All Topics / Legal & Accounting / Chan & Naylor Accountants – Reviews?

Viewing 10 posts - 21 through 30 (of 30 total)
  • Profile photo of ChrisfromhastingsChrisfromhastings
    Participant
    @chrisfromhastings
    Join Date: 2009
    Post Count: 15

    Well.. I am still searching for a good accountant( Melbourne), who genuinely is a property investor them self and is interested in helping there clients.
    I use R J Sanderson.  Excellent, with various locations spread over Melbourne.  They specialse in investment property and are not expensive.

    Profile photo of emptyvesselemptyvessel
    Member
    @emptyvessel
    Join Date: 2008
    Post Count: 170

    I went to C&N a few years back for one of these expensive assessments. IT was interesting, but I really got little out of it that I could use. They were pushing the HDT as a "PIT – Property Investment Trust" that had special terms that only they knew about.

    I never really believed, so didn't do it. I spent $395 with C&N to learn what I didn't want to do. An expensive lesson, but my lesson and my money nonetheless.

    Tried another accountant in Brisbane after that. They were pretty lame.

    Now with BANTACS. They are slow and poor to communicate, but are extremely thorough. Got me through a complex tax situation in great shape. Can't say I would recommend them yet. Ask me in 2-3 years.

    Profile photo of WomeninPropMelbWomeninPropMelb
    Member
    @womeninpropmelb
    Join Date: 2008
    Post Count: 234

    Well I have not used C & N but I did try. They seemed a bit too difficult to deal with. I love their books though!

    Profile photo of WomeninPropMelbWomeninPropMelb
    Member
    @womeninpropmelb
    Join Date: 2008
    Post Count: 234

    Btw, I have a couple of SIMPLE accountants I am in contact with if it helps anyone? That is simple to deal with. And our next meeting is focussed on accounting given the tax year is soon ending……………

    Profile photo of Jarrod Rogers CPAJarrod Rogers CPA
    Member
    @jarrod-rogers-cpa
    Join Date: 2011
    Post Count: 8

    Hi,

    We recently saw a client from Chan & Naylor and he had been set up with the same complex range of tax structures (hybrid trusts etc).  Given what the ATO say about Hybrid Trusts it is a bit of a risky strategy.  Go to the ATO website and search 00242180 in the search box to see what I mean.

    Complicated tax structures are expensive make good accounting fees, but they don't necessarily add value to smaller investors.  That's not to say that they are charging fees for nothing, or that C&N are a bad deal, but the complex structure criticisms in this forum match my experience.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Hi Jarrod

    I think the ATO is only concerned with uncommercial uses of hybrid trusts. Especially uses which are schemes which try to enable a high income earner to claim the interest and then the trust distribute the income to a lower income earner.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of TaylorChangTaylorChang
    Participant
    @scha9799
    Join Date: 2009
    Post Count: 234

    Hi all,

    I have to say, I had a very bad experience with Chan & Naylor Surry Hill !!

    I read the book " How to legally reduce the tax ". I was interested in the idea about company and trust setup for the property investment.

    I thought I try their service, see if they are good to work with and if they are as good as it says in the book. 
    Hence, I went to Chan & Naylor Surry Hill (Sydney) in 2008 for my tax return. ( a very simple personal PAYG and one investment property  tax return ).

    I submitted all my documents( receipts and rental statement…etc)  to them for tax return. It took more than 3 weeks !!
    furthurmore, when I called them up or left the message, i did not get reply in 24 hours as they promised. ( often I have to chase up couple of times !) I also sent them email couple of times, they did not reply for many days !!

    I got very frustrated !! due to they ignorance and lack of response.

    it went to a point that I got really frustrated and angry.( I felt that I was not being treated as a client to them ) I email them and told them I want all my document back and go to some other tax accountant.

    The Partner Thaha Mohideen ( from Chan & Naylor ) called me straigth away, after I sent out the email !!  He told me off and said that the email, I sent,  was threating because I want to leave them to other accoutant  !! 

    I was totally shock his reaction !! firstly, he called me straight away after I told them i want to leave ! secondly, he told me off and told me my email was threating !!

    I paid them off for the tax return they've done. ( which took them more 3 weeks and bitter argument with them !!).

    I NEVER go back to them again. 
    I'll NEVER recommend anyone to them after this horriable experience I had with them for a simpel tax return !

    TaylorChang | Finance Broker
    Email Me | Phone Me

    Home loan | Commercial loan | 0414 691 517

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Scha

    Sounds like a bad experience. How much did they charge you for that?

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of HB77HB77
    Member
    @hb77
    Join Date: 2013
    Post Count: 1

    I have just gone through a PIT trust and I must say that Chan and Naylor are totally hopeless! They are great at selling you a product but when it comes time to deliver they are no where to be seen, My trust setup took  way longer than  it was quoted to take (And I paid extra to get it quicker) and when I had issues they were not at all up front with me, they had my cash and that was that. My advice to anyone is to not use these guys, terrible service post purchase and they are all about selling you stuff you don't need. I was attracted to their PIT because of the ATO ruling on it, but what is the point if you buy it and they can't deliver it?

    Profile photo of eilatan28eilatan28
    Participant
    @eilatan28
    Join Date: 2010
    Post Count: 44

    @chrisfromhastings, i highly recommend James and his team from 'House of wealth' in Bayswater.   Investors themselves, great knowledge, fast returns and reasonably priced. 

Viewing 10 posts - 21 through 30 (of 30 total)

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