Save tax!

So whose policy, Labor or Liberal, will favour investors with existing IP's?

 

Neither

 

It is a bit odd.
But I bet their phones have been running hot with these geniuses.

 

Yeah lets all be poor. No savings, no super - Claim a pension. That will show them.
Personally I would rather be excluded from a pension under the assets and income tests than get a age pension.

 

Likely a few issues that will attract attention by regulators
- Unlicensed credit advice
- Calculation and comparison of tax savings is tax agent work - Not registered with TPB
- Possibly AFSL licensed financial advice ? No AFSL
- ATO / ASIC will test if they spruik SMSFs (Website says they do)

Website doesn't appear to comply with AFSL requirements for "financial planning" they offer and they offer SMSF setup.

 

Was a fishing expedition Paul....and you took the bait!

pinkboy

 

You have no idea how many people think this is true....Many more than you may expect. They actually think super is bad and the age pension will look after them. Its why they paid taxes all those years now they want it like its powerball. They want to give away $1m+ to get a pension of $12K a year. (And their grubby families often encourage them!!)

 

I had a guy who wanted to give his son a $800k property unencumbered so thst he could get the pension.

 

Satire Paul.

Im fully aware of the epidemic.

pinkboy

 

I am an accountant. I don't have a sense of humour unless I'm in a room of lawyers - Then I appear very amusing.

 

Somebody once told me that if you want to make an accountant laugh, just make a joke at the expense of actuaries. Any joke will do.

 

79.9% of Actuaries make up statistical correlations

 

I don't think the ad is wrong... most people buy IP to save on tax...

 

It never ceases to amaze me the way some people act based on advice from the uneducated. I have seen time and time again friends and family make stupid mistakes based on nothing more than speculation.
When I question "why" the response is "because X said so" or my favorite is cliches like "yeah but property doubles every 7 years".....

 

And X will never be qualified. It amazes me that people will still take tax advice and legal advice from random comments made at a bbq.

 

They should buy because the investment issues all work. No point to tax losses if there is also a 50% CGT loss after X years is there ? Or cashflows that are not sustainable eg massive land tax, low rents and high deductions with a low taxable income. I do agree that most see the tax issues as a means to partly fund cashflows.

I have encountered first year investors shocked to learn the ATO doesn't refund the tax loss and only allow it to offset other income.

 

And they are adamant their mate is always 100% right.

 

I've never bought one to save tax.
But I am concerned when my pay goes up that I might have to pay more Medicare taxings. I'll reduce that by going on the dole.