AdvicePlan in Moorabbin, Victoria, Australia | Bank

AdvicePlan

Locality: Moorabbin, Victoria, Australia

Phone: +61 3 9772 1004

Address: Suite 213, 12 Corporate Drive 3199 Moorabbin, VIC, Australia

Website: http://www.adviceplan.com.au/

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24.01.2022 AdvicPlan SMSF Mybusters Myth 6 I can run my business through my SMSF. When addressing this issue the ATO looks at the activities of the trustee rather than whether a business is being carried on in the fund. The ATO has identified a number of arrangements that it considers would be a breach the sole purpose test, these include:... 1. When a trustee employs a family member, the reason behind this and level of salary paid 2. When the business is a hobby or pastime 3. When the business has links to associated trading entities 4. When the funds assets are being made available for the private.benefit and use of members or related parties Many funds hold business real property such as factories, shops or farms in their SMSFs and lease them back to a related party. This is acceptable under the rules and as close as most trustees will go to involving their business in their fund. Carrying on business activities in a fund may potentially breach a variety of rules, trustees should exercise caution and seek professional advice before proceeding The more complex the strategy always leans toward receiving specialist advice, feel free to contact AdvicePlan to discuss your situation

24.01.2022 AdvicePlan Mythbusters Myth 7: Money in my SMSF is mine and I can access it anytime I like. Like any other complying super fund, SMSF monies are preserved until a member satisfies a condition of release. This is an event which enables you to access some or all of your super benefits. Examples include satisfying the retirement definition, reaching 65 years of age, permanent incapacity or terminal illness.... A breach of the preservation rules can result in trustees being liable for fines as well as the fund being made non-complying. This means the top rate of tax would be charged on taxable contributions and fund earnings. Thats almost half of the entire value of the fund owed to the taxman. See more

24.01.2022 AdvicePlan SMSF Mythbusters Myth # 5 When is a SMSF an appropriate appropriate strategy? In essence, the issues are relatively simple: if you wish to do something with your super that you can only do in an SMSF, then you simply must have one. If what you want to achieve can be done other than through an SMSF, why go through the hassle and expense of creating and maintaining one?... So, what things can you only do with an SMSF? 1. Sell an asset to a member; 2. Buy an asset from a member; 3. Invest in direct real estate; 4. Borrow money. 5. Share ownership of an asset with another super fund member. Thus, if you wish to embark on any or all of the above strategies, you need to have a self-managed super fund to do so. In this case, the only way in which account balance becomes a relevant consideration is to determine if you have sufficient assets in superannuation to successfully undertake the desired strategy, as opposed to whether or not you have enough super to have an SMSF, an issue often raised by other commentators. In reference to the myth that you need an SMSF to buy and sell shares, admittedly, doing so via a public offer fund limits your capacity to manage capital gains tax implications and control corporate

24.01.2022 AdvicePlan Mythbusters Myth #8 Surely I can live in my holiday house that is owned by my SMSF as long as I pay the fund rent at market rates. If a holiday house is used for the benefit of members or their friends or relatives, that use or benefit would breach the sole purpose test and could cause the fund to incur a number of penalties. That is, these parties cannot have personal use or enjoyment of the asset.... Broadly, the sole purpose test requires that a fund is established and maintained for the sole purpose of providing benefits to its members on their retirement, or to a members beneficiaries in the event of their death. Even if a market rate of rent was paid by the member this would still be a breach because an SMSF cannot have a lease arrangement with a related party unless it comes under one of the exceptions such as a lease on business real property See more

23.01.2022 AdvicePlan Mythbusters Myth #9 When is a SMSF an appropriate strategy? In essence, the issues are relatively simple: if you wish to do something with your super that you can only do in an SMSF, then you simply must have one. If what you want to achieve can be done other than through an SMSF, why go through the hassle and expense of creating and maintaining one?... So, what things can you only do with an SMSF? 1. Sell an asset to a member; 2. Buy an asset from a member; 3. Invest in direct real estate; 4. Borrow money. 5. Share ownership of an asset with another super fund member. Thus, if you wish to embark on any or all of the above strategies, you need to have a self-managed super fund to do so. In this case, the only way in which account balance becomes a relevant consideration is to determine if you have sufficient assets in superannuation to successfully undertake the desired strategy, as opposed to whether or not you have enough super to have an SMSF, an issue often raised by other commentators. In reference to the myth that you need an SMSF to buy and sell shares, admittedly, doing so via a public offer fund limits your capacity to manage capital gains tax implications and control corporate actions. However, it is academic as to whether the value of these benefits justifies the expense and other obligations necessary for the maintenance of an SMSF. In summary, if you think you want or need an SMSF to achieve your objectives with your superannuation, seek professional advice to determine if it is, in fact, necessary for those objectives. Furthermore, if an SMSF is recommended to you, ask what it is about an SMSF that leads to the recommendation. In short, if youre going to establish an SMSF, make sure youre doing it for the right reasons See more

