Q: I was intrigued by your recent article in The Australian Financial Review regarding a couple with $5 million in superannuation wishing to make further contributions to super. The answer seems to suggest that if you are 65 and over (I am 73) there are ways to “start a new pension” and that ultimately it can accommodate $1.9 million. I migrated to Australia in my late 40s and eventually started my own business, which, inevitably did not pay me any income for several years. I now have only about $189,000 in my super. I plan to sell my business and retire, and should have about $5 million from the sale of the business, which is in both my name and my partner’s name. Can I really get my super up to the $1.9 million mark once I have this capital available? We’ve had this business for 24 years. Steve.

A: Aside from tax concessions for working Australians to encourage them to make regular contributions to superannuation, there are also special tax concessions for small businesspeople like yourself. They recognise your business will be the main financial asset that funds your retirement.