PORTFOLIO POINT: Sticky fingers reaching for the super pie again? If it’s true, they’re after YOU. You might not think you are “fabulously wealthy”. But what is that anyway? We won’t know until the government defines it. But be under no misapprehension that if the government is going to tinker with super taxes in this […]
“I know what you’re thinking. Did he fire six shots, or only five … you’ve got to ask yourself one question: ‘Do you feel lucky?’ Well, do ya punk?” Thank you Dirty Harry. Interest rates are that 44 Magnum and getting the fixed rates equation wrong could “blow your head clean off” in a financial […]
PORTFOLIO POINT: Ramping up your non-concessional contributions before starting the pension can aid transition-to-retirement plans. There’s little doubt that transition to retirement strategies have been, well, neutered, to a large extent, in recent years. If you were aged 55-59 and all of your super was taxable component (that is, predominantly concessional contributions), then the major […]
What’s not to love about tax time? The ATO wants to hand back some of the money it took from you! Billions of dollars raining from the sky. Okay, your first mistake is dreading tax time. Flip the way you think about it. It’s like finding money on the ground. As an employee, I looked […]
Next time you order in a pizza, put a big dollop of ice cream in the centre. Let it melt, then eat. Bad combination? Right, now you get Debt Man and shopping. If you ever see me in a retail environment – anything except a restaurant, pub, or bottle shop – do not approach or […]
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 […]
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 […]
“Oooh, ooh! Me, sir, me! I know this answer! Please sir!” “Ye-e-es, Debt Man,” the teacher says hesitantly. (He always hestitates when I raise my hand.) “That you shouldn’t get cornered into making promises that, deep in your heart, you really don’t want to keep?” Prime Minister Julia Gillard promised at the last election that […]
PORTFOLIO POINT: Here’s another major benefit of SMSFs – managing contributions over two years. The power of super as a retirement vehicle has plenty of boundaries. There are plenty of brakes stopping you getting money in, for a start. But there are a few boundaries that are allowed to be pushed a little further to […]
PORTFOLIO POINT: These assets stay here. Those assets go there. Segregation within SMSF can lead to better tax outcomes. The word “segregation” has some nasty connotations, most usually associated with policies of entrenched racism. South Africa under apartheid and the deep south of the United States pre- and post-Civil War are infamous examples. Less nasty, […]
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