Can we reduce CGT by placing profit into super?
Q.
My wife and I recently sold an investment unit we originally
bought nine years ago. We made a capital gain of $140,000. Can we
reduce the CGT by paying $70,000 into my wife's super? My wife,
aged 54, works part time as the Director of a small company we
operate from home. She sacrifices her salary of $15,600. I am
retired and have no super.
A.
Your accountant is the appropriate person to guide you, but it
may be possible for her to reduce CGT by making a deductible
contribution to super if she qualifies under the 10% rule. Just
bear in mind that such contributions incur an entry tax of 15%.
Each week financial advisor Noel Whittaker answers your
questions.
