PERSONAL FINANCE
Newcastle Herald
Thursday March 24, 2011
Q Are there any restrictions on who can access the benefits of superannuation co-contributions? Can I create a superannuation account for my daughter, who is too young to work, and make contributions into her account so she can get the co-contribution? If feasible, how would I go about it?A A person who is not working is not eligible to claim the co-contribution.It may be better to wait until she gets a job - the income from that job does not have to be high.Q A recent article of yours alluded to not paying CGT on a primary residence after renting it out, reoccupying, and renting it out again. Do you have a rule of thumb for the period of time required to reoccupy before re-renting?A A person is allowed to be absent from their residence for up to six years and retain the CGT exemption as long as they do not claim any other property as their principal residence during that time.They can move back in again, re-establish their main residence and move out for it to be covered for another six years by the exemption. This can happen as many times as they wish. To re-establish your main residence, you, your family and your personal effects should actually live there - you should change your address on the electoral roll etc. The law does not specify a period of time.Send your questions tonoel.whittaker@whittakermacnaught.com.au
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