Yes that is correct, $1.9 mill can go into the pension stage. Its best to do the full amount as any income or profits is not taxed. If you're a good stock picker then you can boost the $1.9 mill to $3 or $4 mill, and you'll pay no tax on this unless Albo the Di*khead brings in the $3 million new 15% tax. If that happens best to get the full amount into the Pension stage as in the accumulation stage it will be 30%.
If you have children who you wish to inherit any left over funds then be aware of the fact that they'll pay tax on this if you made concessional contributions. There is a clever way out of this by making withdrawals and re-depositing. This removes any tax forever as its a non concessional contribution. You can do about $120,000/year so the earlier you start the better. I've done this in my 2 x SMSF, yes I run two SMSFs independently.
Obviously talk with an accountant, but believe me its best to read the Government website so you know yourself, there are plenty of accountants who are near useless.
