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Paul Benson

Paul Benson

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

Deciding where to put your inheritance when you’re young can be a tricky decision.

I’m in my 30s and Dad is gifting me $50,000. What should I do with it?

Superannuation is often a good place to stash an early inheritance, but if you’re young, there are likely better places it could be put to use.

  • Paul Benson

Latest

Having a big nest egg is nothing to worry about.

Will I have to pay tax on my super if it grows over $2 million?

The transfer balance cap limits the amount you can transition into pension mode but it doesn’t apply to growth within your fund.

  • Paul Benson
Checking on your SMSF every day won’t make it go up, and is actually likely to result in sub-par outcomes.

With all the new tax changes, is it time to start an SMSF?

The CGT and trust changes might make self-managed super more appealing, but there are still plenty of potential pitfalls to be aware of.

  • Paul Benson
Setting up a super account for your kids might not be the best move.

Should we set up super accounts for our pre-teen kids?

Rarely when talking about children and finances does the topic of super come up. And that’s usually for a good reason.

  • Paul Benson
If your money is in superannuation you can rest easy – there’s very little in this budget that will change for you.

I own no investment properties or trusts. Will the budget affect me?

Last week’s budget came with a lot of talk about shifting wealth from older Australians, but for many retirees, very little will change at all.

  • Paul Benson
As more and more parents help their kids into the housing market, situations such as these will become commonplace.

We helped our daughter buy a house. Will we have to pay CGT?

If you’ve put your name on the title, there’s not a lot you can do to avoid paying capital gains tax.

  • Paul Benson
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Passing on money to your children can be a tricky process.

I want to give $65k to my teenage kids. How do I stop them spending it?

There are simple ways to pass on inheritance to your kids, but they may involve you paying some form of tax.

  • Paul Benson
Unfortunately, even once you pass, you still have to answer to the tax man.

Will my kids have to pay a ‘death tax’ on my super?

There are ways to avoid the so-called “death tax”, but if you get the timing wrong, your returns could suffer.

  • Paul Benson
The NSW town of Forster is a good spot to own a beach house.

Should we build a house down the coast, or just rent one instead?

From a life satisfaction point of view, there is significant upside to owning your coastal retreat, even if it’s not the most sensible move financially.

  • Paul Benson
A testamentary trust for each of your children may be of value here to protect what you pass on.

I’m 58 with terminal cancer. How can I maximise my kids’ inheritance?

If leaving a legacy for your children is important to you, there are a few key things to get across before you go.

  • Paul Benson