What's your prediction on the Australian Dollar?

[sumthinfornuthin]

Owning property is too easy. You need to see it as an income source in retirement. No need to sell the property and if you really want to sell then wait until you are retired and sell into an annuity or allocated pension if you must.

And in my opinion the Capital Gains Tax on a $350,000 sale where the property cost $175,000 is next to nothing if you have little other income.

Either way I am miles in front of where I would have been had I invested solely into super.

Simply following the old and tried rules about not keeping all ones eggs in the one basket...
Not rocket science but funny how the simplest things just seem to work whereas all the complicated structures seem to end up in people getting scammed or going broke

 

[Cruiser Elite]

Whats the restriction on buying commercial property through a SMSF and renting it to your own company? Does rent have to be the market rate or can it be $1 a week?

rocket you do not need to be a rocket scientist to know unequivocally that AFF is not really the place to seek financial advice - might be best you go seek advice from a competent licensed FA if you do not already have one.

 

[Awesom Andy]

Not rocket science but funny how the simplest things just seem to work whereas all the complicated structures seem to end up in people getting scammed or going broke

You end up spending time managing the structure rather than the investment.

 

[sumthinfornuthin]

You end up spending time managing the structure rather than the investment.

too true..................

 

[whatmeworry]

Accussations of Chinese investors laundering money in Australia.

The CCTV report accuses the Bank of China of money-laundering via a scheme that lets wealthy Chinese nationals circumvent Beijing's strict currency controls.
The Bank of China has not commented on the allegations.
Australia has emerged at the centre of Chinese money-laundering claims since a special investor visa program was launched under the former Labor government that offers an accelerated pathway for wealthy foreign nationals to gain permanent residency in Australia by investing $5 million in Australian bonds, funds or small business.
Chinese nationals account for nine out of 10 applicants.

Bank of China 'laundering cash' in Australia

 

[moa999]

Given it is only legal for a Chinese citizen to take out $50k per year this has been going on for a while

 

[whatmeworry]

Why the dollar is defying the Reserve Bank

 

[drsmithy]

Why the dollar is defying the Reserve Bank

"Even CommSec’s index comparing international prices of iPads, based on the economic theory they should be the same after adjusting for exchange rates, puts the fair value of the dollar at US94¢."

That's utterly stupid. Apple only revise product pricing when they release a new product.

If the RBA really wanted to get the dollar down, then they'd do what the Swiss did - pick a target exchange rate and "print" as many AUD as it took to reach that.

 

[JohnK]

Indeed. Contemporary Australia is very much a tax rort nation - and that's after already having some of the lowest taxes in the developed world.

We should strive to be the highest taxed nation in the world. Then we can afford to have more freeloaders arrive on our doorstep.

working on 40-48.5 c in dollar at marginal levels

I wouldn't be anywhere near marginal tax levels.

 

[Cruiser Elite]

We should strive to be the highest taxed nation in the world. Then we can afford to have more freeloaders arrive on our doorstep.

Compassionate devil aren't you.

 

[drsmithy]

We should strive to be the highest taxed nation in the world.

This is what we call a Straw Man fallacy.

Then we can afford to have more freeloaders arrive on our doorstep.

It is an article of faith amongst certain people that the welfare system is overrun with "freeloaders". It is also a belief utterly unsupported by evidence.

Ironically (or hypocritically, depending on your perspective), those people throwing around accusations of "freeloading" tend to be the same people who have structured their affairs so as to receive as many Government payments as possible, dramatically lower their effective tax rates and maximise access to rorts like novated leasing (or some of the other situations described earlier around commercial property in SMSFs being used by their own business), all while being quite financially secure and not in any real need of taxpayer assistance.

 

[JohnK]

Compassionate devil aren't you.

How did you know? Compassion is my strong point. I believe in sharing what little I have with those who don't have any interest in contributing to the growth of the collective.

Sponging is much easier. Bleeding hearts are totally supportive of it.

 

[whatmeworry]

Rba advises the public your better off renting.
The RBA says you're probably better off renting

 

[Warks]

And here they go again, with a record of predicting movement in the $A second only to Paul the Octopus they are saying:

Australian dollar to drop to US86c in 2015

 

[whatmeworry]

Quite pessimistic on the dollar.

The Aussie dollar is set for a big fall. Only Gareth Aird expects it to climb above its present 94 US cents with Chris Caton, Alan Oster, Stephen Anthony and Shane Garrett expecting 82 US cents and Stephen Koukoulas and Peter Jones expecting 80 US cents.

Read more: Australian dollar to drop to US86c in 2015
​

 

[JohnK]

Hmmm.

The AUD could either go up, drop back or stay the same.

I'm sweet.

 

[Foreigner]

And here they go again, with a record of predicting movement in the $A second only to Paul the Octopus they are saying:

Australian dollar to drop to US86c in 2015

I hope the AUD does make a correction.

 

[JohnK]

I hope the AUD does make a correction.

Down?

The only correction the AUD needs to make is back to parity with USD.

 

[Foreigner]

Down?

The only correction the AUD needs to make is back to parity with USD.

Yep, down. That's for my own greedy reason.

 

[sumthinfornuthin]

We should strive to be the highest taxed nation in the world. Then we can afford to have more freeloaders arrive on our doorstep.


I wouldn't be anywhere near marginal tax levels.

Make a big enough Capital gain JohnK and they will say "thank you very much...."