Janet, Paul, William, Tran, Chen and Hugui propose to become members of Prosperous SMSF. They each are employed and have
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)|
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)?
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?