LIC & LIT Listed Investment Companies (LICs) 2019

Discussion in 'Shares & Funds' started by Nodrog, 1st Jan, 2019.

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  1. SatayKing

    SatayKing Well-Known Member

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    Whoever has been buying ALI just back off. Bugger it.

    With luck whatever is going to happen to the markets today, it'll be down. Otherwise the only thing I have to look forward to is the forthcoming NSW election. I'll pop over the border and grab a sausage sanger - onions on top fingers crossed.

    Is that one of the untaxed beasts? If so, it apparently gets a bit tricky with tax if the member has preserved the benefit.

    I get your point and it's most annoying with the seemingly eternal shifting sands of tax and how/when it's applied. Being pretty simple in my approach, I tend to take a pragmatic approach and deal with whatever is the legislation currently in place. Trying to second guess how any legislation will finally look like and be enacted causes many sleepless nights.

    I feel various Governments have screwed around with super big time. Initially it was supposed to be part of retirement (age pension, super and private investment) and it was intended to be consumed to support retirement. Now it is a political football and super for many reasons is considered to be the replacement for age pension/private investment. My view it has now been completely distorted from the original concept. And so I'll play the game to some extent by reverting back to accumulation. If Government isn't going to require me to consume my retirement funds, I'll use it as far as possible as a wealth creation vehicle for my beneficiaries (that is my thinking at present.)

    In the meantime, I'll keep placing money on my personal account.

    As for chaos, well given your nick, shouldn't you welcome it?.........:D

    Take it easy peoples. The Sun is up and you're going to see it. Isn't that better than the alternative?
     
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  2. Burgs

    Burgs Well-Known Member

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    This might help.

    With the PSS, I suggest sending an email to them, they are usually pretty helpful.

    They have changed there website and are now called Commonwealth Superannuation Corporation www.csc.gov.au

    I printed this off before they changed from their old PSS website:

    When can a member claim their pension?
    All members (including members with a preservation age over 55) can claim a pension at age 55 provided they have retired from the workforce.
     
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  3. Nodrog

    Nodrog Well-Known Member

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    Speaking of sausage sandwiches, on the weekend at Bunnings they gave me onions on top. I drew attention to the issue stating that wasn’t allowed and that I was a news journalist. They all went white and froze:D. I then said I was joking to their relief and issued them with a “you’ve all done very well”:).
     
  4. Nodrog

    Nodrog Well-Known Member

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    Yep although not too bad for smaller balances. It also counts toward the members “overall” Super cap. The Libs created an administrative nightmare with the last round of changes.

    Probably best to seek advice. Be sure there’s no conflict of interest from the advisor. Best seek out one who is across Gov’t DB pensions as well as SMSFs.
     
  5. SatayKing

    SatayKing Well-Known Member

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    You're evil.

    The only way to be and I'm training to be even more so.:cool:

    Ouch! I knew from chats with some former public servants the pension side was included by multiplying the annual gross* by 16 but not that.

    Could be a bummer for some with larger balances. Even so, no matter what the balance may be it could put a little more on the need for creativity. Growing accumulation balance impacting on other external super. Awkward.

    Oh dear, let's get rid of the old RBL because it costs too much to maintain the system for each and every account balance and we don't get enough back to justify it so we'll introduce it in another format.

    Crazy, crazy times.

    * I don't think that is correct and it was the gross fortnightly pension but I cannot quite remember the details of the conversation. It's an age thing. Hmm, what did I have for dinner last night, baked beans on toast or pizza?
     
    Last edited: 20th Mar, 2019
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  6. Brumbie

    Brumbie Well-Known Member

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    After reading a bunch of Factsheets I got the screaming sheets and have decided to let someone else work it out and tell me. It is really complicated and it says you cannot rollover unless it meets certain criteria. They lost me at taxable taxed and untaxed taxable then apply the two possible offsets and don't take your SIS early but you can retire at 55 or 60 but then no offsets but be careful as all the 4 components are different blah,blah,blah.....
     
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  7. kierank

    kierank Well-Known Member

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    Can you stop taking this thread off topic :eek:!!!

    This is a LIC thread and it is continuously be de-railed by GOPs (Grumpy Old Persons) :D.

    Stop it or I will report you ;).

    BTW, did you enjoy your sausage?
     
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  8. SatayKing

    SatayKing Well-Known Member

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    Bloody Republican.
     
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  9. kierank

    kierank Well-Known Member

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    I was going to use GOWM or GOMW.

    But I thought GOP was better and would get a bite.

    It did :D.
     
