Financial Planning

Do I pay capital gains tax on inherited Aussie stocks if I live overseas?

Question: I am an Australian citizen who has lived overseas for a number of years. I have recently inherited a number of Australian shares from my father’s estate. (Nothing has gone through yet) I am told that I am required to pay CGT to the Australian Government, being an overseas resident. If so, how much…

Self-managed super funds and tax exemptions on pension assets

I am over 70, but my wife is only 62 and we are both retired. We have a SMSF that commenced in 2005 from which we both draw a pension. Each year I have donated funds to my wife’s super in order to claim the Co-contribution. Apparently this means that the SMSF is in both…

Contributing $100,000 to super this financial year

I am in the contract transport business. My contract is with one major transport company (or prime contractor). If I wished to contribute $100,000 to super pre tax in the 08/09 financial year, is this possible?Regards A.H. The short answer is YES! Now I’d like you to imagine the end of those political ads on…

SMSF strategies for low income earners

We are low income earners (paying only 15%) but have our own SMSF. How can we lessen the tax burden on our SMSF to enable us to build wealth and retire eventually? It seems that all the tax strategies only allow for high income earners.  From what I have read starting transition to Retirement Pension…

I wanna build MORE in Super but they won’t let me!

I’ve heard that the government has reduced the amount I can put into super by salary sacrifice due to the Budget. Is this right and what should the strategy be now? The government has halved the total you can put into super from salary sacrifice and your employer sources (known as concessional contributions because they…

What sort of investments will reduce tax in my family trust?

I have a family trust structure for my business income and am looking at a large tax bill this coming year. What sort of investments are available to reduce the tax I will have to pay? I’ve heard of things like investing in trees or olives, but are these more trouble than they’re worth? And…

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