Is it just me or is there a super fund advertising blitz currently underway? Haven't watched much late night Telly lately but with a newborn on my lap I find myself in the lounge, and it's just super super super every ad break! Nice to see where one's contributions go I guess... Cheers -noa
if its not super its life insurance, funeral insurance, home maker insurance n oh the allmighty insurance insurance
Swann is going to Bin scab from all the super accounts that are deemed "Lost", so if you havent made contact with your super account for last 5 years it would be moved into the lost pile until you move it. That 5 years is being moved to 12 months. Is time to make sure you super is safe,- silly comment really! Is never safe!
I have noticed the same too, all these superfunds I have never heard of either. Maybe they are feeling the effect of a small run for those moving into SMSF's. I have converted at least 3 people to SMSF's. Maybe this list is growing. Slam
They would definitely be worried about the government closing a boat load of the little accounts and taking the money - wonder what the total sum is. Just another official confiscation of super. You watch, more and more ways will be opened up to access super funds by authorities - they've already amended legislation to allow super to be tapped under "proceeds of crimes". I'll bet they start indexing the $2k limit for this rule as well - so eventually it incorporates more and more funds of higher value. Make sure you hold precious metals OUTSIDE of super as well - don't own gold only within super. Even though SMSFs should not be impacted by much of the hoovering directed towards defunct retail funds, it simply has to be on their radar. $400b+ is just too tempting to a socialist government to leave unmolested.
Better keep all your records in order, because part of the "Proceeds of Crime ACT" is unexplained wealth: http://www.austlii.edu.au/au/legis/cth/consol_act/poca2002160/s179r.html
I have to get myself sorted with a SMSF - I'm not in any of these industry funds but have had enough of my conpany's provider. Just seems every time I log in to check the balance, about once every couple of months, their site they can't provide me my balance, and there are days where the site is nit even accessible! And they're not even advertising on TV so they should have enough money to keep their web site running lol
This is good advice. To be forewarned is to be forearmed. Control your destiny. Use advisors if you feel you need help but never ever ever ever let them do or control your your investing. Pay for advice only do your own investing. That is why you require an SMSF so you are in control. Think and grow rich. Kind Regards non recourse
This is honestly why I am not convinced a SMSF will necessarily be an escape claus either GP. I think that whilst there's a paper trail attached to *anything* you 'own' in this country, the govt can and will move in to sieze it for whatever needs they deem appropriate. I personally like NR's idea more in managing assets, but owning 'none' so that the bastards can't touch it no matter who they go after - but that just goes back to the original problem of the connected paper trail, doesn't it? I think we're just seeing the market meeting demands right now. The boomers form 20% of our entire population and are moving from fulltime employment to retirement. It's only natural to expect savvy investors to see this opportunity and look to cash in on it.
i read something today that the government's looking into trust funds and ways to amend the laws surrounding them because apparently "people are using them to avoid tax". Kind of hypocritical of them considering that they would all have trust funds for that exact purpose.
