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I am 60, not working and have 110,000 in super. My husband is 61, self employed and earns around $40000 p/a, with only 100,000 in super. We own our home, as well as an investment property. When we sell, we would make around 300,000 capital gain.
Can we both put some of this in super and get a reduction on the capital gains tax? We know that we would get a 50% reduction in the gain because we have owned it for a number of years. Do we have to pay 15% contribution tax, and can we get a tax deduction if we put it into super?
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Can you please add some more detail missing from your model portfolios. Eg buy to position, do you advise sell points and stop loss settings?
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Thank you very much for your thorough analysis of the budget impacts on super. I am hoping that you maybe able to answer my question below.
I’m retired (genuinely not working) and currently 63 years young. I have all my super in pension phase and below the proposed $1.6m cap. I have maxed out on my NCC by being in excess of the $500,000 over the period from 1/7/2007 through to Budget night 2016. Is there anyway I can make concessional contributions to take advantage of the $35,000 per year between now and July next year?
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Paul, I want to buy an ETF listed on the NYSE. It is DBA. I was wondering if there could be an ASX listed ETF holding roughly the same basket of commodities: corn, coffee… and if you would recommend it. Also, could you please give me the code for the best gold ETF, in your opinion, trading on the ASX? Thank you.
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I am 62 and over the $1.6mil cap. I also receive a Defence pension of $32,000 under DFRDB. This pension is paid as income and taxable. Will this affect my cap?
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My wife and I are 35 years old and have a combined super balance approx. $300k. Between us, we make $42k per annum concessional contribution. We do not make non-concessional contribution. Our accountant has recommended that we consider setting up a SMSF account. His recommendation was to top-up the SMSF fund by making non-concessional contribution of $200k by selling one of our investment properties; and borrow in Super to buy a commercial property. While we’re not sure of contributing $200k to Super, we like the idea of starting an SMSF.
Is it too early (age wise) to consider SMSF at 35 with a balance of $300k? What are some of the investment strategies should we consider?
We’ll appreciate your advice.
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