“If you use the $20,000 to make a concessional contribution… net tax saving of about $3,400”
♫
Said on Get Started Investing
“You would use the notice of intent to claim on the form… total contributions 400,000… intend to claim as a personal deductible contribution, 10,000. …they’ll take $1,500.”
Mark McGrath · Retire Right · 442 Super contributions over $500k, selling the IP, the bucket strategy debate + more
Play from 6:11
6:11
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What was described
Use a Notice of Intent to Claim form to reclassify part of a non-concessional contribution as a personal concessional contribution, causing the superfund to deduct 15% tax on that amount
example: contribute $400,000, claim $10,000 as concessional → $1,500 tax withheld
Said nearby on the same subject
“Contribute… into the fund in one tax year… take the full deduction immediately… distribute grants… over the following years”
AK
Amanda Kish
Motley Fool Hidden Gems Investing ·
“We've got a flat tax rate... contribute, pay 15% tax, 10% capital gains tax until retirement. And then you pay no tax.”
SW
Stuart Weems
Investopoly ·
“The annual cap on this before tax contributions currently sits at around $32,500 a year. And if you haven't used your full cap in previous years, you can often carry forward the unused amount for up to five years”
DR
Dev Raga
Dev Raga Personal Finance ·
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