Should My SMSF Look At Property?

We look at the benefits and risks below.

You will need to adhere to the SMSF rules.

Before considering a property investment, be aware that you will have to comply with the rules. The property will need to pass the ‘sole purpose’ test- it will need to solely be providing retirement benefits to members. You can’t buy it from a relation of any of the members, it cannot be lived in by any of the members or their relatives, and it cannot be rented by a member or their family. The only exception comes occasionally when it is a business premises for the family. You will only be able to do this if you will be paying rent at the market rate.

Be aware of the fees you and the SMSF will pay investing in property.

Self managed superannuation fund property sales attract a host of charges. These can add up and defeat the purpose of maintaining the SMSF’s balance. Be certain that you understand these fees properly before proceeding with a purchase. There will be stamp duty, bank fees, property management fees, legal fees and the upfront fees. There is one fee you should never scrimp on, however, and that’s advice fees. You will need the opinion of a third party with no vested interest in either the sale of the property or the self managed superannuation fund itself to guide you as to whether the purchase is right for your super or not. Make use of reputable people like to help guide you as to your options. Do watch out for fees by advisory groups. Is the one place where it’s usually better to avoid a recommendation! The advice must be independent, and anyone advising on a SMSF transaction must hold an Australian Financial Services License.

Avoid National Rental Affordability Scheme houses.

Treat anyone who suggests investing in this particular class of property with some suspicion. The AISC has advised that these offers are often misleading. The amount of free tax grant you receive will often not fall into line with the promises made.

Borrowing conditions for an SMSF

Gearing the SMSF or borrowing in general, has to be done carefully. Use a ‘limited recourse borrowing arrangement’ for safety. Although this can only be used to purchase a single asset, it will help limit liability in the case of a default and preserve the rest of the fund. Remember that property in your super will carry higher costs, limit your cash flow as loan repayments must take place through the super, can be very hard to unwind or cancel down the line if there is any hiccough with the documentation or contract, and tax losses from the property will not be allowed as an offset to your external taxable income. You will also be forbidden from borrowing to improve on the property itself- only for maintenance.

While property can be a valuable part of an SMSF, you need to handle the transaction with care and get independent advice to assist you in making the decision.

What Makes Thrift Savings Accounts Great Retirement Plans

As you go about life, it is very important that you prepare for the important things as well as for the emergencies and uncertainties that you may encounter as you live.

One eventuality that you will want to prepare for as early as you possibly can will be your retirement. Sure, you may still be quite young at this point in time, but the reality is that you will reach an age where you will be unable to work jobs relating to your field or profession; for those years, you will want to have as much resources as you possibly can in order for you to be able to still live a comfortable life even without a job that will provide you with the income that you need.

If you have just started working for the US military or for a federal agency then you should have a retirement plan in effect that the government has setup for you. Thrift savings accounts are usually the retirement plans that the government give to federal employees. You might think that this plan is sub-par as it is just the government that offers the plan, but this plan actually has a lot of advantages that you might really love.

One of the main advantages of a thrift savings plan is that it is one of the most affordable retirement plans to maintain. The other retirement plans that are available today have high miscellaneous fees in addition to the contributions that you make, which can certainly take a huge chunk off of your income. TSPs however or thrift savings plans, are much more affordable in terms of the fees that you need to pay to keep the plan running, and should allow you to get more money from your salary, which you can use for your everyday needs or wants or you can use to make bigger contributions to your retirement fund.

Another advantage that a TSP offers is that it is quite the versatile retirement plan. This is due to the fact that the size of your retirement fund is very much dependent on the amounts that you put into the plan. With other retirement plans you usually have a very fixed amount that you can contribute into, so if you want a bigger retirement plan then restrictive plans may not give you the amount that you want or need when you do retire. With a TSP however, you are given more leeway in terms of the amounts that you can contribute, which should allow you to allocate a bigger amount of your income into the plan if you want to really prepare for retirement.

What’s great about the plan is that all contributions that you make to it are also deductible from your tax. This feature should allow you to have even more monetary savings. If you have a TSP plan that is provided to you by the government; do your best to nurture the growth of the plan and it should be quite rewarding when retirement age arrives.

Should You Borrow Money To Get A House?

