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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Can I renovate the residential property I own through my SMSF?

By Peter Burgess, SuperConcepts · February 11 2016

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Invest

Can I renovate the residential property I own through my SMSF?

By Peter Burgess, SuperConcepts
February 11 2016

Reading:

Can I renovate the residential property I own through my SMSF?

By Peter Burgess, SuperConcepts · February 11 2016

Reading:

If your SMSF owns the property outright – that is, your fund has not borrowed to purchase the property – it is possible to renovate or improve the property.

However, if your fund has borrowed to purchase the property (commonly referred to as a limited recourse borrowing arrangement) and the loan or security trust is still in place, you are only able to make improvements/renovations that do not change the character of the property.

The ATO classifies this as when the character of the asset has been fundamentally changed. For example, a residential house that is converted into a restaurant or a vacant block of land that is subsequently subdivided resulting in multiple titles.

If the renovations/improvements are not financed by the SMSF, but rather are financed by the members themselves or another entity, the value of the improvement/renovation will generally need to be recorded as a contribution made to the fund and will count against the contribution caps.

It is important to note if the renovations are being undertaken by a builder who is a related party of the SMSF, the goods and material required to undertake the renovation should be purchased by the SMSF trustees directly from the supplier and not from the related party builder.

The issue here is the rule that prevents an SMSF trustee from acquiring assets, except for some limited exceptions, from a related party. A breach of the rules will occur if the related party builder purchases the goods and materials directly from the supplier and then invoices the SMSF trustees for the cost of those purchases.

As an alternative to the SMSF trustees purchasing the goods and materials directly from the supplier, it is permissible for a contract to be put in place between the related party builder and the SMSF trustees, such that the related party builder purchases the goods and materials as an agent of the SMSF trustee.

If you are thinking about renovating a property owned by your SMSF, you should consider seeking professional advice from a qualified financial adviser.

Peter Burgess, general manager, technical services and education, SuperConcepts