First time ever in Australia - Tax deductions PRE settlement

T

Tony Vippond

I would like to personally inform you all about what is truly one of Australia’s most unique and attractive property investment opportunities. How does this sound?

• Luxury Townhouses 8km from the Melbourne CBD
• Beside parkland and lakes
• In a high growth suburb – 17% increase in median house prices, and 42% increase in median unit prices over the last 12 months.
• Priced between $374,000 - $439,000
• 18 months settlement

Read on……what if you could:

• buy with as little as $1000, provided you have equity in a property
• have the developer pay all interest during construction.
• claim that interest paid during construction as a tax deduction – before the property is built!

There are only 34 of these townhouses available. With this exclusive financing arrangement in place, fully approved by Price Waterhouse Coopers, they are sure to go quickly. If you are serious in securing one of these properties, please contact our office as soon as possible on (03) 9815 3383. Ask for Julie ([email protected]) or Monica ([email protected]) to schedule an appointment with one of our consultants. First in best served.

Yours sincerely,

Tony Vippond
 
Last edited:
Hi Tony,

Welcome to the forum.

Originally posted by Tony Vippond
I would like to personally inform you all about what is truly one of Australia’s most unique and attractive property investment opportunities. How does this sound?

• Luxury Townhouses 8km from the Melbourne CBD
• Beside parkland and lakes
• In a high growth suburb – 17% increase in median house prices, and 42% increase in median unit prices over the last 12 months.

Which suburb?

Read on……what if you could:

• buy with as little as $1000, provided you have equity in a property

Is this with a bank guarantee or deposit bond?



Yours sincerely,

Tony Vippond
Click to expand...

Jamie :p
 
Originally posted by Tony Vippond
• have the developer pay all interest during construction.
• claim that interest paid during construction as a tax deduction – before the property is built!

With this exclusive financing arrangement in place, fully approved by Price Waterhouse Coopers, they are sure to go quickly.

Tony Vippond
Click to expand...

Hi Tony

"Fully approved by Price Waterhouse Coopers"...I'm not so sure they'd endorse your wording :p

So, has PWC given an accounting opinion in favour of the proposed purchasers upon which the purchasers can rely if the ATO changes its mind...(ie they can sue Poopers for negligent advice)

or

is it just an opinion in favour of the developer? Is the opinion subject to a list of qualifications, assumptions and exceptions as long as your arm? :rolleyes:

Is there a private binding ruling in place?

I'm no accountant (thank goodness ;) ) but it seems strange to me that you can claim a deduction before you actually incur it...but I will stand to be corrected.

Cheers
N
 
Yes.....

Could you expand on the system....
To what extent is the claims made and how much of a deduction is made per annum..?
 
Tony,

Welcome to the forum. On my opinion your first post is a direct advertising rather than a proposition of a deal. My understanding is that this forum is not a free advertising outlet. A deal proposed through the Caveat Emptor section shall provide information and more information.

- Why don't you tell us the location (suburb) so that everyone can check the statements regarding historical growth (and to lookup median prices on the way)?

- What is the nature of the financial arrangement? If it is your know how please state it openly.

- PWC does not approve or disapprove projects - what do you actually mean by their "approval"?

- What is your role (wpb's role) in th eproject? Are you selling it exclusively?

There are only 34 of these townhouses available.
Click to expand...

- Why "only"? To me 34 townhouses in one development sounds like a lot!

With this exclusive financing arrangement
Click to expand...

- What is so "exclusive" about the arrangement if you offer it to thousands people you don't know (this forum has over 1000 registered members)?

I have more questions, but I'll wait for your answers to the first set - may not need to ask any more.

Regards,

Lotana
 
Additional Q's.

.There's absolutely no mention of returns.(though I might have been sceptical of figures quoted)

.A tax advantage short term MUST be at the developers' expense- like a rental guarantee, probably reflected in the price, and quite possibly not of good long term advantage to the buyer.
 
Tony,
As the partner (I believe) in WPB with the illustrious Dave Tomek, I was kinda surprised by your obvious and blatant advertising on the forum. I would've been pretty sure you would know the protocol of this sort of thing from Dave. So what's the deal? Why are you attempting to advertise free of charge? I would've thought that you'd know that posts like yours would get shot down or shut down pretty quickly, cause you're a pretty intelligent guy. So, again, what's the deal?

Mark
'no hat, some cattle'
 
Why "only"? To me 34 townhouses in one development sounds like a lot! - Lotana
Click to expand...
I'm with Lotana here. The way the market is right now I wouldn't consider looking at the deal seriously until Tony could present a convincing argument that there is no oversupply issue now or in the short term. Right now the vacancy rates suggest there may not be enough tenants to go around. What are sales like in other developments in the area? Are they going to auction, yet?

Mike
 
Hi Tony,

A few more questions:

Are these properties at genuine "wholesale" prices? ie Do you have evidence that the purchase price is less than sworn bank valuation?