It can be said that the easiest way to purchase a residential home is through applying for home loans; but, since you’d be in debt when you borrow money, is it worth it? To have an answer to this, take a look at the pros and cons of it. When you have a house of your own, you could reside in a place where you’d be free from paying rent. Also, when you have a space that you own, you could do whatever you want with it. It means that no landlord could tell you that you’re not allowed to do something on your spot. Still, when you borrow money, you have to pay for it eventually. Home loans are quite expensive since an average house costs thousands or even millions of dollars. Likewise, the debts that you would have when your loans would be approved would be something that is long-term. If you want to know whether or not you’re qualified to borrow money or to find out if borrowing is the best approach for you, take a look at some of the things that you have to seriously take into consideration below.

Before you could be granted the privilege to have loans, you would have to be assessed by lenders first. That’s because lending business is something that’s risky. Employees of lending institutions carefully examine whether or not loan applicants have what it takes to pay up later on before they take out money and lend to those who are in need of financial assistance. That’s to say, if you want to have approved loans, you should make yourself trustworthy in the eyes of lenders. Prove to a lender that you can pay in the future if they would let you borrow some money. You could show that you have a good reputation when it comes to money matters by improving your credit score. You could prove that you’re someone who’s paying in full and paying on time so that you could get the loans that you want to have. However, you have other important things to bear in mind before you borrow money—for instance, your total monthly or yearly expenditure. Prior to literally applying for loans, you should do some budgeting first.

Find out if you can pay for loans in the future by computing your present expenses well and estimating whether or not you could continue to pay debts for years to come. Have a look at the cost of your living and take note if you have more to pay for fees. If you only have enough money to pay for what you necessarily need so that you could go on living then you shouldn’t borrow cash instead. Borrow only if you can deal with having to pay for installments and if you’re willing to sacrifice your wants. To know if you’re someone who’s qualified to borrow, look for home loan eligibility details and then try to assess yourself thoroughly. Also, take note that most lending institutions today only provide about eighty to eighty-five percent of the total amount that you have to pay for in order to get yourself a house so you have to think about borrowing before you apply ask for loans today.

Getting A Better Tax Deduction Return From The ATO

All of us would like to get the best tax deduction possible, of course. There’s nothing worse, however, then that sinking feeling when confronted with your tax return, knowing you have no idea where to start. Here’s some tips to start you on your way.

Firstly, make sure that you’re claiming all the deductions you’re entitled to. It’s one of the best legal ways to maximise your return. Remember that there’s a host of industry specific things you can deduct, as well as the more general categories, so it pays to be well versed in what you can and can’t do. But it’s not only about claiming. You need to make absolutely certain that you keep proof of any deduction you make, including things like travel logbooks and receipts. Rather keep the receipt and seek professional accounting advice if you’re not sure about whether or not something is claimable then throw it away and risk being wrong. It’s best not to fake the deductions you claim at all- there are enough legitimate ways to bring down your bill that using fake reasons is unlikely to pay off well and more likely to result in a scary bill and criminal conviction.

One of the easiest ways to get the best out of your tax return is, of course, keeping good records throughout the year. This is especially beneficial if you use an accountant, as it will save wasted [billable] hours of tracking these things down. It also prevents missed opportunities or expenses that have to get thrown out for lack of proof. Keep track or receipts, be organised and fill in log and travel books diligently. Something as simple as 5 minutes a week can save you hours of frustration, wasted time and lost opportunities

Talking about billable hours, don’t be afraid to invest in professional advice, especially if you have multiple business or in any other manner a complicated return. Using a professional tax service cuts down on your stress and time constraints considerably, they are also a tax deductible expense on the next return and may well save you the money they cost in deductions and other missed opportunities. Surveys suggest up to 70% of Aussie citizens use a tax service to file their returns and help them reduce the tax they’re paying, so you will be in good hands! Do make sure, however, that you’re receiving personal service, especially at bigger firms, and that a qualified person is handling your return at all times. If you wanted it to fall to a half or unqualified person, you would have done it yourself!

Whether you choose to go with a professional or stick with it yourself, don’t miss the little things- they can add up. A $5 coffee bought for a client, or a $10 charity donation may not seem like much, but they can add up to great things over time. No matter how small the detail, keep your records up to day and keep track.

Getting the best out of your tax return isn’t as hard as you may think it is, so with these great tips you need never fear that deadline ever again. For more great tax return tips, head over to

Try To Invest Right Now

Because the value of money can change, you shouldn’t just save the money that you’d earn. You should make use of it. To be specific, you should invest. That’s because investing may give you the opportunity to make some more money or at least get yourself things that would last long and are literally useful. You have to consider your future so you have to invest. It would be better for you to risk than to live life not knowing what could have been if you only tried things that could have let you made the most of your resources. Where exactly should you spend your money on, you ask? That depends on you. But, for some of the options that you may be interested in, please continue reading.

