This certification is mandatory for all funds where assets are not segregated and income is split between taxed and untaxed elements (due to having retired members). This is expressed as an actuarial tax exempt percentage for the proportion of the fund’s taxable income that is exempt from tax under Section 295-390 of the Income Tax Assessment Act 1997

Otherwise fund income is generally taxed at 15%.

Our tax exempt percentages can also be used to check if your fund has missed any tax exempt income that it was otherwise entitled to – retrospectively – for any year after 2014/15 and incorporates a check of the minimum drawdown rates for allocated pensions announced by the Australian Federal Government including the recent halving of these minimums.

Additionally from 2020/21 and beyond, all funds with retired members will be able to maximise their tax exempt income by electing which method to use irrespective of the use of segregated assets or not.

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