All Topics / Help Needed! / please help

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  • Profile photo of blockablocka
    Participant
    @blocka
    Join Date: 2010
    Post Count: 38

    hi
    looking for a company that managed our investment property (WHITE HOUSE FINANCIAL SERVICES) Directors name…. Matthew Jenkins…
    They owe us a small amount of money approx $5000…(RENT) we do have a paper trail via real estate agent
    cannot contact anyone on any of company phone numbers and more recently all numbers have been disconnected….
    this is a negative geared property can we claim this as a loss ?
    what do we do from here. ?
    any help would be appreciated

    Profile photo of ScottScott
    Participant
    @scotty-t
    Join Date: 2014
    Post Count: 9

    Blocka,

    As I read it above, White House Financial Services is not actually your real estate agent, is this correct? What role do they play in managing your property if you have a real estate agent?

    If you want to try track them down for the $ you can do an ASIC or ABR register search if you have the company ACN or ABN. If the company has gone broke, then a administrator/ liquidator may have been appointed. If that is the case you can contact the administrator/ liquidator and they could provide you with further info in relation to getting your $ back. However, the chances of getting all your money back in these circumstances are never that great.

    In terms of claiming a deduction, when it comes to rent, you would normally declare the income on your tax return when you or your real estate agent receives the money. In the event that you haven’t received your money, then there is no need to declare the income. Basically, instead of claiming a loss, you don’t declare the rent which you never received.

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

    Try doing an asic search for their registered office.
    Were they real estate agents? If so the rent should have been held in their trust account. contact dept fair trading.
    If they were not real estate agents still contact fair trading so they can investigate.

    get legal advice – you may be able to start winding up proceedures and possible go after the directors.

    If you have not received rent then there is nothing to claim but your income will be $5k less, creating a bigger tax refund.

    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

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