A SG contribution by an employer to their employees' super fund account isA.not counted towards the concessional cap.B. subject to a favourable tax rate obtained without any further requirement.C.taken from salary before tax D.tax free.1 points   QUESTION 12Pension age is the age people can A.access their superannuation.B.access their term deposits.C.access the government pension.D.be retired.1 points   QUESTION 13The non-concessional contributions are taxed at ___________________ and their returns are taxed at _______________________.A.15%; 15%B.15%; member's marginal tax rateC.member's marginal tax rate; member's marginal tax rateD.member's marginal tax rate; 15%1 points   QUESTION 14Simple interest rate implies that A.past interest is included in the calculation of the new interest.B.interest is calculated with respect to the initial investmentC.interest rate is variable.D.interest is calculated on an amount that takes into account the previous interest

An employee's  salary sacrificing contribution to his/her super fund account isA.non concessional.B.voluntary contribution.C.on top of his/her salary.D.tax free.

The Super Guarantee paid by an employer to their employee's super fund account isA.tax free.B.part of concessional contributionsC.taken from salary before tax.D.a part of the gross salary of the employee

Which of the following statements about making contributions into super are TRUE:Salary sacrifice contribution are when you ask your employer to pay part of your salary or wage into superannuation instead of paying it to you directly. They are normally subject to a 15% contributions tax and are eligible for the government co-contribution.An individual is aged 50 and they would like to sell an investment property and place some of the proceeds into super. Their super account balance is currently $1 million. They have not made any non-concessional contributions before. The maximum amount that they could contribute this year into super as a non-concessional contribution is $110,000.Question 6AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)

Interest and dividends on super fund's investments areA.regularly paid out to the employees' bank transactional account.B.paid to the employers.C.are reinvested in the account following the account owner's declared investment strategy.D.taxed at 15% if the income was generated on investments bought with concessional contributions.

Jane is 50 years old and has just sold an investment property. She would like to contribute some of the proceeds from the sale into her superannuation as an after-tax non-concessional contribution. Her superannuation account balance is currently $800,000 and she hasn’t made any after-tax non-concessional superannuation contributions in the last 5 years. What is the maximum amount of after-tax non-concessional contributions that can be made into superannuation this year from the sale of her investment property (assuming she will NOT bring forward caps from future years)?