The impact of commodities prices on mining companies
I have been reading that iron ore and coal export prices are due to be negotiated in the near future? Can you tell me how the process works and where I can find the results of the negotiations and final pricing outcome? Also what short term impact does this have on mining company’s share price?…
What factors determine how much we pay for petrol at the pump?
Petroleum pricing has become a factor of concern to consumers, refiners and producers across the world, and price determination has come under the microscope, especially as crude oil prices were reaching record highs earlier in 2008 and prices at the bowser were sky-rocketing. There is a lot of discussion surrounding petroleum pricing, and the primary…
I am tossing up between a DIY super fund or opening a wrap account
I would like more control over my superannuation savings and am considering starting either a self-managed super fund or doing it via a super wrap account such as that offered by [ABC] Investment Management. I found out the fees for a [ABC] Direct Wrap and calculated it would be an average of 0.57% pa of…
Should I sell my home, buy a cheaper one, and invest the remaining funds for retirement?
We have 5 1/4 acres of residential land 20km south of Brisbane with an 7-year old home build by us on it. We have owned it for 10 years and our cost is around $300,000. In October last year we were offered $1.5 million by a stgeloper who knocked on our door, which we did…
Are allocated pensions all that they are cracked up to be?
My question is about allocated pensions. As I understand it a person between the age of 55 to 60 yrs, can reduce the tax paid in his super fund from 15% to zero by entering an allocated pension. However could you consider this self-defeating if say the person did not need that pension to live…
Dumping cash into super before retirement
I have triggered the bring forward rule which allows me to invest 3 years non concessional contributions in 2007/8. ie 3 by $150000 = $450,000. However I have only contributed $400,000 as at today’s date. I turn 65 on 6/1/2009. Could you please advise me as to whether I can contribute the outstanding balance of…
Clever DIY super strategy – but is it legal with the ATO?
Question: I have a large taxable component in my self-managed super fund. My financial advisor suggests I withdraw $140,000 and deposit it into my own bank account for one day then deposit it back into the SMSF and repeat this transaction for the next five years. Is this legal with the ATO? Answer: Super re-contribution…
How best to handle retirement payouts without jeopardising the age pension
I do have a financial planning question. I’m 64 years old and working for a government statutory body, which is Legal Aid Qld. I’m also a member of the Centrelink pension bonus scheme. I earn approx $50,000 pa, but salary sacrifice a bit less than 50% of this. That’s made up of the max amount…
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…
I have sold an investment property and want to put the proceeds into my DIY fund
I am selling a rental property and expect a capital gain of about $230,000.00. For tax purposes I reduce it by half and pay capital gains tax on $115,000. Can I place this into our DIY super fund and pay the 15% entrance tax rather than including it in my personal return? Also, can I…
