So what are clients doing with assets in excess of the $1.6 million ceiling on the amount of money that can be held in a tax-free private pension? “For those over the $1.6 million, a problem most would like to have, where allowable, it is preferable to transfer the excess, or some of it, to a spouse’s super account if the spouse is under the $1.6 million cap, as this enables the excess funds to remain in the tax-free pension environment,” says Suzanne Haddan, managing director of BFG Financial Services.
Read the full article on the Australian Financial Review.
