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Benchmark Financial Services

6 days 10 hours ago


In a recent report, ASIC has raised particular concerns about people being encouraged to set up an SMSF (Self Managed Super Fund) with the narrow purpose of investing in property.

"The strategy of gearing through an SMSF to invest in property, which is being actively promoted by 'property one-stop shops', is high risk," the report said.
"Our results suggest that, in many cases, this is likely to result in financial detriment to SMSF members".

These one-stop shops typically involve real estate agents, developers, mortgage brokers and accountants.

We believe that there is nothing wrong with property investment, however it should be part of wider, well-considered strategy involving diversification (multiple asset classes) to spread risk.
Generally it would not be appropriate to have one asset (such as a property) making up the entire value of a Super Fund.

Benchmark Financial Services

1 week 5 days ago


From 1 July 2018, those aged 65 or over may be able to use the proceeds from the sale of their home, to make a downsizer contribution of up to $300,000 each into superannuation (subject to complying with some finer details).
In our animation (link below), we take an in-depth look into the Downsizing Measure.

Benchmark Financial Services

2 weeks 6 days ago


We have discussed cryptocurrencies before and how they are made possible through a system/process known as 'blockchain'. Below (click for the full view) is a great infographic (courtesy of global money manager, Franklin Templeton) which describes the blockchain system.
In simple terms, blockchain is a decentralised distributed ledger that records transactions in a secure manner.

Benchmark Financial Services

3 weeks 4 days ago


General Electric is set to lose its place as the last-standing member of the 1896 Dow Jones industrial average. When the index was started in 1896, GE, just a four year old company, was one of the original members. For more than a century, it has consistently held a place in the Dow as one of America’s industrial titans. S&P Dow Jones Indices announced Tuesday that drug retailer Walgreens Boots Alliance would take the industrial conglomerate's place on June 26, to make the index more representative of the economy in 2018.
Also, GE's stock had plunged by nearly 80% from its 2000 highs, and it accounted for less than 1% of the Dow's weight.

Benchmark Financial Services

3 weeks 6 days ago


High property prices have made owning a home unattainable for many prospective first‑time buyers. But the First Home Super Saver scheme, passed by the Australian Government in December 2017, may help keep the dream of buying your first home alive.

The scheme helps you save for your first home by allowing you to use the concessionally taxed superannuation environment to build a house deposit. Eligible voluntary contributions are limited to $15,000 in any one financial year and $30,000 across all financial years.
You can withdraw eligible contributions, plus associated earnings, from 1 July 2018 to buy or build a first home.

You have up to 12 months from the time you receive the first amount from Super to sign a contract to buy or build a house.


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