Superannuation & Investment

216 Likes
401 Followers

News: Westpac, and its subsidiaries Bank of Melbourne, St George Bank, and BankSA, will no longer offer Self-Managed Super Fund loans for new consumer or business lending.

https://www.mortgagebusiness.com.au/breaking-news/12450-westpac-pulls-out-of-smsf-loans

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6 years ago

Oliver T.

Carlton, VIC

8 Likes
0 Followers

Hi

I have quite a bit of equity in a property I purchased through a smsf. Is it possible to refinance the loan, increase the borrowing from 50% to 70% and use the funds as a gift to my kids to help them buy a property?

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6 years ago

VANESSA B.

Reservoir, VIC

0 Likes
0 Followers

Hello

My husband and I have just been advised by centrelink that we are not entitled to receive the aged pension because we have too much assets in the form of money, over the $290,000 allowed savings sum. My question is when we live off our savings and deplete it to the allowed savings mount or less, will we then be entitled to receive the full aged pension?

Thank you
Vanessa

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6 years ago

simplyaskit

Business Advisor

North Sydney, NSW

216 Likes
401 Followers

It is reported 75% of Australians over the age of 65 receive the full or part pension from the Government.

Compulsory superannuation was introduced into Australia in 1992 (26 years ago) for employees to have a percentage (now 9.5%) of their income invested into a superannuation fund to help fund their retirement years. The desired outcome was for people to be self-funded retirees as opposed to being reliant on government pensions.

The superannuation industry is a $2.6 trillion dollar industry with something like $26B of fees paid annually.

If after 26 years, 75% of Aussies over 65% are still reliant on the government it begs the following questions

1. Is the current superannuation policy working?
2. Who is really benefiting from the compulsory superannuation regulations?
3. Should superannuation be compulsory or voluntary?

We’d love to get your thoughts and opinions.

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6 years ago

Fiona B.

Patterson Lakes, VIC

4 Likes
0 Followers

Hello,
My husband and I are recently married and in our mid-50s. We have been discussing setting up an SMSF and joining our super to invest in property and would like to know what steps we need to take, is there a certain percentage of our individual super we can only contribute or can it be all of it?

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6 years ago

Gus W.

Balgowlah, NSW

1 Likes
0 Followers

If I wanted to include derivates as part of an investment strategy what questions do I need to ask my financial planner to know they have the experience and skills?

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6 years ago

Abby W.

Doncaster, VIC

1 Likes
0 Followers

Hi, I am 26 and have been with the same company for 5 years and my super is about $25,000. Is that enough to have a financial planner now or should I wait and just use the superfund through work?

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6 years ago

Stephen G.

Glebe, NSW

1 Likes
0 Followers

Hi,

Just turned 50 and have $450,000 in my super. I want to diversify my investment portfolio and invest some money in a few start-up businesses through crowdfunding. Do I have to set up a SMSF and are there any restrictions on how much I can invest, I have been told no more than 20% of my super balance, is that correct?

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6 years ago

Eliza S.

Williamstown, VIC

1 Likes
0 Followers

Hi,
I am 48, single, no kids and been working for the same company for 15 years. I recently set up my own SMSF with $320,000 and would like to get some advice on what people think is the best long term strategy, purchasing a residential property, buying shares or managed funds. Can you buy an apartment with SMSF or does it have to be house with land?

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6 years ago

Gary L.

Brighton, VIC

1 Likes
0 Followers

Hi,
I want to buy an investment property to help set up my two kids, 17 and 15.
I know they can’t borrow money and the loan will be in my name but what’s the best way to set this up.
Can they be on the title or will it have to be a private agreement and what are the CGT and stamp duty implications should they end up owning the property over the next 10 – 15 years?

View responses or answer (3)

6 years ago

Jerry D.

Clovelly, NSW

7 Likes
3 Followers

What would be considered an ideal mix between shares and property when developing an investment portfolio?

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6 years ago

Julie Y.

Kangaroo Point, QLD

1 Likes
0 Followers

I am looking at opening an SMSF but I am not experienced in this area. What should I be careful of when approaching a Financial Planner (ie. questions I should ask), amid the media coverage of the Royal Commission?
I am not interested in taking on products that the Financial Planner might offer. I want financial investment advice and I also want the Financial Planner to manage the SMSF as I have compliance concerns if I were to do it, myself. Thank you in advance.

