What should you put in the 'Current Year ABP Income Payment' and 'Tax Free Component Proportion' of the Account Based Pension?

For the current year pension payment, you can put the minimum amount which is calculated in the form.  Alternatively pick an amount above the minimum. It is not binding on the member or trustee. 

The formula for calculating the tax free component of an account-based pension for SMSF is the total value of the after-tax contributions made to the pension divided by the total value of the pension. After tax contributions are basically non-concessional contributions. 

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024