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Very useful info... some things in here I didn't understand.. I do have a Binding Death Benefit Benefactor..only because someone said I should ! Not cause I understood it..
Another great video. If you have a large balance (eg. 1.8m) in Pension mode, I assume that before doing a "recontribution strategy" that you should commute your Pension back to Accumulation before withdrawing and recontributing in order to not hit your Transfer Balance Cap?
@@SuperGuyAu thanks for the quick reply - It would seem that withdrawing and recontributing, with a large balance (over a $1m) that you will never get to having the entire balance be tax free over 9 or 10 years, given the proportioning rules on withdrawal (taxable v tax free). Would having 2 seperate super pension accounts (one for just fo receiving tax free contributions) be a viable strategy?
Even the Monty Python team couldn't come up with the absurd complexity of the Australian tax & superannuation laws. Listening to this material is worthy of a skit. "take your money out & put it in again to avoid death benefit tax" - You really cant make this stuff up!
Sadly, it is so complicated, and ensures that a huge chunk of estates, for most people, are going to solicitors and the ATO. I'm doing an Estate now, and I have to go down so many rabbit holes to get all of the facts and rules regarding Superannuation.
