News : Property

Property, Retirement

Downsizers tip $1b into super

Australians have used superannuation concessions for people downsizing their homes to make $1 billion of contributions into funds in the past year.

Older Australians have taken advantage of superannuation contributions for people downsizing their homes by moving $1 billion into their funds in the past year.

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Property, Tax

Downsizer contributions get separate SAR treatment

downsizer contributions; annual return

The 2019 SMSF annual return will contain a separate area for trustees to inform the ATO about downsizer contributions that have been made.

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Property, Retirement

Equity release may help keep super intact

https://smsmagazine.com.au/wp-content/uploads/2018/05/GettyImages-816236150-edit-web.jpg

Equity release solutions should be used to reduce the rising number of Australians using their superannuation to ease mortgage debts.

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LRBA, Property

Stay within safe harbour with LRBAs

LRBA; safe harbour; Division 7A

SMSFs should keep an eye on both the safe harbour guidelines and Division 7A to ensure loans made to the fund are not treated as contributions.

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Property, Tax

SMSF valuers create shield against ATO penalties

SMSFs can avoid potential ATO penalties related to an incorrect valuation by using a qualified valuer familiar with these types of funds.

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ASIC, Financial Planning, Property

ASIC begins first conflicted remuneration case

SMSF; advice; conflicted remuneration

A Queensland SMSF advice business and its Perth-based licensee will face court in the first legal case dealing with conflicted remuneration related to financial advice.

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Pensions, Property

More retirees to access reverse mortgages

Changes to the Pension Loans Scheme will allow more retirees to access reverse mortgages, but they should also consider the potential downsides.

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Property, Strategy

Division 7A changes pose potential trustee risk

SMSFs with related-party loans should be wary of a range of changes slated for Division 7A loan rules.

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Property, Superannuation

Super contributions better option than negative gearing

Concessional contributions into super are lower risk than negative gearing into property, despite many investors favouring the latter strategy.

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LRBA, Property

LRBAs to bounce back after election

limited recourse borrowing arrangements; LRBA; Grant Abbott

The use of limited recourse borrowing arrangements has been predicted to rebound in the coming months, driven by government support and lower property prices.

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