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Mickky(Initiate)Initiate
8 Feb 2023

I am over 60, receiving a DB PSS pension and $ in accumulation, mostly by salary sacrificing. Before converting accumulation to account based, I would like to withdraw $110k and recontribute in June 2023 and again in July 2023 and then convert to account based. Two questions: Is this worthwhile and are there any compliance issues with this strategy?

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2,836 views
2 replies

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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
8 Feb 2023

  1. Yes, if your death benefit is likely to go to a non-tax dependent beneficiary
  2. Should not be, but depends on your transfer balance cap.

You should get proper licensed advice first.


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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
8 Feb 2023

  1. Yes, if your death benefit is likely to go to a non-tax dependent beneficiary
  2. Should not be, but depends on your transfer balance cap.

You should get proper licensed advice first.


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Recontribution strategy - is it as simple as withdrawing and recontributing? | ATO Community