Ask Noel

I am 61 and my father passed away recently, leaving his house to my brother and me. I wish to stay in the house and pay my brother his half share. Most of my money is in a super fund, with a small amount in a managed fund. Can I withdraw money from my super fund to pay my brother? If not, is there another alternative?

There should be no problem withdrawing the money if you are not working. If you are working, you will need to trigger a condition of release which means resigning from a job – it need not be your main job. If this is not possible, you could possibly obtain access to some funds by using a transition-to-retirement pension. Your adviser will be able to guide you.

My husband works overseas as an underground miner because if he worked in Australia, he would be in the highest tax bracket of 45 per cent, as he earns more than $180,000. If he was to return to work in Australia, can we avoid paying that much tax by salary sacrificing to our super, or is there an alternative?

Deductible contributions to super are now limited to $25,000 a year from all sources, but they still afford a substantial tax saving for high-income earners. You could also borrow for income-producing assets such as property and shares, but the income from these tends to negate the tax deductions that come from the interest. Just remember that the tax benefits are the cream on the cake.

Noel Whittaker is the author of Making Money Made Simple and numerous other books on personal finance. His advice is general in nature. Readers should seek their own professional advice before making decisions. Email: [email protected]苏州美甲培训学校.

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