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Financial Planning

Latest Questions

Daryl M.
Daryl M.
Lilydale, VIC
3 Likes
0 Followers
Q:

We have a house that is worth approx $800,000 and we have just purchased a property in Queensland for $420,000. We would like to move up there but are unsure whether to rent out our current home or sell it? If we do sell it can we put any surplus funds into our super without it being taxed? We are about to hit our 50's and haven't got much super. We need to know what our options are.


Any advice would be helpful

6 days ago
Q:

My Dad recently passed away leaving my Mum as sole Beneficiary. There was some money in a joint Bank account and some more in Dad's own name.
My Mum is already in a Nursing Home and suffering from Dementia. Will the money transferring from Dad's single name to Mum require a re-assessment of Mum's pension and whose responsibility is it to commence any necessary review ?
Also if Mum was to gift some of the money to siblings, what limits apply without impacting her pension.
Thanks.

last week
vivienne s.
vivienne s.
Gayndah, QLD
0 Likes
0 Followers
Q:

. I have been made an offer to Rent my property with a contract to buy within 5 years. I would like some details of things that I need to look out for and advice on how Aged pension (in 2020) will be affected. What tax if any would be on the rent they pay me.? What happens if they pull out of the contract a couple years down the track.? Is it classed as income even though they are buying it.?

last week
Marie G.
Marie G.
Mont Albert, VIC
0 Likes
0 Followers
Q:

I have a margin loan that I've let the interest owed on accumulate. The interest accrued offsets my tax. I'm now nearing retirement (within 2 years) and wondering if i should start paying off the interest now and close it by retirement stage. The loan was used to purchase shares and i'd like to keep the shares if possible. Should i pay it off in the next 2 years or wait until post retirement?

2 weeks ago
Sheree J.
Sheree J.
Healesville, VIC
1 Likes
0 Followers
Q:

Hi
My husband is 63 and I am 61. We are both retired, my husband at 54/11 with a defined benefit superannuation pension. I retired at 59 due to if health. My portion of superannuation is approx. $100,000 and out financial advisor is suggestion we invest in La Trobe direct mortgage fund. I would then receive any interest earned paid to me each month.

What are your thoughts on this?

Sheree C
Melbourne.

2 weeks ago
josie j.
josie j.
Aspendale, VIC
1 Likes
0 Followers
Q:

Im 30 and work in a secure full time permanent role as a HR Manager.
I have $60,000 deposit and have found a place that ticks all my boxes for $520,000
My monthly salary is $5377
Repayments would be $514 a week approx
I have no other depts or loans.
Should I take the plunge and buy or keep saving.

The place is two bedroom, close to a train station 300 metres from the beach in Aspendale Vic.

Are those repayments sustainable for a person on a single income?

2 weeks ago
Rob S.
Rob S.
Wyong, NSW
0 Likes
0 Followers
Q:

Mum is 74 years old,living alone at home, but needs to go into a high care nursing home. She only receives a minor part pension as she has approximately $400,000 in a super based managed fund.
She was told that when she goes into the nursing home she will loose all pension/care benefits as her home will be treated as an asset in full and she will have to pay maximum fees. Can she sell up and gift some funds to her children? Centerlink said 5 yrs still her asset, but what about after?re-assess?

3 weeks ago
Penny S.
Penny S.
Bellamack, NT
0 Likes
0 Followers
Q:

I currently have my superannuation with REST. I am not working at the moment and am on Centrelink benefits. I was looking at early release of super due to severe financial hardship as I qualify, however REST do not grant access due to this & I do not qualify for compassionate hardship.

I am wondering is it possible to open a new super fund (one that does allow early release of super due to financial hardship), transfer some of my super from REST into that & then apply for early release?

last month
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