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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 43979
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I AM 68 YEARS OLD AND MEET THE WORK TEST WHAT ARE THE CONCESSIONAL

Customer Question

I AM 68 YEARS OLD AND MEET THE WORK TEST WHAT ARE THE CONCESSIONAL AND NON CONCESSIONAL CONTRIBUTIONS I CAN MAKE TO MY SUPER
KIND REGARDS
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good AfternoonMy name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.Can you please be more specific what you are asking about?Do you want to know what the maximum contributions per annum are?
Customer: replied 1 year ago.

yes the maximum contributions i can make per annum i meet the work test i am 68

Expert:  Leon replied 1 year ago.
The Concessional contributions are capped at $35,000.00 for the 2015 and 2016 tax yearshttps://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=2#Contributions_capsNon Concessional cap is $540,000.00 as you are over 65 years of age. http://www.superguide.com.au/how-super-works/your-guide-to-non-concessional-after-tax-contributionsI hope this makes sense and is of assistance If there is nothing further thank you for using my services. If I have missed anything, or you have any further questions please let me know If there is anything else in the future please do not hesitate to ask. Please do not forget to leave positive feedback. RegardsLeon
Customer: replied 1 year ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Leon replied 1 year ago.
I have offered you additional services. This changes the relationship and it has to be at my hourly rate.
Customer: replied 1 year ago.
do i have to pay tax on that $35000 at my age
Expert:  Leon replied 1 year ago.
Is that what you will be earning?
Expert:  Leon replied 1 year ago.
Good Evening.
I'm just following up our discussion earlier this week and seeing whether there is anything else I can assist you with.
If I have missed anything, or you have any further questions please let me know.
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
I look forward to hearing from you.
Regards
Leon
Expert:  Leon replied 1 year ago.
Good Morning,
I'm just following up our discussion earlier this week and seeing whether there is anything else I can assist you with.
If I have missed anything, or you have any further questions please let me know.
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
I look forward to hearing from you.
Regards
Leon