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March 31, 2016
Margaret was 21 when she married Graham. She was working as a sales assistant in a large department store when they decided to start a family. As her pregnancy advanced Margaret gave up work and Graham, a warehouse fork-lift driver, took a second job to make up the shortfall in their income. He was a hard worker and fast learner which prompted his boss to promote Graham to Warehouse Manager a few months later. In the years after their first son was born, two more babies arrived – another boy and a girl. Once the children were settled at school, […]
March 31, 2016
This is a crucial question for those people about to enter residential aged care, especially in light of the change to the treatment of the rental income for new aged care residents after 1 January 2016. With the median price of homes in Sydney now around the $1 million mark, many people looking to enter aged care will be faced with a difficult choice on what to do with the family home. Many of these homes were built over 50 years ago, and are in varying states of repair. Often they are still occupied by the original owner/s and based […]
March 17, 2016
For instance, Australian Securities & Investments Commission (ASIC) recently raised concerns about the marketing of properties as “Self Managed Super Fund (SMSF) qualified” and “SMSF friendly”. The regulator is understandably concerned that the promotions suggest that a category of property exists that is particularly suited to SMSFs. There is, of course, no such category of property. Whether a piece of real estate is an appropriate investment for an SMSF much depends on the circumstances of the fund and its members, whether the property is a worthwhile investment and, critically, a fund’s mandatory investment strategy. Further, SMSF trustees should only accept […]