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Latest Q&A With Our Experts

James Carlisle Answered by James Carlisle 1wk ago

Can companies minimise impact of franking loss?

Are there avenues that corporations can take so that we do not lose our imputation credits in cash form if Shorten is successful? I recall regular share bonus issues from LICs that finished when imputation came in. Would a return to this offer us capital returns rather than imputation credits in cash but al t least letting us preserve something of our entitlement? Are there other mechanisms available to corporations?

Tony Kaye Answered by Tony Kaye 2wks ago

Depreciation deductions on investment properties

Thanks to Tony on his answer to my question on the new Labour policy however I must have worded the question poorly as he understood that I was asking about my own personal situation. Please allow me to rephrase the question; Is it mandatory to claim depreciation and reduce the cost base of an investment property or can you choose to not claim the deduction which will result in a future lower capital gain (all other things being equal). The ATO site seems to always indicate that you "can claim" but never "must claim". Many thanks, Mark

Bruce Brammall Answered by Bruce Brammall 2wks ago

TTRs and recontributions

I read Bruce Brammall's most interesting TTR article and wonder about its application. Let me see if I have this right. A 70 y/o works part-time and meets the work/hour per month criteria. He is not drawing any TTR or pension. His employer is making 100% pre-tax salary sacrifice to his fund. (He has other income) From the article, it would seem the person can withdraw from his fund, say on 1st June, and recontribute that amount, minus the amounts sacrificed, up to $25,000. This then reduces his taxable income accordingly. Is this correct? Appreciate your consideration.

Tony Kaye Answered by Tony Kaye 2wks ago

Pre-tax dividends

If Labor franking credits policy takes place late 2019 it will mean a substantial reduction in income for many of us - over 20% in our case. Do institutions that provide franking credits, which includes the majority of the ASX200, have the discretion to pay pre-tax dividends? Eg instead of paying $700 with $300 franking credits, they simply pay $1000 pre tax and leave it up to the shareholder to deal with the tax issues.

James Carlisle Answered by James Carlisle 2wks ago

What strategy with no franking credits?

In a SMSF in retirement, with no more super deposits being made, and all stocks held being fully franked....what strategy would you recomend if franking credits are no longer going to be cash refundable ?

Max Newnham Answered by Max Newnham 4wks ago

Lending between SMSFs

With two smsf due to the changes, can one super fund borrow from another instead of from a bank?

Graham Witcomb Answered by Graham Witcomb 1mth ago

Which stocks are Infrastructure stocks and which do you recommend?

I read that Infrastructure stock pay a reasonable dividend. Which stocks are Infrastructure stocks and which do you recommend?

Tony Kaye Answered by Tony Kaye 1mth ago

The age pension dilemma

In the current debate about the franking credits I have not heard anybody pointing out how much money the government saves by not having to pay a pension to these people who look after themselves by way of having set up a self-managed superannuation fund. It is also not mentioned that in a low interest paying environment people have to invest money in asset classes, such as shares that are risky. Fees associated to comply with the complex rules, such as accounting fees, audit fees, financial advisors, further reduce the net income from the investments and in my case it is the annual franking credit that enables me to pay for all these fees and help to pay for health care and other costs associated to old age. If the Labour Party wins the election and forms government then I will draw the money from the super fund, spend some, give away some to my children and grandchildren and go onto the government pension. Perhaps I am not the only one. It would be interesting if someone would come up with a calculation that shows how much money a self funded retiree has to invest to just get the same return as a person who has saved nothing and gets the government pension. Why is all this never mentioned in this debate?

James Carlisle Answered by James Carlisle 1mth ago

Companies paying unfranked dividends

Hi, With all the publicity about Labour's plan to deny franking credit refunds to people with no tax liability can II please look at the best of the companies yielding unfanked dividends (an example might be Sydney Airport). This may enable your retired subscribers to get ahead of the curve so we are braced and ready if this cash grab becomes law. Thanks

Tony Kaye Answered by Tony Kaye 1mth ago

Transferring tax credits in an SMSF

In the light of the proposed ALP policy of cancelling refunds of imputed dividends, would the following be possible. Can an SMSF tax paid by members still working and in accumulation mode be used to claim the imputed returns of those in pension mode?

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