You don't have credit card details available. You will be redirected to update payment method page. Click OK to continue.
My wife and I have a SMSF and draw down on our allocated funds and part pension. The question is on 2017 – we will lose our part pension due to the change by the government reducing it to $823K from over a million.
Is there a way I can utilise around $100K to maintain the part-pension legally that makes it not be counted as much? e.g. bonds, overseas bank accounts?
A: Thanks for the question.
Theoretically, no – because most assets are counted in the assets test, including foreign assets.
You could do the following:
a) spend the money (travel etc);
b) improve your home – new kitchen, garage, swimming pool, disabled ramp etc. The reason you can do this is because the family home is an excluded asset; and/or
c) purchase 2 funeral bonds up to the allowable limit; and/or
d) gift up to $10,000.
