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thank you l really appreciate your reply. yes l will recheck the...

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Chris60

3,307 Posts.

106

30/10/24

05:26

Post #: 76364069
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Originally posted by rocket973: ↑

Yes you can contribute yearly an extra $120,000 which is the non-concessional contributions cap. As long as your balance cap is below $1.9 million. The smart idea is to withdraw more than you need and then put it back under the non-concessional rule. This then removes all tax ever payable on those funds.
Always best to check the ATO website as it explains all.
If you have withholding tax taken out in Australia, then you'll get this back once the tax return is done once you've reached 60 yrs.

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thank you l really appreciate your reply.
yes l will recheck the ATO web site.
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