Update for 2016. Due to changes since the release of this post, please note the following updates; the $150k non concessional cap referred to in the video is now $180k; and the age at which you can start your transition to retirement pension is linked to your date of birth and may be higher than age 55. … Read More Why Super is so Super
Hi So this is one of my favourite strategies for those that want to give their kids something really special & long lasting, and it is so simple. I wish someone had done it for me! First off, did you know that a child of any age can open a superfund – they just need… Read More LOOK AFTER YOUR KIDS IN THEIR RETIREMENT
Sometimes we find that people have, what could delicately be termed as, “forgotten” to declare foreign income. Perhaps they didn’t realise they had to, or they had forgotten they had a flat in the UK, or that if they worked overseas but forgot to take their wife and kids with them they were still resident for Australian tax… Read More Have you forgotten to declare foreign income?
The ATO have a new arsenal of weapons for SMSFs that fail to follow the rules. For contraventions that occur after 1 July 2013, the table below shows the (massive) fines applicable PER trustee. That is if you have two individuals as trustees you can double the amounts shown. A huge incentive to get your… Read More New ATO Penalties for SMSFs
One of my jobs is to help clients make sensible decisions about money. One of the most common questions I get is, “Should I repay the home loan, invest or put money into super”? And, perhaps unsurprisingly, the answer is always that it depends …. each individual needs to make a decision based on their personal values… Read More Do I pay off the home loan, invest or put more into super?
Were you aware that fixed interest mortgage rates are pretty much at 20 year lows? Look at the purple line on the graph below. So in many ways it makes sense to lock in a fixed rate now. If not for your entire loan, then at least for the part of your home loan that you don’t… Read More To Fix or not to Fix
No idea where your money goes? Arm yourself with three months of bank and credit card statements, a glass of wine and the spreadsheet on this link. It is best if one of you completes it to start with. Then discuss the results, (nicely & in a productive manner) with your other half (if applicable),… Read More Free Cashflow Spreadsheet