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  10. SatayKing

    SatayKing Well-Known Member

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    No matter how beneficial or gold-plated there seems to be an inward groan.

    Whatever happened to KISS?

    All the best in getting the schmozzle sorted.

    And I'll be honest I had a giggle as it seemed familiar from past events with others. "Yea, I've got it all sorted and easy street ahead!!! Um, no it isn't. Drat."
     
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  11. SatayKing

    SatayKing Well-Known Member

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  12. Nodrog

    Nodrog Well-Known Member

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    Despite what Thornhill says, the likes of listed Property and Infrastructure (high distribution payout so in theory minimal growth) can also provide growth as well as high income. And potentially at times when other asset classes aren’t doing so well. Diversification, correlation and all that ... .

    Here’s Six Parks latest portfolio update. Note the highlighted performance of Listed Infrastructure and Property:

    E6E88E92-9A31-45CE-87B5-6CC5B4E4612B.jpeg

    https://www.sixpark.com.au/news/201...137546133&mc_cid=360143ba4f&mc_eid=1304a60b5e

    @SatayKing would also like you all to know that ALI is a “Infrastructure” LIC that generally trades at a sizeable discount to NTA:). And even more importantly SK would like to draw your attention to ALI’s NTA performance, 21% over the last year:) :):
    7CF843B6-5734-4CAB-B200-5917F45E4F2A.jpeg

    Not advice.

    PS: I waited till after ASX was open for trading to post this so hopefully SK got his wish for a lower price today and his order for the day filled at $2.15:cool:.
     
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  13. Brumbie

    Brumbie Well-Known Member

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    Haha. Yep. Hurdle thrown at me in the first 5 minutes. Excellent.
    Honestly my view is it better be really good because there is a cost to me in time for unnecessary complexity. It will be something that sits outside our structure and control like an annoying fly buzzing around our heads.

    As far as LICS go. I am happily chipping away researching and shortlisting to be ready to go when the regulatory uncertainty has dissipated. Not long to go.

    From Livewire this morning.
     

    Attached Files:

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  14. SatayKing

    SatayKing Well-Known Member

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    Really, there is only two things I've followed with PT - although it's many years since I read it, I did buy the recent edition of his book to hand to a couple of my children.

    The first was invest for income but now not specifically at a target and the other more underlying aspect which I gleaned was to have some EQ apart from money.

    As for ALI, I know now I feel I should have gone in a bit heaver earlier on when it was less than $1.90 and more than 15% below NTA.

    Pfft, fire up the beast and head to Mt Stomolo for a bite to eat and a stroll through the tracks. Better than ruminating.
     
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  15. Nodrog

    Nodrog Well-Known Member

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    Why would you want to roll it over to your SMSF after highlighting all the benefits?

    It’s really not all that difficult but like anything that’s new it seems that way.

    I just give the accountant my annual PSS Pension payee summary at tax time. It’s easy stuff for them. While it’s still a preserved benefit there’s nothing to do.

    What’s the main issue?
     
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  16. Nodrog

    Nodrog Well-Known Member

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    Awesome:cool:. One of life’s simple pleasures. No onion was dropped during consumption as I’m renowned for not wasting food.
     
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  17. Zenith Chaos

    Zenith Chaos Well-Known Member

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    Report @Nodrog to the onion police, police. That'll learn him. :D
     
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  18. Brumbie

    Brumbie Well-Known Member

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    I think i am over my dummy spit already. It was just unexpected and something new to worry about just when I was on a roll in consolidating all our (minimal) super. I will give it to accountant and he can advise when to do what. I will just focus on getting as much money into our SMSF as i can within the caps over the next 11 years whilst balancing our income needs in this period. I see why everyone is upset at all the changes to super. I am developing a plan and I am know sure there will be tinkering by every man and his dog who gets a vote, which will hurt my plan. Never had to worry about it before.
    All good.
     
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  19. kierank

    kierank Well-Known Member

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    Most people do nothing or plan to do nothing.

    A fair more stressful outcome awaits them, imho.
     
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  20. SatayKing

    SatayKing Well-Known Member

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    It all boils down to one thing I reckon @kierank.

    Don't worry about, it don't just talk about it and don't dither about.

    Just effing well do it.

    Decide, don't look back and have no regrets.

    Edit: I should delete this post as the above comments are way too harsh. As with most things, it all depends on the person's approach. Some see it and quickly take action, others take their time about it after going through a bit of stress and others who are simply lost require hand-holding.

    My apologies for any offense.
     
    Last edited: 20th Mar, 2019
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