Replying to Avatar Andy The Bitcoin Adviser

So I think I got some clarity today on this. To take funds out of accumulation phase I.e. your super account they have to be moved into your pension account, you can’t just take a lump sum out of accumulation to a bank account.

Therefore anything over your transfer balance cap if withdrawn from your pension account as a lump sum will be subject to 15% tax and then prob 30% when it’s over $3m if that passes.

This doesn’t mean you can’t leave a large balance in the pension account or your super account. Does that make sense?
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Andy The Bitcoin Adviser 2y ago

Given bitcoin isn’t yield generating it messes with the intent of all this a bit but no doubt things will change over time.

The important thing here is to ensure there are inheritance protocols in place to ensure the bitcoin passes cleanly to your dependants without incurring tax.

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David Pinkerton 2y ago

I get it. 😄