It’s fashionable to have an SMSF, and at barbecue talk, it goes well with the new car, private school, investment property and overseas holiday. But who should really have one?
Author Archive | Liam Shorte
Gifting assets in the hope of increasing social security entitlements can be self-defeating. If certain financial levels are breached, the assets gifted remain assessable to the original owner.
Falling into bankruptcy is rarely a planned event, and can leave little to start over. Recent court decisions provide confidence that when Plan A fails, superannuation is a good Plan B.
Only 22% of SMSFs have a corporate trustee, with the rest using individual trustees. The benefits of a corporate trustee are not widely appreciated or adopted, but they will be realised when it’s too late.
A compilation of answers to readers’ questions covering powers of attorney, enduring guardianship, succession planning and limited recourse borrowing arrangements (LRBAs) within an SMSF.