What Counts as an SMSF Transfer Balance Credit or Debit?
Highlights Credits raise the account when a retirement-phase pension starts; debits lower it, mainly through commutations. Pension payments and investment losses never create debits, and investment gains never create credits. Trustees report events through a transfer balance account report on the ATO's timetable. A credit in an SMSF transfer balance account is an entry that increases it, mainly when a retirement-phase pension starts. A debit reduces it, mainly through a commutation. Ordinary ...









