I don't want to have to withdraw any of the SMSF investment with Vanguard, so I instead processed a $500 undeducted contribution from DW into the SMSF bank account. We were intending that DW would make an after-tax $1000 contribution this year anyhow, so that she'd benefit from the government's $1500 co-contribution.
We still haven't received the SMSF tax return for 2007/8 from the administrator. On the one hand I'd like to get the return soon, so I can check it for any errors in the allocation of contributions between DW and myself, investment income etc., and to be reassured that we will actually get a decent service from eSuperFund for our annual fee. On the other hand, soon after the SMSF tax return is lodged we will have to may the 15% contribution tax on last year's contributions plus tax on investment returns, and I was planning on keeping the Sep-Dec contributions sitting in the SMSF bank account to cover the tax liability.
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