Jane is 50 years old and has just sold an investment property. She would like to contribute some of the proceeds from the sale into her superannuation as an after-tax non-concessional contribution. Her superannuation account balance is currently $800,000 and she hasn't made any after-tax non-concessional superannuation contributions in the last 5 years. What is the maximum amount of after-tax non-concessional contributions that can be made into superannuation this year from the sale of her investment property (assuming she can bring forward unused caps from previous years)? Please do not include dollar signs or commas in your answer. Answer:
Jane is 50 years old and has just sold an investment property. She would like to contribute some of the proceeds from the sale into her superannuation as an after-tax non-concessional contribution. Her superannuation account balance is currently $800,000 and she hasn't made any after-tax non-concessional superannuation contributions in the last 5 years. What is the maximum amount of after-tax non-concessional contributions that can be made into superannuation this year from the sale of her investment property (assuming she can bring forward unused caps from previous years)? Please do not include dollar signs or commas in your answer. Answer:
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 40P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT