W
WebBoard
Guest
From: Carlo Chiodo
Looks like my voluntary assistance was rudely dismissed by certain incompetents on this forum who had nothing better to do than make stupid genralisations because of their bad experiences.
Before you take these incompetents' DANGEROUS advice and some others and just DISCOUNT super maybe to your detriment do your research, find out the loopholes, check out your personal situation.
Im not one purporting that making voluntray contributions is enough and this will save your life. NO WAY. But there are a helluva lot of strategies with super, tax mnimiation or other.
For example, consider ONE of the benefits of a SMSF for a small business owner that owns their own business property.
If you have a certain amount of funds in your super that you have accumulated over ur life, you can actually buy the business property from yourself WITHOUT paying Capital Gains tax on that premises (up to a$500G lifetime limit). The other benefit of this is that it lets you TAKE OUT those LIQUID funds from your SMSF to replace with your property. Theres even more you can do here but I wont go into that. For example, you dont even need the market value of the property in the funds due to the ability to do an inspecie transfer of CGT exempt. The property now has a new base value for CGT at today's mkt value.
There is alot more with this strategy but i am not going to go into it (ie possibility of never paying CGT on this property).
Superfunds can be used to purchase residential property as well (though not off yourself, although...). Surely some of you out there are 55 and are on this forum as you are interested in property. If you have the money in ur superfund, why not buy it through there. With careful planning, you wont even need to pay CGT on those properties via an SMSF because they can be transferred to fund an allocated (or complying) pension. Furthr your rent will only be taxed at 15%. The only drawback is you cannot employ negative gearing within the super fund.
So as per my previous post which some people so rudely discounted, I would not discount super completely as part of your overall investment strategy. Sure its NOT the greatest of investments, but it could FORM part of your overall investment strategy.
I personally dont have a superannuation fund, it does not cater for my current situation. However Im sure mine is different from most others out there.
Anyway thats my two bobs worth, again. For the record I am a legal supernannuation consultant to a large organisation and willing to answer any queries you may have on superannuation, helps keep me up to date if I have people discussing it with me.
For the record, there are now OVER 210,000 SMSFs out there, with an average account balance of over $300,000. These are professional investors who realise the benefits of having part of their portfolio in superannuation.
Feel free to email me at [email protected]
Regards
Carlo
Looks like my voluntary assistance was rudely dismissed by certain incompetents on this forum who had nothing better to do than make stupid genralisations because of their bad experiences.
Before you take these incompetents' DANGEROUS advice and some others and just DISCOUNT super maybe to your detriment do your research, find out the loopholes, check out your personal situation.
Im not one purporting that making voluntray contributions is enough and this will save your life. NO WAY. But there are a helluva lot of strategies with super, tax mnimiation or other.
For example, consider ONE of the benefits of a SMSF for a small business owner that owns their own business property.
If you have a certain amount of funds in your super that you have accumulated over ur life, you can actually buy the business property from yourself WITHOUT paying Capital Gains tax on that premises (up to a$500G lifetime limit). The other benefit of this is that it lets you TAKE OUT those LIQUID funds from your SMSF to replace with your property. Theres even more you can do here but I wont go into that. For example, you dont even need the market value of the property in the funds due to the ability to do an inspecie transfer of CGT exempt. The property now has a new base value for CGT at today's mkt value.
There is alot more with this strategy but i am not going to go into it (ie possibility of never paying CGT on this property).
Superfunds can be used to purchase residential property as well (though not off yourself, although...). Surely some of you out there are 55 and are on this forum as you are interested in property. If you have the money in ur superfund, why not buy it through there. With careful planning, you wont even need to pay CGT on those properties via an SMSF because they can be transferred to fund an allocated (or complying) pension. Furthr your rent will only be taxed at 15%. The only drawback is you cannot employ negative gearing within the super fund.
So as per my previous post which some people so rudely discounted, I would not discount super completely as part of your overall investment strategy. Sure its NOT the greatest of investments, but it could FORM part of your overall investment strategy.
I personally dont have a superannuation fund, it does not cater for my current situation. However Im sure mine is different from most others out there.
Anyway thats my two bobs worth, again. For the record I am a legal supernannuation consultant to a large organisation and willing to answer any queries you may have on superannuation, helps keep me up to date if I have people discussing it with me.
For the record, there are now OVER 210,000 SMSFs out there, with an average account balance of over $300,000. These are professional investors who realise the benefits of having part of their portfolio in superannuation.
Feel free to email me at [email protected]
Regards
Carlo
Last edited by a moderator: