Hello. First time contributor. Please be gentle. I'm looking for an accountant who is in the know about property finances and investments in the Perth or Fremantle area. Any help would be greatly appreciated. Don't want to make an appointment with a lawyer or financial advisor only to find that I've paid some exorbitant fee for very little useful advice… We have a property and have recently finished building with the intention of selling the first to pay off the loan used to build the second property (the first and second house are both PPOR). Property prices in our area have fallen and we are unlikely to get the amount we had hoped to if we sell the first house. We're not looking at what other options are possible for us (rent out the first house and get some tax benefit through negative gearing? can we benefit by setting up a trust or company?). Hope to get some feedback soon. Thank you very much for any contributions.
Hi GoldilocksHave heard of this situation. In regards to having two properties as your principal residence I would ask your accountant to look at this. It is a common misconception that if you own the house you live in and build another both will be free from CGT. This is not right and advice should be sought regarding which property to choose as your Main Residence. Not completely on track but I just wanted you to be aware of this.
My accountant is very good and always answers my property related questions thoroughly and makes it very clear to me so I understand (I can be slow on the up take sometimes).
His name is Matthew Moonen and he works at 154 High Street Fremantle 08 9335 5211. I actually booked an appointment and we interviewed each other for about 1/2. I felt comfortable with the way he answered all my questions (I had a list) and vice a versa.
hi, i am entering the waters here ,having done some small investing and probably made some mistakes along the way.Ihave currently a certified accountant/financial adviser however he does not recommend property and i was wondering if you could steer me toward one in adelaide who you believe has a balanced and informative reputation cheers bev
sorry goldilocks, didn't mean to hi-jack your thread but if Bev (above) or anyone else with a good reccomendation for a property savy accountant in Adelaide reads this would you kindly let us know on this thread. Have just recently been dissapointed to learn chan and naylor don't have an adelaide office yet and we need to get into gear NOW! Thanks Regards to all – Jodie
Chan & Naylor have a Perth office. Go to their website http://www.chan-naylor.com.au for details. They focus on investors with IPs. They have developed a unique ownership structure in conjunction with specialist proeprty lawyers and Special Counsel (SC). It addresses important issues such as asset protection, esttae planning and tax minimisation and is totally legal.
The founding partner Ed Chan is the co-author of a number of books on tax, superannuation and wealth creation. You should get a hold of the book How to achieve Wealth for Life through Property Investing. It is available via their web site. I found it extremely easy to read and understand and I'm a novice too. Ed is an active investor himself.
The firm has a unique approach called a Financial Health Check where they review where you are and where you want to go. I came away with many ah ha's after suffering from previous confusion.
To Bev in Adelaide, yes, unfortunately they don't have an Adelaide (yet) but you could call one of their other offices to arrange a conference call to achieve the same as Goldilocks in Perth. That's how they deal with their regional clients and they have plenty.
I would try Strategic Property Accountants! Their advice is second to none and they have offices on the Gold Coast, in Brisbane and Newcastle. I found their services to be fantastic and would recommend them to anyone who is serious about investing in property.