I'm in a bit of a dilemma here.
I currently have an account with Colonial FS in their 'Managed Investment Fund' category, which has limited options for where I put my money, and who manages it.
CFS also has a 'First Choice Investment' account, with a wider range of managers, and marginally lower fees, and a couple of other things which makes it more attractive for the long term.
I have a 'low' income this year financial year due to being a student and span the $30k margin. I will be under this margin once all my expected deductions are punched in (Working student FTW!), so additional income is taxed at a slightly lower rate than it will be next year.
I want to move the money from my MIF into a new FCI account, and this will attract CGT. It will be wise to move it this financial year due to the deductions and income and tax brackets blah blah blah.
Do I:
- Move it now?
- Wait until the market has picked up a bit and cash out?
- Wait until the next distribution is paid?
- Move it in June (makes full use of CGT reductions?)?
- Move it in July (Attracts more tax)
- Leave the money where it is, and put future invesments into the FCI account?
- Do something else?
I currently have an account with Colonial FS in their 'Managed Investment Fund' category, which has limited options for where I put my money, and who manages it.
CFS also has a 'First Choice Investment' account, with a wider range of managers, and marginally lower fees, and a couple of other things which makes it more attractive for the long term.
I have a 'low' income this year financial year due to being a student and span the $30k margin. I will be under this margin once all my expected deductions are punched in (Working student FTW!), so additional income is taxed at a slightly lower rate than it will be next year.
I want to move the money from my MIF into a new FCI account, and this will attract CGT. It will be wise to move it this financial year due to the deductions and income and tax brackets blah blah blah.
Do I:
- Move it now?
- Wait until the market has picked up a bit and cash out?
- Wait until the next distribution is paid?
- Move it in June (makes full use of CGT reductions?)?
- Move it in July (Attracts more tax)
- Leave the money where it is, and put future invesments into the FCI account?
- Do something else?
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