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Find maximum annual tax-deductible superannuation limit

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Reference no: EM133207224

Problem: Denko is a 42 year-old self-employed hairdresser. Her net business annual income is $120,000 and she has no other assessable income or tax deductible amounts.

(a) What is her maximum annual tax-deductible superannuation limit?

(b) Assuming she wants to contribute $37,500 by the end of the ?nancial year. Explain how she could do this and avoid the excess contribution tax?

(c) What would you outline to your client, Denko, if she stated that she would like to make an in-specie superannuation contribution to her SMSF.

Reference no: EM133207224

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