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ARTICLE · 05 AUGUST 2013

ATO issues final view on when a superannuation income stream commences and ceases - TR 2013/5

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The ATO has issued the final ruling on when an account based or transition to retirement income stream commences and ceases.

AustraliaTax
Greg Cahill
Greg Cahill
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On 30 July 2013 the ATO issued TR 2013/5 - the final ruling on when an account based or transition to retirement income stream commences and ceases. This was initially released in July 2011 as TR 2011/D3

When the ATO's view applies from

TR 2013/5 applies from 1 July 2007. The good news is the ATO will not take any compliance action where an income stream ceased because of the death of a member before the 2012-13 income year.

When a pension starts

A pension starts when the pension documents say it starts, which:

  • can be before the date of the first payment, but
  • cannot be before the member applies for a pension; and
  • cannot be before the trustee of the fund receives the rollovers or contributions that are funding the pension.

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