Investing in property through an SMSF
It is vital for those with a self-managed super fund (SMSF) to carry out the necessary checks before purchasing a property in their SMSF, especially where borrowing is involved.
Our experienced advisors have listed a number of checks to consider before purchasing a property with your SMSF.
Avoiding SMSF Disputes
Self-managed super funds (SMSFs) can be vulnerable to disputes, especially when family members are involved.
If left unresolved, disputes surrounding SMSFs can result in a hefty bill. SMSF disputes may be caused by various relationship breakdowns, for example, those funds with parents and siblings as members and trustees, or in cases where there is simply a clear difference of opinion.
Federal Budget: Super shake-up
This year’s Federal Budget saw a raft of changes to superannuation with introduced measures intended to improve the sustainability and integrity of Australia’s superannuation system.
Keeping it in the family
While the ATO continues to crackdown on tax minimisation strategies, quite a few legal pathways to paying less tax while preserving wealth for retirement or estate planning purposes still exist. Family trusts have significant tax saving abilities that make them an attractive tool for wealth creation.
Insurance traps in your super
Insurance arrangements in super can create a few surprise outcomes for members who leave big superannuation funds to start their own self-managed super fund yet leave a portion in their old fund.
Members need to be wary of the traps that can cause a loss of cover. As insurance is a complex financial product members need to understand the benefits, risks and the costs entailed when entering into insurance cover in large superannuation funds.
Wealth Management – Market Update
2016 has seen markets across the US, Eurozone & Asia suffer losses in excess of 5% and up to 14% while Australian Shares have fallen over 6%. This has seen markets fall to levels seen throughout the second half of 2015. Concerns are centred around the Chinese economy, the US Federal Reserve raising interest rates and the impact of the rising US dollar against the falling Chinese Renminbi. The falling oil price has also effected markets and has again raised concerns over emerging markets.