Weighing up property capital gains tax strategy


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Another option is to wait until your husband has a zero taxable income and make the transaction then.


Even if he could not make contributions to super, the total tax on the capital gain of $100,000 after discount would be about $25,000. The issue to consider here is whether the asset will gain significantly in value in that time.


I am 71 and my spouse is 64 and we are both in pension-phase super. We have built up some money outside of super and stand to lose our franking credits on those investments. My super balance is lower than hers. My taxable income from investments is less than $40,000. Could my wife make annual spouse contributions for me to my super fund and, if so, how much? Will the tax offset apply? We would be looking to make an annual spouse contribution of at least $100,000, perhaps $200,0000, bearing in mind the contribution caps.


Your wife cannot make a spouse contribution for you but, even if she could, the maximum would be $3000.


As she is under 65, she could make a non-concessional contribution of $100,000 for herself, or by using the bring forward rules, make a bigger one.


Article source: https://www.watoday.com.au/national/act/tenders-wanted-for-west-basin-planning-and-design-20190315-p514io.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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