Superannuation & SMSF Strategies

Treasurer Scott Morrison’s release last week of the first tranche of new super legislation has been welcomed by the industry, but it digs an even bigger hole in the Budget. Morrison unveiled the nicest bits of his 2016 Budget super package, including tax savings for low-income workers and new rules that allow anybody aged under 75 to make personal tax-deductible contributions.

One of the lessor known benefits of having a SMSF is the flexible financing options that are available. Many SMSF trustees still don’t realise they can actually lend money to their SMSF and charge the sort of rates achieved by banks and other financial institutions.

The benefits of having a SMSF is you have the power to make the investment decisions. You have freedom to select investments that you think will benefit the SMSF members.

There is unprecedented growth in the SMSF sector and the question I sometimes get is whether an existing SMSF can still operate if its trustees and members are overseas.

Super is generally there for your retirement. Once you have met your preservation age and retire you’re able to access your super.

International managed portfolios are vital for self-managed super funds to diversify their portfolios, according to head of marketing and distribution at HUB24, Wes Gillett.

On the 3rd May 2016, the federal government announced an immediate cut to the non-concessional contribution limit. The cap is now a lifetime limit of $500k.