Archive for May, 2008

We are quitting work and travelling around Australia. How will it affect our super?

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Q. My partner and I regularly listen to your financial advice segment on Radio 4GR Toowoomba on Sundays. Congratulations on a very interesting show.
We are aged 57 and 52 respectively, currently working full time and we each have superannuation [...]

Popularity: 46% [?]

I am business owner and I am questioning my accountant’s advice.

Q. We are business owners and our accountant has us pay a designated amount into super each month. We are reluctant to do this at the moment and have that amount lose money immediately when banks are offering over 8%. Should we try to delay these payments?
Josie’s answer: I am finding that many people [...]

Popularity: 49% [?]

Financial Hell - Please help!

Q. I could really do with some help. I have been trying to sort my finances out for the last 5 years but spending a lot of energy standing still.
After ten years of marriage my wife decided she didn’t want to be married anymore.
My ex-wife retained the majority of the matrimonial assets such as our [...]

Popularity: 47% [?]

I have $100K after selling my house. Should I buy another house or invest the money?

Q. I am 40 years old with 1 child in college 16 yrs old. I have $100,000 after selling my house. I work 4 days per week and earn 616.00 gross should I buy back into the market or am I better of to invest my money and rent.
Josie’s answer: Good question and would love [...]

Popularity: 51% [?]

Does an employer have to pay Super to someone who is working 24 hours per week?

Q. Does an employer have to pay the superannuation guarantee charge to someone who is working 24 hours per week?
Josie’s answer: Yes, they do, however, they are exempt from paying super for the following:-· employees paid less than $450 in a calendar month· those aged aged 70 years or more· employees less than 18 years [...]

Popularity: 47% [?]

My son is on a Disability Pension and I want to invest money for him.

Q. I have a son aged 18 who has a disability and have just been arranging to set up a Special Disability trust via my will. I believe that Income resulting from this will not affect his disability pension.
If I were to invest some money for him now, I am wondering if there [...]

Popularity: 35% [?]

$1500 Co-contribution for my children and excessive fees in super funds

Q. I phoned your Money Matters show last Sunday & asked about investment option for my 14yo daughter who has 2 jobs.

You suggested super, to get the govt incentive. She is not earning enough to pay super yet, though a fund has been set up by employer.If she pays in herself, & gets govt incentive, [...]

Popularity: 38% [?]

Do I get a refund of tax when my super is negative?

Q. Investment earnings in superannuation are taxed at 15%. What happens when your super fund makes a loss? (as may well be for me again this year). Is there no tax? Is there a credit (I wish) or is the loss offset in future years within the fund?
Josie’s answer: This is a really good question [...]

Popularity: 35% [?]

Term deposit or super - Which one is best for me?

Q. I have $17,100 in first state super I’m retired on a carers pension and am 54yrs old, I wish to invest $20,000 I don’t know if I should go with our bank in a term deposit at 8.1% or put it into my super?
Josie’s answer: Assuming you are not working and your sole income [...]

Popularity: 33% [?]

My Self Managed Super Fund is too volatile and expensive.

Q. My Husband and I have a SMSF (at the suggestion of our Adviser) of about $600K, I have an Industry Fund i.e. First State Super (NSW) of around $99K, with a diversified portfolio we are paying our adviser 1.25%, plus the accountant for the Tax return.
During the times of extreme volatility the Industry [...]

Popularity: 30% [?]