Superanuation.... - PropertyInvesting.com

Viewing 9 posts - 1 through 9 (of 9 total)

TeacherK6
Member
@teacherk6
Join Date: 2003
Post Count: 164
October 17, 2003 - 11:31 am
Hey there
Just a quick question. I hav 3 seperate super funds. can 2 be closed and the money placed into the one im using at the moment somehow???
dont see the point in paying 3 sets of fees…
Thanx,
Jason
Billfromoz
Participant
@billfromoz
Join Date: 2003
Post Count: 381
October 17, 2003 - 1:58 pm
G’day Jason…
In short (for once) YES
Contact the Fund you prefer and get them to send you the paperwork to complete and send to the other two.
Cheers
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
steveod
Member
@steveod
Join Date: 2003
Post Count: 28
October 17, 2003 - 1:59 pm
Hi Jason,
Yes, it can be done and is a simple process. I have just done the same thing. Just decide which one you want to keep, then ring the other two to send out the paperwork to roll funds into your preferred super policy.
If you are seriously looking at running your own investment portfolio, it is also worth talkin to your accountant about setting up your own super fund.
Regards,
Steve.
www.Landlords.co.nz
Member
@www.landlords.co.nz
Join Date: 2003
Post Count: 60
October 18, 2003 - 11:26 am
OK,
So (Im new to the Aussie super scheme)
Can I:
Create a DIY superfund.
Leverage my companies contributions (9% of my earnings) that get paid into it, and use them to buy IP?
Or in fact, have the DIY superfund become an investor in a business that I am setting up?
Craig
NZ Property Investing News
http://www.Landlords.co.nz
picja1
Member
@picja1
Join Date: 2003
Post Count: 144
October 18, 2003 - 11:56 am
http://www.landlords.co.nz
In Australia, no problem. Do it all the time.
To set up DIY super approx $495
Yearly audit $795 approx.
You can also have your super pay for investment courses, internet charges, the list goes on….
[email protected]
TeacherK6
Member
@teacherk6
Join Date: 2003
Post Count: 164
October 18, 2003 - 12:02 pm
Thanx for ur help guys!
Jason
www.Landlords.co.nz
Member
@www.landlords.co.nz
Join Date: 2003
Post Count: 60
October 19, 2003 - 2:31 pm
Damn cool!
Is there somewhere I can go to read up on whats required etc??
While compulsory super is great for those who just plod along in their jobs til 65.. i just think that money can be invested now – in a much better way.
even tho Ive only just started my aussie super, I could see it paying for itself in 2 years.
Craig
NZ Property Investing News
http://www.Landlords.co.nz
steveod
Member
@steveod
Join Date: 2003
Post Count: 28
October 20, 2003 - 3:24 pm
Craig,
I had my accountant halp set up mine. I suggest that you talk to your accountant who should be able to get things under way, or at least point you in the right direction.
Steve.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
October 23, 2003 - 1:21 am
Craig
When setting up your DIY Super Fund why not consider wrapping instead of just buying IP’s.
Combination of growth and cashflow. I have done several deals in Super as part of my overall investment strategy.
Cheers Richard
[email protected]
http://www.fhog.com.au
There is no such thing as a problem.
Just a solution waiting to be found
Richard Taylor | Australia's leading private lender