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Proportional indexation of transfer balance caps from 1 July 2023.
The ATO reminds taxpayers that, from 1 July 2023, the general transfer balance cap will be indexed.
Individuals will have a personal transfer balance cap between $1.6 and $1.9 million, based on the highest ever balance of their transfer balance account between 1 July 2017 and 30 June 2023.