There is growing industry concern about the ATO potentially deeming the traditionally straightforward move from a transition-to-retirement income stream (TRIS) to an account-based pension as a new pension interest, a technical expert has revealed.

The complexities of identifying and applying capital gains tax (CGT) relief for SMSFs has resulted in professionals working together to ensure their clients did not miss out on the one-off tax concession, according to BT Advice Technical.

Many SMSF advisers are grappling with which of their clients’ pension accounts to roll back, yet any further taxation changes made by the government will have a significant impact on the final decision, an industry SMSF lawyer has warned.