Will my money outlast my working years? This is a question bothering many of us. The dilemma forms a core of our society; the inherent fear that we may have to live on nearly nothing once we are retired. There is good reason to assume so and the precarious footing on which Baby Boomers find themselves today only strengthens the argument.
Super News
Superannuation Not on Discussion Table of Federal Budget
Superannuation
In an article for the Sydney Morning Herald, Nerida Cole writes that the Federal Budget has kept nearly mum on the Superannuation changes but it does not imply that the issue will be put in the backburner for long.
In this budget, there has been a minor talk about imposition of extra penalty units in the event of breach of the Superannuation law. Also, the budget has addressed how the terminally ill can access their SMSF pool better. But this is all that got discussed under the head ‘Superannuation’. The Australian tax system is under review and the White Paper will certainly talk about structural recommendations; but that is for some other day.
You can read the original article here.
SMSF Investors Underplay Loan Growth
In an article for the website The Adviser, James Mitchell talks about how the whole data surrounding lenders targeting SMSF investors is being misinterpreted. James hickey from Deloitte feels that it is the non-SMSF investors who have taken the bigger pie of the mortgage settlement cake. Refinancers, non-SMSF investors, first home buyers and owner-occupiers also took the main portion of the mortgage settlements.
You can read the original article here.
Superannuation Structure to Remain Untouched
In an article for the website SMSF Adviser, Katarina Taurian talks about how the Federal Government has stayed true to its pre-election promise and not made any harmful alteration to the Superannuation structure. Jordan George, Senior Manager of the SMSF Association (technical and policy) feels that the government’s stance of keeping things unchanged only proves that we are stable enough to survive without making changes.
Few SMSF Trustees are Confident with their Retirement Fund
A majority of Aussies feel they won’t be able to outlive their retirement fund. This sentiment comes in wake of a lot of flak that the baby Boomer generation and their carefree attitude has faced over the last year or so.
Understanding the Risks of SMSF in a Single Account
While single bank accounts seem lucrative, they are beset with quite many traps. Unless you comprehend the risk-benefit equation properly, there is no point venturing further. SMSF practitioners would definitely have felt relieved when the ATO declared that they could hold segregated pension assets even within a single bank account.
