FAQs
WARNING: As we have not considered your financial situation, needs or all of your objectives please consider the below statement as general advice and that the material is provided as background information only. Any personal references are generic and before acting on any general advice, you must consider the appropriateness of the advice in light of your personal circumstances.
Q: I am putting aside money for my child every pay. What is the best way to ensure this money grows?
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Q: My wife and I are earning $13,500 per month after tax. We are both full time engineers and have no kids. We are early in our 40s. We have a mortgage of $325,000 in an owner occupied home and $350,000 in an investment home, nearly at completion stage (duplex). At the moment, rent is expected to be $400 per week. I have savings worth $50,000 in bank and close to $100,000 in both our Super. I don't have any debt. My credit card limit is $12,000 and $5,000 and I have no outstanding balance, month to month to pay. My question with this situation is whether we can afford another investment?
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Q: I am over 65 years old and have just taken a lump sum from my self managed super fund which is in pension phase. In previous years I made non-concessional contributions that in total comprised about 20% of the value of my fund when I took the lump sum. Do I have to pay tax on part of my lump sum?
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