question archive Which of the following statements about making contributions into super are TRUE: An example of a non-concessional contribution is when an individual deposits some funds from their bank account directly into their super account
Which of the following statements about making contributions into super are TRUE: An example of a non-concessional contribution is when an individual deposits some funds from their bank account directly into their super account
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Which of the following statements about making contributions into super are TRUE:
An example of a non-concessional contribution is when an individual deposits some funds from their bank account directly into their super account. In order to make these contributions the account balance must be below the Transfer Balance Cap and they are normally subject to a 15% contributions tax.
An individual is working full-time but their spouse decides to cut back in their paid work to only 2 days per week while they raise some young children. The spouse’s income is only $30,000 per year. It may be possible for the individual to make a non-concessional contributions into their spouse’s super account and claim a tax rebate for doing so.
