Superannuation & Retirement Planning - Kaplan STUDY FRIENDS NEEDED!

plan · 02-04-2010, 04:56 PM

Hi

Just wondering with Q1 and tax treatment of the options:

Most of the options will be tax-free, unless he invests his super bal/payment outside Superannuation.

I'm not sure what they want to see? Can anyone steer me in the right direction?

On another note - if Richard transfers his super to Bernie, will this amount become part of B's tax-free component, thereby increasing her tax-free component percentage to over 10%?

Thanks!

AsxBroker · 02-04-2010, 07:04 PM

If it's a undeducted/non-concessional contribution it will.

plan · 02-04-2010, 07:36 PM

Isn't Rich's total super tax-free when he takes it out, as he's 66yrs and retired?

So if he transfers the amount into B's (62 yrs) super, it'll be considered non-concessional? Doesn't that go into the super fund tax-free?

I'm not sure what sort of tax calculation to show if its all tax-free (besides investing outside super).

AsxBroker · 03-04-2010, 06:28 PM

Try doing the calculations with non-concessional and concessional components.

plan · 03-04-2010, 07:37 PM

Thanks. Its a lot more straight forward - I was probably over complicating it.

plan · 03-04-2010, 09:14 PM

Hi

Does the Age Pension income and assets test take into account pension income (even though its not taxable income)?
Seems like the assets test takes into account the balance in the account based pension (allocated pension).
Can someone clarify please?

Thanks

AsxBroker · 03-04-2010, 10:06 PM

Hi Plan,

Did you check out Centrelink's website?

The answers you seek are there.
I think you've already answered your own question.

Cheers,

Dan

plan · 03-04-2010, 10:35 PM

Just checked - got all the answers now... hopefully
Figured how to calc income for the pension.

Now to put it altogether!

FaHCSIA Internet Home Page is a good site - its within the notes. The site provides examples.

The ATO website is also quite helpful - provides examples that are relevant to this assignment.

Thanks for your help.

plan · 05-04-2010, 01:56 PM

Hi

At what point did you show the before and after picture of Rich and Bernie's finances? Till their life expectancy or just after putting the strategies in place?

What sort of things did you show?

Thanks

chelseaC · 04-05-2010, 03:28 PM

Hi, guys,
Did you design a strategy of Richard's super spliting to Bernadette's? there should be a 85% limits in place?

cheers
chelsea