Two for the money

Article Abstract:

Investors have two options to reduce taxes on their capital gains. Capital losses can offset gains subject to tax, and the tax payable on net gains can be reduced. Australians can follow the US practice of transferring assets by gift or off-market sale to a company, spouse, or trust fund that can trigger a capital loss. The deadline for these procedures in the end of the tax year, Jun 30.

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Global warning

Article Abstract:

Australian companies have moved away from defined benefits pension plans, and problems being experienced by UK and US plans serve as a warning for the future of these plans. In the US, the Pension Benefit Guarantee Corporation ensures that benefits are paid even if company assets have fallen short.

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Smoothing the lumps

Article Abstract:

Retirees can reduce their lump-sum tax penalties by converting funds to an allocated pension.

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