I am hoping someone on this forum might be able to point me in the right direction...
I have two super funds. Fund A is an SMSF which has the majority of my super. Fund B is my employer super which has a very small balance. Fund B has my life and salary continuance insurance in it. My monthly contributions are split such that a larger amount goes to Fund A for investment and a smaller amount goes to Fund B to just cover my insurance premiums.
I recently received a D293 tax assessment for Fund B. I know I can ask Fund B to pay the tax for me, but the balance in Fund B is very minimal (to just cover the insurance) and I would not want it to drop further. Is it possible for Fund A to pay the tax even though it is in relation to the contributions to Fund B?
If I can pay the tax from Fund A, is there any special paperwork I need to do or prepare?
I have two super funds. Fund A is an SMSF which has the majority of my super. Fund B is my employer super which has a very small balance. Fund B has my life and salary continuance insurance in it. My monthly contributions are split such that a larger amount goes to Fund A for investment and a smaller amount goes to Fund B to just cover my insurance premiums.
I recently received a D293 tax assessment for Fund B. I know I can ask Fund B to pay the tax for me, but the balance in Fund B is very minimal (to just cover the insurance) and I would not want it to drop further. Is it possible for Fund A to pay the tax even though it is in relation to the contributions to Fund B?
If I can pay the tax from Fund A, is there any special paperwork I need to do or prepare?