I’m going to just explain a bit of a personal story about this – it was a couple of grand a year we saved by not spending so much on coffees.
READ MOREThe Rules For Lending Money With Your SMSF
The general rule is that you can actually loan money with your SMSF. This means a loan to another person is considered an investment. What you need to do is make sure you’re charging an appropriate interest rate, appropriate term and the appropriate security for that loan as well.
READ MOREWhy You Should Never Set Up An SMSF Without A Corporate Trustee
We will never, ever, ever, ever, ever set up a self-managed super fund without a corporate trustee.
READ MOREWhat You Need To Realise Before Setting Up An SMSF
A bit of a warning to people who are considering setting up an SMSF. The “SM” in “SMSF” stands for “self-managed”. So you actually have to be actively engaged in making decisions about what you invest in, about doing the documentation and the compliance side of things, and making sure you’re doing the steps needed […]
READ MOREIs It Hard To Get Finance In An SMSF For Share Or Property Purchase?
I don’t think the bank is going to lend you for a share purchase (margin lending in Super). But, you can under certain rules, fund a share purchase with outside of Super money.
READ MOREHow To Get Your Business Ready for After JobKeeper
For some businesses, the end of JobKeeper 1.0 might have been 27 October 2020. But if you are eligible for JobKeeper 2.0 going forward, then your endpoint for JobKeeper is potentially from January 2021 onwards or from April 2021 onwards.
READ MORECan I contribute more money to my SMSF than my $25,000 annual contribution?
When Does It Make Sense To Set Up An SMSF?
The most common question I get when someone’s exploring self-managed super is, when does it make sense to set one up?
READ MOREGrow Your Wealth In A Legal Tax “Haven”
Tax Free Capital Gains Tax or CGT Let’s say you run a business and you want to buy the premises. The premises is worth $1,000,000. You’re 40 years old. You might fund that mostly from the bank, around $600,000, $700,000 and the rest from your SMSF. Over the next 20 years through to retirement, you […]
READ MOREFBT Red Tape Reduction Explained
FBT is a bit of a pain to deal with if your business provides benefits to employees, that are not tax deductible in general.
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