• P: 1300 790 110 | E: service@redwoodadvisory.com.au

smsf

nest eggs

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…

read more

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…

read more

SMSF – WHEN CAN I WITHDRAW MY BENEFITS FROM MY SMSF?

The Redwood Advisory promise is to make taking control of your super easy through your SMSF. This article will highlight the keyconsiderations/ rules of witdrawing your benefits from an SMSF. A rule of thumb is that except in a special set of defined circumstances, such as severe financial hardship or permanent incapacity, you cannot withdraw…

read more

SMSFs Borrowing @ 0% Interest Rates From Related Persons

The ATO has recently issued two private binding rulings which broadly accepts that a SMSF can borrow from a related party at a 0% interest rate when investing in a geared fund asset – albeit a cautious approach should still be applied in my opinion. http://ato.gov.au/rba/content/?ffi=/misc/rba/content/1012414213139.htm http://ato.gov.au/rba/content/?ffi=/misc/rba/content/1012396819768.htm

read more

Are SMSF Costs/ Expenses Deductible?

Like other taxpayer entities, a complying SMSF is entitled to deduct from its assessable income any losses or outgoings that are: • incurred in gaining or producing assessable income • necessarily incurred in carrying on a business for the purpose of gaining or producing such income. Expenses that a complying SMSF can deduct include: •…

read more

SMSF & GST

If you carry on an enterprise, you must register for GST if your GST turnover is $75,000 or more. However, most SMSFs do not have to register for GST because most SMSFs mainly make input-taxed supplies, which do not count towards your GST turnover. Input-taxed supplies include financial supplies and supplies of residential premises by…

read more