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I can't watch or take seriously any woke group that pushes a divisive agenda around an important and benign topic such as super and retirement. Why do you think it's ok to acknowledge one group of Australians over another. Stop it.
Putting the funds into downsizer from a house sale or putting it into a bank account will affect your pension as you need to disclose all your assets to Centrelink. No way to avoid this!
Hi, I’m a bit confused by the carry forward rule… for the past 2 years I’ve had a Div293 payment due to me having excess concessional contribution of $27,500 - each time I wanted to use the carried forward rule for the amount in excess of the $27,500 - but apparently that’s not what it’s for? So is there anyway to use the carried forward to avoid the additional tax for contributions over the $27,500?
The Carry Forward rule is only available to those with a super balance less than $500,000 on 30 June each financial year. The other instance where Div 293 payment is applied, is where the assessable income is above $250,000. The ATO combines the assessable income PLUS super contributions, and the amount above the threshold is taxed at a further 15%. This is unrelated to the Carry Forward rule. We recommend you contact our Member Services team 1300 360 988 or you can use the live chat on our website. They can help you further with your query.
Hi Geoff, thank you for your comment. You are correct, this is a typo and the information presented in this webinar was prepared in February 2023, and accurate as of this time. Thank you again, and if we can assist you at all, please do feel free to get in touch on 1300 360 988 or mail@firstsuper.com.au