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Edition: 118

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Edition 118

  • 17 July 2015

Racehorse investing and breeding, recession patterns, updating your investment philosophy, effects of pension reforms and the benefits of low turnover funds.

Let’s debunk this myth about SMSFs and global shares

According to the ATO, SMSFs only hold 0.5% of their portfolios in global shares, despite the institutional average being over 20%. A closer look at the ATO data sources reveals that this statistic is most unreliable.

Are recessions a thing of the past?

Less than half of today's workforce has experienced a proper recession, but in the absence of serious reform and vision, Australia may break its 25 years of economic growth.

Even Buffett has evolved from Ben Graham

Ben Graham’s brilliant investment insights have served investors well since the 1940s, including Buffett. But many companies are different today and it makes sense to update and move on.

Study the pension reforms with great care

Under the current pension reforms, changes to the asset test taper, which are designed to reduce the entitlement of part-pensioners, will also hit ‘downsizers’ and people moving into aged care hard.

The benefits of low turnover for after-tax outcomes

In Australia, fund manager performance is most often assessed on pre-tax returns. But a low portfolio turnover can potentially provide better after-tax returns relative to a high turnover actively managed fund.

The economic reality of breeding and owning racehorses

Before you jump in and invest in that racehorse with its potential Group 1 winnings and breeding credentials, here is a reality check on your dreams of fame and fortune from someone in the know.

Hockey on super at Tax Reform Summit

Joe Hockey made strong statements on super reform this week: "Superannuation policy is incredibly complex ... So adding to the complexity by laying on new additional changes is daft."

Most viewed in recent weeks

Testamentary trusts post-budget: Estate planning, tax reform and the ‘death tax’ debate

Proposed Budget changes to taxation are casting new uncertainty over testamentary trusts, prompting closer scrutiny of estate planning structures and the real implications of reforms still taking shape.

High quality businesses are on sale

Beneath the dominance of the ASX's largest stocks, much of the market has been left behind. High-quality companies are now trading at levels rarely seen, offering opportunities for investors willing to look deeper.

Meg on SMSFs: The CGT changes don’t impact super but what about Div 296 tax decisions?

New CGT rules could tip the scales in the super vs non-super debate. For those facing the Division 296 tax, the case for withdrawing has gotten more complex. A "comparison rate" tool may help assess decisions.

The strange effect of the 30% minimum capital gains tax

The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.

Ranking three common retirement strategies

The defining challenge of retirement isn't just about building wealth, it's about converting your lifetime savings into sustainable income. A holistic understanding of different strategies can improve long-term outcomes.

Welcome to Firstlinks Edition 667 with weekend update

The downfall of the giant and three lessons for investors.

  • 18 June 2026

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