Comments for 'thedunnthing' - Aaron Dunn's blog

Comment on Final ruling provides good news for SMSF property investing using borrowing by SMSFCoach - Liam Shorte

SMSFCoach - Liam Shorte — Sat, 26 May 2012 02:59:35 +0000

Good summary Aaron and great to see a common sense approach from the ATO that protects those looking for a sound investment within the more clearly defined parameters. This will help ensure that LRBA strategies may have a long lifespan as it will be harder for those who push the boundaries and go too far to mess it up for the majority.

Comment on 5 key reasons why you must always have a reversionary pension by Frank

Frank — Fri, 25 May 2012 08:20:16 +0000

This may be a basic question, but it is my understanding that a reversionary pension is a pre-existing pension payable to a dependant and this reversionary beneficiary must be nominated at the time of creation of the original pension. Under which section of SIS Act (or Reg) are your require to do this? Where does it say that the reversionary beneficiary most be nominated with the creation of the pension. As far as I know section 59 SIS Act is only applicable to BDBN. Greg blog Aaron, great discussions!

Comment on Changing landscape when dealing with excess contributions? by Geoff

Geoff — Thu, 24 May 2012 03:53:20 +0000

What is the reason for the non-concessional bring forward rule being only applicable to under 65′s?

Comment on Budget delivers a fix for now but problems for the future by thedunnthing

thedunnthing — Sun, 20 May 2012 10:29:50 +0000

Hi Kate,

I believe this is how it would apply as well, however we will only know for sure once we have draft regulations to review.

Regards,
Aaron

Comment on Budget delivers a fix for now but problems for the future by Kate

Kate — Thu, 17 May 2012 06:55:47 +0000

Hi Aaron,

In relation to the introduction of the 30% tax rate for those with an income over $300,000, how will this impact on the rate of taxation applied to concessional contributions allocated per ATO ID 2012/16?

That is, assuming a member makes a second concessional contribution in June 2012 of $25,000 (allocated in early July 2012) this will effectively bringing forward their deduction and subsequently the inclusion of the contribution in the Fund’s assessable income. As the contribution will be taxed in the year received (2012FY) rather than the year allocated (2013FY) will this contribution be taxed at the usual 15% or will the effect of the new rate of 30% somehow be applied? As the rates are only effective from 1 July 2012, perhaps there is a benefit to utilising this strategy and contributing before June rather than waiting until July? Too good to be true I’m guessing.

Thank you,

Kate

Comment on SMSF borrowing – which Bank? why not BYO? by thedunnthing

thedunnthing — Sat, 12 May 2012 04:25:40 +0000

HI Anna,

Most of the major banks have very competitive SMSF loan products. The only difference is how they package them complying structure, some banks pre-package, some require you to setup and they then review.

Regards,
Aaron

Comment on SMSF borrowing – which Bank? why not BYO? by Anna La

Anna La — Fri, 11 May 2012 12:06:26 +0000

Which lender has the best rate to borrow for SMSF properties investment ? I live in NSW .
TA

Comment on Transferring assets into an SMSF by thedunnthing

thedunnthing — Wed, 09 May 2012 10:49:48 +0000

Hi Tony,

Yes you can. The transaction must obviously be done on an arm’s length basis using a market valuation for the sale.

Regards,
Aaron

Comment on Transferring assets into an SMSF by Tony

Tony — Wed, 09 May 2012 07:28:55 +0000

Is it possible to do the reverse. i.e. Sell Residential property from the Superannuation Fund to a member or Family trust. Obviously a market valuation would be required to determing the selling price.

Comment on No need to raid the super fund piggy bank as Government announces further extension of reduced minimum pensions by thedunnthing

thedunnthing — Wed, 09 May 2012 06:53:47 +0000

Thanks for the update Barry, it didn’t make any sense to announce in the MYEFO and then backflip so quickly… Although, it wasn’t beyond the realms of possibility with their Labor Party’s current record on policy decisions!!