Question 1: My wife and I are about to retire. We have two basic investment properties that we are looking at selling post-retirement in separate tax years to the year we retire. We would like to split the sale of one property and place it into super (accumulation accounts that we are keeping open). How much each are we able to put into our super and what are the tax implications even though we will be retired? Thanks
A popular strategy is to sell assets that have made large gains after you retire as you generally have little other taxable income. This is because the net capital gain is added to any other taxable income, so if you have low (or nil) other taxable income, you pay a lower rate of tax on your capital gain.
