What is TBAR?
‘TBAR’ stands for transfer balance account report and is a document notifying the ATO when a Fund member has triggered a transfer balance account event in relation to their transfer balance cap. The transfer balance cap applies from the 1st July 2017 and limits the total amount of superannuation that is transferred into retirement phase i.e. pension mode. You can continue to make multiple transfers into the retirement phase as long you remain below the cap which is currently set…