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17 Percent Death Tax, page-15

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cafa

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17/11/16

14:06

Post #: 20691125
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Originally posted by SYSTEMS ↑

yes cafa, correct on both, all non-taxable and retired for 9.5 years so no need for TPD.

Just to clarify the 3 year business and as this transaction was about 10 years ago I may not have all the facts clearly, however lets use this as the example:
Retired after 40 years in an industrial super fund.
Funds aprox. 50/50 accumulation/tax free.
Roll the 50% accumulation over to tax free as over 60 years old and can take it all out at anytime tax free.
Maximum that could be rolled over at the time was $180k or bring forward by 3 years and it becomes $540k.

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Systems - you are sitting pretty as regards any future tax liability.

Take a tip - your kids will probably be OK, spend the money of yourself and spouse, or treat the grandchildren whilst you can see the smile on their faces. Best.
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