Superannuation Discussion + market volatility

[tgh]

I think you missed the 2xentendre RB

 

[Pushka]

My bad. I should have used this

 

[serfty]

So an SMSF with one person on the pension by 28 March will receive the IC, except - subject to provisions?

To be clear, it was March 2018 - so too late if not on the pension as of 11 months ago!

 

[Pushka]

To be clear, it was March 2018 - so too late if not on the pension as of 11 months ago!

View attachment 152865

Why then? That will catch a lot of people out.

 

[QF WP]

Nothing like a Royal Commission Report to shake things up.

Stayed up last night to read the first 150 pages (of 530). Will be tough on the banking (apart from Westpac) and mortgage broking industries.

So this morning a rally in those stocks who were named in the report, had started

 

[get me outta here]

Looks like those market rises reflect the damp squib of specific recommendations for bank 'punishments'. It's back to the bank boards now who got us into this greedy mess in the first place. Will be interesting to see what equity prices do as the effects if any, role out.

A good friend died after he lost everything in the Storm Financial, BOQ etc debacle. The protections put in place after that appalling behavior were then watered down by a change of govt. Here we go again.

 

[Pushka]

Other than a slap and the threat of criminal charges that will never happen, the Banks got out of it pretty easily.

 

[andye]

Good news for super balances at least. Seems like the mortgage brokers are the only group taking the heat at the moment.

 

[tgh]

Good news for super balances at least

Indeed … buoyed by the possibility of keeping my franking credits and todays market surge, I just might have a small "imbibation" tonight

Otoh...It is a bit sad that my net worth is no longer associated with enterprise or applied intellect.. rather it is a by product of International market gamers and the whims of politicians…..

 

[rogerkambah]

Why then? That will catch a lot of people out.

Of course, that's the idea.
Notice they don't say that those receiving ICs at this date are unaffected.

 

[QF WP]

Well for those that have excess funds above their maximum super cap, insurance bonds are coming back strongly in favour. Had a very interesting session with Generation Life today over lunch at the BNE Hilton:

 

[get me outta here]

Fin Review says today to go into bonds and it will replace any lost income very quickly.

 

[amaroo]

Is that Grant Hackett

 

[tgh]

Succession planning is interesting , minimising tax for the lucky siblings…
Wonder how labour proposes to separate the tax paying excess for the lucky few over 1.6 with the 0 franking credits for the rest of the balance ?

 

[cove]

Bad day today for the short sellers of bank stocks. Great day for bank shareholders but it may not last too long.

 

[burmans]

Is that Grant Hackett

Let's play who's the famous presenter!

 

[get me outta here]

In this case more like infamous after many unfortunate occurrences.

Let's play who's the famous presenter!

 

[cove]

I remember being a CPA in practice just over 35 years ago where I had 2 types of clients. One lot had too much money and the other lot who had too little.
Thanks for plugging Generation Life as that is an interesting group QF WP.

 

[QF WP]

It’s an interesting product that may suit certain types of investors and situations, particularly those that can’t access superannuation and have a high MTR. They aren’t the only manufacturer with an open Insurance Bond in the marketplace (another 4 IIRC), but they gave a number of very interested options/benefits they designed that weren’t around in the early days of the insurance bonds (early 80’s). I’ve got a bit of research and reading still to do on the product

 

[tgh]

QFWP.. can you point me towards any backup for the Plato statement about ALP Policy / exemptions for pension phase smsf's.
I can't find anything at all

edit .. So answering my own question ….the Plato presentation refers to recipients of government pensions.
SMSF's in pension phase lose all their franking credits...

… aaaand of course.. hybrids lose their attraction.. the prices haven't tanked.. .. yet….