Networth Planning

From: John Randell


Hi guys,
Came across this company recently (Netwoth Planning) and was wondering if anyone had any feedback on them. From what I can ascertain, they tend to tailor investment properties and financial structures to suit their clients. They seem to be linked somehow to Ray White and Express Mortgage.
They are using the technique of Cross Collateralisation to entice clients with not only the standard tax saving, but also the reduced time in paying out their original house mortgage.
It seems this is done by capitalising the interest on the investment property until the original mortgage is paid out.
Is this a standard type of approach??
And is it safe??
I was told some time ago that by linking investment properties to the family home could put the latter at risk.
Something about consumer law relating to the family home not being enforceable if they are both linked.
Any feedback on the company or the technique would be most appreciated.
 
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Reply: 1
From: Brett Burt


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Never heard of Networth, but they are pedalling a now discredited (by =ATO) method of paying off the mortgage by allowing interest to =capitalise on ip and using rent, and section 1515 benefits to pay off =mortgage. ATO won't allow it ! BB

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Never heard of Networth, but they are pedalling a =now
discredited (by ATO) method of paying off the mortgage by allowing =interest to
capitalise on ip and using rent, and section 1515 benefits to pay off =mortgage.
ATO won't allow it !BB

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Reply: 2
From: John Randell


Hello Brett,
Thanks for the reply. There must be a loophole there somewhere. They seem to be rather pro-active in their marketing approach.
It seems Deirdre Lampe in her book "Wouldn't You Rather Be Rich" cover the technique also.
In fact, I thinks she's linked to this company in some way.
 
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