EOFY strategies, tips and traps

Primary tabs

Question 1 of 5

Elisa (age 66) retired two years ago and has been living on investment earnings since then. Her assessable income for the 2020/21 is likely to be around $31,000. Elisa made a non-concessional contribution of $100,000 into superannuation in March 2021. Her total superannuation balance (TSB) on 30 June, 2020, was $800,000. Would Elisa qualify for the co-contribution after lodging her tax return for the 2020/21 income year?

Yes - her assessable income is below the income threshold.

No - her assessable income is derived from investment income only.

Yes – she is below age 71.

No – she is over age 65.