Janet, Paul, William, Tran, Chen and Hugui propose to become members of Prosperous SMSF. They each are
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Question:
Janet, Paul, William, Tran, Chen and Hugui propose to become members of Prosperous SMSF. They each are employed and have the following salaries (not including super guarantee)
| Salary (no SG) | |
| Janet | $82,300.00 |
| Paul | $87,500.00 |
| William | $110,750.00 |
| Tran | $145,863.00 |
| Chen | $201,400.00 |
| Hugui | $191,236.00 |
Assume the SG rate is 11% and the max concessional is $27,500 for the 2023-2024 year. No more than 6 members in SMSFs.
What is the maximum amount each member could contribute in Concessional contributions this year (assuming no available concessional rollovers)?
| Name | Concessional amount |
| Janet | |
| Paul | |
| William | |
| Tran | |
| Chen | |
| Hugui |
Paul contributed $20,000 in concessional contributions this year. Please comment?
Hugui wants his friend, Bob, to become a member of the Prosperous SMSF. All members are keen to welcome Bob. Please comment?
Advise the members on the advantages and disadvantages of appointing a corporate trustee?
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What is the maximum amount each member could contribute in Concessional contributions this year assuming no available concessional rollovers To calcul... View the full answer
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