Nasher Posted April 15, 2020 Share Posted April 15, 2020 I will be moving my UK pension to Australia in June. I have an estimation that after accounting for the assessable growth, I have $150,000 that would be considered as non-contributional contribution. I am a sole trader. Can I claim $25,000 out of this contribution for tax deduction? Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted April 16, 2020 Share Posted April 16, 2020 23 hours ago, Nasher said: I will be moving my UK pension to Australia in June. I have an estimation that after accounting for the assessable growth, I have $150,000 that would be considered as non-contributional contribution. I am a sole trader. Can I claim $25,000 out of this contribution for tax deduction? I think you should be talking to a tax professional about the AFEs attaching to the sum transferred - and the tax question you have asked. Best regards. Quote Link to comment Share on other sites More sharing options...
Ken Posted April 16, 2020 Share Posted April 16, 2020 10 hours ago, Alan Collett said: I think you should be talking to a tax professional about the AFEs attaching to the sum transferred - and the tax question you have asked. Best regards. AFEs = Acronyms For Ever! 1 Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted April 17, 2020 Share Posted April 17, 2020 On 15/04/2020 at 12:00, Nasher said: I will be moving my UK pension to Australia in June. I have an estimation that after accounting for the assessable growth, I have $150,000 that would be considered as non-contributional contribution. I am a sole trader. Can I claim $25,000 out of this contribution for tax deduction? Hi Nasher This should help: https://www.ato.gov.au/Individuals/Super/In-detail/Growing-your-super/Claiming-deductions-for-personal-super-contributions/?anchor=Whatyoucantclaim#Whatyoucantclaim Andy Quote Link to comment Share on other sites More sharing options...
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