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Quite simply, the valuation is at the hands of an individual working for the company contracted by the financier. The valuations are not influenced by the banks at all. The final outcome of the valuation is at the hands of the individuals knowledge of your area. Like every profession we have...

NSW PPOR until 2009 will be good as you can elect the main residence exemption as you have noted (6 year rule). The QLD property will be the main residence from 2009. Supply the valuation to your accountant from 2009 and I am sure he will be happy.

Terry, I am still not sure in part 2 above this offers any protection as the trustee of the discretionary trust will have to be an individual or a company that has directors as individuals. This essentially means the assets of these individuals come under scrutiny in the event of bankruptcy...

Every loan has to be assessed on it's on merits (your personal financial circumstances). I often say home loans are akin to weekly sales in Coles or other major outlets. They are available for short periods, provide a saving and they can often be utilised. That being said, your broker will be...

The LOC is an overpriced expense to pay for something that you almost already have...the purpose of the loan is for an IP an is tax deductible. It is quite simple, 80% LVR, split the loans in your amounts desired, attach offset accounts and process the extras...to go back to your question your...

I agree with the above post and hope I have not caught you too late...LOC's are both overpriced and cannot and should not be used where interest is to be tax deductible (refer Domjan and the surrounding cases). Essentially there is no need to use an LOC when you have other options such as...

You may use the equity, no problem here, but the interest is not tax deductible. i.e. it is not an expense that has related to creation of assessable income.

There are several concerns that raise an immediate red flag here.... this scheme does not only test the boundaries of Part IVA but it has been posted publicly to show the real intention/ purpose of the sales. Generally speaking, Part IVA will only apply to an arrangement if the answer is yes...

Yes agreed, it may not be a strategy used by everyone. But there are many who through Manoj's advice may take a strand of the strategy on board. Most importantly, it is the many variations to this strategy and the use of SMSF borrowing and SMSF's in general, that make SMSF's a very lucrative...

And now count financial has fallen to the banks! CBA is the culprit. I'm actually asking for help! Please stand up and be counted....lets have a few more independants in our industry. You may lose a small fraction of your profits....but you can look at yourself in the mirror!

Agreed, 1% discounts are completed every day of the week.

Jase, I often do 6 or 12 month waiting periods. I am not sure what happened in your case?

It's in stone, look out for fee for service...... Many of the clients that come through my office did not know they where paying a commission to a planner. They did not even realise they paid a contribution fee in same cases. This brings up another point. Is ASIC making life more difficult...

Intrinsic Value, Count have several traits that are very positive for the FP industry. 1. They are often linked with accounting firms (as a planner you are often arriving at questions that may require the knowledge of an accountant). 2. The directors are firm on their views that they will...

It is my understanding that the service of a FP is not free.They all bill to prepare the SoA and for their time. I am of the very few that does not bill as I enjoy what I do and do not require this income to keep me afloat. I will try to explain: A FP must complete a SoA whenever they give...

That is a little harsh to say I have written someone off... this is not my intention, in fact I closed down the rather conflicting arguments and opened up the pressing issue with piston broke on my last post. Further, I was not sure that you had to have a particular level of wealth to meet...

Piston Broke, I will not get into a my accountant is better than your accountant argument. Anyone can have good and bad experiences with Financial Planners, Accountants, Mortagage Brokers, Lawyers etc and I am not here to pursuade you your experience can be better or worse. Please refer to...

By and large you have to take in consideration all personal circumstances. Refer to Grant Abbott the leading SMSF speaker/educator in the country to see who he is currently training and encouraging to embrace this space- you will find that it is both FP'S and Accountants. Ask your Accountant if...

Piston Broke, Now lets clarify, please answer the following: If I was to transfer my real estate (my holiday house- encumbered) to my SMSF is this allowed? Should the bare trust and the SMSF have a corporate Trustee and if not, for what reasons? If so, should the corporate trustee be a...

It is blatantly obvious there is a need for financial Planners, i.e. who can guide your through the set-up of a bare trust with a corporate trustee to hold your property for an SMSF, who will write the investment strategy to make the SMSF compliant, who will consolidate the 5 super funds and...