Redwood Advisory SMSF
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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Another year, another tax payable. WHY? Its extremely important to understand the key benefit of a SMSF and that is its concessional tax rate as compared to a members personal tax. Importantly its not all about a “tax refund” generally any losses are carried forward in the super environment. There will be on many occasions…
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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…
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SMSF are beneficial for so many reasons including control, choice, flexibility and a concessional tax rate. There are many strategies available to SMSFs including buying residential and commercial property. However a lesser known strategy is that a SMSF can buy a farm and lease it back to your business. The “farm” strategy is much like…
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You have worked your bottom off for your adult life, hopefully built an awesome retirement nest egg and now wandering if its time to retire an drawdown on your Super. Unfortunately, the government has mandated when you can access your Super. Soits not as simple as just withdrawing from your SMSF, you must meet the…
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Many Australis donot pay attention to their insurance and hold the minimum super as provided by their employer sponsored funds. This can include automatic acceptance of options with no assessment of the personal situation of the individual and may or may not include life and TPD and income protection insurance. Many donot even know whether…
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Self Managed Superannuation Funds (“SMSF”) has become the vehicle of choice in recent years particularly for “mum and dad” investors who are using their SMSF to buy direct real estate. Further, due to the increasing amount of knowledge of investors and lower costs to set up and run an SMSF and the continued frustration with…
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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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