I heard it on the grape vine....

[see_change]

I think there's a few people wondering about Steve's Navra's new Tax minimisation scheme. This apparently allows people to invest in shares while claiming significant tax benifits in the process

Maybe this may well sound like sour grapes but I know I've talked to a few people who are frustrated that given the leg up that steve got from his participation in this forumhe no longer participates in this forum.

There are people on the forum who are aware of the details of the scheme , and from my basic understanding it's not something that is easy to go of and duplicate ( ie rip off Steve's intellectual property , maybe that's his concern ) , but at the moment the only way ( and the details arn't being discussed there yet ) to be involved in a debate about this would be to join in Invested.

Is there a reason why a cone of Silence has decended on this new scheme ?

Anyone prepared to enlighten us?

See Change

 

[Chilli]

I am in investED and am not aware of the Tax Min details being discussed there apart from the 1st seminar on this will be in Sydney on 26 April . So i guess the silence is coz most people dont really know ...unless s/o can enlighten me also pls.....

 

[saucy gibbon]

I haven't been around much lately, but from what I understand Steve's non participation in the forum was due to personal reasons and time restraints caused by various factors.

However I do agree that it would be fair and make sense to discuss the product on this forum.

I can't say that I'm particularly comfortable with the concept of Invested, though I do not know a lot about it and there may well be valid reasons to charge for the service.

 

[MichaelW]

Cliff,

I am on InvestEd as you know and I am also aware of the details of Steve's new scheme but I have promised him and Mark that I won't reveal it in detail until they have gone through the motions of getting approval from the ATO. Its more of a prudent cautious approach to launching a new product than some arbitrary cone of silence. As soon as it has formalised legitimacy then rest assured it will be heralded loudly. I understand that they're not too far away from launching it now.

I think I can safely say that it is a structure specific product. i.e. You are able to use your tax liability from your positive cashflow income managed fund to purchase more units in that fund. So, instead of paying the taxman, you get more units. Its not rocket science and shall be widely launched shortly.

I hope thats sufficient to quench your thirst for a little while yet.

Regards,
Michael.

 

[Chilli]

thanks Michael.
Can't wait to hear more about it as i am organising a 500K loan (plus its margin on top) and waiting to see what this tructure is like, so hope it won't be too long b 4 the secret is out.....

 

[MichaelW]

Shouldn't be too long now before its all public knowledge.

I'm invited to this course in a couple of Wednesday's time as an existing Navra client:

http://www.navra.com.au/index.asp?content=schedule

I'll be sure and post details after the course.

Cheers,
Michael.

 

[see_change]

So first point.

It's not a scheme that allows you to buy shares ( as promoted on Invested ) , but a scheme promoted to allow you to Invest more funds in his managed funds.

See Change

 

[see_change]

thanks Michael.
Can't wait to hear more about it as i am organising a 500K loan (plus its margin on top) and waiting to see what this tructure is like, so hope it won't be too long b 4 the secret is out.....

Salsa

I will be interested what sort of Due Dilligence you do on the scheme , or will you rely on Steve's judgement to guide you .

Is the LOC being prepared primarily in anticipation of this , or as a general raising of capital?

I understand a ruling is being sort from the ATO .? Could any of the lawyers / accountants on the forum indicate how binding these are on the ATO.

See Change

 

[austini]

... Maybe this may well sound like sour grapes but I know I've talked to a few people who are frustrated that given the leg up that steve got from his participation in this forum he no longer participates in this forum. ... See Change

Hi See Change,

As another one of the long-term members here I also somewhat share those sentiments. I have a pretty good memory in regard to this forum and hence recall reasons given as to why certain people (with vested interests) participate here. And incongruencies stand out like dog's-balls over time. It irks me a little that some individuals no longer wish to participate on the forum but are only to happy to have certain events promoted here that are likely to generate business for them.

Probably should have kept quiet but I don't think by a long shot that I'm the only one who thinks this way. Anyhow maybe I have Grumpy Old Man Syndrome. Hey See Change you're a Doc, is there a remedy for this problem? Large Medical Expenses - hey that's another Tax Minimisation scheme

Cheers - Gordon

 

[Chilli]

will you rely on Steve's judgement to guide you .

Certainly not. I did Steve's course but did not purchase his funds due to my research & understanding (no disrespect to Steve nor his funds, just did not suit my needs )

Is the LOC being prepared primarily in anticipation of this , or as a general raising of capital?

No just a time coincidence so i thought i would hang on a bit to see if anything is interesting there..

a scheme promoted to allow you to Invest more funds in his managed funds

I would hope that the scheme is NOT just for Steve's funds

 

[johnnyb]

As with all new schemes/strategies/products it is important that we do proper DD on them, as see_change points out. This one is no different. In particular I don't see the rush in finding out the details. Another month isn't going to make or break our investment goals. I admit though that it was very annoying when Steve posted in the meeting point advertising his course, and referred us to a post on the new product that would appear that afternoon, and then didn't!

I do have some units in Steve's fund, which are only a part of my total investment portfolio, so I will be very interested in this product. I reinvest the income from this fund anyway, so if Steve's new product allows me to do this in a tax efficient way then great. It probably won't entice me to change my overall investment mix though (eg, by diverting some capital from other investments to the Navra fund), as that would not be good risk management (for me). If someone was looking to invest some capital in the Navra fund then this product may be seen as an added and unique benefit compared to other funds. Maybe this is the driver behind the development of this product, ie, to try and attract more FUM.

John.

P.S. I'm also registered on the Invested forum (thanks to being a Navra client) but know absolutely nothing about this new product. Also, living in Hobart means it is very difficult to attend any courses. So I'm with see_change on the idea that a full discussion on the forum would be good (when we know more).

 

[twodogs]

like sour grapes
See Change

From the tidbits given at the Navrainvest shareholders' meeting, I think there are grapes involved. As in large brewing company, approved agricultural schemes and some margin lending. That's all I know, and it may be all wrong too

Just have to wait until the 26th

 

[DaleGG]

Hi

I do not know either, but, I did hear this same rumour....

Dale

From the tidbits given at the Navrainvest shareholders' meeting, I think there are grapes involved. As in large brewing company, approved agricultural schemes and some margin lending. That's all I know, and it may be all wrong too

Just have to wait until the 26th

 

[Chilli]

there are grapes involved

hmmm that does not sound like what I would hope at all so I 'd better not holding my breath then.

 

[twodogs]

hmmm that does not sound like what I would hope at all so I 'd better not holding my breath then.

Other tidbits heard were "capital guaranteed" and "min 5% return". make of this what you will.

I'll reserve judgment until the product is explained, but I suspect this product will offer a choice: loose your money in tax, or invest with a chance of getting something back.

 

[Panic]

It will be interesting to see if the product is similar to Macquarie's SFI (self funded investments). MQ structure can be used to release capital gain for other or same stock investment without getting burned by CGT. Do your own research, but if it is similar to that then that is nothing new nor too exciting.

Thx
V

 

[thefirstbruce]

Willl be interesting to see how much it has in common with Peter Spann's coming tout....

BTW, Steve's health issues should be a heavy reminder to everyone of the pitfalls of overrelying on a business or investment with one mouthpiece, and possibly one brain. Every sound business plan requires a smart exit strategy, for all directors/partners.

 

[Sultan of Swing]

BTW, Steve's health issues ...

Is Steve not well?

 

[thefirstbruce]

Steve mentions reasons for not being able to keep interested parties up to date, on invested and here, back in feb I believe.

 

[Mr. Fabulous]

Is Steve not well?

His eyeballs are broken.

Edit: were broken.