Guidance for legacy products and allocations from reserves

News Tax & Compliance Guidance

Date: 19th Jun, 2025 Source: Australian Taxation Office (ATO) Country: Australia Original Source

Brief

On December 7, 2024, changes were made to the law allowing people to exit certain legacy retirement products. Guidance is now available on commuting these products and their treatment for contribution cap purposes. These updates provide relaxed commutation rules for legacy retirement products, detailing which can be commuted, tax consequences, and correct contribution treatment for allocations from reserves.

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Australian Taxation Office (ATO)

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Guidance for legacy products and allocations from reserves

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Guidance for legacy products and allocations from reserves

Brief

Australian Taxation Office (ATO)

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