Hi all,
Not sure about the PIT Chan & Naylor have been describing. However, in defence of Awesome Wells, I myself am a chartered accountant and have no less then 5 clients (Each client has various entities including SMSF's) which have come across from Chan & Naylor. Each of which have breach the SIS with respect of property being borrowed against by related trusts owned in the PIT but the units owned by the SMF. 3 of the 5 have effectively lost half of their superannuation fund balance as they were seen to have breached the act quite seriously.
My only advice is with all things get more than 1 opinion on something. It might cost you an extra few hundred dollars up front but it will save you bucketloads in the end.
Regards
Shrewd
Not sure about the PIT Chan & Naylor have been describing. However, in defence of Awesome Wells, I myself am a chartered accountant and have no less then 5 clients (Each client has various entities including SMSF's) which have come across from Chan & Naylor. Each of which have breach the SIS with respect of property being borrowed against by related trusts owned in the PIT but the units owned by the SMF. 3 of the 5 have effectively lost half of their superannuation fund balance as they were seen to have breached the act quite seriously.
My only advice is with all things get more than 1 opinion on something. It might cost you an extra few hundred dollars up front but it will save you bucketloads in the end.
Regards
Shrewd
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