by Duc Hong
The contribution splitting rules can be utilised to benefit your clients in a number of ways. To be eligible to split contributions with a spouse, a number of conditions must be met including:
Some of the potential strategies include, where:
Once a benefit is split it is treated as a transfer or rollover into the spouse’s own superannuation account, which may be with the same fund or an external fund.
Funds are not obliged to offer members the ability to split and it is possible some public offer funds may charge a fee to process requests.
by Alex Polorotoff Concessional contributions The concessional contribution cap is currently $25,000. This applies to all concessional contributions, even if they […]
It may only be the start of winter, but with the fallout from Covid-19 some of you may already be […]
Keep up to date with all the latest SMSF news and updates by subscribing to SMSF Engine’s newsletter.