Difference Between Lump Sum and Pension

Pension v Lump Sums

The Option of Pension or Lump Sum Withdrawals All amounts that you withdraw, no matter if it is pension or lump sum in form, would never be charged any taxes on the condition that you are in the age range of above 60. If you are in the age range of 55 to 59, there … Continued

Difference Between Lump Sum and Pension

Non Concessional Contributions for People Aged Under 65

Non-Concessional Contributions Non concessional contributions are those personal contributions that are deposited into your SMSF’s bank account which have been taken from your after tax income; i.e. you are not claiming a tax deduction for them. Rather than coming from your employer, these contributions are coming from your own personal bank account. Eligibility Anyone under … Continued