There is something inarguably beautiful about the movement of time. For better or for worse, we all grow old one day and the way the commandments of social existence works is that we have to put up our feet and retire from work. The baby boomer generation, however, had a different idea of retirement and the Gen X and Y has an almost bipolar notion.
Author: Alan Preston Archives
ATO Warning: Avoid Dividend Washing
In an article for the website Smart Company, Kirsten Robb talks about the new penalty regime and how the SMSF trustees can be taken to the cleaners for misusing their funds. 2000 SMSFs have undertaken what may be referred as dividend washing, a dangerous share trading strategy.
Why You Should Avoid Financial Advice from Property Promoters
In an article for the website Smart Company, Kirsten Robb sheds light on the financial advice unethically offered by real estate agents. It should be noted that property promoters who don’t carry an Australian Financial Services (AFS) license are not eligible to give recommendations on SMSF-routed real estate investments. Yet, this is what’s exactly happening rampantly.
Superannuation to the Rescue: The Importance of Super Fund
Superannuation, in many ways, is our vehicle leading to a decent post-retirement life. We have this fleeting vision of life, so we often tend to disbelieve in the distant future; but surprisingly, it arrives one day. We actually grow old and retire, and it is then that Superannuation fund comes to our rescue; if we have paid some emphasis on it during the course of our working lives that is. Let us first define superannuation and explain the importance of Super fund.
AFS License Required when Giving SMSF Advice
In an article for the Property Observer, Jonathan Chancellor brings to light the spurious conduct of real estate agents and property promoters who offer SMSF advice without holding an Australian Financial Services (AFS) license.
Promoters are coaxing investors into using their SMSF kitty to buy residential and commercial properties. The appalling state of affair became further evident with the fall of one-stop-shop, Charterhill.
What proves to be the undoing of all such operators is the fact that they use one-size-fits-all strategy for every kind of investor. How can you go for a single combination (SMSF, property, and Limited recourse borrowing) for every hierarchy of investor and not face a bust, asks Chancellor.
Aspirations of fly-by-night dealers and delinquent promoters need to be put to rest; after all, we are talking about SMSF money pouring into real estate- and it is a sum of billions, it needs being asserted.
You can read the original article here.
Super Taxation Regime Does Not Need Big Changes
In an article for the website Super Review, Mike Taylor suggests that the prevailing Super tax regime can work quite well and lofty changes need not be made in the structure. It is nice to think of altering the concessional contribution cap, contravention threshold, and a few more things to an extent, but it does not mean we start making real big changes to the regime.
