Redwood Advisory SMSF
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 moreOnce 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 moreThe Redwood Advisory promise is to make taking control of your super easy through your SMSF. A key part of the SMSF establishment process is opening your Self Managed Superannuation Fund (“SMSF”) bank account. This article will highlight the key steps in the process to ensure your bank account opening process is smooth with no…
read moreThe Redwood Advisory promise is to make taking control of your super easy through your SMSF. A key part of the SMSF establishment process is rolling over your superannuation balance from your industry/ employer sponsored fund (i.e. Australian Super/ MLC etc.) to your Self Managed Superannuation Fund (“SMSF”). This article will highlight the key steps…
read moreThe Redwood Advisory promise is to make taking control of your super easy through your SMSF. This article will highlight the key steps in setting up your SMSF to ensure it is smooth with no surprises. Steps to set up your SMSF: Contact Redwood Advisory – SMSF specialists on 1300 790 110 or www.redwoodadvisory.com.au Complete…
read moreThe 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 moreThe 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 moreLike 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 moreIf 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 moreConstantly, our SMSF clients ask Redwood Advisory, what is better, a corporate or individual trustee structure for your SMSF. At Redwood Advisory, we recommend all funds are set-up with a corporate trustee structure for a fee of $900 (plus GST) including ASIC costs. There may be a set-up cost however, this will definitely pay off…
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