Based on ATO data, just over 2 million Australians own an investment property. Does this mean everyone should consider if an investment property is appropriate for their wealth strategy?
SMSF
Court case found BDBN held to be invalid
In this case a binding death benefit nomination was held to be invalid because it had not been given to the trustee, that is, not given to all the trustees of the fund. The court found that only one trustee had been given the nomination.
One modest change that affects less than 0.5% of all Australians
With these words the Treasurer (and also the Assistant Treasurer and Minister for Financial Services) advised that the Government will impose a special rate of earnings tax of 30% on earnings on super balances of $3m and above.
Back-door benefits from super not permitted
The rules relating to what a self-managed superannuation fund can and cannot invest in are complex and for the uninitiated appear confusing and alien. But there is a basic logic to them.
Last minute withdrawals before time is called
Is it possible to make a last minute withdrawal before you die and the payment, if made after you have died, still be treated as being tax free? Well Yes – according to a recent private binding ruling from the Commissioner.
Questions over adding children to your SMSF
From 1 July 2022, employers will need to pay super for their employees who are under 18 years old if they work more than 30 hours in a week.
New headaches for NSW property owned by SMSFs
Amendments made last month to the NSW Duties Act could cause material headaches to super funds holding real estate in NSW.
Can an SMSF invest in NFTs?
First it was bitcoins and now it seems that NFTs are gaining traction particularly in mainstream pop culture. You have only to look at the recent Super Bowl which featured an array of NFT projects.