Omniwealth

Are self-managed superannuation funds causing a property bubble?

I recently watched another report on the TV claiming that the ability of self-managed superannuation funds to purchase residential investment property is causing a property bubble in Australia by using Limited Recourse Borrowing Arrangements (LRBAs) (or borrowed money). Let’s look at the facts. LRBAs have grown substantially since 2007 (in 2007 SMSFs were permitted for […]

Can a Court override your right to decide whether or not to receive medical treatment?

An individual can normally consent or refuse any medical treatment. However, this right could be taken away by the Courts in some extreme circumstances. A Court’s ability to override the right of a person who lacks mental capacity to refuse medical treatment in extreme circumstances was highlighted in a NSW Supreme Court case earlier this […]

Omniwealth

Is the Melbourne apartment market reaching saturation point?

A Tale of Two Suburbs suggests this view is misleading: · Docklands has over 10% vacancy rates regularly – clearly in oversupply · Collingwood has 1-2% vacancy rates – supply can’t match demand If you believe what you read in the media, Melbourne is currently suffering from an apartment glut. For those who dived into […]

Can a member still bring forward their non-concessional cap?

The introduction of the new $1.6M cap has changed the game for members wanting to make contributions in advance – so-called ‘bring forward’ contributions. The legislation not only introduces eligibility requirements, it also requires members to meet further criteria at the beginning of each year making up their bring forward period before being able to […]

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Funding a first home deposit with a lump sum contribution

A straight-forward strategy to assist children and grandchildren with a first home deposit by parents, grandparents or other persons is to invest a single lump sum contribution (e.g. $5,000) in an Insurance Bond the investments objective is for long-term accumulation for a dedicated purpose and the Bond vesting for a nominated child at a particular […]

What is a ‘fixed trust’ and why do I need to know?

Whether a trust is a fixed trust or not has significant taxation implications. In relation to tax losses, if the trust is not a fixed trust it will have more stringent tests to satisfy before the tax losses can be claimed as a deduction. In relation to superannuation taxation, if a super fund invests in […]