Redwood Advisory SMSF
As a property focused accountant, one of the most common questions I receive is whether you can engage in property development using a Self Managed Superannuation Fund (“SMSF”) – the answer is yes you can! However you need to tread carefully to comply with Superannuation Law. Many of our clients have great experience with property…
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The Senate has passed the key Bill that will give effect to the debated super reforms which will have a key impact on SMSF’s. What does this mean for your SMSF? The proposed changes from the 2016 Federal Budget have been watered down, however, Treasurer Mr Scott Morrison has stated the changes are the most…
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The Federal Government has made significant changes to its superannuation reforms. They have scrapped the controversial superannuation $500,000 lifetime non-concessional contribution cap and replaced it with an annual limit of $100,000. This is a backflip from the position of the Federal Government pre-election and is designed to win over the back bench and the Senate to…
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When considering whether to take out life insurance, income protection or trauma insurance it is important to understand the differences between stepped or level premiums to determine which is the best option for you, both now and in the future. Put simply, insurance premiums generally increase the older you get, as the more likely you…
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The budget has been handed down and as suspected, Treasure Scott Morrison has handed down the biggest shake up in over a decade targetting high income earners. There are major changes for Superannuation Funds, particularly, those who utilise the contribution caps – both concessional and non concessional. The changes are hot off the press however…
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The end of the financial year is fast approaching us, so now is the time to think about key strategies for your SMSF before 30 June 2016. There is still time! Self managed superannuation funds (“SMSF’s) are about strategy. There are many SMSF strategies available which can be utilised to boost your retirement savings as…
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PAYG is a system for making regular payments towards your expected annual income tax liability for your SMSF and is applied after your first annual return is lodged. Your payments during the year are based on the previous year’s tax payable, and any amount paid is credited against the next years tax payable. PAYG are…
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Contributions reserves have become more commonplace in recent years as SMSF members have become more aware of the tax benefits of the strategy. Let’s learn how to implement this awesome strategy pre 30 June as time is running out to take advantage of this awesome strategy. Contribution reserves are “suspense” accounts which can be used…
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Negative gearing is now part of a political football game between Labor and Liberal parties. All the property news has focused on the recent announcement by Labor that, if elected, they will take away “negative gearing” for established property, leaving incentives only for “new” properties. So what is negative gearing? You hear “negative gearing” all…
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Buying a Property and establishing a Self Managed Superannuation Fund (“SMSF”) require a clear strategy to determine if a SMSF and property is right for you. Off the plan apartments can be attractive to many investors, however there is more to consider than the glossy brochure. Deciding on the right criteria for an SMSF investment…
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