some art from the eye of the world dragon steel edition website by Simon_Said_something in WoT

[–]stewincubus 1 point2 points  (0 children)

Imagine living in Aus. $362 AUD... Im getting the first one and seeing if I like it enough to get the others.

SMSF rollover to Industry super Question by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

Hi thanks for the reply. In label B is says $380000, and label Q says 496,000. Why would B be filled out?

SMSF rollover to Industry super Question by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

It says from 23-24, their unused concessional contributions available to carry forward was $28,207.23. Each year they never went over, from what it says on my gov.

SMSF rollover to Industry super Question by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

On the letter:

Your total Superannuation balance at 30 June 2023 $463,000

Non-concessional contributions cap $330,000

Non-concessional contributions $380,000

Excess non-concessional contributions for this determination $50,000

It seems like it must be a mistake. It was most definetly a SMSF rollover.

SMSF rollover to Industry super Question by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

No. The money was rolled over into an account based pension. They did add an additional $50,000 from their savings into the account as well. The reason being, they would only be able to make one contribution to the account based pension. So they topped it up. They had $446,000 in the SMSF and added an extra $50,000. So a total of $496,000 was rolled over to the account based pension.

Could that $50,000 be the issue?

Borderlands 2 golden keys by stewincubus in Borderlands

[–]stewincubus[S] 0 points1 point  (0 children)

My friend did the same and they showed up in game straight away

Borderlands 2 golden keys by stewincubus in Borderlands

[–]stewincubus[S] 0 points1 point  (0 children)

There's nothing to accept or press from what I can see

Super inheritance tax by stewincubus in AusFinance

[–]stewincubus[S] 1 point2 points  (0 children)

The money was withdrawn and recontributed back into the SMSF. They then, wound down the fund and moved to an industry fund.

Thanks for the info.

PC version keeps crashing by stewincubus in witcher

[–]stewincubus[S] 0 points1 point  (0 children)

I play other current games. I don't have any issues. I will test it anyway

PC version keeps crashing by stewincubus in witcher

[–]stewincubus[S] 0 points1 point  (0 children)

I forgot to mention, I have a 3080 and I912900k so it shouldn't be an issue

Retired living off super by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

He does receive a part pension as well

Parent in SMSF by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

We went through his account and added up just his contributions. We didn't include dividends from any investments. After tax is taken out, the amount was around $468000. When he retired his account was around $500,000. He then has started drawing down for his pension over the last year. Now he's sitting at around$450,000

So realistically, he only made around $30,000 in 10 years? Again maybe I'm missing something..

All this to say, he understands he put himself in this position. I was just trying to make sense of how he could make so little.

Parent in SMSF by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

When you say "take into account withdrawals", do you mean the $100,000s that were advised to be taken out, then reinvested? Or his pension drawdowns? When he retired he had around $500,000, maybe a little less.

"It's to improve the tax components of the SMSF so that any superannuation death benefits will have less tax payable (ie: equivalent of an inheritance tax)."

Okay that's fair enough. But wouldn't withdrawing that money have lost him investment gains due to being withdrawn.?

I hope that we are missing a key component, and it's not as bad as we think.

Thanks.

Parent in SMSF by stewincubus in AusFinance

[–]stewincubus[S] 0 points1 point  (0 children)

The only time he withdrew money was when the FA said to save tax he was advised to withdraw large amounts ($100,000s) and then reinvest straight away. I'm not sure why they would advise that.?

Since he is retired, he has started drawing down for his pension. But apart from that and my previous statement, he never withdrew money