Redwood Advisory SMSF
In the Self-Managed Superannuation Funds (SMSF) world, valuing assets at “market value” has always been essential to reflect the real value of the fund. However, recent scrutiny from the Australian Taxation Office (ATO) has brought this issue to the forefront of discussions within the SMSF community. The ATO has raised concerns about SMSF’s consistently reporting…
read more
The superannuation contributions caps for concessional and non-concessional contributions will increase on 01/07/2024 which is the start of the 2025 financial year. The government has announced these latest figures in an effort to keep up with the cost of living crisis including rising inflation and increases in the super guarantee charge (“SGC”) rate to 11.5%.…
read more
One of the key strategies of SMSF is to invest in direct property. While some SMSFs may have sufficient funds to purchase a property in cash, many others, particularly those with a younger demographic, have chosen to use a loan to purchase their property. There are two methods to secure a loan either through a…
read more
SMSFs need to be aware of a key requirement of running an SMSF – you cannot withdraw from your fund unless you meet a condition of release. Funds can be withdrawn from superannuation accidentally (i.e. transfer from internal accounts) or intentionally due to many financial pressures such as financial distress. The Australian Tax Office (“ATO”)…
read more
Everyone has different goals in life. But whatever your goals, getting advice from a qualified financial adviser will help you articulate your plan and can help you achieve your goals – soon. It’s not just about planning for the future either. A financial adviser can help adjust your current situation as well as preparing you…
read more
One of the most important financial decisions is what to do with your hard earned superannuation and with 1.1 million Australians choosing a SMSF its certainly a buzz word for discussion for many particularly with the impact of covid during 2020 and 2021. Before you set up an SMSF, Redwood would like to outline some…
read more
From 1 July 2021, self-managed super funds (SMSF) and small APRA funds (SAFs) will be able to have up to six members – increasing from the current maximum of four members. Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 received royal assent on 22 June 2021. It is not just a matter of adding…
read more
Some good news for SMSF members is that concessional and non concessional contribution (NCC) caps will increase from 1 July 2021. Indexation will result in an increase in the concessional cap from $25,000 to $27,500 and the NCC will increase to $110,000 per year with the ability to bring forward $330,000 in one year subject…
read more
For some time I have been working to find a better way to borrow in a Self Managed Superannuation Fund avoiding the penalty interest rates applied to SMSF Loans after the withdrawal of the Big 4 and Macquarie leaving non bank lenders to dominate the SMSF space. We were also of the belief that the…
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