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Wednesday, 18 December 2013 02:44

Investing in property through a super fund smsf

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PROPERTY AND EQUITIES ARE THE MOST ATTRACTIVE ASSET CLASSES IN THE CURRENT ENVIRONMENT. 1 MILLION AUSTRALIANS, ABOUT 6 PER CENT OF THE POPULATION OWN AN INVESTMENT PROPERTY, NOT MUCH OF THIS IS HELD INSIDE A SELF MANAGED SUPERANNUATION FUND (SMSF).

 

The Australian residential property market has shown a 5.3 per cent annual growth in sales with a 4 per cent growth in the quarter ending August 2013. The historic low cash rate of 2.5 per cent has been evidently driving the current market statistics. However, other market statistics showed a 4.7 per cent fall last month in new home sales. This was the first decline since January 2013. Australian capital city dwelling values grew by 0.5 per cent in August 2013. This growth can be attributed to the increased affordability, rising demand from the increased population and decreased supply from credit-constrained property developers.

Friday, 05 July 2013 01:06

Super News Update

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On 24 June the Senate passed legislation with respect to some key superannuation measures around contributions.

Concessional contributions
 
For the 2013/14 financial year, Australians who are 60 and over will have access to a higher concessional contribution cap of $35,000. This will be extended to people 50 and over in the following financial year. 

 

2012/2013

2013/2014

2014/2015

Less than 50 yrs

$25,000

$25,000

$25,000

50-60

$25,000

$25,000

$35,000

60+

$25,000

$35,000

$35,000

The Senate also passed legislation that effectively puts in place a 30% contributions tax rate for Australians earning over $300K, which is effective for the 2012/13 tax year.
 
This relates to individuals with combined income and concessionally taxed contributions exceeding $300K. Concessional contributions made to a complying superannuation fund will be taxed at 15% as standard inside the fund. The additional 15% tax is on the amount of combined income and contributions that exceeds $300,000.

Thursday, 09 May 2013 00:37

Important changes to Super

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The ATO has announced important changes to Superannuation obligations

New rates for compulsory super payments

There are laws about how much super you must pay for your employees.

The minimum rate of super you must pay is called the super guarantee.

Generally, you must pay a percentage - at the super guarantee rate - of what an employee earns into that employee’s super fund account.

Wayne Swan and Bill Shorten have decided to end the speculation about what the upcoming Federal Budget brings for the superannuation industry. Money Management spotlights the announced changes and the industry’s response.

The Federal Government has finally decided to end speculation around what it might do to its current superannuation policy in the upcoming May Budget, announcing a number of changes on 5 April. 

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