SCOA has today written to the Assistant Minister for Treasury and Finance, ACT Senator Zed Seselja regarding the calculation of the reversionary benefits in relation to the $1.6 million Transfer Balance Cap legislation which came into effect on 1 July 2017. The government is aware of the unintended consequence of the legislation but has yet to inform SCOA what it is doing to correct the error and when we might expect this to happen.
Click here to read the letter to Senator Zed Seselja
Canberra 19 November 2018.