Are you questioning your obligations and requirements aligning with your SMSF diversification strategy? The Australian Taxation Office has recently mailed around 17,000 SMSF trustees with a ‘please explain’ letter. The target was a batch of funds that have more than 90% of their assets in a single asset class.
In many uninformed sectors of the media there was a tendency to report the issue in such a way that implied that having a single asset,
Yes – your SMSF can invest in gold and silver bullion and other precious metals as part of your investment strategy however there are a number of rules that you must comply with. Importantly, an SMSF investment in gold or silver bullion valued entirely on the spot price of the precious metal.
Knowing how much you need in retirement is more about knowing what kind of lifestyle you desire when you have retired, or, transitioning to retirement.
According to the ASFA Retirement Standard, for a single person that magic number is $545,000.
But according to the ABS –
Self-managed super funds have often been criticised for lacking diversification when it comes to their investments, specifically that SMSFs have too much in Australian shares and cash and not enough in international investments.
This criticism is somewhat unwarranted as SMSFs access international investments via Australian managed funds and ETFs.
The downsizer contribution initiative is due to come into effect on the 1 July 2018. Late last year the Government passed its policy which allows super fund members over the age of 65 to sell a main residence and contribute funds into their superannuation accounts without contribution cap and work test issues.
The recent surge in the price of Bitcoin has many investors seriously looking at crypto-currency as a part of their SMSF investment portfolio.
So, can an SMSF invest in bitcoin and crypto currency, and if so, what must trustees and advisers be aware of?
There are a number of key areas that trustees need to consider and address if they are looking if invest their SMSF monies into Bitcoin and other crypto-currencies / crypto-assets.
When planning for retirement, it’s important to understand your SMSF household needs, and outline your goals with your adviser.
The latest report on the financial health of SMSF trustees heading into retirement has found that the amount needed for a 65-year-old couple to afford a comfortable retirement has risen by 17 percent from $702,000 in the previous year to $824,000.
Over the last few months, many of our clients have been asking us what they need to do – if anything – following the raft of super changes that were made law in November that come into effect 1 July 2017.
Before I explain our approach for working with SMSF trustees impacted by the changes,
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