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Self Managed Super Funds (SMSF)
mullokintyre
post Posted: May 22 2019, 07:06 PM
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In Reply To: lgrif's post @ May 22 2019, 05:49 PM

I share your concerns.
I also have an SMSF, but took funds out to keep a reserve just in case.
Given the massive amounts of money going in to Super, it becomes too much of a cash cow to ignore.
The pollies and bureacrats will make all sorts of excuses/reasosn as to why it is a good thing, but it will happen nonetheless.

Mick



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sent from my Olivetti Typewriter.
 
lgrif
post Posted: May 22 2019, 05:49 PM
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In Reply To: mullokintyre's post @ May 22 2019, 04:57 PM

As a SMSF member, the Minimum pension withdrawal you mention doesn't worry me, but I do worry that one day the powers-to-be will legislate a "maximum" withdrawal limit, thereby turning super into an expensive to maintain annuity. This will greatly reduce members powers of withdrawal for both necessary expenditure & for the purpose of achieving part Gov pension etc. Just a matter of time before they do I believe. Although, as do most people, funds are held outside super my concern is the "maximum" limit will apply as from date of announcement & my future financial choices are massively reduced.


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nipper
post Posted: May 22 2019, 05:23 PM
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In Reply To: mullokintyre's post @ May 22 2019, 04:57 PM

QUOTE
.. millions of dollars ..
the 2017 move to put a cap of $1.6mil on account based pensions has already achieved the result, with any balance above that amount reverting to Accumulation accounts (and taxable on earnings). I have seen similarly invested Balanced portfolios, with a $7million SMSF now getting a refund of $4k, while a $800K SMSF getting about $6K as credit. Labor's squawking was misplaced, IMO, as the smaller fund would be on Centrelink sooner, if the changes were implemented



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: May 22 2019, 04:57 PM
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Last week, I was talking with a wealth advisor.
He wondered where the ALP gets its financial and actuary info from.
He made the interesting point that the large SMSF funds getting millions of "gifts" from the ATO courtesy of Franking credits, would over time lose the advantage.
For the fund to get this franking credit "gift", one or more members would have to be either retired, or transitioning to retirement.
Once retired, members have to extract a minimum of 5% from age 65 to 74, and it increases by 1 % every 5 years after that.
So these members with many millions of dollars in their funds are going to have to take some out every year.
They either spend it, providing the Govt with GST, or invest in something outside of Super, and thus attracts either company tax, income tax, or capital gains tax.
Over time, the members balance gets smaller, depending on how long the members lives.

Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: May 20 2019, 09:07 AM
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Chris Bowen: “If you don’t like our policies, don’t vote for us”.

Thanks Chris, that was good advice.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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lgrif
post Posted: May 17 2019, 12:52 PM
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In Reply To: mullokintyre's post @ May 17 2019, 11:30 AM

I'd forgotten, but way, way back super funds had to comply with a 30% -20% bond holding ratio; ie if I remember correctly, 20% or better of the funds assets had to be in Fed Gov bonds & 10% or better had to be in State Gov bonds.
Reintroduction would sit well with any Gov plan to increase the employer compulsory super contrib rate.
I hope the rumour is unfounded.


 

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mullokintyre
post Posted: May 17 2019, 11:30 AM
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I could not work out where to put this post,.
Its about Superannuation, but does not mean only SmSF, but what the heck, ya gotta start somewhere.
From Chuck Butlers Daily Pfenning

QUOTE
And that brings me to very dark alley, where things are talked about outside of the media... Here, I get to listen to many theories and rumors... The rumor I'm concentrating on now is the one that floated around about 10 years ago, and I warned then that it would come back at some point in the future, and it has, that's why I'm checking it out today... The rumor I'm talking about is the Gov't requiring U.S. citizens with 401's and IRA's to buy Treasuries, since the foreigners aren't buying them... While I don't care for the idea, think about it for a minute... If all the moms and pops of the U.S. held Treasuries in their retirement account, they wouldn't give two hoots about a stock selloff, now would they? So... checking on it, I find it's way back in the dark alley, so it appears to be a back burner things right now...


