Superannuation Discussion + market volatility

[ellen10]

Do you recontrivute to a separate super fund to keep all the newly converted non concessional funds separate from the existing concessional funds?.

Yes they open a new separate fund, to recontribute to.

 

[Pushka]

That's my understanding You can't specify which funds to take out.

If % of concessional in accumulation is 70% then when you withdraw, 70% will be concessional and 30% will be non concessional.

Thanks. So it's based on the current percentage of each super and not a given ATO formula. I knew we couldn't specify from where.

Perhaps it's time to sit down with a qualified and independent advisor?

Yes of course. But I like to know exactly what to ask first. . Saves a lot of to and fro. We have a business accountant who is currently doing our financials.

 

[stm1sydney]

two rounds of $300K

$360k now (or $120k p.a.).