SMSF PROS & CONS

SMSF PROS & CONS Since 1 July 2021, SMSFs have been able to have up to six members. We have since received considerable interest from SMSFs wishing to add members, particularly adult children. It is important, however, that SMSF trustees need to be aware of the risks.  Our experience has shown that once a client […]

Five important issues to consider before getting married

Before your big day, much of the financial talk may have been around budgeting for your wedding and planning your honeymoon. But while not nearly as exciting, there’s another vital part of your new partnership that should be considered: your future finances. Finances can be one of the biggest sources of stress and tension in […]

Superannuation death benefits – Review succession plans

The changes to superannuation announced in the 2016 Federal Budget have been passed by Parliament with the majority of reforms taking effect on 1 July 2017. One significant change relates to the introduction of the transfer balance cap (TBC), now at $1.7 million and the limit this imposes on the amount of capital that an […]

Some Sound Advice about Succession Planning. 

Both small businesses and agricultural succession can ask these questions. Succession Planning?  7 steps to make you stop and think No matter how big or small your business is, you need talented people ready to take over key responsibilities when the present ones leave. Even the most successful companies can falter if they don’t have […]

Upsize your retirement income with downsizer contributions

You might be eligible to make additional contributions to super up to $300,000 per person from the proceeds of the sale of your home.  The newly legislated ‘downsizer contribution’ rules, remove some of the barriers that prevent you being able to contribute extra money to super at the age of 65 or over.  Could you […]

SMSF The Myth vs The Truth

MYTH:  The investment strategy must have asset allocation ranges.  TRUTH:  There is no legal requirement to do this – asset allocation ranges are often just used as a convenient way to express a plan that involves investing in several different asset classes.  MYTH:  A self managed fund can only have a single investment approach and […]

THE BENEFITS OF BLOODLINE TRUST

Case study 1 Inheritance partially lost in equitable distribution settlement Frank and Patricia have a daughter, Mel, who marries Harry. While Harry is attractive and likeable, he has difficulty holding a job, and he is a poor money manager. Harry also likes to spend money lavishly, mostly on himself, rather than on Mel and the […]