You don't have credit card details available. You will be redirected to update payment method page. Click OK to continue.
You need to be a full subscriber to access this feature of the Switzer Super Report. Click here to upgrade your subscription or read recently answered questions below
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.
Take a free trial or log in to read answer
Peter, many thanks for your summary on budget effects upon super.
If in one of your points a self funded retired pensioner has say $2.0M in their super and decides to take a lump sum of $400k to get down to the cap, can they not earn out of super up to $18k on the $400k before any tax is payable, but if it goes into an accumulation fund tax is owed at 15% on any yield earnt on the $400k?
Take a free trial or log in to read answer
We have a Freehold Commercial property in our SMSF, and it provides $60k of Tax free Income PA. The property is worth 1-1.3 M. We also hold further cash and some shares in the SMSF, which is in pension phase.
If we only have a single Corporate trustee, does this mean that we are exceeding the new proposed 1.6M limit, per person, and will have to reduce our holdings?
Take a free trial or log in to read answer
Why has Switzer remained silent on the changes to super announced in the budget yesterday?
I’m looking for information on these changes and how it will affect the decision for the people doing transition to retirement pension. What is meant by stopping lump sum payments in TTR pensions? Also how will the super funds be broken up for those who have greater than $1,6m? Can the assets be switched between funds?
Take a free trial or log in to read answer
How do you rate the child care operator GEM for a superannuate portfolio? I am looking for growth and income and can tolerate moderate risk.
Take a free trial or log in to read answer
When you are providing the latest and best Term Deposit rates, please note that the figures you give do not relate to money invested in a Super Fund Account. All deposits rates for Super funds are considerably less than deposits made in an individual names.
I have spent a large amount of time chasing this, with the major banks and the answer is always the same… Super funds are considered to be companies, and thus the rates offered will be less. With the recent cut to 1.75% in interest rates, you will be lucky to get 2.25 % on your money…. not good.
Take a free trial or log in to read answer
