Ferrets

hi, I don’t like posting on an open forum about my financial situation, 
 

Does the $330k represent a hard ceiling for the value, or can it be repeated, i.e. $330k transferred in year 1 (using the bring forward), $150k transferred in year 4?
 

For info, you can transfer as much as you like if you breach $330,000 NCC the ATO will actually release all money over $330,000 they will charge you a small amount of tax but the rest goes into your bank account, I know from personal experience as I did just that. 

I set up a QROPS and transferred my crystallised section of my pension nearly 3 years ago just under £1M  , paid $45k tax to the ATO, will transfer the remaking this year, for info now the HMRC have dropped LTA you can transfer everything in one go however they are trying to charge a foreign transfer charge of 25% over £1.07 to protected IP values if you have. Depends on if that gets through parliament.

I also found that the only QROPS commercially available will charge you an ongoing fee as it’s a QROPS transfer of about 6-7% if I remembercorrectly and they will not tell you unless you ask about the excess NCC you CAN make.

Cheers

Nick