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What is the point of this idiocy? I set up my own superfund many...

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spruik

7,329 Posts.

16/09/17

10:08

Post #: 27261846
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Originally posted by hlingh ↑

I understand that with super changes taking effect from 1^st July, a smsf retiree over 65 cannot make a contribution (including concessional contribution) to her/his super.
Q1/ Does this mean that she/he cannot participate in any capital raisings such as SPP, rights issues, etc of any of her/his share holdings?
Q2/ What happens to the case when a retiree (member A) over 65 has a joint share of a smsf super fund in the ratio of 80 to 20 with member B who is 60 years old. Let’s say their CBA share has a SPP capital raising and the fund takes up $10000 in new CBA shares. Are all the new CBA shares to be allocated to member B during the ensuing accounting process as member A cannot contribute to his/her fund?
Many thanks to your answers.

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What is the point of this idiocy?

I set up my own superfund many decades ago... as there was a tax incentive. Government took away the incentive so I closed the fund. Clowns at the top.
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