Hey Ed when you coming to Byron Bay area?
Just Joking! For those who have been looking, it seems that wealth4life (or someone else) has attended to removing the forums from the website.
Good on you Jodie! That was spot on to how I felt about investing in property, until I heard Ed speak at one of Michael Yardney's seminars. Fantastic books written by these three gentlemen also.
To Anne and Brett, what great timing you have. I am now a Chan & Naylor Client and say to you, that you will never look back, with this type of guy gunning for you. Well done, and thank you Ed for your inspiring information and generosity.
Personal service from an accountant the calibre of Ed, is something you will cherish, and look back on and say, 'that was our turning point on the road to creating real wealth'.What a difference to what started as a negative post!
All the best
pendoHi Ed,
Your offer is so unbelievably generous! Thank you so much. I hope you've got health insurance, 'cos I reckon you're going to have a heart attack when we complete our Financial Health Check!
Looking forward to speaking with you,Anne & Brett
pendo wrote:What a difference to what started as a negative post!
All the best
pendoHear Hear Pendo
Best wishes to you Anne and Brett
ian
Ed since the talk about u around is very convincing, i rang up your branch in melbourne and asked for a quote to do my coming end of yr tax return on my rental properties… the answer was $660… i think it is a bit too high compare to the market dont u think? my cousin's accountant expertised in rental properties and charges only $300 for individuals and $400 for companies.
Guan wrote:Ed since the talk about u around is very convincing, i rang up your branch in melbourne and asked for a quote to do my coming end of yr tax return on my rental properties… the answer was $660… i think it is a bit too high compare to the market dont u think? my cousin's accountant expertised in rental properties and charges only $300 for individuals and $400 for companies.Guan,
What's the issue? If you're happy paying $300 to $400 to your cousin's accountant and are satisfied with what you're getting, then Chan & Naylor is probably not for you. I would suggest that Chan & Naylor are likely to have a much greater understanding of taxation laws relating to investment property and offer much more than just completion of tax returns. Are you comparing 'like with like'? As the age-old saying goes, 'you get what you pay for'!Anne.
Chan & Naylor never claimed to be the cheapest. I have no idea whether they're the best or not, but I'd be willing to bet they're worth every cent they charge. I don't think that debating fees is appropriate in this forum.
trakka wrote:I don't think that debating fees is appropriate in this forum.It is if you are a bottom feeder
trakka wrote:Chan & Naylor never claimed to be the cheapest. I have no idea whether they're the best or not, but I'd be willing to bet they're worth every cent they charge. I don't think that debating fees is appropriate in this forum.Must be the tighta**e in me trakka, its a franchise person you're speaking to in many cities is it not?
Who knows if they're up to scratch and is it worth the money to find out they're not (see the tighta**e again..or is it cutea**se, I forget).After speaking with the Perth branch of I.D some time back, I thought they weren't what I expected and certainly no gems of wisdom ala B.Z , Finance Strategist didn't seem too different to Mortgage Broker (?)
And I enjoy Ed CHAN and Tony MELVINS books (and Mr NAYLOR) and look forward to more of the same re: LOE, SMSF, Finance Strategy etc etc, I believe Tony used to be mixed up with Peter SPANN as well, possibly marketing is a forte' as well?
I paid to see Ed Chan and Micheal Yardney at a seminar last year. I paid $75 for it and also bought books by Ed and Micheal, costing another $50.
The new ideas and perspectives I gained would have netted me $100K so far, which is a pretty good return on investment. I have no issue in paying for advice as at the end of the day it is up to me whether I act on it or not.
I have also paid for seminars from which I learned nothing, but on the other hand I learned what not to do.
I love the opportunity that is available in Australia. There are so many books and seminars out there, all of which may work for some and not for others. once you have decided on a path then stick to it.
Ed and Micheal should be commended for sharing their knowledge as they obviously have made millions out of the strategies that they teach.
Whenever I pay someone for advice I first like to make sure they drive a better car than I do.
Hi, I bought the Ed Chan book on super & while it's easy to read, it's a tad too general for my purposes. I would expect at least a couple of appendices on things like contributions tax. I'm still in the throes of a broadsheet to try & decide what savings I'd get from transferring commercial properties into a super fund at the same time offsetting the deducted contributions with the gains made from selling some devt properties.
