I am retired and 74 years old. Can I put $100,000 proceeds of an investment sale into super and claim the tax back when I complete income tax form for that year
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Thanks - so i can put $100k directly into my super and thats it - not tax for doing so?
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Hi @Booberol_121,
Yes, you can claim your personal contributions back in your tax return. You need to let your superfund know you're doing it first, by lodging a notice of intent to claim with them and getting acknowledgement back that they accept/allow this. 😎
Thanks - so I meet age restrictions as I am 74 and don't work - So on $100k - instead of paying $15k tax - how much would I pay?
So I can put in $100k into my super without informing ATO and money wont be taxed?
There are work and age restrictions. Retired? You need to meet the work test (or the exemption). See link. Scroll down to work and age restrictions.
Personal super contributions | Australian Taxation Office
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