View responses or answer (6)

6 years ago

Will M.

Burwood, NSW

0 Likes
0 Followers

Hi, I purchased an investment property off the plan in 2015 and now have to sell it and it has been sold for $50,000 less than I paid. The property was in my name so if we settle on the sale before 30 June is it possible to offset the loss against my personal income for the year?

View responses or answer (2)

6 years ago

Matt S.

Manly, NSW

1 Likes
0 Followers

Hello
My business has been operating for 10 months and we have just secured a couple of new contracts which means I need 2 new staff. As the business has just started to grow I am finding it difficult to get the finance needed to take advantage of the new contracts. Is it possible for me to invest some of my super into the business? I have $220,000 in super and only need about $40,000

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6 years ago

Colin P.

Northbridge, NSW

8 Likes
0 Followers

I am 52 still working can use my part superannuation to pay down my mortgage ?

View responses or answer (2)

6 years ago

Melissa W.

Elwood, VIC

3 Likes
0 Followers

If we do some minor renovations on an investment property - about $40,000, how much of it tax deductible?

View responses or answer (3)

6 years ago

simplyaskit

Business Advisor

North Sydney, NSW

216 Likes
401 Followers

What do people think of the 2018 Federal Budget?

What does it mean for Small Business Australia?

Who wins, who misses out?

View responses or answer (2)

6 years ago

Phillip K.

Elsternwick, VIC

4 Likes
0 Followers

What do people recommend as a starting point to set up a SMSF... I understand there is a fair bit of work involved so would $200,000 be worth it?

View responses or answer (4)

6 years ago

Paul R.

Orange, NSW

3 Likes
0 Followers

Hi , I'm looking for some advice on the following.
I'm 50 , working full time , married. We have combined super of 330k , 200k savings , A mortgage of 250k. The house is valued at 550k.
My goal is to pay of my home and live comfortably into retirement. Should I put the 200k onto the mortgage , or into my super, or invest it to gain more growth?
On top of that Im looking at having a career break for 12 months.This would be unpaid.Any help would be great.

View responses or answer (3)

6 years ago

Rick B.

Springvale, VIC

6 Likes
0 Followers

I would like to ask if there is a way to keep track of how our super performs including the fees online … like we can with our home loan?

View responses or answer (4)

6 years ago

News: Westpac, and its subsidiaries Bank of Melbourne, St George Bank, and BankSA, will no longer offer Self-Managed Super Fund loans for new consumer or business lending.https://www.mortgagebusiness.com.au/breaking-news/12450-westpac-pulls-out-of-smsf-loans

HiI have quite a bit of equity in a property I purchased through a smsf. Is it possible to refinance the loan, increase the borrowing from 50% to 70% and use the funds as a gift to my kids to help them buy a property?

If I wanted to include derivates as part of an investment strategy what questions do I need to ask my financial planner to know they have the experience and skills?

Hi, I am 26 and have been with the same company for 5 years and my super is about $25,000. Is that enough to have a financial planner now or should I wait and just use the superfund through work?

What would be considered an ideal mix between shares and property when developing an investment portfolio?

Hi, I purchased an investment property off the plan in 2015 and now have to sell it and it has been sold for $50,000 less than I paid. The property was in my name so if we settle on the sale before 30 June is it possible to offset the loss against my personal income for the year?

I am 52 still working can use my part superannuation to pay down my mortgage ?

If we do some minor renovations on an investment property - about $40,000, how much of it tax deductible?

What do people think of the 2018 Federal Budget?What does it mean for Small Business Australia?Who wins, who misses out?

What do people recommend as a starting point to set up a SMSF... I understand there is a fair bit of work involved so would $200,000 be worth it?

I would like to ask if there is a way to keep track of how our super performs including the fees online … like we can with our home loan?

News: Westpac, and its subsidiaries Bank of Melbourne, St George Bank, and BankSA, will no longer offer Self-Managed Super Fund loans for new consumer or business lending.

https://www.mortgagebusiness.com.au/breaking-news/12450-westpac-pulls-out-of-smsf-loans

Hi

I have quite a bit of equity in a property I purchased through a smsf. Is it possible to refinance the loan, increase the borrowing from 50% to 70% and use the funds as a gift to my kids to help them buy a property?

What do people think of the 2018 Federal Budget?

What does it mean for Small Business Australia?

Who wins, who misses out?