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My Aus super fund was returning 12.5% has dropped to 9% in last 3 years, just as Im looking to switch to SMSF so I can buy IPs.
Given pensions will likely be benefits via WINZ (asset tested etc), its unlikely I can count on the $18k to be part of my retirement income, even though I paid my taxes too.
More so if I can fit in a house in KeriKeri, which will means low yield but as its my intended end game property, should I pay that off first? Before putting more post tax contributions into super to fund IP acquisition?
Im looking at approx 15 year terms and positively gearing properties to achieve that.
The older you get the more sense reducing your tax bill via Super post tax payments seems to make sense. But as IM not 100% on how it works once you retire I will have to contact a super specialist in Aus to help me out.
Does it matter if your cashflow comes from Aus property? In fact if NZ slips back to its old state of being 70-80c to the AU $, it could turn out rather positive?
I hate leaving NZ but I dont see many other options in the short time frame I have (13 years max). I see relying on a partner as not sensible given our divorce rates now. And Id never borrow money from family, I see that as an insult to my own work ethic.
Just curious if anybody else is going through these Aus Super decisions and have come to any conclusions on what to do?
Given pensions will likely be benefits via WINZ (asset tested etc), its unlikely I can count on the $18k to be part of my retirement income, even though I paid my taxes too.
More so if I can fit in a house in KeriKeri, which will means low yield but as its my intended end game property, should I pay that off first? Before putting more post tax contributions into super to fund IP acquisition?
Im looking at approx 15 year terms and positively gearing properties to achieve that.
The older you get the more sense reducing your tax bill via Super post tax payments seems to make sense. But as IM not 100% on how it works once you retire I will have to contact a super specialist in Aus to help me out.
Does it matter if your cashflow comes from Aus property? In fact if NZ slips back to its old state of being 70-80c to the AU $, it could turn out rather positive?
I hate leaving NZ but I dont see many other options in the short time frame I have (13 years max). I see relying on a partner as not sensible given our divorce rates now. And Id never borrow money from family, I see that as an insult to my own work ethic.
Just curious if anybody else is going through these Aus Super decisions and have come to any conclusions on what to do?
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