Regarding the tax issues, maybe this may be helpful to some AJA securities holders.
For people sixty years of age over. By holding these units in the super fund that is in the pension stage, either Transition to Retirement in case you are still working or Allocated Pension in case you are not, you do not have to worry about the complexities of the Ausie tax law and international treaties as all the profits of your fund are tax free, providing the fund pays you some TAX FREE pension.
The Transition to Retirement pension is minimum 4% (reduced to 2% for last and this year because of the GFC) and maximum of 10% of the value of the fund as of your last tax return.
Allocated Pension has same minimum withdrawals, no max as far as I am aware and in any case you can withdraw lump sums as well. In fact you can take all your money and spend it.
Just do not give it to anybody like your kids or your sick sister, any amount over $10,000 would reduce your entitlement to old age pension. But waterfront mansion is perfectly acceptable as long as it is your principal price of residence. Any capital gain you might make on it when you sell it will also be tax free. Don't you just love the fairness of it all.
Brian.
AJA Price at posting:
$3.60 Sentiment: Hold Disclosure: Held
