Is the $100,000 threshold per person and determined by the allocation of monies within the SMSF, or is the $100,000 threshold based on the total income?
A: It is worked out on an individual basis. The Fund's total income for the year is apportioned between the members, based on effectively their average balance.
If a member's income is > $100,000, then tax would be be payable on the amount in excess at 15%.
I hope this answers your question.