FAQ: I am 45 and have just lost my job. Can I access my super to see me through until I find another job?
It is common for people to start looking at their superannuation balances when under financial stress, however, although it is your personal superannuation account, it is generally difficult to withdraw any benefits until retirement.
FAQ: Can I transfer my BHP shares into my SMSF?
Yes, you are able to transfer your BHP shares into your SMSF as long as they are transferred at market value. Although SMSF trustees are generally prohibited from buying assets from members or related parties; an exception exists where trustees acquire listed securities at market value.
FAQ: Can my SMSF borrow money to invest?
The savings built up in your SMSF represent a significant source of capital you can use to further grow your wealth. However, there may come a time when it’s not enough.
What is an actuary’s certificate and when do I need one?
One of the advantages of an SMSF trustee commencing an income stream in his or her super fund is that the income and capital gains on the assets supporting the pension account become tax free.
Can I access my super to see me through times of financial hardship?
We receive questions from trustees and professionals about their or their client’s eligibility to access their SMSF contributions early.
Can my SMSF buy my business premises?
As an SMSF service provider to trustees, accountants and financial planners, one very common question we get asked is whether a self-managed super fund can buy commercial property from a member or related party.
Can I trade in exchange-traded options in my SMSF?
With the attractive tax concessions in SMSFs, some trustees are looking to invest in complex derivatives within their SMSF in a bid to increase their retirement savings.
FAQ: How much money can I contribute to my SMSF this year?
Due to the generous tax concessions available in superannuation funds and to members once they withdraw their super in retirement, the government has established annual limits on the amount of contributions that can be made to a super fund either by you or on your behalf.
FAQ: My fund is 10 years old – should I get my deed reviewed?
All SMSFs require a trust deed, which sets out the governing rules for the operation of a given fund. Along with abiding by superannuation legislation, trustees are also required to follow the rules set out in the trust deed.
