Note: We regularly update this article with the latest data on self-managed superannuation funds (SMSFs) released by the Australian Taxation Office. This article contains the latest data available up to March 2013 (for data as at December 2012). Each quarter the ATO releases self-managed super … [Read more...]
Q: I’m an expat Australian, and I have been living in Singapore for quite a few years. I am 57 and I want to access my superannuation to buy a property. Is that possible? I have no idea if I will retire back in Australia or stay here, but my view is that if I do retire back in Australia, I will … [Read more...]
The Australian Tax Office is worried about SMSF trustees and property investing. Although the ATO doesn’t express it in this way, the SMSF regulator is particularly worried about the sheer weight of money controlled by SMSF trustees, and a bit edgy that this financially powerful group of people … [Read more...]
Q: I own a unit as an investment property. I would like to keep this unit as long as possible. The unit is a safe income stream and a safe haven against market uncertainty. However, if I have to sell it later, I won’t be able to put the money into my SMSF because of the work test (as it is … [Read more...]
Q: I am interested in setting up a self-managed fund. I would like to know more about the rules for purchasing property in a super fund, and whether it is possible to use borrowings to do so. Trish’s response: A self-managed (DIY) super fund can invest in all types of property, including … [Read more...]
Q: My wife and I purchased a licensed post office and freehold from Australia Post in the 1990s. In addition to the licence, we acquired one title with one building (part is leased to a commercial tenant and part we use to run the post office. A freestanding shop was added in 2000. The value of … [Read more...]
Q: I’m aged 69 and I will retire in December 2012. Am I entitled to make a deposit into my super fund and receive the Government co-contribution for the 2012/2013 year? A: If an individual satisfies the age test, the work test and the income test relating to the co-contribution, then the … [Read more...]
Can you feel it? The warm breeze is the collective sigh of relief within the financial services industries that super fund returns are in the black – … well, okay, for most super funds, but not all funds. The median growth fund delivered a return of 0.5% for the 2011/2012 year (compared with … [Read more...]
Q: The investment return on my super fund account doesn’t seem to compare with the investment returns that I read about in the newspapers. Are the newspapers wrong, or am I in a rubbish super fund? A: Every month or two (or more recently, every week it seems) the media reports the … [Read more...]
Q. We understand that SMSFs cannot purchase property from members. What we want to know is whether members can purchase property owned by the SMSF, providing fair market valuation is paid for this? Does the valuation need to be established through a valuation, or is an appraisal sufficient? Our SMSF … [Read more...]
Q: Since we can now use super to purchase real estate, is this also true for property in the United States? Can you provide me with some guidance on how I could find out the process and correct entities to establish in order to do this? Thanks. A: Before I answer your question, I need to clarify … [Read more...]
Q: If my self-managed super fund (SMSF) owns an investment property, and the SMSF later sells the property, what is the amount of capital gain tax payable by the SMSF? A: Before I respond, please note that anyone considering the tax implications of a strategy or investment decision should speak … [Read more...]
Q: I’ve just finished reading DIY Super for Dummies and found it really helpful. What interested me was the borrowing options for SMSFs. We already own a property in our fund and are looking at an instalment arrangement for financing our next purchase. In the first edition of your book you mention … [Read more...]
Q: A SMSF purchases a property in joint names - between the two trustees as joint tenants and the SMSF (tenants in common). The conveyancing document says the title statements show the ownership as 60% SMSF and the Trustees 40 % . However the trustees have used 79% of the SMSF funds to purchase the … [Read more...]
Q: Can I sell my managed funds within my super fund and buy a rental property for the same amount without paying any taxes? We are an information site rather than an advisory site, and the answer to your question depends on the type of managed fund interests that you hold and how any capital … [Read more...]
