SUMMARY: Recontribution strategy users the real victims of retrospective $500k non-concessional contribution limit. The final hard sell on the government’s proposed superannuation overhaul started on Monday in Canberra. Politicians started returning to Canberra, and Prime Minister Malcolm Turnbull and Treasurer Scott Morrison were continuing to sell the message that they don’t believe changes to the […]
SUMMARY: Canberra’s super pressure cooker is leaking – and agreement to lift the NCC limit could seal the deal. Treasurer Scott Morrison is on a mini-roadshow, selling his proposed superannuation changes. The odd thing is who he’s having to go the hard-sell to. Not the public, not the media, but his own government colleagues. […]
Is it possible to hold too much cash? If that sounds crazy, like a trick question, that’s because it is. And, therefore, the answer is the opposite of what you would believe it to be. Yes, it is possible to hold too much cash. Sure, we all love the folding stuff. The more you have […]
SUMMARY: The unanswered questions! Here are my responses to the questions we didn’t get to in the inaugural Adviser Q&A. Thanks very much for the great response to the inaugural Adviser Q&A held last Thursday. It was wonderful to see so many questions come in. We couldn’t get through everything during our first Adviser Q&A […]
SUMMARY: The superannuation changes can’t sit on the political backburner. Decisions, or deals, need to be done now. I’m thinking of buying Treasurer Scott Morrison a new t-shirt. It would read: “Superannuation chaos, panic, disorder: My work here is done.” Superannuation is in disarray. People don’t know what rules to follow. Planning is impossible. […]
SUMMARY: Here’s the detail on the pain of the new transition to retirement pension tax. There’s no one killer punch in the Coalition’s super shakeup – it’s a combination of blows that could bring many great strategies to the canvass. The reductions of concessional contributions to $25,000 and non-concessional contributions to $500,000, added to the […]
SUMMARY: How did you fare as a SMSF investment manager in FY16? To prove your worth, the number you needed to beat … was 5.05%. A positive return in your self-managed super fund was probably just a dream for most of the last financial year. Australian shares got crunched in July, then pounded in January […]
Everyone loves a bargain. Something cheaper than it was a little while ago, or a bonus thrown into the purchase. End of year stocktake sales, flights outside of holiday peaks, end-of-line specials on cars, supermarket meat on a Sunday afternoon, shoe and suit sales … Me? Easy. Happy hours. Stamp in passport, basic beach bar, […]
SUMMARY: Hold off on non-concessional contributions for now. The “agreed” changes are far from a done deal. The dust hasn’t settled. And the horse-trading certainly has only just begun. In the meantime, for most, I wouldn’t be recommending anyone make any unnecessary non-concessional contributions to super. Certainly without thoroughly checking your tax records, or the […]
Don’t know about you, but I’ve got flashbacks to the 70s. Specifically, of Bruce Banner: “Don’t make me angry. You wouldn’t like me when I’m angry.” The Incredible Hulk is the ultimate in “pissed off”. From gentle scientist to brute-force killing machine in seconds. Potentially, just because the wheel nut slipped when changing the tyre […]
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