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New super proposals $1.6m transfer balance limit, page-12

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pintohoo

83,220 Posts.

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21/09/16

19:46

Post #: 19325993
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Originally posted by uraniumu308 ↑

This is the sticky point of the question
Say there is A and B in the fund the fund has $1.6 M in pension phase
When an audit is done the ATO know what percentage A has invested and B has invested in the fund
so when there is a payment each gets a percentage so if A invested 70% and B has 30% if the payout is say $50000
A gets $35,000 and B gets $15,000 the problem I see is there is no HOTLINE you can call to get an answer if A has invested 100% then what? A gets $1.6 M so how can B get $1.6 M so a fund with 2 people may still only get $1.6 M??

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It's per account - per individual.
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