I earned $85000 in bank interest and this is my only source of income, can I make a $66800 concessional super contribution which would then reduce my taxable income to $18200 which will in effect mean no income tax for this year. I understand there will be 15% on the $66800 paid by my super. I have checked and I have not made concessional contributions for 5 years, therefore, I have enough carry over limits to cover the $66800.
Confirmation/advice much appreciated
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297 views9 replies
9 replies
297 views
9 replies