Dear %%first_name%%,
Just when we thought Europe has its act together, the Greek tragedy re-emerges. But will interest rate cuts here at home be enough to buoy our market and protect it from global panic?
“Markets can stay irrational for longer than an investor may stay solvent,” JP Goldman highlights today, citing the famous quote attributed to John Maynard Keynes. And it’s therefore critical that your SMSF portfolio is designed to take the hit. But a great sell-off also open up great opportunities, and with Australian banks announcing their final dividends, Charlie Aitken has some buy recommendations that will take advantage of the current investment climate.
Also in today’s Switzer Super Report, we take a look at the legal consequences of borrowing money from your SMSF, as well as how to go about bringing overseas retirement savings home to Australia without overpaying tax. I trust this information will be useful to you.
Sincerely,
Peter Switzer
The Government has introduced Superannuation Guarantee Amendment Bill to parliament, which, if passed, will raise the rate of compulsory employer-paid super to 12% from 9%.
The Government has also scrapped the age limit on receiving Super Guarantee contributions, which means that as of mid-next year, those over the age of 75 and working will be able to receive employer contributions. For more, read Government scraps the age limit on Super Guarantee.