Redwood Advisory SMSF
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…
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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…
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The consideration of insurance is super is an important decision for all members – and an important consideration of cost vs benefit. Insurance are one of those products that helps us sleep at night. By purchasing insurance, we protect ourselves and our families by averting monetary risk at times of financial loss or when if…
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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…
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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 and…
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It is always interesting to see far SMSF’s have come over the years. To help us, the ATO has given us insightful statistics to shed some light on SMSF’s in our current day – which has been shown below. Interesting topics worth noting are that the Majority of SMSFs (57%) have a Corporate Trustee. Furthermore,…
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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…
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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…
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You have just applied for a Macquarie Cash Management Account (Macquarie CMA) for your SMSF. Shortly, you will receive an email from Macquarie requesting your authorisation to establish your new Macquarie CMA. Please review the application and ensure that all prefilled information is correct, using the link provided. This is then to be submitted by…
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