I am aged 65 and on jobseeker, doing voluntary work to receive the fortnightly payments. If I transfer say $10k from my SMSF, put it into my bank and withdraw it a day later to cover a bathroom reno, do I need to report this to Centrelink and what are the implications ? Thank you for your time
You would need to ask Centrelink about that.
There is no issue for SMSF rules - as long as you are permitted to make the contribution.
You would need to ask Centrelink about that.
There is no issue for SMSF rules - as long as you are permitted to make the contribution.
Thanks. I thought someone here might know. Not sure what you mean about contribution. It was a withdrawal from SMSF and then spend immediately. Cheers
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