I often wonder whom it actually is that has contacted these current affair type shows to 'break the news' of these save yourself trillions stories!...and how much they might pay to get 'their' find to air on prime time TV???
Methinks that certain interested institutions are predominantly the driving force at times...particularly on this occasion....no names mentioned as I can't afford the legal costs ;>)
Upon reading the very interesting article supplied by Waverly Bay it is very clear that certain institutions are going to run real hard at the (would be) mum and dad investors with this 'new' financial phenomenon, as they did with LOCs.
I will definitely do some research into this type of product for myself to see if it all stacks up...so I am not negative about the concept at all. I simply can't help wondering about the motive at times. Various institutional marketing departments will be spending up bigtime to get on board this gravy train...that's for sure. It appears the public is going to be bombarded with endless current affairs shows over the next few months and beyond.
I'm quite certain people will agree that these 'informational' current affairs style programmes (which used to be quite good for focus on issues if you cast your mind back to the ABCs This Day Tonight, Mike Willesee in the early days, even Derryn Hinch) should now be reclassified as 'infomercial' or 'teleshopping' programmes.
If you might allow me to digress a tad further...
...As for who's promoting who, take all the fishing shows for example (cut throat and competitive industry): one that airs here in WA recently charged a certain charter company (small time family venture) $4000...plus all other expenses!!..and they had to hump all their gear for them, and supply grog and ice!!!...to do an article on them. It was a local island trip; after some initial footage on the first day the very temperamental 'stars' nicked off for two days on their own little jaunt around the islands with no activity on the charter business at all. Talk about bloody rude.
So next time you see one of these fishing shows just ask yourself when you see the grumpy miserable 'star(s)' not catching any fish....what sort of grief did they put the poor skipper through while filming???
re. split loan, the latest info I have from my accountant is to hold your bloody horses 'cause there's no way this is going to be law. even when the ATO lose in the supreme court all it takes is for the gov. to pass another law to disallow the claims, and they will reverse it and (some latin phrase she used) you wont be able to claim the interest from the last ruling.
just think how much revenue this will cost the gov., there's no way they want to lose all that revenue.
So what happens.If the tax department wins their appeal do they back charge with interest for lost revenue(so to speak),and if they lose, do they change the law and we end up with a similar situation to depreciation schedules(pre-post 1987).ie any agreements in place stay,but no more after change of law?????
The tax office ruled against these loans about 6 years ago. So, if they win, they will merely claim that the rules have been in place all along . . . If they lose, they are very likely to ask the Government to amend the law and who knows what will come of that.
My advice has been to wait and see and I've said that now since the court case.