There are many ways to invest for your future, like: shares, cash deposits, government bonds, company debentures, life insurance, investment properties in residential or commercial types, and most popular recently self managed superannuation fund, etc.
Hereby, we only discuss 2 major investments that most Australians take part in:
What to have ready when we prepare your taxes on investment properties:
Many Australians are bit concerned about superannuation. With share markets fluctuation and government changing rules regularly, many think it’s not a good idea to put hard owned money into super. There is another way of running your super – SMSFs.
An SMSF is set up with four or less members, the sole purpose is for retirement. You can invest in shares & properties, you can’t take the money out of SMSFs unless you decided to retire or other eligible purpose. SMSFs enjoy lower income tax rate at 15% on income made within SMSFs and zero Capital Gain Tax (CGT) when selling out properties if you retire.
Other benefits of SMSF's:
There are many things to be aware of and an SMSF is not for everyone, members/trustees of SMSFs do have responsibilities to maintain:
To find out if an SMSF is for you, please contact us for a free appointment or complete the e-mail request form.