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Paul Benson is a Certified Financial Planner, and host of the Financial Autonomy podcast.

I’m about to receive my inheritance. Will I have to pay tax on it?

I’m about to receive my inheritance. Will I have to pay tax on it?

Inheritances are given a generous tax treatment in Australia, but if you invest the money, that’s a different story.

  • by Paul Benson

Latest

We just switched our super to an SMSF. How should we invest it?

We just switched our super to an SMSF. How should we invest it?

Investing something as important as your life savings requires a great deal of careful thinking.

  • by Paul Benson
Should I ditch my low earning, but ‘safe’ investments?

Should I ditch my low earning, but ‘safe’ investments?

Sharemarkets are booming now, but historically markets have fallen about one in every four years, so be careful before jettisoning safer assets.

  • by Paul Benson
We’re selling our holiday home - can we put the proceeds into our super?

We’re selling our holiday home - can we put the proceeds into our super?

A super top-up using the proceeds from your house sale is possible, but you need to be mindful of the size and timing of contributions.

  • by Paul Benson
How do I plan for retirement when I don’t know what I’ll inherit?

How do I plan for retirement when I don’t know what I’ll inherit?

It can be helpful to have a conversation with your parents about their intentions for their estate, which can make planning easier.

  • by Paul Benson
I lost a lot of money while investing. Will it reduce my tax bill?
Opinion
Income tax

I lost a lot of money while investing. Will it reduce my tax bill?

Capital losses can only be applied against capital gains, so you if you’ve incurred a significant loss it might be time to sell some assets.

  • by Paul Benson
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What should our nephew do with our $21,000 gift?

What should our nephew do with our $21,000 gift?

Locking your gift away inside the First Home Super Savers scheme would be a smart move for your nephew.

  • by Paul Benson
Should we sell or rent our elderly mother’s house?

Should we sell or rent our elderly mother’s house?

Doing the calculations on the cost of renting versus selling a property can be necessary so you don’t get slugged with surprise taxes.

  • by Paul Benson
Why does my friend get a bigger age pension than I do?

Why does my friend get a bigger age pension than I do?

While it may seem like your friend is getting a better deal, in the long run, you’re likely to find yourself better off.

  • by Paul Benson
If we use super to help our kids buy a house, can we top it up later?

If we use super to help our kids buy a house, can we top it up later?

Early inheritance is always a good idea, but make sure you can afford to give away the money first.

  • by Paul Benson
The self-managed super fund I was told to start is losing money. What do I do?

The self-managed super fund I was told to start is losing money. What do I do?

Generally, SMSFs don’t make sense unless there is a specific investment case that requires them, or your balance is above $1 million.

  • by Paul Benson

Original URL: https://www.watoday.com.au/by/paul-benson-p536xj