Gold is something that you may want to buy for yourself. Yes, it is true that it is expensive; but, still, it’s something that is worth purchasing because of its value. You may not be able to use it literally to assist you in your day to day life but you could sell it for a high price. This precious metal is widely sought after by collectors and investors. Its value appreciates so it continues to become pricey as time passes. If you wish to procure some, you should look for stores where you could have a look at different products that have traces of gold. You could head to a jewelry store to get golden ornaments or contact those that are literally selling gold for a living. If you want to invest in gold but don’t want to do lots of hard work, you may search gold in roth ira 2016 online. That’s because firms that act as custodians offer gold that investors could pay for. It would be advantageous for you to purchase gold and have a company safeguard it for you because keeping gold inside of your home may be quite risky. Thieves may attempt to rob you or people whom you know may be inclined to steal from you when you’d have something inside of your house that has high value. That’s why, if you could, you should just let professionals take care of your gold for you.
Since you have to think of your retirement, you could try investing in some other things other than gold. That’s because you can’t really sell gold right away and you still have to bear in mind some other important things like your health. Because you could become deceased or diseased at any time, you could try putting your money in life and health insurance, respectively. When you’d have life insurance, you’d be covered when you’d die unexpectedly. With it, you could leave behind money for your loved ones to use in your absence. Health insurance, on the other hand, is one that you should pay for if you have the money for it. That’s because you could be hospitalized at any time for whatever cause and you may need medical assistance that are costly. This type of insurance can significantly cut down your hospitalization expenses so it’s worth getting.

Help For Single Mothers Through Grants

Today, there are still a lot of families who live below the poverty line. It is a very difficult task to try and make ends meet when the budget you have is really low. The tough economy we are feeling today also greatly affects the single mothers who are raising their children alone. Although single moms are having a tough time already, there are still some people who criticize them because a huge part of the governments beneficiaries are made of single moms. Nevertheless, the government still tries to do its best to have programs that will help single moms so that they can also raise their children well. Among the leading grants for single mothers are the ones you can find below.

1. Temporary Assistance For Needy Families or TANF – This is available to families who have very low income and it was created to help families by providing them with short-term financial assistance as well as job opportunities so that they can support their family in the long run. Financial support is provided to the family monthly so that they can buy their food, clothing and other essentials things they need. The monthly financial aid can last up to 60 months.

2. Supplemental Nutrition Assistance Program or SNAP – This was previously known as the Food Stamp Program and it was created to help provide needy families with healthy yet affordable meals. The families who belong to this program will be given a debit card that they can use to purchase food items in local grocery stores that are also in partnership with the program. In order for you to be a member of this program, you should go to a local SNAP office and fill out an application form there.

3. Women, Infants and Children Program or WIC – This program also involves providing nutritious food to pregnant women, mothers who had just given birth and to children who are under the age of 5. It is also one of the short term programs that the government has and will only last for about 6 months to a year.

4. Child Care Assistance Program or CCAP – This grant helps families who have a low income to be able to afford child care while they go and look for a job, work or go to school. The requirements for this program may vary from one state to another and you should check the income limit that your state has set.

5. Rental Subsidy – Families who can’t afford paying for rent can go and ask for vouchers to help them pay the rent. This is offered to low income families as well as those who are disabled or elderly. The voucher given to you will cover 70% of your rent as well as your utility bills. It is up to you to make up for the remaining 30%.

6. Low Income Home Energy Assistance Program or LIHEAP – This program is only given once to families with low income who don’t have money to pay for their utility bills. It can also include payment for energy-related repairs at home and weatherproofing the home.

Why You Will Want To Invest In Gold?

Investing your money is probably one of the wisest things that you can do with the funds that you have. Having an investment means that you will be able to gain income from your investments without you having to directly manage the investment or put in a lot of time and effort into it just to get a profit. This means that it is possible for you to just focus on one job and then have multiple investments in place which will allow you to earn extra income without having to tax your body more.

Now there currently are a lot of investment options that you can go for but of the multitude of investment options that you have, it is investing in gold that you will want to consider as one of the possible investments that you can put your money into.