This is the second time in recent months I have come across this rumour.
It would be a natural flow here in OZ.
Given what all sides of govt have done with super, they force more and more money into super funds out of the wages of workers (The Super Guarantee contribs % will be 15 % under Labour), and then legislate that all funds must hold a certain percentage of govet bonds in their portfolios.
Money for Jam.

Mick



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nipper
post Posted: Aug 27 2017, 03:39 PM
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QUOTE
'The Australian' newspaper reported this week:

"Millennial superannuation fund Spaceship has removed all references to Atlassian CEO Mike Cannon-Brookes from its marketing, as two of its co-founders were reportedly pushed out of the venture. The Australian understands the tech-focused super fund, which had used Atlassian co-founder and one of Australia’s wealthiest entrepreneurs Mike Cannon-Brookes heavily in its social media and website marketing, was asked to remove his image.

Spaceship’s website previously featured quotes from Mr Cannon-Brookes and splashed his face across advertising on Facebook and Twitter, imploring millennials to “invest your super where Mike Cannon-Brookes invests his super”. Spaceship has since rebranded its marketing to remove all references to Mr Cannon-Brookes."

- it's all about the money. ...and he failed at the property grab ( missed out on Technology Park in Sydney), the usual route of preference when " taking a little bit off the table" - Sarich, Dick Smith, Paul Little and a long line of others.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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nipper
post Posted: Sep 14 2016, 09:58 AM
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QUOTE
Atlassian chief Mike Cannon-Brookes first shook up workplace software. Now he's turned his eyes to superannuation, leading a $1.6 million seed funding round into Spaceship, a new technology-­focused fund aimed squarely at millennials.

The app-based super fund, to be launched later this year, will offer 18-35s the chance to invest in technology, which now accounts for the world's five biggest companies.

"For our generation, when we ask anyone our age where their super is, we normally get a blank face," chief investment officer Paul Bennett, who ran the $500m Malone family office and is a venture partner at Airtree Ventures, told The Australian.

"And then we ask 'what companies?' and we get a worried look. We've seen an extremely disengaged audience, and super is going to be an even bigger investment than buying a house over time. "Atlassian is now bigger than our national airline Qantas, and technology is going to absolutely be the key differentiator for businesses going forward."

Though tech firms are seen as risky propositions, with the dotcom bust still in investors' minds, Spaceship's founders argue all investments have risks — and big banks and miners are arguably riskier, given the disruption ahead in coming decades.

"Tech has proven itself now," Mr Bennett said. "We should be investing in where the world is going, not where it's been."

The founders said they were extremely excited to be working with Mr Cannon-Brookes, who is investing in Spaceship through his investment firm Grok Ventures.

He has being joined by early Salesforce investor Simon Clausen, Aconex CEO and founder Leigh Jasper, Mike Baukes and Alan Sharp-Paul of UpGuard and Andre Eikmeier of Vinomofo.

"Spaceship will be a game-changer, and I'm looking forward to transferring my own super in when it launches," Mr Cannon-Brookes said.

CEO Andrew Sellen told The Australian he's well-positioned to steer the fund given his previous role at Australian Ethical Investment, where he led the marketing team and saw it increase funds under management from $500m to $1.4 billion in three years.

"All four of us have strong backgrounds in financial services, so we've all experienced from the inside what it's like trying to do something remarkable and different," Mr Sellen said, adding he came up with the idea over a beer with chief technology officer Dave Kuhn, a Silicon Valley veteran.

The fund's point of difference is not just its focus on technology investment but how its members will use it, with Spaceship plotting an artificial intelligence-powered app, a decision Mr Sellen said was a reaction to the "insane" amount of paperwork generated by other funds. "We communicate through digital channels only, and make it extremely easy to get stuff done, like our instant super find, and one-tap combine functionality that you can do in the Spaceship app when you sign up," he said.

there's no doubting the inventiveness and ability to repackage, when it come to ticket-clippers




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 2 2016, 02:15 PM
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In Reply To: Metal's post @ Sep 2 2016, 01:25 PM

According to the legislation, the primary objective of a Superannuation Fund is to provide retirement benefits to its members.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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