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View Poll Results: Should we buy IP in our name or in the name of the SMSF
Our name as we can sell the property at any time and enjoy the growth 16 76.19%
Our name as we can live in the investment property if we wish 4 19.05%
SMSF as the super fund can be repaid via deductible contributions 6 28.57%
SMSF name as the super fund pays less tax then us 3 14.29%
Multiple Choice Poll. Voters: 21. You may not vote on this poll

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  #211  
Old 17-02-2010, 04:01 PM
wylie wylie is offline
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Originally Posted by jaycee View Post
Oh, I see, you're just being a smart **** not actually adding to the debate and discussion....
Not at all. He made up figures that were wrong. He could have asked me for the correct ones, but didn't.

P.S. Is joanmc a smart **** too for asking for an answer to her question, or is it just me?
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  #212  
Old 17-02-2010, 04:25 PM
bene313 bene313 is offline
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So using his strategy - how can I retire in my 40s? I am seriously interested to know this.
I think you know the answer already. Some passive cashflow outside of super is required.
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  #213  
Old 17-02-2010, 05:53 PM
joanmc joanmc is offline
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Originally Posted by wylie View Post
Not at all. He made up figures that were wrong. He could have asked me for the correct ones, but didn't.

P.S. Is joanmc a smart **** too for asking for an answer to her question, or is it just me?
yes I am!!!! lol

I have asked and asked different people in the super industry and now I am getting really curious as to how manoj does it! no one has been able to tell me. So if it is a legal and valid strategy to release your super before preservation age I am all ears. I seriously want to know how he is doing it!
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  #214  
Old 17-02-2010, 06:18 PM
wylie wylie is offline
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Originally Posted by joanmc View Post
yes I am!!!! lol

I have asked and asked different people in the super industry and now I am getting really curious as to how manoj does it! no one has been able to tell me. So if it is a legal and valid strategy to release your super before preservation age I am all ears. I seriously want to know how he is doing it!
Don't hold your breath .
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  #215  
Old 18-02-2010, 07:28 PM
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Originally Posted by wylie View Post
Not at all. He made up figures that were wrong. He could have asked me for the correct ones, but didn't.

P.S. Is joanmc a smart **** too for asking for an answer to her question, or is it just me?
You know the answer to your own question - you have the figures and can work out if you made / lost money... So you can't be asking the question in order to find the answer out

Joan is still waiting for a valid answer, manoj did imply (maybe more than imply) that it worked for all and sundry, but hasnt shoed how somoene in joan's postion could.
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  #216  
Old 18-02-2010, 09:50 PM
wylie wylie is offline
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I don't know the answer actually. I have been too busy to do the maths.

I think we will just have to agree to disagree on this one Jaycee.

And manoj seems to have "left the building".
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  #217  
Old 20-02-2010, 10:21 PM
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Originally Posted by joanmc View Post
yes I am!!!! lol

I have asked and asked different people in the super industry and now I am getting really curious as to how manoj does it! no one has been able to tell me. So if it is a legal and valid strategy to release your super before preservation age I am all ears. I seriously want to know how he is doing it!
I think I just found the answer to this after reading a technical investment publication called the Saturday Herald-Sun in Melbourne today on page 76... !

An SMSF can do a related party loan to a company or trust that is connected with the member, but not to the member directly.

It can be for up to 5% of the funds assets, must be on commercial terms/interest rates, and for genuine investment reasons.

How's that... ?

I think I might be able to get about 2k out of my planned new SMSF now!!!
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  #218  
Old 21-02-2010, 06:57 AM
joanmc joanmc is offline
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hmmm, that's interesting. I don't know that I would have had enough in my super though to make it worth while up to this point though. And I would be wanting to live off the money if I am trying to retire not invest it. maybe with some creative bookwork? lol.
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  #219  
Old 22-02-2010, 08:51 AM
Rolf Latham Rolf Latham is offline
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Not that Im a big fan of industry funds but the below article is some form of balance to the SMSF is the "solve all"

Global financial services group Mercer has told the Cooper Review that the rules around the operation of self-managed superannuation funds (SMSFs) need to be strengthened, including ensuring they are appropriate for particular consumers..

Full story here

http://www.financialservicesonline.c...=2506&sid=3113

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  #220  
Old 22-02-2010, 08:57 AM
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Dont know if this is relevant to the argument anymore, but I accessed (Cleaned out) my super back in the '90s after many years in the military.

It was actually quite simple. I produced a one way ticket out of Oz, a letter of employment offer from overseas, Proof of having sold property (real estate, car, tv etc). All relatively easy to produce.

Of course I was single with no family then so all these things didn't cause me any angst. In the end I didn't even leave the country, just forfeited a small admin fee to get my Airfare refunded. If there had been any questions asked about my non-departure, my plan was to play the "my circumstances have changed" card. My guess is, that its probably not that easy now.

Sure, there were a couple of porky pies in there. Was it legal? Probably not, but I didn't hurt anyone, and it gave me the kick start in RE Investment that I needed. And I now have built my super up again to quite a healthy figure through my current job. Naturally I'd like Real Estate to me my REAL Retirement fund, but the Super is there to keep me sane.
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Last edited by Pedro61; 22-02-2010 at 10:09 AM.
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