In this Q&A episode, Stuart covers several insightful financial scenarios, delving into when it makes sense to wind up a self-managed super fund (SMSF), strategies to manage capital gains tax (CGT), and guidance on property purchases to assist children in building wealth. Stuart examines how an SMSF with a lower balance can sometimes lead to higher costs, suggesting alternatives that may offer reduced fees and potentially better returns. Additionally, he addresses CGT concerns, highlighting tactics that can mitigate tax impacts for those facing a large one-time gain.
A key takeaway is Stuart’s advice on supporting children’s property ownership; he explains the importance of timing, tax implications, and encouraging financial independence. His pragmatic approach underscores the need to weigh both the emotional and financial costs of early assistance, as well as the importance of financial education and empowerment. Stuart’s insights provide actionable steps for listeners at various stages of their financial journeys. Whether you’re looking to optimise your SMSF, reduce CGT, or invest for future family needs, this episode offers valuable guidance.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
