Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mark is 65. What can he do if he has triggered the three-year non-concessional contribution cap? He can use the residual of the three year
Mark is 65. What can he do if he has triggered the three-year non-concessional contribution cap?
He can use the residual of the three year cap, but the work test must be satisfied
No further contributions can be made.
He can contribute another $300,000 without penalty tax.
He can use the residual of the three year cap without satisfying the work test
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started