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Recent DIY Super Questions

Buying an ATM

Can you advise whether it is legal according to ATO rules for me to invest a small proportion of my SMSF money into the purchase of an ATM? Please note that I am not asking for your advice as to whether this is a good investment or notI (I have done good research). I would just like to know the rules.

 


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How much can I contribute?

Please let me know how much me, a 65 year old who continues to work more than 80 hours a month, can contribute to my Super Fund? I have not made any contributions for 3 years.


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Can I live in a property which my SMSF owns?

We want to buy an investment property in an area we like from our SMSF funds and rent it out. After we retire in a couple of years time we would like to move into the property after selling our family home which we own outright.

Can we do this within the rules of the SMSF?


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Transferring shares to my SMSF

I want to transfer shares from my personal account into my SMSF as part of my 150k non-concessional contributions for this tax year. (a) Should I wait until after Swannie’s budget to do so, and (b) are there any restrictions I should be aware of? My SMSF is worth about 600k at present and I’d like to transfer about 100-120k worth of shares.


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Question of the week – views on WAM and AUI

What are your views on WAM and Australian United Investment Company (AUI)?

We’re in pension phase with an SMSF and have 50% of our funds in equities. Of this investment, we have 50% in LICs and the other 50% in good dividend paying stocks. The only downside with LICs is that their dividend distribution does not reflect the dividend yields of their underlying stocks and is only moderate. We sold some of AFIC, AUI and Argo to invest in higher dividend paying stocks including WAM. What are your views?

 

 


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