Redwood Advisory SMSF
Short answer is “Yes”, you can. Off market transfers will continue to be considered legitimate according to a recent announcement by the Coalition government. The Government had previously announced that off-market transfers of listed securities between SMSFs and related parties would be banned from 1 July 2013. This is seen as a major win…
read moreShort answer is “Yes”, you can, under certain conditions. A short example will be used to explain the answer. One of our clients called us in a state of panic recently, explaining how he had paid our SMSF administration fee with a personal credit card instead of paying from the SMSF. He contacted…
read moreIt is imperative for all members/ trustees to understand the concessional and non-concession contribution caps for an income year. Concessional Contribution Cap Concessional contributions include employer contribution and personal contributions claimed as a tax deduction by a self employed person. For the 2013-14 income year the amount of concessional cap is $25,000.…
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Many self-managed superannuation fund (“SMSF”) investors who borrow through their SMSF (SMSF loan) ask the question of what constitutes a “single acquirable asset”. SMSFR 2012/1 released by the ATO provides 15 examples of what constitutes a single acquirable asset. Under limited recourse borrowing (“LRBA”) rules, SMSFs are required to enter a separate lending arrangement for…
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Redwood’s trusted business affiliate ‘SMSF Property Capital’ introduces their new ‘Park Avenue’ development at 66 The Avenue, Peregian Springs QLD, which is a perfect opportunity to invest in Australian property safely with no debt. Occasionally we come across different products in the market, and after extensive due diligence, Redwood Advisory is happy to…
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