Non Concessional super Deposit

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  SF3 on 21/04/2021 - 19:46

  +2

  Ask your accountant? And what s/he say, so we might be able to fill in the gaps?

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  Mechz on 21/04/2021 - 20:01

  +2

  Call your super fund.

  • 

    SF3 on 21/04/2021 - 20:03

    +1

    This may have been the form asked to be filled in.

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  Tom088 on 21/04/2021 - 20:39

  +2

  Yes, and you may be able to contribute more than $100k as a non-concessional contribution under the bring forward rule. It's only once you turn 67 that you have to still meet the work test to make non-concessional contributions.

  Here is a good place to start: https://www.esuperfund.com.au/learn/contributions-to-smsf/no…

  • 

    Maree2910 on 21/04/2021 - 20:44

    thank you

  • 

    akyeeeahdude on 21/04/2021 - 23:48

    BTW Bring forward rule eligibility changes at 65…

    ÄTO Website "If you are 65 years old or younger at any time in a financial year, you may be able to make non-concessional contributions of up to three times the annual non-concessional contributions cap in a single year."

    https://www.ato.gov.au/Individuals/Super/In-detail/Growing-y….

    There is a Bill with Parliament that if passed, will increase the age to 67.

    Also your eligibility to make non-concessional contributions (and utilise the bring forward rule) and your personal cap may be different based on your total super balance (as you haven't mentioned how much you have in super). See here https://www.ato.gov.au/individuals/super/in-detail/growing-y…

    BTW consider getting financial advice.

    • 

      Maree2910 on 22/04/2021 - 09:05

      Thank you Differently under the cap

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  poboy on 21/04/2021 - 21:24

  -1

  Y'all can also claim the concessional caps for the previous 3-5 years or so if you haven't used them up. Look it up bro.

  Word.

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  blueyez on 23/04/2021 - 17:21

  Non concessional means an after tax contribution. By putting the money into your super from your own bank account it won't get taxed again.

  Limit is $100k each financial year, or up to a max of $300k which triggers the bring forward rule.

  Speak with your accountant or financial advisor as to whether or not they suggest that you would benefit from claiming a tax deduction.