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29 December 2025
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SMSFs v Labor franking, non-bank SME loans, disruption, business property in SMSFs, Active ETFs, 10 hints on managers, bare trusts and prospect theory.
Labor’s proposal to deny cash refunds of franking credits may become law next year. SMSFs will consider the various alternatives to minimise loss of franking credits, including the use of member-directed investments.
Changes to banking regulations have led to higher interest rates on bank loans for SMEs and personal loans, pushing borrowers towards the rapidly growing new segment of non-bank lending for faster and better service.
Markets and assets look expensive, but technology at least offers high revenue growth and fast rates of adoption. However, much of that great promise may benefit consumers more than investors.
An SMSF can buy business real property and lease it to a member and the laws and processes are clear. The rent paid is classed as income from the investment rather than a contribution from the member.
Active ETFs have many similarities with actively-managed funds, but the key differences are due to investing via an exchange versus a platform. Investors now have another option to consider.
Notwithstanding the wide variety of fund managers and fund structures vying for the investor dollar, some questions need to be asked of all of them. They help us determine the quality of the fund and the manager.
In traditional economics, utility theory assumed that investors work off probability-weighted outcomes. Prospect theory can better explain actual investor behaviour and is a better tool for designing retirement plans.
‘Single-investor’ models are convenient for a range of investments. A bare trust can be a cost-effective and simple way to let a small number of sophisticated investors access an investment through one legal entity.
Retirement isn’t a clean financial arc. Income shocks, health costs and family pressures hit at random, exposing the limits of age-based planning and the myth of a predictable “retirement journey".
The superannuation system has succeeded brilliantly at what it was designed to do: accumulate wealth during working lives. The next challenge is meeting members’ diverse needs in retirement.
Two years ago, I wrote an article suggesting that the odds favoured ASX shares easily outperforming residential property over the next decade. Here’s an update on where things stand today.
I am a professional real estate investor who hears a lot of opinions rather than facts from so-called experts on the topic of property. Here are the largest myths when it comes to Australia’s biggest asset class.
In an interview with Firstlinks, CEO Mark Freeman discusses how speculative ASX stocks have crushed blue chips this year, companies he likes now, and why he’s confident AFIC’s NTA discount will close.
It might not be quite an ‘everything bubble’ but there’s froth in many assets, not just US stocks, right now. It might be time to stress test your portfolio and consider assets that could offer you shelter if trouble is coming.