smsf tax bill, page-14

Dayz71...
Ok, it is clearer now. It was $25,000 in for each. The tax bill was as you mentioned plus levy.

The only thing, we were told to redraw $100,000 to contribute into super to offset capital gain. I think perhaps this could have been an error as, was the year before the limit for concessional contributions $50,000 each? I have it in writing that this is what we should have done, so no misunderstanding on my part here. Obviously our cgt bill is now going to be higher than we anticipated - I could have sold a couple more loss making shares.

At the time we had come through an extended period of difficulty and i was struggling to get things done in time before leaving on a recuperative holiday after prolonged stress (years). So, hadn't been so switched on. On returning my Mum had a massive stroke and passed away soon after.

I can't do anything about the past but I can certainly try to get on top of all this going forward.

Cheers...
Cazzex