Q. Is it worth to put our coin collection into our Self-Managed Super Fund (SMSF)?

Q. My wife has built a really impressive coin collection in the recent year and the idea has always been to build further and put the collection into our Self-Managed Super fund (SMSF). I believe the rules have become very severe in this area and it may not be worth it, what do you think? […]

Q. Super vs. Insurance Bonds: is it time to change your retirement vehicle?

Q. My wife and I have used Superannuation as our primary savings vehicle for Retirement. Due to the value of our accumulated Superannuation, apart from Employer contributions, we cannot put any more into Super. Should I consider Insurance Bonds? A. From 1 July 2017, individuals who have in excess of $1,600,000 in Superannuation are ineligible […]

What is the difference between owning insurance inside and outside of Superannuation?

Q . I have read that I should always hold my life insurance inside Superannuation.  Why is this and what is the difference between owning insurance inside and outside of Super? I have Death and Total Permanent Disability insurance provided by my Employer via my Superannuation fund.  I am 38 single with no kids.  On […]

Q. With the new financial year, my husband and I would like to take stock and focus on planning for the financial year ahead. How should we approach this?

Q. With the new financial year, my husband and I would like to take stock and focus on planning for the financial year ahead.  He is 52 and I am 50.  His income is $170,000.  I have returned to work 3 days a week and my part time income is $36,000.  We have two children; […]

Q. How will the proposed First Home Super Saver Scheme announced in the 2017 Federal Budget work?

Q. My husband and I are saving to buy our first home.  Can you please explain how the proposed First Home Super Saver Scheme announced in the 2017 Federal Budget will work and what we need to do to take advantage of the incentive? A. From 1 July 2018, first home buyers will be able […]

Q. As I exceed the $1.6 million dollar transfer balance cap, what do I need to do before 1 July 2017?

Q. I have a Self-Managed Super fund (SMSF) with my wife.  The assets of the fund are approximately $2.1 million. My wife’s super account balance is around $420,000 and my pension balance is $1.68 million. I am 64 and my wife is 61 and we continue to work.  As I exceed the $1.6 million dollar […]

Can I contribute into my Super the proceeds of selling a property I inherited from my mother?

Q. I am about to inherit a unit that was bought pre 1985 and was thinking of selling it and putting a one-off payment of $540,000 into super before 30 June 2017. Would I have to pay capital gains tax if the property was bought by my mother and it is transferred to my name […]

Can a member of a couple have a pension account of more than $1.6 million as long as their total combined superannuation does not exceed $3.2 million?

Q. I read that a couple can have a combined Superannuation balance of up to $3.2 million after 1 July 2017.  If one member of a couple has a pension account of say, $1 million and the other has a pension account of $2.2 million, does it therefore follow that the member with the larger […]

Super Trust Deed Changes

Q: The trust deed for my Self-Managed Superannuation Fund (SMSF) has not been updated since I opened the fund in March 2008. With the super changes coming into effect on 1 July 2017, do I need to update it? A: If you have not updated the Trust Deed (“the deed”) since the fund was established, […]

Q. My wife and I are both 65 years old. Can I gift my $90,000 Super to her?

Q. My wife and I are both 65 years old. Can I gift my $90,000 Super to her? A.  As you are age 65, you satisfy a condition of release so you are able to withdraw your Superannuation without restrictions.  Funds withdrawn will be tax-free as you are over age 60. If you wish to […]