retirement

How much do we need to put aside for retirement?

  How much do you need to retire? When it comes to superannuation and retirement savings, it seems that size really does matter. There are other considerations of course, but for the most part the focus will be on finances when people aim to “improve” their post-work life prospects. The question of how much retirement

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The pension loans scheme

  To help pensioners who are asset rich but income poor, the government launched its own version of a financial product that has been commercially available for some time, the reverse mortgage. The government’s answer is its pension loans scheme (PLS), whereby a pensioner can apply for a non-taxable loan using some form of real

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Forced unwinding of your LRBA? Best to have a contingency plan

  Limited recourse borrowing arrangements (LRBAs) were once all the rage in SMSF land. However, with the tightening of banking rules this frenzy has begun to abate somewhat over the last few years. LRBAs are great in a growing market as they allow an SMSF to grow the value of assets it holds in the

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Bankruptcy, SMSF trusteeship, and trust deed safeguards

  Bankruptcy is a serious issue for anyone, but additional caution needs to be taken by members/trustees of SMSFs. Jeff Song, solicitor at Townsends Business & Corporate Lawyers, says that superannuation law expressly disqualifies any undischarged bankrupt person from acting as a trustee, or director of a corporate trustee, of an SMSF. He also reminds

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Event based SMSF reporting: Update on frequency

  Gabriela Rusu looks at the ATO’s final position on the event based reporting framework for the SMSF sector, as well as some of the myths surrounding this reporting. Late last year, the ATO released information in relation to how often SMSFs should report events to the ATO that affect an individual’s transfer balance account

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How much do you need to retire?

How much do you need to retire? When it comes to superannuation and retirement savings, it seems that size really does matter. There are other considerations of course, but for the most part the focus will be on finances when people aim to “improve” their post-work life prospects. The question of how much retirement savings

[ Read More ]

SMSF news just keeps getting better

The ATO has just released the latest of what has become a regular update on the state of the SMSF market. The Self-managed super fund statistical report, with the latest covering the quarter to March this year, has become an anticipated overview for many in the SMSF arena — containing as it usually does some

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SMSF trustees are getting more used to outsourcing

Applying psychological “types” to professional cohorts is nothing new, and has even been used in the SMSF arena to classify trustees. About five years ago, independent research group CoreData identified three key types of SMSF trustee — “controllers”, “coach-seekers”, and “outsourcers”. The controllers were initially considered the biggest representative group, and typically represented the traditional

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Average age of “intending” retirees creeping up

Average age of “intending” retirees creeping up. New survey results from Roy Morgan Research shows that the average age of Australians intending to retire in the next 12 months is 61 years, up from 58 years in 2014. The average in 2008 was 57.5 years. Average age of “intending” retirees creeping up “This increase is

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Overview of superannuation system changes for SMSFs

The changes to the super system, announced by the government in the 2016–17 federal budget, have now been passed by Parliament. Overview of superannuation system changes for SMSFs. As reflected in the name of the legislation, the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, these changes were designed to improve the sustainability and

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