SUPERANNUATION, yes, it's still tax free. However, it comes with changes in that if you have more than $1.6m in superannuation at retirement, the amount over those earnings (not the withdrawals) will not be tax free from July 2017.
Not all bad news, as the bits above $1.6m still receive low concessional tax rates (10 or 15%). And, in most cases, it is far better than being taxed outside of superannuation.
THE FOLLOWING is a little-known (but should be widely-known) ATO explanation on how to calculate CGT on a property that was formerly your home that you subdivide much later. And how the principal place of residence can be lost.
MC HAMMER'S HIT SONG of the early 90's resonates when thinking about the main reasons people resist investing into their superannuation.
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HOW WOULD YOU like a detailed checklist to make sure no deductions are left unclaimed? You will find it covers virtually everything you need as a Commercial property investor, including things like …
IN A RECENT INTERVIEW with Dallas Brooks (on his program “Dollars with Sense”) … Steve Enticott explored these of 3 questions in quite some depth — because they especially the relate to Commercial property. [Read more…]
MANY MARRIAGES END in divorce and the many members of Australia’s self managed superannuation funds (SMSFs) are not immune to this heartache.
As there are more than 1 million SMSF members nationwide, it should come as no surprise that the assets of an SMSF are often the next big ticket item after the marital home in any family law settlement.
Good outcomes can be generated for both parties with a little communication and compromise.
Let’s work through a case study using a Commercial property held within an SMSF and tenanted by the associated business of one of the SMSF beneficiaries. [Read more…]
AS YOU PROBABLY realise, this is not quite as simple as it may seem. And yet, all you need to do is follow some clearly defined procedures. [Read more…]
IMAGINE A SITUATION where you, through no fault of your own, are faced with a major lawsuit because one of your contractor suppliers has let you down and has gone into bankruptcy. [Read more…]
I’M IN MY 40s … and well behind where I want or need to be. My career has stalled and the marriage is shaky because we’re constantly arguing about money. This is probably because my partner never returned to serious paid work after we had the children.
We’re far from making any dents in the mortgage. In fact, it’s actually rising slightly each year, what with the kids’ secondary education to pay for on top of all the other demands on our single income. [Read more…]
ARE YOU THINKING about borrowing to buy property or other assets via a Self-Managed Superannuation Fund (SMSF)?
If so, you may be wondering whether you need a bank to lend directly to your SMSF; or if there is a simpler and cheaper way to borrow? [Read more…]
SEVERAL PEOPLE have asked how to pay less tax on on their investment properties. Therefore, we’ve put together a list of our best 7 tips to help you save money at tax time.
While a property is rented, available for rent or in the process of being built for rent, loan interest is tax deductible?– even if it is still at planning stage.
This includes the interest you pay on money you use to purchase or improve the property. [Read more…]
