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NCC clarification?
I realise that the super changes announced on budget night still require legislation to be passed but would interested in getting clarification on the NCC lifetime cap rules.
If you had more that $500k in NCC prior to the budget announcement is the excess amount over the $500k required to come out of your NCC account balance? It is very confusing. It appears for those that have excess to the $500k NCC prior to budget night are able to keep their excess NCC balance and it is not trimmed back to $500k but they are deemed to have met their lifetime limit and not required to remove any excess NCC amount, could you please clarify?
My wife has $550k and I $450k as at budget night. Our accountant is saying my wife will need to reduce and remove 50K from her account and I can increase mine to $500k
Wife is 58 and I am 60.
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Whats your recommendation on WAM shares and its other WAM related shares.
Thanks.
Pamela
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I had some medicare and NIB shares bought cheaply and sold when the prices were higher, taking a profit. I intended to buy them back when they fell. They have now fallen, but I feel the money would be better spent on some of your recently recommended shares like CYBG and PPC and SXE and AWC. What do you recommend?
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On July 1 next year I will be 60 and wife 61 – we currently have a TRIS/TTR and neither of us are retired – if I retired before that time and wife didn’t, how is our TRIS/TTR treated? Is my balance/earnings then tax free and hers subject to the proposed 15% tax? We currently have a 75%/25% split so would only 25% be subject to taxation, both earnings and CGT? Thank you!
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Whats your recommendation on WAM shares and other WAM related shares?
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We’re both over 1.6 million cap & we ‘re considering to transfer a unit to ourselves before 1 July 2017, with the purpose of using it as our principal place of residence.
We’re on TTR phase but would retire to access our super in a lump sum payment in specie. Is there a stamp duty discount in NSW when real estate is transferred to members on retirement?
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