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Recent Questions & Answers

Westpac Capitol Notes 4

Paul Rickard

Just wondering what your thoughts are on the new Westpac Capitol Notes 4 are?

I look forward to your daily and weekly reports. Keep up the good work.


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What qualifies as a “new property”?

Paul Rickard

I’d like to know with the possibility of an ALP government what exactly is “new property” under their negative gearing proposals?

In Sydney you’d be lucky in the extreme to find a new property already completed as almost everything new is sold off the plan.

So this means investors are likely to be restricted to off the plan purchases and then need to tie up a 10% deposit for 18 months to 2 years before its even built. Who knows what the property market is going to be like in 2 years time or even what changes to borrowing rules that might apply.

Is there any detail as to what qualifies as a “new property”?


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Splitting my concessional contribution

Tony Negline

I want to run this by you before consulting my accountant and I’m considering several options in light of the likely Super changes. I would like to even out the balances in our SMSF. One option is to consider splitting my concessional contribution with my husband. I read I can contribute up to 85%. He is 60, working full time and already contributing the maximum $35000. If I allocate mine to him it would be in excess of his contribution cap. Does this prelude this option?

For example, can I contribute my maximum concessional cap of 85% of $35000 to his account, or is it just my employer contributions or is it not allowed at all if he has already reached his concessional cap?


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Can a SMSF be wound up?

Paul Rickard

I am at retirement age now 65 years. I have my own SMSF with a single property valued at $670,000 in Byron Bay in the fund. My wife is the other beneficiary. The property gives me approx a 4.5% return p.a. I am not yet in pension mode but doing TTR.
Surely there must come a time with an SMSF where the associated costs of running the fund defeats the purpose of supplying an amount for retirement?

Can a SMSF be wound up to avoid all the extra costs?


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