KY
kum yin lau wrote:Hi, I bought the Ed Chan book on super & while it's easy to read, it's a tad too general for my purposes. I would expect at least a couple of appendices on things like contributions tax. I'm still in the throes of a broadsheet to try & decide what savings I'd get from transferring commercial properties into a super fund at the same time offsetting the deducted contributions with the gains made from selling some devt properties.KY
Maybe try something from Renton, or http://tsg.taxinstitute.com.au/
Hi all,
Being just new to this site, I hope that Ed is still available to take questions!.Ed, I recently met with a mortgage broker and queried setting up trusts. I also raised the prospect of setting up a hybrid trust. This broker mentioned that these are an excellent vehicle to support Property Investors achieve what they want to achieve – but there is a legal case between the ATO and Chan & Naylor and it would be better to stay away from them for now until the case is closed (of course, this could take years!).
Can you please confirm if there is such a court case underway? If there is any other detail you can offer on hybrid trusts as I am a first time property investor and I am looking at ways to maximise the investment for my family.
Thanks.
GlennHi Glenn
I am not aware of any court cases, but there are a fair few private rulings on hybrid trusts. I can dig out links to them if you wish to read more.
it seems the ATO's position on these is that if there is any discretion available to the trustee in distributing income or captial gains, while units are issued, then they will disallow the deduction of interest against the personal income of the unit holder.
I still think they are excellent structures though.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw,
Yes, if you could please forward those links.
Glenn
Hi Glenn
Here are 4:
71023
http://ato.gov.au/rba/content.asp?do…tent/71023.htm
65710
http://ato.gov.au/rba/content.asp?do…tent/65710.htm
66594
http://ato.gov.au/rba/content.asp?do…tent/66594.htm
66298
http://ato.gov.au/rba/content.asp?do…tent/66298.htm
The National Tax and Accountant’s Association has published a useful paper on hybrid trusts which is publicly available at:
http://www.ntaa.com.au/media/associationatwork/Usinghybridtrusts.html
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I actually need to find an accountant here in perth as im starting out again, great to know Mr Chan has an office in the CBD here!
Apologies for mis-quoting but it was Paul Keating who once said ' The only thing that you can bet on is self promotion'.
I very rarely get the time to read all the posts, as I'm too busy researching, buying and building properties for myself and my clients. I find it very distressing to see Mr Chan being criticised or his business and personal character defamed without hard cold evidence, this is professional defamation and a very serious issue. If people have issues, then telephone Mr Chan and request facts, information and have the courage to ask for evidence/ fact and be a decent human being and at least approach him via phone rather than defame him personally.
The time spent criticising people and worrying what everyone else does has probably lost a good deal or stopped research, learning, calling up agents, or advancing your life or goals.
I am a young professional, 16 yrs property industry experience, 3 degrees, and over 26 properties, and have worked my ass off since 15 to achieve things and set up a future for my family, parents, myself and my future children, and to buy time so I can rest, have fun, choose my projects/ clients, have fun holidays, and not develop into an overworked, stressed, early heart attack victim.
Recently I had someone defame myself and my business, not sure why they did it, I think jealousy and discontent with their own life. We were horribly defamed, with no facts/ evidence or justification and some very nasty personal things said – I have a bit of a Irish temper so now I am bringing them before the court and do not care if it costs me a fortune, I think it is a disgrace for people to defame and assume without evidence, fact, or confront the person directly.
Often I think maybe it is a trait of our country, people are not very supportive, or encouraging of other successes, jealous, expect things to come easy to them, life is hard work, and nothing is easy. Maybe this is why all of our very good talented people take off to the USA, UK , UAE and do not return.
Also there is nothing wrong with people being paid for their advice, opinions, experience, and even if you learn a few things 1 Tip can make you a fortune. I know 1 seminar I listened to in 2004 about New Zealand and investing, it cost me about 3,000, but then I took off to NZ for 6 months, braved the weather, took out a lot of loans, got a crew together and bought and renovated and sold about 10 homes in less than 8 months, made about 400k then decided to rest and travel oseas for 8 weeks.
So Ill pay anyday for advice, tips, knowledge, and love to meet interesting and exciting people.
I get asked regularly to do workshops, seminars, and although I love to teach, and show people what I do and how, I find the reward for preparation and time expended to carry these out, I could be finding deals, time with family, or advising my own group of dedicated clients.
I do not personally know Ed Chan, but it would be an honour to meet him, and I have no hesitation in paying for his advice, life experience, and if I was concerned about anything, I would do the courteous thing and simply call him or send an email saying " Hey Ed, Hi Im
, and have these points to question, can we have a chat?Anyway Im going to watch foxtel now and enjoy life after a hard week-
Kylie
Just Joking! 
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