Investing in bitcoins may not be a prudent SMSF investment, especially for those approaching retirement age, where stable income-generating assets and minimal risk of significant capital loss are important. But there may be a role for bitcoin as part of an otherwise appropriate strategy.
ATO
ATO holds Liechtenstein foundation to be resident trust estate
A recent Private Binding Ruling issued by the ATO (PBR 1051209890341) has held that an entity established in Liechtenstein as a Stiftung (aka Foundation) was to be treated for Australian tax purposes as a resident tax estate.
Loan agreements and security go together
All loans, including those from related parties, friends and families, should always be supported by a formal loan agreement and relevant security.
Five good habits to build wealth
According to the Reserve Bank of Australia, the average Australian earns $1,164 per week or $60,528 per year. Then, the average Australian saves 4.70% of their income or $2,844 per annum. Not much.
Why super is still super
It saddens me that people are scared or hesitant to contribute to their superannuation due to the changes coming into effect on the 1st of July this year. It is clear that the majority of the changes to superannuation that come into effect on the 1st of July are directed towards the fortunate few who […]
When is it a viable option to open your own SMSF?
The viability of self-managed superannuation funds has changed, so when does it make sense to have one?
The viability of self-managed superannuation funds has changed
Starting your own self-managed superannuation fund (SMSF) has been a hot topic for over a decade now. In my time as a Financial Planner, I am observing that the age of clients seeking to open their own SMSF is becoming lower. Of all the new SMSF’s established in the last quarter, 29.8% had members between […]
Who the heck is a tax dependant?
It seems such a simple question, and yet the answer continues to perplex clients, advisers, lawyers and the tribunals alike! Why is it such an important issue? Well, most obviously it’s because a “tax dependant” doesn’t need to pay tax on ANY component of a superannuation death benefit if they receive it as a lump […]