Hi, I would like to understand how Div 293 applies when TD 2013/22 contribution reserving is used.
For example, Div293 income > $350k and I contribute $25k standard concession plus $27.5k for contribution reserve.
Do I pay Div 293 on the $52.5k?
Note: I'll claim $52.5k tax deduction for FY21. $25k is allocated to my SMSF for FY21 but with the contribution reserving, $27.5k will be allocated to my SMSF for FY22.
thanks very much!
The example there was to bring the taxable income below $250k.
However, what if the taxable income is still higher than $250k after the contribution reserving?
Does the 15% surcharge apply to the $27.5k deduction too?
I read the article as meaning that the the 27.5 K will not be counted for Div 293 in 2021.
Hi, I would like to understand how Div 293 applies when TD 2013/22 contribution reserving is used.
For example, Div293 income > $350k and I contribute $25k standard concession plus $27.5k for contribution reserve.
Do I pay Div 293 on the $52.5k?
Note: I'll claim $52.5k tax deduction for FY21. $25k is allocated to my SMSF for FY21 but with the contribution reserving, $27.5k will be allocated to my SMSF for FY22.
https://www.firstlinks.com.au/contribution-cap-increases-smsf-contribution-reserving-strategies
Thanks Bruce.. I read that and a few other articles prior to posting my query.
The example there was to bring the taxable income below $250k. However, what if the taxable income is still higher than $250k after the contribution reserving? Does the 15% surcharge apply to the $27.5k deduction too?
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