Tax with Max: Asset resetting and CGT relief

The new reset rules, investing buckets, and NCC levels.

Key take-out: The only time assets that are worth more than the excess over $1.6 million limit can be transferred back to an accumulation account is when they are lumpy assets.

Question: We have a self-managed super fund with one member who is 69 and recently retired with a balance of $1.95 million spread over four tax-free pensions, and one an accumulation account with about $190,000. The second member is 58, not working, has a nil balance but used up the full $540,000 bring forward rule just before the June 30 this year, and will roll over another $300,000 from another super fund when they turn 60.

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