PORTFOLIO POINT: For very good reason, there’s a new mandatory requirement for SMSFs from July 1. In the enthusiastic rush to start your own self-managed super fund, there are countless mistakes that can be made. Thankfully, most of them aren’t disastrous. More of an annoyance. Messing up ABN and TFN documents, choosing the wrong type […]
It’s June, so it’s grand final time in the financial advice industry, as well as so many others But amongst all the professional thunderbolts and lightning that are spraying around your workplace, you simply have to take time for yourself, even if its done on nights or weekends. You have to make sure that you’re […]
PORTFOLIO POINT: The market’s recent slump is perfectly timed for those looking to make curtain-call in-specie transfers to their SMSFs. If you’re a trustee and enjoying life at the moment, you must have been sitting in cash. It’s been a nightmare five or six weeks. Few SMSFs that are loaded up with Australian shares are […]
It’s hard to get your super to soar like an eagle when it’s regulated by a bunch of turkeys. And whether the gobblers pulling the strings in Canberra are politicians or public servants matters little. Super will be a lot less so from next month. Forget the recent market gyrations and their impact on your […]
Not all debt is the devil. There are actually three kinds of debt: “dumb”; “okay”; and “great” debt. To categorise them, you need to ask two questions. One: Will the purchase increase in value? Two: Is the interest tax deductible? Dumb debt answers “no” to both. These assets fall in value and the interest is […]
PORTFOLIO POINT: Maximising income streams in retirement can involve financial magic, particularly where Centrelink is concerned Super pension income is tax-effective income. We all know that. It’s just a case of whether it’s tax-free, or tax-advantaged. If you’re over age 60, the income comes to you tax-free. If you’re under age 60, then a super […]
Bunkum, bollocks and bulltish. But let me explain. That proposition was made forcefully recently by former Treasury head Ken Henry. Uncle Ken’s comments were aimed at default “balanced” super funds, which traditionally have 55-70 per cent of their investments in “growth” assets – shares and property. His concerns have merit for Retirees and Boomers, whose […]
You’d be daft not to stack up on your favourite wine when the local grog shop had a special on, wouldn’t you? And who hasn’t purchased half-price duty-free booze, simply because they were passing through customs? If you’re sitting in Bali with some fellow bogans, it’s even harder to say no. Heck, what’s $2.80 for […]
PORTFOLIO POINT: Post-Budget super strategies to combat the latest attack on your retirement nest-egg. I was seething. As should you have been. Sure, I was sitting on a holiday in Bali, having to read the Federal Budget by mobile phone via a sometimes dodgy WiFi connection, but it didn’t temper the anger. A friend sitting […]
A wise man (Daniel be his name) once told me: “accountants organise what’s already happened. Financial advisers organise the future.” And that, dear readers, is today’s exercise. Six weeks till June 30? Plenty of time. Last year, the editor gave us four days! Okay, there’s the short-term “purchasing” advice. Some are able to claim items […]
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