Redwood Advisory SMSF
During the COVID period, a popular SMSF strategy was to find a new expensive hobby and make your childhood dream and buy a classic car in your SMSF. A classic or collectable vehicle is classified by the ATO as a ‘collectable or personal use asset’. These also include precious metals, boats, wine and jewellery.…
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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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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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After working so hard all your life, you begin to wonder when you can access those super benefits you have been saving all these years! There are rules and regulations of when you can access your super benefits but generally when you reach the age of 65 you are able to withdraw your money with…
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WITH INTEREST RATES AT RECORD LOWS AND THE BANKS COMPETING FOR YOUR LOAN, THE KEY QUESTION ON EVERYONES MIND – IS IT THE PERFECT TIME TO “FIX” THE RATE OR LEAVE YOUR RATE AT VARIABLE? The Reserve Bank of Australia reduced the cash rate to a record low of 1% with two 25 basis point…
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SMSFs have enjoyed the ability to borrow to buy residential and commercial property since 2007. Its been an extremely popular strategy for mum and dad investors and “millennials” looking to increase their exposure to property with the booming property market in major capital cities. However, due to the Royal Commission and possible change of Federal…
read moreMany self-managed superannuation fund (“SMSF”) investors are interested in smsf investing in overseas property and request information on purchasing a property in the United States (“US”) through their SMSF. This has been a popular strategy in the last 5 years with the global financial crisis and defaults on mortgages in the US resulting in ‘cheap as chips’…
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There has been significant interest from Self Managed Superannuation Fund (“SMSF”) investors in the national rental affordability scheme (“NRAS”), which is designed to encourage large-scale investment in affordable housing. The NRAS offers tax and cash incentives to providers of new dwellings on the condition that they are rented to low- and moderate-income households at 20%…
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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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