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Buying Gold with my SMSF

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…

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Can I Reimburse the SMSF for Expenses Paid Personally?

Short 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…

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What is the Contribution Cap for my Self Managed Superannuation Fund (SMSF)?

It 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.…

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SMSF RELATED PARTY LOANS AND PROPERTY INVESTMENT

There 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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SINGLE ACQUIRABLE ASSET FOR A LIMITED RECOURSE BORROWING AGREEMENT (SMSF LOAN)

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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WHY SHOULD YOU START A SELF MANAGED SUPERANNUATION FUND?

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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SMSF CONTRIBUTIONS

Once 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…

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