(03) 9020 2905

Welcome to Bruce Brammall Financial

Tag: Estate planning

Making death less taxing for your kids

SUMMARY: Do you want to make it tax-free for the next generation? A recontribution strategy requires some forward planning. We all know and love super as this great income stream that comes to us tax-free eventually, usually after we turn 60 or 65. Well, most of it comes tax-free to nearly all of us. There […]

Joint SMSFs: No such thing as “ours”

SUMMARY: One SMSF – many accounts. Why your SMSF has “yours” and “mine”, but no “ours”. It’s time to bust a myth about SMSFs. Perhaps it’s more misunderstanding or misconception than myth. But it’s certainly time to crush it. Your SMSF, if there are two members, has at least two accounts. There is “yours”. And […]

A tax take on pension fund investing

PORTFOLIO POINT: If you no longer had to pay tax, would it change the way you invested? Taxation distorts decision making when it comes to investments. Taxation distorts a lot of things, including my face when I see my quarterly BAS/IAS. Tax law can channel investment down one path or another. It can promote or […]

Prepare to die. It will save your loved ones $100,000

Always look on the bright side of death / Just before you draw your terminal breath The “Don’t Worry, Be Happy”, whistle-your-blues-away, approach to your impending demise might be a little hard to put into practice. While Monty Python’s “Life of Brian” got us laughing about it, death itself is one of life’s imponderables. Hey, […]

A super change to avoid death and taxes

PORTFOLIO POINT: A death-tax removed! A major tax win for super pensions was a pleasant surprise in the recent mini-budget. How often would a government tell the Tax Office to back off on legitimate revenue raising? In terms of animal species, it would certainly be classed as “rare”. It would probably be considered “endangered” if […]

It’s hard work building up assets, so what are some good ways to protect yours from relationship breakdowns or business failures?

How pointless would a new business/relationship be if those starting the baby up weren’t wearing rose-coloured glasses? Doomed. As much chance of survival as the first slab of beer on a boys’ weekend. However, pure optimism won’t save everything. And given most ventures, personal and business, fall over, Gen Xers need to be realistic about […]

As blended families become more common, how do you structure wills and super to be fair to everyone?

Ah, the Brady Bunch. Would you want that conniving little so-and-so Marcia to get an equal portion? She was a piece of work, that Marcia. Never liked her. Usually up to no good. If she was my half-sister, I’d … I’d … And, bingo, there’s the problem. Death only makes things worse. There’s nothing like […]

A good DIY deed

PORTFOLIO POINT: Four things you need to check to make sure more of your super keeps on breathing after you stop. The prime driver for people getting into self-managed super funds is control. In rough order, of the types of control that SMSF trustees want to exert, it’s usually control over investments, control over tax […]

A dozen do’s and dont’s for SMSFs

PORTFOLIO POINT: The temperature is rising in SMSF-land. Time to apply some protection. Here’s 12 do’s and don’ts to get you prepared for 2012. It’s looking like another daunting year for investors. If you’re shaking in your boots at the prospect for returns, you won’t be alone. Europe’s sovereign debt woes are here for a […]

Two pensions better

PORTFOLIO POINT: Why take two pensions instead of one? Because the estate planning ramifications are potentially worth tens of thousands of dollars. Here’s why. It can often make sense to start a pension well before you’re ready to retire. The introduction of transition to retirement (TTR) pensions in 2005 meant many as young as 55 […]