Posted in Retirement
on 26 October 2021
Your SMSF - Wind it up or pass it on?
Now that new legislation allows a maximum of six members in an SMSF, some fund trustees may be wondering if this could be an easy way to ensure a smooth transfer of their super to the next generation.
The simple answer is yes, but before you start adding your children and their spouses to your fund, it’s essential to develop a detailed SMSF succession plan to head off any potential problems.
Why make a SMSF succession plan?
on 11 August 2021
When the coronavirus pandemic hit financial markets in March 2020, almost 40 per cent was wiped off the value of shares in less than a month.i Understandably, many investors hit the panic button and switched to cash or withdrew savings from superannuation.
With the benefit of hindsight, some people may be regretting acting in haste. Although for others, accessing their super under the early release due to COVID measures was a difficult but necessary decision at the time.
As it happened...
on 12 May 2021
Investing in recovery
In his third and possibly last Budget before the next federal election, Treasurer Josh Frydenberg is counting on a new wave of spending to ensure Australia's economic recovery maintains its momentum.
As expected, the focus is on jobs and major new spending on support for aged care, women and first-home buyers with some superannuation sweeteners for good measure.
With the emphasis on spending, balancing the Budget has been put on the back burner until employme...
on 17 March 2021
How Financial Advice can pay good dividends during tough times
In a period of market instability due to COVID and low interest rates, many investors are struggling to know where to invest. For those at or nearing retirement, the struggle is even greater. Cash and term deposits used to be considered a safe haven, but with interest rates at historical lows, more investors are being pushed to consider alternative investments.
It may be tempting to jump on the latest trending in...
on 9 December 2020
Granny flats: Tax tips and traps
The idea of adding a granny flat to your property sounds like a great idea. A property to rent out to generate some welcome extra income, or a home for adult children or mum and dad in their later years.
But there are important tax and personal considerations to consider before taking the plunge and digging up the backyard.
Although the Federal Budget proposed significant reform in this area (which we cover later in this article), important tax questio...