There are a lot of good reasons why you will want to invest in gold and below are some of them.

Probably the main reason why you will want to invest in gold is that it holds its value very well. Other investments like shares of stock and real estate can have values that can drastically fluctuate from time to time. Also, these investments are closely linked to the economy so if another economic downturn should happen again in the future then there is a very good possibility that these investments will fall as well. Gold on the other hand has been considered as valuable for thousands of years now and that analysts say that this will be the same for many years to come. This results in gold being able to maintain its value better compared to other investments and that gold is independent of the state of the economy so with gold you will be able to have an investments that is considered to be lasting and resilient to devaluation.

The second reason why you will want to invest in gold is that while it is mentioned above that the value of gold does not go down; the value of gold does go up over time. Now the value increase of gold is not as drastic as what other investment forms may have, but the value of gold rises slowly but surely. This makes gold a great investment for the long term because if you are able to maintain the investment for decades or so then the value increase of gold will definitely pile up and will result in substantial profit.

Now the key to investing in gold is to have good financial institution or partner in your investment to make sure that you get the best quality gold and have as much ease and convenience in the investment that you will be making.

If you are looking for a reliable and high quality partner for your gold investment then Regal Assets is the service that you will want to partner with. Regal Assets offers a lot of variety when it comes to your gold investment options and is very much willing to provide you as much support and guidance as possible.
Read up on Regal Assets review if you want to learn as much as possible of the service.

Do You Want To Be In A Position Where You Can be Helping Single Moms?

Having a family and raising children is something that a lot of people hope to achieve in their life. With their own family, not only will they have companions that will potentially be with them for the rest of their life but having their own spouse and kids also gives these people a sense of fulfillment and purpose in life.

However, there are some individuals who raise their families alone. The fact is raising a family even with a spouse is already quite the difficulty and demanding task so raising a family as a single parent and possibly sole provider for the family is a responsibility that is many times heavier than doing it with a spouse.

If you have a lot of friends or relatives who are single mothers and you know the difficulties that they are going through then you most likely want to be able to be helping single moms in whatever way you can. While direct help to single mothers that you know is not always possible or feasible, simply letting them know about will already be of great help for them.

There are a lot of reasons why you will want to point your single mom acquaintances or relatives to the website.

One of the main reasons why you will want to do so is that the website is specially designed in order to provide as much help as possible to single mothers. The website has a lot of articles as well as tips that discuss the many problems and issues that single mothers may face throughout their life. With these tips and guides, a single mother will be able to better tackle whatever problems and issues that she may be facing in her life.

Aside from being able to get guidance as well as learn tips and strategies on how to better tackle life as a single mother; what’s great about is that it provides visitors with links to various financial grants and loans that are offered specifically for single mothers. The website has links to government as well as private entity grants for single mothers which includes housing loans and assistance, educational grants and scholarships, direct financial grants and loans and many more.

These grants will definitely transform the lives of the single moms whom you refer to the website. With financial grants a single mother will be able to get a much needed cash injection which will allow her to have the money that she needs in order to pay off any immediate standing debt or bills that may be troubling her. Educational and housing loans on the other hand will provide long term benefits for a single mother. The benefits of housing loans are obvious as a single mother and her child or children will now have the opportunity to stay in a better, well-appointed and much safer place. Educational grants on the other hand will help a single mother finish school and earn a degree which should provide more employment opportunities for her which should lead to better financial stability.

Using Custom and Cheaply Made Furniture: Refurbishing Your Lounge and Resto

Night life, a busy day for the busy night goer. Places like lounges, bars and restaurants get well noted to people more by the way they look, make the people feel and accommodated, the way the whole place if arranged and the vibes. And oh, of course, the customer and client service. If you are having an old establishment that needs refurbishing, you will have to deal with your inner design instincts, and if you are lacking one, you are welcome to hire some designers for it.

But if you are thrifty enough and want to gain more rather than hiring someone else, you can look for cheap materials that can be used to create a custom made furniture, tables, couches and chairs. Even the decorations can be custom built. You can navigate through the internet and even find suggestions and ideas there. There are tons of options that you can take.

You can take a visit into large stores that are open for sale. Look for trusted brands when it comes to appliances and materials you need to redecorate your business establishment. Some entrepreneurs even build themselves, and the best part is, there are a lot of easy to do tutorials and tips scattered all around the internet. For more info about this, you can watch the video below.