I have a client that is 57. He has a TTR setup. The platform provider has told him he can – setup a TTR. Withdraw his 10%. Send his money back to accumulation, then setup another pension account (within days of the first withdrawal) and then withdrawal another 10% and can keep going back and forth “refreshing” his account and taking another 10%….. surely this isn’t correct….. else why have a 10% rule in the first place….
Unfortunately we are unable to provide you with advice about your client’s superannuation arrangements as it is essentially a matter that is not within our client focus.
A professional taxation adviser (such as an accountant) is best placed to advise him on the complex rules surrounding this issue, based on a detailed understanding of your client’s circumstances.
We presume that the platform provider, in enabling your client to act in this manner, has taken its own advice and is satisfied that it is a legitimate strategy. You might consider contacting the platform provider and discussing it with them directly.