Who is the developer?

What projects have they completed previously?

Who is providing the "exclusive financing arrangement"?

How many townhouses in the development?

What sort of yields are you proposing the properties will return?

Thanks,

Jamie
 
G'day all,

I was "blind" last night - changed work sites, and was not able to log on last night (6th Mar). Good to see that healthy scepticism is alive and well.

Regards,
 
Hi everyone,

I'm also glad that sceptiscism is still alive and well in here. So how have we all been? As long as the sceptiscism hasn't resulted in the all too common analysis paralysis...

Tony is is a board meeting right now. He is the original poster, so I'll let him reply to all your questions. Sorry for the delay - isn't a guy entitled to a long weekend away at the Grand Prix without being classed as a chicken @#!$ spammer?? :)

I'll allow most of your questions to be answered - not all. Wholesale Property Brokers has a system that is adhered to. This system has enabled us to become market leaders in our industry within a very short period of time. This opportunity has been made known to all our clients on the very same day as Tony's post.

Normally, we never even speak of specific properties/projects until we are absolutely sure of a prospective purchaser's borrowing capacity and financial circumstances. There's no point getting emotions involved unless the numbers indicate a deal is suited to a particular client and it's worth proceeding. This is the first time Tony (or I) have mentioned a specific project. It's too good an opportunity to NOT mention.

After Tony's reply to you (which will be soon as his meeting's over), please don't come down hard on us if we don't provide too much more information. It's the way we work, in the interests of saving time for you, ourselves, as well as our developer clients. Plus, we're running a busy business and spend up to a week away from our offices. I hope you understand, and don't miscontrue this as arrogance and evasiveness.

I hope you all have a great week.

Cheers

Dave
:)
 
Reply for you...

Hello there. Tony is tied up, so I¡¦m replying on his behalf. He can¡¦t believe the commotion he¡¦s caused. We spent four days at the Grand Prix courtesy of 3AW due to our sponsorship of the event, as well as being one of their major advertisers.

We almost regret posting this opportunity now. Over 300 of our clients have been notified about this the same day. Indications are we expect to have these sold out within the next month, so maybe we shouldn¡¦t have bothered. Tony and I were just talking about my previous contribution to this forum a while back and thought, "why not?"¨ What's done is done, so here goes. Any questions I don¡¦t answer are for good reason ¡V we don¡¦t want to go into too much detail on this forum. We're happy to answer them one on one with you and your solicitor, but not over this forum. If that doesn¦t sit well with any of you, please read another post ¡V we cant please everyone.
In order of questions asked..


1. The suburb is in the inner west, 8km out. Those of you who are familiar with me and my views on the Melbourne market will know which areas we believe are relatively undervalued and are therefore targeting.
2. If you have equity in property, $1000 will secure a townhouse for you. This is not with a deposit bond. In fact, deposit bonds are not allowed as a deposit. If you don¡¦t have equity, you will need the full 10% in cash. No bonds or bank guarantees.
3. Regarding my comment re Price Waterhouse Coopers. Of course there is a list of qualifications. This isn¦t a loaf of bread we¦re selling. A quote from the in-writing confirmation we have from PWC on 20/2/03 includes, "In our opinion, potential purchasers who qualify as investors under Australian Taxation Law will be able to claim a tax deduction for the interest incurred during the construction period" This is provided certain documents are correctly executed (which we make available to a client's solicitor). And, they do recommend independent taxation advice.
4. Interest incurred during construction will be approximately $21,500. The amount you can claim back obviously depends on your taxable income. Eg, it¦s around $6500 if you pay 30 cents in the dollar.
5. The financial arrangement is structured between the developer, AMP, the purchaser and their solicitor and executed by contracts and a Deed of Undertaking. This Deed is made available to a purchaser's solicitor when they proceed. And yes, contracts can be signed subject to a satisfactory assessment of the document by your representative.
6. There is no rental guarantee (which is preferable) on these townhouses. The expected yields are 5-5.5%. There is no oversupply, as the population is growing and the most common property type is detached houses. Couples with children are the most common household type.
7. GeoffW, you are right ¡V this IS at the developer¡¦s expense. Is it built into the price? No. We have letters from Landmark White stating that prices in this project are approximately 7% below the market value. Are these sworn valuations? No. Those of you who deal with valuers every day will know that, unless a property is sold and a particulars of sale is made available, any valuer's assessment will be worded as a "Market Assessment" only. Their PI Insurance means this is how they now operate ¡V most of the major's in Melbourne anyway.

Guys, thats all for now. If you¡¦re interested, you'll have to go through the standard WPB process, by first contacting the office on the numbers on Tonys original post. If not, thanks for reading this anyway.

It¡s great to be back! Live your dreams...

Cheers

Dave


{Life¡¦s short..Play Hard}
:D
 
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