Redwood Advisory SMSF
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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The end of the financial year is fast approaching us, so now is the time to think about key strategies for your SMSF before 30 June 2016. There is still time! Self managed superannuation funds (“SMSF’s) are about strategy. There are many SMSF strategies available which can be utilised to boost your retirement savings as…
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PAYG is a system for making regular payments towards your expected annual income tax liability for your SMSF and is applied after your first annual return is lodged. Your payments during the year are based on the previous year’s tax payable, and any amount paid is credited against the next years tax payable. PAYG are…
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Buying a Property and establishing a Self Managed Superannuation Fund (“SMSF”) require a clear strategy to determine if a SMSF and property is right for you. Off the plan apartments can be attractive to many investors, however there is more to consider than the glossy brochure. Deciding on the right criteria for an SMSF investment…
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SMSF Property Investors – Don’t overlook the benefits of Property Depreciation Schedule The question of SMSF Depreciation comes up a lot with our clients. Redwood Advisory encourages clients to obtain a SMSF Property Depreciation Report to claim deductions where possible. Which expenses can I claim? SMSF Properties are entitled to claim depreciations when they complete their…
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Borrowing in superannuation was introduced in 2007, for the right reasons to allowing flexibility and control for Australians to build wealth and create financial freedom – in the long term to benefits the retirement of Australian. Mr David Murray has released the “Financial Systems Inquiry” (“FSI”), a 320-page report which provided 44 recommendations. We will…
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An SMSF can refinance an existing SMSF loan. This is beneficial for Limited Recourse Borrowing Arrangements (“LRBA”) entered into many years ago where interest rates were higher with less SMSF lenders in the marketplace. Currently, SMSF lending is competitive with many if not all lenders offering a SMSF Loan product. After all, SMSFs is a…
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To the knowledgeable SMSF investor, an offset account is a ‘must-have’, both inside and outside of super. An offset account is a valuable feature of a SMSF loan. This is due to the fact that SMSFs generally hold a reasonable proportion of cash within the SMSF, either for a ‘rainy day’ or thinking about your next…
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A contentious area of SMSF Lending is the growing trend of SMSF lenders to obtain a personal guarantee for SMSF Loans. Our experience indicates that many brokers and SMSF Trustees lack the required understanding of the impact of the personal guarantee, and usually spot the personal guarantee too late when they are signing mortgage documents…
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