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My wife and I have a SMSF in pension phase and I am not clear of the proposed new rules for super in pension phase. The balance of the fund in around the $1.6 limit. I am 74 and my wife 70. I am fully retired and my wife works one day a week.
My questions are:
1. What happens if the account balance is above $1.6m at the end of any financial year?
2. Is the fund allowed to earn a limited amount before being taxed?
3. Is it better to withdraw any amount above the $1.6m for simplicity?
4. As there are two members in our SMSF are we allowed $1.6m each to make our limit $3.2m?
Many thanks for letting me ask these questions.
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Hi Peter, I wonder if you have any research on G8? I have looked at what Morningstar has to say on them, and they look pretty sound, but we got badly burnt on ABC hence the jitters. After all, surely childcare is a pretty strong market? Appreciate your feedback.
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If you are a non-resident for tax purposes and live overseas, can you still keep your superannuation which is in full pension phrase currently?
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You stated that TLS would move to $6.00 and show good return. At the present time TLS is heading south very quickly and I would ask the question what do you think will happen.
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We have The Reject Shop in our SMSF, we were happy with it up until about 18 months ago.
We’re not good at selling and taking a capital loss, we tend to hold on hoping it improves or tell ourselves it can’t fall much more – anyway, we’re now down 56%. There seems to be a few on-going issues with The Reject Shop too.
Is there a rule about selling and protecting capital – should we sell when a stock is down say 25% and it’s immediate prospects don’t look good?
So often a stock recovers after a big fall, sometimes in the same week. Can’t see that happening with the Reject Shop, it only seems to be going in one direction…down!
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How long do you have to hold a stock after dividend is paid and from which date does it apply? Many thanks.
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