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I am writing to you in regards to your last article, 7 super actions to take before the end of the financial year – point 6 – Pensions – have you paid enough?
My wife & I are 52 years old and established our SMSF about four years ago. We had about $300,000.00 and we decided to purchase a unit for about $700,000.00.
We have about $30,000 worth of shares in the fund.
After reading your article I am concerned I may have to sell our property upon retirement to satisfy government regulations that I have to draw down 4% of my SMSF if I’m under 65, 5% if I’m between 65-74 and so on.
Can you shed some light on this issue if your SMSF is mainly comprised of real estate?
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My SMSF is in cash and Australian shares. I would like to also have international shares. Platinum offer this. Which fund of theirs would you recommend, and do you suggest waiting, or dollar cost averaging, over a few weeks/months?
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If I refresh my pension account on 1 July and continue to have segregated assets for the remaining balance of the accumulation account and the new pension account (this will contain a defined share of a property), is there any requirement to have an actuarial certificate?
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Regarding point no.2 in today’s email about “7 Super actions to take…”
It finishes by saying;
To do this, you must be 64 years of age or younger at the start of the financial year – so if you are turning 65 years next financial year, you only have 21 days left to access this rule.
It was my understanding that anyone turning 65 next year has up until the day they turn 65 to access that rule, not the 21 days left in June. Please advise if I am wrong, because my strategy very much depends on it.
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A friend has had positive experiences with the Sentinel Property Group and we are thinking of including it in our SMSF. We would be interested in your comments on this group.
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I have acquired South32 shares through my ownership of BHP BIlliton Shares.
I am trying to understand if these South32 shares are provided as a result of a BHP return of capital, or simply “free”. If they’re “free” has there been a determination of what their cost basis is for capital gains purposes?
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