Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following statements about making contributions into super are TRUE: 1. Salary sacrifice contribution are when you ask your employer to pay part

image text in transcribed

Which of the following statements about making contributions into super are TRUE: 1. Salary sacrifice contribution are when you ask your employer to pay part of your salary or wage into superannuation instead of paying it to you directly. They are normally subject to a 15% contributions tax and are eligible for the government co-contribution. 2. An individual is aged 50 and they would like to sell an investment property and place some of the proceeds into super. Their super account balance is currently $1 million. They have not made any non-concessional contributions before. The maximum amount that they could contribute this year into super as a non-concessional contribution is $110,000. Neither of the statements are true (both are false) Only statement 1 is true Only statement 2 is true Both statements are true (neither are false)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Business Credit Handbook

Authors: Mr. Reid A. Nunn

1st Edition

1500542725, 978-1500542726

More Books

Students also viewed these Finance questions

Question

Describe Balor method and give the chemical reaction.

Answered: 1 week ago

Question

How to prepare washing soda from common salt?

Answered: 1 week ago

Question

Explain strong and weak atoms with examples.

Answered: 1 week ago

Question

Comment should this MNE have a global LGBT policy? Why/ why not?

Answered: 1 week ago