Redwood Advisory SMSF
Short answer is “Yes”, you can. Off market transfers will continue to be considered legitimate according to a recent announcement by the Coalition government. The Government had previously announced that off-market transfers of listed securities between SMSFs and related parties would be banned from 1 July 2013. This is seen as a major win…
read moreShort answer is “Yes”, you can, under certain conditions. A short example will be used to explain the answer. One of our clients called us in a state of panic recently, explaining how he had paid our SMSF administration fee with a personal credit card instead of paying from the SMSF. He contacted…
read moreIt is imperative for all members/ trustees to understand the concessional and non-concession contribution caps for an income year. Concessional Contribution Cap Concessional contributions include employer contribution and personal contributions claimed as a tax deduction by a self employed person. For the 2013-14 income year the amount of concessional cap is $25,000.…
read moreThere has been significant press around Self Managed Superannuation Funds (“SMSF”) and Australian Property investment recently. It is arguable that every bank is jumping on the SMSF Property bandwagon with every bank now marketing a SMSF loan product. Regardless of whether you choose to use a third-party loan, a related party loan, or a combination…
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Many self-managed superannuation fund (“SMSF”) investors who borrow through their SMSF (SMSF loan) ask the question of what constitutes a “single acquirable asset”. SMSFR 2012/1 released by the ATO provides 15 examples of what constitutes a single acquirable asset. Under limited recourse borrowing (“LRBA”) rules, SMSFs are required to enter a separate lending arrangement for…
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Almost on a daily basis, we would be able to see articles from either web or newspapers written onthe topic of investing in Commercial Property using Self Managed Superannuation Funds (“SMSF”), which may not be a surprise as there is clearly an upside of benefits embedded in such an option. And an increasing number of…
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Self-managed super funds (“SMSF”) are the fastest growing part of Australia’s superannuation industry and are the preferred vehicle for professionals and business entrepreneurs. Australia’s Superannuation Industry is worth $1.6 billion dollars with over $550 billion represented by SMSFs. There is incredible growth in SMSFs for the following reasons: Control Tax effectiveness Potential cost savings Flexibility…
read moreOnce you set up a SMSF with Redwood Advisory, a key question is how much can I contribute to the SMSF. Super contributions fall into two categories: 1) Concessional Contributions: These are contributions where the person putting the money into the fund is claiming a tax deduction (concessional). They include: Contributions made by your employer…
read moreThe Redwood Advisory promise is to make taking control of your super easy through your SMSF. A key part of the SMSF establishment process is opening your Self Managed Superannuation Fund (“SMSF”) bank account. This article will highlight the key steps in the process to ensure your bank account opening process is smooth with no…
read moreThe Redwood Advisory promise is to make taking control of your super easy through your SMSF. A key part of the SMSF establishment process is rolling over your superannuation balance from your industry/ employer sponsored fund (i.e. Australian Super/ MLC etc.) to your Self Managed Superannuation Fund (“SMSF”). This article will highlight the key steps…
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