Reasonable Benefit Limit. The maximum amount of ETPs or superannuation payouts that an individual may receive at concessional rates of tax.
Reasonable Benefit Limit. refers to the amount of money a person can have in superannuation and rollover funds that is given favourable tax treatment. These amounts are indexed to average weekly ordinary time earnings.
Reasonable Benefit Limit. is the maximum amount of concessionally taxed super you can receive in a lifetime. Anything over this amount will be taxed at the highest marginal tax rate.
Reasonable Benefit Limit. Term given to the maximum superannuation benefit which a person can receive over a lifetime and receive tax concessions. RBLs are more generous for Complying Pensions than they are for lump sums.
Abbreviation for Reasonable Benefit Limit.
Reasonable Benefit Limit. The maximum benefit which members of superannuation funds are permitted by the Government to receive on a concessionally taxed basis either as on lump sum ( Lump Sum Reasonable Benefit Limit) or a pension ( Pension Reasonable Benefit Limit). From the commencement of the SIS Legislation on 1 July 1994, RBLs are set at a flat dollar amount for all retiring members (previously the limit was calculated by reference to the member's salary prior to retirement). More generous RBLs apply in respect of pension benefits than lump sum, reflecting the Government's policy of encouraging the provision of benefits as an income stream and reducing opportunities for double dipping.
Reasonable Benefit Limit. The maximum level of superannuation benefit which an individual can receive over a lifetime on a concessionally taxed basis. The RBL is much more generous if the benefit is taken as a pension than as a lump sum.
Reasonable Benefit Limit. A person's RBL is the amount of concessionally taxed superannuation and roll-over benefits that the person can receive. Most Eligible Termination Payments count towards a person's RBL. Amounts received over the RBL limit are called ‘excess benefits' and are taxed harshly. The standard lump sum RBL is $648,946 for 2005/2006. The Pension RBL is $1,297,886 for 2005/2006. Some people have higher RBL's called transitional RBL's. The pension RBL is available if at least half of the lesser of benefit or the pension RBL is taken in the form of a ‘complying pension/annuity'.
Reasonable Benefit Limit. A Government-imposed maximum on the benefits that a person can receive into their superannuation fund at a concessional tax rate.
Reasonable Benefit Limit. The largest benefit which superannuation fund members are allowed to receive on a concessional tax basis by the government, either on a lump sum or on a pension.
Reasonable Benefit Limited. the maximum superannuation benefit a person can build up over their lifetime, which is taxed on a concessional basis.
Reasonable benefit limit. A limit on the amount of certain retirement benefits you can receive that are taxed at concessional rates. These include super benefits - both lump sum and income streams, employer ETPs and the CGT-exempt component of an ETP arising from the sale of certain small business assets. There is a lump sum RBL and a pension RBL. These are generally dollar amounts that are indexed each tax year. The part of any benefit you receive that is over your RBL is known as an excessive benefit.