23.01.2022 Beautiful Chelsea

22.01.2022 AdvicePlan's spotlight on local businesses in Chelsea We always like promoting great business ideas and owners Janak Tiling is headed by Jason Kerambrun a friend of AdvicePlan and an expert tiler with over 15 years’ experience... Jason is a trusted specialist, where you have to see his work to believe it, plus has completed projects for friends and family of AdvicePlan members (so we know how good he is !) At AdvicePlan we believe in supporting local small business, so why bother opening the yellow pages when you have an expert in the area? Now that The Block is over, it’s time to get started on those new ideas so give Jason a call Jason Kerambrun 0415 851 558

20.01.2022 Hi everyone, As Ferris Bueller famously said" Life moves pretty fast. If you dont stop and look around once in a while, you could miss it" We know it can be hard to keep a track of your finances and financial goals, it only takes one step to get the ball rolling Feel free to contact AdvicePlan to discuss your goals for today , tomorrow and the future

18.01.2022 Adviceplan Directors Justin Bridger and Matthew Carnegie attending 2014 Synchron conference Very proud to be representing a Chelsea business in the USA

17.01.2022 Attending Synchrons Professional Development day Aged Care seminar Very relevant topic given todays ageing population and the advanced in modern medicine allowing us to live longer

17.01.2022 At Adviceplan we always get asked the question "Guys, can I just have some basics to read about Self Managed Super Funds?" Found this excellent article this article courtesy of ASIC that I found excellent reading and quite common sense Drop is a line or come and come in and see us if you have any questions , as we are always here to help... https://www.moneysmart.gov.au//self-managed-super-fund-smsf

16.01.2022 The AdvicePlan news update for March 2015 is here in our new format. We are in interesting times so plan ahead with your Finances, Super and Investments. Apathy is a great killer of your investments so take an interest.

14.01.2022 AdvicePlan Directors attending Eureka International Equities conference

13.01.2022 Did you know ? If you repaid $100 per week of a $300,000 Home Loan at 5.7%pa for 30 years , you would save $138,311.53 and strip 11 years from the life of the loan? Analysis below ... - Loan Amount - $300,000.00 - Interest Rate - 5.70 % - Loan Term - 30 yrs - Payment Frequency - Weekly - Extra Weekly Repayment - $100.00 Results - Current Weekly repayments - $401.54 - Updated Weekly repayments - $501.54 - Original total amount - $626,405.88 - Updated total amount - $488,094.34 - Interest you will save - $138,311.53 - Time you will save - 11 years 3 months - Updated loan term - 18 years 9 months

13.01.2022 Attending SMSF Strategies Day presented by Grant Abbott

13.01.2022 No better time to take control of your retirement savings savings http://advantplus.com.au/adviceplan/3531

13.01.2022 New Banner out front of office

12.01.2022 Our new addition to the AdvicePlan team Abby Dew! Welcome aboard Abby!

10.01.2022 Hello from AdvicePlan This is an easily digestible synopsis of the recent controversial Federal Budget, somehow i dont think we have heard the end of this.... stay tuned http://eread.com.au/adviceplan/1405fhss

09.01.2022 Never too early to start your tax planning!

09.01.2022 AdvicePlans spotlight on local businesses in Chelsea We always like promoting great business ideas and owners Janak Tiling is headed by Jason Kerambrun a friend of AdvicePlan and an expert tiler with over 15 years experience... Jason is a trusted specialist, where you have to see his work to believe it, plus has completed projects for friends and family of AdvicePlan members (so we know how good he is !) At AdvicePlan we believe in supporting local small business, so why bother opening the yellow pages when you have an expert in the area? Now that The Block is over, its time to get started on those new ideas so give Jason a call Jason Kerambrun 0415 851 558

08.01.2022 Hello AdvicePlan followers Sharing with you all a terrific Chelsea Husband and Wife run butcher Terrific produce prepared by a real butcher Have heard so many complaints about how poor Coles and Woolworths quality in meats can be, now there is a clear choice Go in and experience it for yourselves and get to know your local Butcher

07.01.2022 http://advantplus.com.au/adviceplan/3552

03.01.2022 Hi everyone Thought I would put together a series on some myths surrounding Self Managed Super Funds Hope you enjoy this, and always if you have any questions please dont hesitate to contact us http://advantplus.com.au/adviceplan/3562

03.01.2022 Crowd favourite Robert Gobbliebsen

02.01.2022 Did you know ? If you repaid $100 per week of a $300,000 Home Loan at 5.7%pa for 30 years , you would save $138,311.53 and strip 11 years from the life of the loan? Analysis below ... - Loan Amount - $300,000.00 - Interest Rate - 5.70 % - Loan Term - 30 yrs - Payment Frequency - Weekly - Extra Weekly Repayment - $100.00 Results - Current Weekly repayments - $401.54 - Updated Weekly repayments - $501.54 - Original total amount - $626,405.88 - Updated total amount - $488,094.34 - Interest you will save - $138,311.53 - Time you will save - 11 years 3 months - Updated loan term - 18 years 9 months