Recent content by secret squirrel

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    Discretionary / Family Trust -finite life?

    I hear ATO ask questions recently of Chan and Naylor about hybrids. What outcome Mr Chan. Did ATO say ok ?
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    GST on Developments??

    not so simple am afraid as letitha. gst different for developers. first ask can you use margin scheme or not. depends on lots of facts. if so might be good. depends residential or commercial whether other party want it and how you buy it. maybe buy gst free then margin scheme or farmland...
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    Structure for a small developer

    nsw ways around stamp duty related parties. talk baker mckenzie. all revealed. complex and expensive so maybe not worth it. dont think they do on small amount. min fee i pay is $25K for stamp duty strategy so not worth it for little ones.
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    Henry Kaye

    maybe you appear in chris batten book. i hear he writing one so maybe why research. reader like quote "the only thing he did wrong was to deceive a bank for finance". maybe read right maybe wrong but reads like approval. anyway hope u dont appear in book. i hear it be good one.
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    Vendor Finance & CGT (tad more complicated!)

    why someone pay $125K when only worth $100k. Maybe sucker or desperate. If do homework they buy other property in same area for $100K. Although many suckers out there. why you sell the property without mortgage on vendor finance. caveat just means beware latin. very little rights...
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    Central Coast > Sydney peak traffic

    maybe i be attacked but ok. they call gosford "mt druitt by sea" for reason. it have lot of unemployed and drug problems. go there friday or sat night and main street lots of druggos. during week noone around but single mums and unemployed. terrigal, avoca all good but during week noone...
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    Can borrow funds from my business for PPOR?

    we have similar problem while ago. so what was done was gift from company to trust. company then have no distributable surplus. dont know what it means but tax lawyer say good. then liquidate company. no tax and no div 7a problems. all because of this distributable surplus problem they...
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    Tax Returns - Cost or DIY

    buzz, i do swap if u like. i pay rough $280,000 to acountant last year. mind you bit more than 4 ips. but as said get what u pay for. $880 seems like wine bill last week so accountant better value than few cases of wine.
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    famaily trust name

    funny i ask qc same question while ago. because one beneficiary wanted trust documents. they send me email they reply "this should not be taken to mean that a beneficiary has an actual proprietary interest in trust documents (Rouse v IOOF Australia Trustees Ltd (1999) 73 SASR 484 and Global...
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    can i sue my accountant if i get audited?

    i have to agree mark. my english bad but advisors very good. some qcs and all qualified. all speak good english unlike me. why you go to accountant and not ask questions. first interview you know they speak poor english. then ask about hybrids and they do not know. i agree with mark. you...
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    Should I just get another accountant?

    i think you have to pay for work to date. verbal agreement. maybe not in writing but you give them things and they start work so you pay. fair to me. i think accountant who say can ask free questions during year bad one. good one you have to pay. they all busy and too much work. old ones...
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    accountant and offshore people

    hmmm. i make comment about accountants using offshore staff in malaysia, vietnam and india and deleted. wonder why. maybe because i name firm who i hear use them. not this post. i only say. ask accountant. do you use offshore labour. many accountants doing it. cheap labour and charge...
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    Tax refund, was hoping for more

    loans in one account. very bad. did accountant do apportionment. in audit maybe domjan case apply and interest not deductible at all. sometimes u get what u pay for. you in trouble sue if audit. you need separate loans. maybe talk h&r block but most of them not professionals. just nurses...
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    Cars agents drive

    it is morgans run by sid morgan. very successful agency. they make biggest sale in castle hill. $3.8M. also very successful developer. only show porsche. not his other cars. and to person who ask his home on many acres and nicer than homes he sells. good on him. maybe people ask same of...
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    HDT explanation for Dummies???

    i think tax is grey whether u know what doing or not. i remember QC saying person once said lets simply trust tax law. he said response was they said the same as mathematics. to simplify they say let pi be 10/3. well we know what happen. not simple. same as tax. if no grey bits then why...