Hi ATO Community,
I am a 61-year-old retiree and my wife is a 62-year-old retiree.
We both currently have superannuation accumulation accounts.
I'm seeking clarification on a proposed strategy with my query being around the order of actions / timing for withdrawal from my superannuation account and re-contribution into each of our superannuation accounts to enable a mix of both CONCESSIONAL and Non-Concessional contributions.
1. Our plan is to withdraw $275,000 from my superannuation account into our bank account (late May 2026).
2. We then intend to re-contribute $120,000 from our bank account back into my superannuation account and $120,000 from our bank account into my wife's superannuation account as non-concessional contributions in early June of the current 2025-26 financial year.
3. We have made no non-concessional personal contributions this financial year.
4. We then intend to re-contribute $20,000 from our bank account back into my superannuation account and $15,000 from our bank account into my wife's superannuation account in early June of this current 2025-26 financial year with each of these contributions to be allocated/notified to our super fund as being CONCESSIONAL contributions (notification to occur prior to submitting our tax returns).
5. I have a mix of salary sacrifice / former employer totaling $10,000 and my wife has $0 in CONCESSIONAL contributions this financial year.
6. Is this strategy / timing of withdrawing and recontributing acceptable to ATO rules for qualifying as CONCESSIONAL contributions?
Regards,
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