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Annie M.
Annie M.
Closeburn, QLD
1 Likes
0 Followers

There are two of us - with a $280k mortgage, and plenty of equity (no other investments).

A. 63yo with let's say $150k super and "retired"(but no pension). It's so low due to being in and out of a very fickle workforce (and recent (successful) cancer surgery), the life insurance component ate it up - thanks AMP...

B. 53yo (me) with great income and massive super (great employer, permanent role) and obviously some ways to go before retirement (and a $70k windfall pending but goodness knows when - never bank on it).

The question is - would it be beneficial in the long term to withdraw some of A's super (tax free) to reduce the home loan?

With B's income there is plenty of scope to either keep paying the higher mortgage payments for an early payout OR pay lower payments and more into super - need to reduce the pressure on A whose age is and issue getting back into this particular workforce (although we could never prove that). Or possibly gives us more disposable income to enjoy precious life a bit more.

As we age there is always the option of downsizing too - would leave us well in profit. So I am comfie that we will be OK in retirement. But is it a savvy financial decision??

23 hours ago
PJ M.
PJ M.
New Farm, QLD
4 Likes
0 Followers

I am thinking of gifting a friend's newborn with a $1000 investment in Spaceship Voyager's Universe portfolio. It is a new fund with ZERO fees up to $5000. No other hidden fees involved. The annual management fee moves to 0.10% after $5000. I like it because it provides a platform that is well suited to the millennial generation and beyond and since my investment is below $5000, it will be free. There are no in-out/brokerage fees.

I understand there are now high taxes imposed on children's unearned income (? income taxed at 66% once it exceeds $416pa). My question is, will this be imposed on the income from the portfolios dividends? And what kind of share portfolio value would yield more than $416 a year (I know this could be a wide range but am just curious if anyone had a rough idea)?

I have been told insurance bonds are another alternative and that low-cost ETFs are another option. I just wanted a platform that would be more targeted towards the younger generation and love how simple the platform provides a way to learn a little bit about different stocks on a mobile device.

P.S if anyone is interested in trying the platform themselves, if you use this link (www.goo.gl/sBDuCa) we will both get $20 to invest in the portfolio. I think if you sign up through the app without the link like I did, you won't get any free money to invest.

1 days ago
Lina A.
Lina A.
Melbourne, VIC
2 Likes
0 Followers

Homer Simpson is selling his farm of two titles (one old title and one Torrens Title) and the parties have agreed the vendor will provide two Transfer of Land Act titles. However, the new purchaser does not want to pay GST and keep stamp duty to a minimum. What advice could you offer to not pay GST and reduce stamp duty? What documents have to be prepared for the conversion to a transfer of title?

last week
AK L.
AK L.
Melbourne, VIC
1 Likes
0 Followers

Hi, I am 30 and earn 87k pa. My boyfriend is 27 and doesn’t have an income (but will in the next few years). We have combined savings of around 150k.

My question is: what is our best move? Continue to save and put down a chunky deposit on a place in Perth (where we plan to live in a few years) and then use equity to buy an investment property or the reverse? Buy an investment property in the interim that I can service with my income. Orrrr start a share portfolio?

I’m feeling the opportunity cost of not doing anything right now.

last week
Susan W.
Susan W.
Karana Downs, QLD
1 Likes
0 Followers

Hi I am 68 and retired. My accountant has suggested I put all the money from my superannuation account into an income stream as the profits are now being taxed at 15%. However I must withdraw 5% every year. At present I don’t need this money Wouldnt I be better off to leave it in the accumulation account where it is earning a reasonable amount? If I withdraw it I will have to pay more than 15% on any earnings. Or should I just travel more?

last week
PJ M.
PJ M.
New Farm, QLD
4 Likes
0 Followers

Looking for some general advice in this kind of situation:

- Purchased investment property within a company structure for the purpose of renovation and subdivision to sell on
- Market and personal circumstances have changed and so now the primary purpose of this property is to hold for capital growth (rental income does not cover interest repayments)
- Property is on >800sqm of low density zoned land on the northside of Brisbane and has good long term growth prospects
- Selling at this point would most likely lead to a small loss due to sales costs involved
- Due to the holding structure, the is a small land tax bill every year which would not be an issue if held in my own name
- There is a potential to proceed with original subdivision plan in the distant future (most likely >5 years)

Would it be wise to wait till the capital growth covers these losses and sell the property to break even OR hold on for capital growth in the much longer term, knowing it is in a structure that won't be eligible for the capital gains discount in the future?

last week

Consider for a moment or two.

In 2008 (GFC) the Australian Government gave a guarantee on bank deposits to Australian Financial Institutions to the tune of $600B. It was in the eyes of the Government a necessary initiative to shore up local confidence and protect the nation’s international competitiveness and funded by taxpayers.

Fast forward 10 years and Australia is drought-stricken.

The big four banks in Australia now have a combined market value of approximately $384B. When you consider, 82% (20,500,000) of Australian’s are over the age of 15, the $384B represents a value of $18,731 per person.

As a Friday 3 August 2018 the big 4 banks have donated $3,300,000 to The Big Drought Appeal to help the Australian Farmers.

• Commonwealth Bank - $2M
• ANZ - $1M
• Westpac $200,000
• NAB - $100,000

Using the same parameters as above their donations represents $0.16c per and 0.0008% of the value each person over the age of 15 delivers to the banks.

We’d love to get your thoughts. Are the bank's donations fair and reasonable or should they be donating more?

last week
Lina A.
Lina A.
Melbourne, VIC
2 Likes
0 Followers

I have a question. Why does the Victorian Government resume land and the Commonwealth acquire land? Is it because the constitution states that the states resume land and the Commonwealth acquires it; the Crown is properly represented by the Commonwealth in matters relating to land or the power to hold all land is vested in the States as a residual power after the creation of the Commonwealth? I'd appreciate any clarity on this matter.

2 weeks ago
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