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In reply to: skorpian on Thursday 29/03/07 12:30am

Hi Skorpian,

 

Interesting article in last Saturday's fin review by John Wasiliev who is very well researched in superannuation. Best part of reading the weekend edition imho.

 

He sais inter alia ...

 

"A post-July possibility for which fingers are being kept crossed says Shirlow, is a concession on CGT treatment of investments where the fund pays a lump sum to beneficiaries. Shirlow and others are lobbying the government for a period of grace after the pension stops, during which time fund investment can be sold tax free.

 

The argument is that the present system discriminates against people who die unexpectedly versus those who die slowly because of an illness.The second group has time to sell investments during the tax-free pension investment earnings phase, so there won't be any major CGT liability in the final reckoning."

 

It seems without changes to the proposed laws don't get hit by a bus, as it it will be financially better in an allocated pension phase to die slowly, and thereby give with a warm hand to your beneficiaries as opposed to a cold hand through your estate. Without changes, it seems we are looking at a defacto death duties tax. What's that they say about the devil is in the detail. Right again.

 

Note Shirlow is a super specialist from Macquarie Financial Services.

wr

tu

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QUOTE (Marsupial @ Wednesday 28/03/07 11:20pm)

o'pouched dad, http://www.sharescene.com/html/emoticons/rolleyes.gif

 

i imagine you will sell all the stock in the SF (whilst in pension mode) and re-buy them to zero the cost base which will ease the CGT burden you might lump on me (this may change soon).

 

i can become dependent if helps you..... fill up the fridge i'm coming back home?? http://www.sharescene.com/html/emoticons/hypocrite.gif

 

edit: thumbs up had it covered already

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In reply to: skorpian on Thursday 29/03/07 12:30am

Thumbs up posted expected change to sudden death treatment.

 

Wolve - actually there is bad news. There is a wife between me, death and the kids. Fridge is always empty. Beer is free in this world do you understand.

 

If TU changes happen then the negative impact on inheritance disappears.

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In reply to: Marsupial on Thursday 29/03/07 10:48am

hi marsupial

 

my folks are just about to enter the pension phase so they are going thru many of the decisions you are dealing with.

 

the most critical decision is how to spend their money in a way that they enjoy the most ie. on themselves

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In reply to: wolverine on Thursday 29/03/07 12:46pm

Gee wolve. I had a minds view that you were in your fifties.

Its amazing how wrong one can be. Perhaps SS should include more personal criteria.

 

A couple of posters with female nondeplumes, for instance, are not female , but male.

 

AWE looking better as each day goes by. I can hardly wait for two Taranaki exploration wells and oil flow from Tui.

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