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Hi
I am 57 with a split of assets in and out of super. The investments outside super are mostly in my wifes name as she does not work and with franking etc pays no tax, in fact gets a refund each year.
It seems pointless putting these assets into super as the 15% tax will kick in plus the threat of future govt decisions over super is always a disincentive for me.
It seems absolutely everybody is sold on maximising super but my scepticism tells me to have interests split in and out of super.
Any thoughts on this strategy?
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Hi Paul
I currently have some Sigma Pharmaceutical and looking to add to them.
Thanks.
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We used to be able to make non concessional contribution by withdrawing amounts from the fund and re-contributing the same amount – is this still allowed?
Thank you.
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Hello Tony,
I have a caravan park and I have 8 cabins in my super fund that are teneted to my caravan park. My question is, if I go into pension mode, the income from the cabins is not taxed as I understand, but what about the GST component?
Currently I claim the 10% GST from the payments to super and I then pay the ATO the 10% for my super fund.
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Thanks Tony for your explanation to the changes to the non concessional contributions. Can you please clarify the following:
Prior to June 30th 2014 will be the final year to finish the “bring forward $450,000 contribution” which my husband commenced during the 2012 financial. He will contribute the balance allowable to the total of $450,000 prior to June 30th 2014. Does this mean that he can commence another “bring forward of $540,000” commencing July 1 2014 for a further 3 years as he does not turn 65 until January 2017?
In addition I have not used the “bring forward rule” yet but plan to do so. Instead of starting it this side of June 30th 2014. I assume I am best to wait until July 1st, 2014 so I can contribute the $540,000 and not be restricted to $450,000? I turn 65 in February 2018 which means I can contribute a total of $540,000 over the 3 year period commencing July 1 2014, but I think I could also commence the start of the $450,000 now and then still have a remaining one year before turning 65 in which I could then contribute another $180,000 if I choose to which compares a total of $540,000 to $630,000?
If you are only one year out from turning 65 and you want to contribute, can you only contribute $180,000 of the $540,000?
This sounds a rather in depth scenario but I hope you understand?
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Are hybrids a good investment, and how safe are they for your self managed super fund, as they pay a better interest rate than term deposits.
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