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Hi Summer, Like you you I had a very small super balanec in a Retail Superfund. Decieded that I needed it to wortk harder so a did some research. I ended up transferring ti an Industry super fund with low fees and good returns Choze my own mix and I can change it any time I like without fees. You mentioned Industry super funds you might be aware that they have financial planners who are not paid by commision. I think its a flat $750 fee.
I am looking to get the most out of my super so will probably take advantage of the govt co contribution scheme which will for taxable income under 28k on a max contribution of $1000, the govt will kick in $1500. this is indexed down to dollar for dollar at about $38K taxable income and cuts out at 58k Taxable income. You can contribute in this way once per year and you declare it on your tax return. Not bad for young people. Get a return of 150% which then compounds with the rest of your super. Any way check out the ATO or your superfund web site and search under co superannuation co-contributions.Thanks guys for your replies. I guess waht appeals is the simplicity of the deal. For instance the Manager pays all the outgoings and a guaranteed increased in income of 3% PA. And there is no vacancy risk. Hence the lower return. The down side is that there is nothing I can personally do to the property to make increase its value. Looks like I need to do more homework on the true returns.[blush2]
For extensions, any master builder can estimate based on a price mer square 10ft X 10 ft. For renos you will have to just beat the bushes for a quote. Good luck
I thought a couple of massive ice bergs showing up 40 kms of the coast of Dunedin in NZ would have got some peopl re thinking the global warming hype. Its not hype really… the pollies are just 20 years behind the game.
Please get inolved and informed.. A quick way could be to go see Al Gores movie ” An Inconveneint Truth”
Chistopher Columbus had a similar issue when he dared to suggest that the world was not flat…That caused a bit of hype.[upsidedown]