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.
The S&P/ASX200 Accumulation index finally put in a surge in October, with a gain of 4.01% in the month, shaking off a 6 month malaise. Twelve month numbers are back up to 16.13% almost double our expected annual 12 month returns of around 8.5%.
Global markets also had a good month,
One of the key challenges for people approaching retirement is adequately preparing for it. The other big challenge is gaining greater confidence in how their finances might look once retired.
Getting the right advice helps enormously with this, and likewise beginning the planning process earlier rather than later will reap rewards.
According to Australian Bureau of Statistics (ABS) figures, goods and services spending grew by 21 per cent in 2015-16 over the 2009-10 figure for households with a reference person between 55-64. In the same period, households headed by someone over 65 years of age saw a spending increase of 22 per cent.
Money know-how can come from anyone, young or old. When it comes to financial wisdom, author and speaker Kylie Travers has taken her lead from the previous generation.
Get serious about saving
You can’t avoid it. To get on top of your finances you need to save and to save means you have to have financial discipline.
The Australian market had a fair month in August. Mark takes us through the performance across the board to prepare us for what’s to come.
The Australian market had a fair month in August, with the ASX 200 Accumulation Index posting a 0.71% return for the month,
As you know, the superannuation reform announced in the 2016 Federal Budget has been largely implemented. We have busy working with our clients to address all their concerns and working with them to ensure that no rock is left unturned when it comes to their personal circumstance. In regards to the $1.6 million transfer balance cap,
A few months ago, we reached out and asked our clients to share their view on offshoring and how it influences their decision to work with professional services businesses like ours. We then put together a press release to voice their opinion to the industry releasing the results from the survey via Superfund Wholesale.
Capital gains withholding, a new threshold
From 1 July 2017, where a foreign resident disposes of Australian real property with a market value of $750,000 or above, the purchaser will be required to withhold 12.5% of the purchase price and pay it to the ATO unless the seller provides a variation (this is referred to as ‘foreign resident capital gains withholding’).