The Tax Free Proportion for pension members can be edited via the Update Member Components section.
|From the Main Toolbar, go to Member.||
|Select Member list.||
- Select the member you are updating the components for.
- In the Account Details section of the Member Edit screen, select Update Member Components.
- Review the date of the journal - the tax free proportion will be updated for transactions beyond this date.
- The Tax Free Proportion % can be edited.
When the Tax Free Proportion % is edited, the following messages will appear:
New tax free proportion will not update existing member transactions: The percentage adjustment will not update any member transactions made prior to the journal date of this change. Previous member transactions will need to be reviewed and/or reprocessed (edited and re-saved) in the Transaction List for them to adjust the taxable and tax free split. Only current year member transactions can be adjusted; any recorded prior to a Create Entries process will not be editable.
Rollover components do not match tax free proportion: Select Yes to update the rollover components to match the new proportion percentage.
- Select Save to update the percentage.