Redwood Advisory SMSF
Employers will soon need to make super contributions to SMSF via SuperStream All funds, including SMSFs, need to be ready to receive the contributions as well as the associated data by electronic means that comply with the new standard Its important for all funds, SMSF trustees and employers to understand their obligations under this new…
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Over 80% of the approximately 500,000 self managed superannuation funds (SMSF) are set up as individual trustees. In my view, this is a mistake, however it’s not too late to fix this issue. There are a number of issues that you may encounter in using an individual trustee structure which include asset ownership, the death…
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The power of Self Managed Superannuation Funds (“SMSF”) has become more publicised of late, the Reserve Bank of Australia even attributing SMSF’s for a possible ‘property bubble’, after all, SMSFs are a $530 billion dollar industry- that’s a fair chunk of money. Recently, SMSFs have quietly influenced sales in another sector of the property market…
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Many Australians consider using their SMSF to invest in precious metals such as gold and silver for security, diversification of investments and protection of wealth. There are several steps to buying gold through a SMSF. They are 1. Contact a SMSF Specialist advisor to set up your SMSF 2. Transfer (roll over) your money into…
read moreShort 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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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…
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