Taxation Administration Act 1953

The Commissioner must notify you in writing if, at the end of a day after the Commissioner has issued an *excess transfer balance determination to you:

the sum of all *transfer balance debits arising in your *transfer balance account since the determination was issued falls short of the *crystallised reduction amount; and

you have *excess transfer balance in your transfer balance account; and

either:

the only *superannuation income streams of which you are a *retirement phase recipient are *capped defined benefit income streams; or

you are no longer a retirement phase recipient of any superannuation income stream.

A debit arises in your transfer balance account when the Commissioner issues a notice under this section: see item 7 of the table in subsection 294‑80(1) of the Income Tax Assessment Act 1997.

A notice under subsection (1) must state the amount of the *excess transfer balance mentioned in paragraph (1)(b).