Seeking ADVICE only… no liability held
Weve recently set up our SMSF (Bare Trust and Deed), with my significant other to purchase an IP.
We still have our industry funds for our insurance purposes.
I want to potentiate the situation - If i contribute $150.00 per fortnight to our SMSF ( 4K), employer contributions are about 10K per year. I want to put 10K post tax dollars into make it just slightly less than 25K. Also, Im of the impression because I made extra contributions, the government will contribute $500.00
Could I claim a notice of intent to claim ATO (NAT 71121) from my SMSF, as well as part of the money went into the industry superfund?
Pretty sure if you contribute over $1000 even if only paid in for insurance purposes, you do qualify for the 50%/$500 max. Govt contribution - use to be 100% in the golden days of entitlement)
Whether the contributions grows (or diminishes) it was still a self after tax contribution.
Yeah, but only 1 claim - no multiple dipping as it'll be max. $500 per tax return per annum.