Redwood Advisory SMSF
During the COVID period, a popular SMSF strategy was to find a new expensive hobby and make your childhood dream and buy a classic car in your SMSF. A classic or collectable vehicle is classified by the ATO as a ‘collectable or personal use asset’. These also include precious metals, boats, wine and jewellery.…
read moreThis is a testing time for all of us, something none of us can say we have seen – the most challenging time economically since the great depression and since wartime. This crisis is having a major impact on our economy and our retirement as well as our health creating fear and anxiety from an…
read moreThis is a testing time for all of us, something none of us can say we have seen – the most challenging time economically since the great depression and since wartime. This crisis is having a major impact on our economy and our retirement as well as our health creating fear and anxiety from an…
read more
SMSFs are beneficial for so many reasons including control, choice, flexibility and a concessional tax rate. I hope your SMSF is treating you well and you’re kicking goals and that you’re partnership with Redwood is also kicking goals. However, you may have received the fright of your life with a “threatening” letter from the ATO…
read more
Every SMSF must a functional bank account. It is just one of the many compliance RULES of running a SMSF. A bank accounts purpose is to receive rollovers, contributions, receive income, pay expenses and-at retirement-will eventually pay your pension. At Redwood, we have found that Macquarie offer a Cash Management Account (CMA) which is second…
read more
Another year, another tax payable. WHY? Its extremely important to understand the key benefit of a SMSF and that is its concessional tax rate as compared to a members personal tax. Importantly its not all about a “tax refund” generally any losses are carried forward in the super environment. There will be on many occasions…
read more
WITH INTEREST RATES AT RECORD LOWS AND THE BANKS COMPETING FOR YOUR LOAN, THE KEY QUESTION ON EVERYONES MIND – IS IT THE PERFECT TIME TO “FIX” THE RATE OR LEAVE YOUR RATE AT VARIABLE? The Reserve Bank of Australia reduced the cash rate to a record low of 1% with two 25 basis point…
read more
SMSFs have enjoyed the ability to borrow to buy residential and commercial property since 2007. Its been an extremely popular strategy for mum and dad investors and “millennials” looking to increase their exposure to property with the booming property market in major capital cities. However, due to the Royal Commission and possible change of Federal…
read more
SMSF are beneficial for so many reasons including control, choice, flexibility and a concessional tax rate. There are many strategies available to SMSFs including buying residential and commercial property. However a lesser known strategy is that a SMSF can buy a farm and lease it back to your business. The “farm” strategy is much like…
read more
You have worked your bottom off for your adult life, hopefully built an awesome retirement nest egg and now wandering if its time to retire an drawdown on your Super. Unfortunately, the government has mandated when you can access your Super. Soits not as simple as just withdrawing from your SMSF, you must meet the…
read more