It said while indexation will occur on 1 July 2023, it won't be displaying members’ personal TBCs until 11 July 2023.

From that date, members will be able to view their personal transfer balance cap in ATO online services, while agents will be able to view their client’s details in online services for agents.

To ensure members’ personal TBC calculations are based on correct and up-to-date information, the ATO is encouraging funds to report any events that occurred prior to 1 July 2023 by 30 June 2023.

The ATO said agents can continue to report TBC information to the regulator between 1 and 11 July 2023, however, it will not be processing reporting during this period.

This means the ATO won’t be able to issue or revoke excess transfer balance determinations sent to a member, or commutation authorities it has sent to a fund.

The ATO asked agents and SMSF trustees to continue responding as normal to commutation authorities during this period.

For more information see ‘Indexation of the general transfer balance cap’.