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Attackpoint - performance and training tools for orienteering athletes

Discussion: Super

in: tRicky; tRicky > 2016-03-08

Mar 8, 2016 9:42 AM # 
Given you're an accountant and you have a formidable tax advisor (I was going to say "close to hand" but that might be inappropriate), why not an SMSF? Give you something to strategise about on those long bike rides. I think I can predict a mining company you won't buy into (if there's anything left).
Mar 8, 2016 9:47 AM # 
I spend all my time on the computer drawing maps and being on AP. I don't want to add watching the stock market to that :-) (just like I didn't want to add 'beating Bryce's Strava times to my list of Time Wasted On The Internet')

Also {name withheld for legal purposes} isn't a tax advisor and can no more give me tax advice than I can give her (or him) advice on how to amputate her (or his) foot.

Also as my super advisor person told me this morning, the 0.5% commission that they were charging (which Paladin used to reimburse before they retrenched me) is now being decommissioned by the government so I won't be paying it anymore, hooray! I will, however, be paying income protection insurance, even though it doesn't cover me whilst I'm unemployed. Sad but true.
Mar 8, 2016 9:50 AM # 
Mind you, I have loads of investments outside of super so it's not like having a SMSF would be any different. All I'd need to do is keep doing what I'm doing, except with super money.

Dreamweaver, I commend you for showing me the way. Now I just have to figure all this out.
Mar 8, 2016 10:04 AM # 
That's OK - I knew you had nothing better to do :-)
Mar 8, 2016 10:12 AM # 
BTW I was taught that if you're watching the stockmarket every day, that's trading not investing. Both perfectly legitimate activities, even within a SMSF, but the distinction needs to clear and understood (and I understand the legal stuff around an SMSF has to allow both).
Mar 8, 2016 10:26 AM # 
btw ricky if u wanted something outdoors or sporting - personal trainer then you can tell people to train harder every day :P
Mar 9, 2016 2:33 AM # 
Don't know if that'd pay the bills.

DW, we had this client at my first accounting job that was a "trader" when he wanted to offset his losses (from one stock) against his income but then conveniently held his other shares on capital account so he could get the CGT discount - though he only held about two or three different company shares to begin with and only traded every couple of weeks. It really frustrated me but the boss told me to do it so not much I could do about it, other than to eventually quit.

This discussion thread is closed.