Recent updates from the Australian Taxation Office (ATO) and the Institute of Public Accountants (IPA) highlight key regulatory developments, including concessional contribution adjustments, transfer balance cap indexation from 1 July 2026, and upcoming AML/CTF obligations for certain accounting services.
Lodge requests to adjust concessional contributions online
Use Online services to avoid delays when adjusting concessional contributions.
If you need to request an adjustment to concessional contributions for your SMSF (self-managed super fund), make sure you lodge the form correctly to avoid processing delays.
The ATO has updated its webpage to clarify how to lodge the Request to Adjust Concessional Contributions (NAT 74851).
To help the ATO process requests faster:
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Use Online services for agents or Online services for business to send a PDF copy of the completed form.
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Select the correct mail topic: Superannuation, and the subject Payment and transfer of superannuation holdings reserve.
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Complete all sections of the form and sign the declaration before lodging.
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Include tax file numbers (TFNs) where possible. While TFNs aren’t mandatory, not providing them may delay processing.
Lodging online is the fastest and most efficient option. Using the correct online channel helps the ATO process the request sooner and reduces the risk of misdirected forms or unnecessary follow-up. The form can still be posted to the address shown if unable to lodge online.
For more information on how to complete the form, see Request to adjust concessional contributions.
General transfer balance cap indexation on 1 July 2026
Indexation of the general transfer balance cap will occur on 1 July 2026.
Indexation of the general transfer balance cap (TBC) will occur on 1 July 2026. This cap will increase by $100,000 from $2 million to $2.1 million. The defined benefit income cap (DBIC) will increase to $131,250 (from $125,000) for the 2026–27 income year.
This increase has flow through impacts for individuals with a personal TBC. These individuals will be entitled to an increase of their cap if they have not previously been at, or exceeded, their cap. Their increase will be a proportion of the $100,000 and will depend on their unused cap space. Individuals starting a pension for the first time on or after 1 July 2026 will be entitled to a personal TBC of $2.1 million. Individuals can view their personal TBC in ATO online services through myGov.
The ATO will calculate an individual’s personal TBC based on the information reported to and processed by the ATO. To help individuals have a clear understanding of their position, the ATO encourages funds and advisers to report all TBC events when they occur and as early as possible before the 1 July 2026 indexation start date.
Indexation of the general TBC has flow through consequences for the Total Super Balance (TSB) thresholds. The TSB influences an individual’s non-concessional contributions cap, non-concessional bring forward arrangement, carry-forward concessional contributions, the work-test exemption and eligibility for spouse tax offset, and co-contributions.
AML/CTF Tranche 2 reforms for professional accountants from 1 July 2026
The new anti-money laundering / counter-terrorism funding (AML/CTF) tranche 2 reforms will come into effect for professional accountants from 1 July 2026.
The reforms will only apply to accountants who provide certain designated services to clients.
Designated services include:
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assisting in the planning or execution of a transaction to sell, buy or transfer real estate
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assisting in the planning or execution of a transaction to sell, buy or transfer a body corporate or legal arrangement
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receiving, holding, controlling or managing a person’s property to help in the planning or execution of a transaction
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assisting in organising, planning, or executing a transaction for equity or debt financing relating to a body corporate or legal arrangement
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selling or transferring a shelf company
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assisting in the planning or execution of the creation or restructuring a body corporate or legal arrangement
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acting, or arranging for someone to act on behalf of a person in particular positions in a body corporate or legal arrangement
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providing a registered office address or principal place of business address of a body corporate or legal arrangement
If you do not provide any designated services, you will not be impacted by the requirements unless you start providing designated services in the future.
If you are providing a designated service, you will need to:
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enrol and register with AUSTRAC before 1 July 2026 (registration will open from 31 March 2026)
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develop and maintain an AML/CTF program tailored to your business
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get your staff ready to implement your obligations (if applicable)
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conduct initial and ongoing customer due diligence (CDD)
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report certain transactions and suspicious activities
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make and keep records
AML/CTF – will I be regulated?
AUSTRAC have written to accountants outlining their obligations under the upcoming AML/CTF regulations, which commence on 1 July 2026.
AUSTRAC AML/CTF reform guidance provides valuable information on whether you provide designated services and will be required to register with AUSTRAC. You can also self-assess using AUSTRAC’s checker tool.
If you have any specific questions, please email them to amlqueries@publicaccountants.org.au. IPA will compile your questions to develop a set of Frequently Asked Questions to assist members.
Source: Australian Taxation Office and Institute of Public Accountants
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