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Offline amgsl55

  • Tooth hurty

  • Joined: Feb 2011

  • Location: Adelaide
It worked for you, doesn't mean it works for everyone. Have you heard of a Wrap account?

nope, and Im sure there are many other finacial products out there that I have not heard of.  It's quite obvious that you are in the finance profession and you are a lot more conversant with financial products than most are.  But I'm sure you know that many need guidance from professionals, few don't.  Just like investing in HVN, it has served me well, despite brokers reports recommending it be sold.

What I do has served me very well over the years, I have little reason to change my strategies ( except for allowing them to be dynamic enough to change with changing financial climates)



Offline 360c

  • 300kph+ club
  • Drug Dealer

  • Joined: Apr 2006

  • Drives: Purple People Eater
You can buy art with a SMSF but you cannot display it

what the hell are you going to do with a car in the SMSF?

That was a long time ago when rules were not so strict. There are people today who do very well out of investing SMSF money in classic cars, despite the rules. It gets much harder in 2016.



Offline tdc911


  • Joined: Apr 2006

  • Location:
  • Drives:
There is no way that a managed fund can give you the same degree of flexibility and freedom to invest that a SMSF can. Sure you have a lot more choice than you used to have in the past; but it's a long way off running your own fund. There are many examples I could use; but a common one would be can I put my business freehold property in my super? Yes in a SMSF, no in any managed fund that I am aware of.

I agree that SMSF's are not for everyone. I would probably go as far as saying they are not for most people because they are not financially savvy enough to outperform the average managed fund. If you are however, you would be nuts to go with a managed fund.

I didn't mean greater freedom than a SMSF, I meant in comparison to a typical managed super fund.
I actually received an email today linking me to this article:
http://www.smsfadviseronline.com.au/columns/item/233-the-seven-sins-of-smsf-advice?utm_source=SMSFAdviser&utm_campaign=SMSFAdviser_Bulletin28_08_2014&utm_medium=email#comment-3510



Offline TomE


  • Joined: Aug 2010

  • Location: ADL

what the hell are you going to do with a car in the SMSF?

Drive in down Rundle St and get spotted by Facebook kids...
"There's too many self-Indulgent wieners in this city with too much bloody money! Now, if I was driving a 1967 275 GTB four-cam... "



Offline looney


  • Joined: Mar 2007

  • Drives: VW Beetle
That was a long time ago when rules were not so strict. There are people today who do very well out of investing SMSF money in classic cars, despite the rules. It gets much harder in 2016.

what happens in 2016 Scott?






Offline dkabab

with all this super talk, i decided to get my arse into gear and consolidate the 3 funds i have.....

what a head ache that is. because i don't have the details of one of the funds, i had to register on the ato website to find all details etc... I'm still not 100% registered as it kept sending me round in circles. i'm pretty savvy with computers and websites and still can't figure out what the hell to do... who makes these stupid websites????

(hopefully not über)



Offline RS


  • Joined: Feb 2008

  • Drives: AMG
  • Location: Sydney
Anyone know if there is a minimum notice period for a sub leased flat share?

Not a named tenant so not sure if the 28 days is applicable.
Convict by heritage, Guilty by Choice



Offline 360c

  • 300kph+ club
  • Drug Dealer

  • Joined: Apr 2006

  • Drives: Purple People Eater
LATEST SMSF STATISTICS RELEASED FROM THE ATO

SMSF average balance hits $1m for the first time

Property accounts for most SMSF assets under limited recourse borrowing.
by Joanna Mather

The number of self-managed super funds has grown by 27 per cent over the past five years and average balances have hit $1 million for the first time.

The latest Tax Office statistics released on Wednesday show SMSFs returned 9.8 per cent on assets in fiscal 2014, the fifth consecutive year of positive returns.

"For the first time the average assets of SMSFs grew to over $1 million in 2014, a growth of 23 per cent over five years," an ATO assistant commissioner, Kasey Macfarlane, said

The data shows do it yourself super funds account for 99.5 per cent of all superannuation funds and 29 per cent of the $2 trillion in total super assets, or $590 billion.

The ATO data shows a surge in funds moving from the accumulation phase to to the tax-free pension phase, an increase of 8 per cent in the last five years.

"This shift is reflected by the growth of 32 per cent in SMSF members receiving benefits payments from their fund over the same five year period. The 2013-14 financial year also saw a rise in total benefit payments to over $30 billion."

The average assets per small fund is $1,066,080 and median assets are $602,629. Nearly 31 per cent of SMSFs now have assets of $1 million or over, including 10.8 per cent with assets between $2 million to $5 million; 2.1 per cent in the $5 million to $10 million range and 0.5 per cent with a balance over $10 million.

The high balances have attracted criticism that the generous tax breaks for superannuation are being used to build family wealth rather save for retirement.

BORROWINGS RISE

The number of small funds in debt also increased from from 2.3 per cent of funds in 2010 to 6.7 per cent of funds in 2014.

Borrowings were equal to 2.3 per cent of total SMSF assets as compared to 1.9 per cent at June 2013, and the value of assets under limited recourse borrowing has increased, from $15.6 billion to $17.8 billion, an upward revision of $2.2 billion.

"To improve the accuracy of reporting of assets held under LRBAs, for the September 2015 quarter, the ATO has refined the methodology used to estimate growth" in these loans.

The value of assets held by under limited recourse as a proportion of total SMSF assets remained relatively low iat 2.7 per cent.

AFR



Offline looney


  • Joined: Mar 2007

  • Drives: VW Beetle
LATEST SMSF STATISTICS RELEASED FROM THE ATO

SMSF average balance hits $1m for the first time

The data shows do it yourself super funds account for 99.5 per cent of all superannuation funds


that cant be right?



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