Hi SMSFAAA team,
I just have a technical query.
A member (79 years old) with pension and accumulation accounts transferred $600,000 from his accumulation account to his personal account.
The other members (kids, 35 years old respectively) contributed $300,000 each at the same period using the NCC bring forward arrangements.
Can you please just confirm me that it is correct to do that and that it doesn't breach any rules (SISA related or not)?
Thank you in advance.
Hi Jean
There are no issues that I can think of re your transactions.
A member who has met a condition of release has taken a benefit payment and 2 members have made a non concessional contribution and I assume they meet the cap rules requirements.
Thanks
The Auditors Institute