u201d Mr Howard explained.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<div>\n<div>Miranda Brownlee<\/div>\n<\/div>\n<\/div>\n<div>\n<div>25 January 2023<\/div>\n<div>smsfadviser.com<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><strong>The general transfer balance cap is set to increase to $1.9 million from 1 July based on CPI figures released today.<\/strong><\/p>\n","protected":false},"author":1,"featured_media":1455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1454"}],"collection":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=1454"}],"version-history":[{"count":1,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1454\/revisions"}],"predecessor-version":[{"id":1456,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1454\/revisions\/1456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media\/1455"}],"wp:attachment":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=1454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=1454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=1454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}