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Retirement age self-employeds query re SMSF

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cuckoo34 View Drop Down

Joined: 24/August/2017
Location: Australia
Posts: 1
  Quote cuckoo34 Quote  Post ReplyReply Direct Link To This Post Topic: Retirement age self-employeds query re SMSF
    Posted: 24/August/2017 at 13:45
My husband and I are self-employed, he is 73 and I am 66 and we plan to continue working for about 4 years. We have around $120,000 in our SMSF. Can we withdraw $25,000 to repay business debt - or is withdrawal only permitted when fully retired?

Thank you for any help.

citizen-joe View Drop Down
Senior Member
Senior Member

Joined: 09/October/2005
Location: Australia
Posts: 754
  Quote citizen-joe Quote  Post ReplyReply Direct Link To This Post Posted: 25/August/2017 at 00:49
Unrestricted non-preserved benefits may be cashed at any time.

See details.

Moliniamo View Drop Down

Joined: 04/September/2017
Location: Australia
Posts: 1
  Quote Moliniamo Quote  Post ReplyReply Direct Link To This Post Posted: 04/September/2017 at 08:29
I agree with citizen-joe. I'm also self-employed and about 2years ago i began to play in online poker, i fond of it since my young age, but i've never played seriously before. After advise of my friend i decided to turn my hobby into my business, and there i found a lot of advantages! This activity is better than standart boring job indeed! At first I tried many different online poker sites, but was down in $ and €, because i wasn't skilled enough. But i was patient and at the same time really heated player, I decided to search additional info, continue to practice and achieve my goals to get profit. Recently I joined , played freerolls and got bonuses! That was so easy! So, by now I’ve made a great deposit and I’m going to continue for some period and then cash out. So, all depends on us, just follow your ideas for making money and be patient. Good luck!

Edited by Moliniamo - 04/September/2017 at 08:32

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