Forum Replies Created
Hahahahahah – people will be quaking in their boots all over the place at the loss of deductibility of the expensive seminar fees they have paid. Luckily for me, anything I attend is paid through the company.
Robert Bou-Hamdan
Mortgage Adviser30 years in the ATO and cannot give a definitive answer. I have no years in the ATO and I am telling you it is illegal. I am not even an Accountant.
I think Julia was saying that if it was set up solely to increase deductions, then it is a scheme. Your scenario is set up solely to increase deductions so it is a scheme. Being a scheme makes it illegal. You would not set up another loan to pay your interest in the normal course of business.
I don’t know how much more information is needed to convince you. I don’t care how many lenders are used, I still say it is illegal.
As for Hart’s case and the loans being with one lender, this was because the loans could not stand alone. The very low interest non-deductible loan HAD TO BE TAKEN WITH the overly higher interest deductible loan. This clearly had the sole purpose of increasing deductions. To me, your scenario is the same thing.
Robert Bou-Hamdan
Mortgage AdviserIt seems as though everyone is too scared to respond publicly about my comments above. I have received a few emails now telling me of some bad stories which I cannot divulge.
I would love it if those people would post some of their comments here to share with all or give me permission to do so for them (anonymously). My email is not working right now so I cannot send but I can receive.
Robert Bou-Hamdan
Mortgage AdviserKay, are we forgetting something???
Core principle behind The Investors Club plan number 4:
Never, never sell.
Robert Bou-Hamdan
Mortgage AdviserDavid, you need to speak about Derivex to get moderated and you need to hurt a sensitive person’s feelings to get booted.
Robert Bou-Hamdan
Mortgage AdviserI knew I should not have followed that link. You don’t know me at all. Why would I find that babbling rubbish of any interest?
Robert Bou-Hamdan
Mortgage AdviserDon’t worry John, it will be back to normal soon. You know I get booted every 1-2 months for about 3-4 months and my time is nearly up!!!
Robert Bou-Hamdan
Mortgage AdviserOriginally posted by dmichie:The challenge for the RBA and government is to engineer a ‘soft landing’ whereby house prices ease, but we don’t end up with a recession and mass unemployment.
We finally agree on something else!!!! I think they will achieve this though. Watch this space after July Senate take over by the Libs.
I’d much rather you actually express an opinion on the economy rather than continually harp on about my dark alterior motives.I have many times to no avail. It is much more fun airing your ‘alterior motives’.
In case you were wondering why I have a stable to positive outlook and totally disagree with any real burst of anything, read my comment above. July is not far off!!!!
Robert Bou-Hamdan
Mortgage AdviserDavid, I had to ask you on more than one occasion to stop emailing me. Please do not deny this. Regarding the alias, that was a guess and that person seems to have ceased posting. Go figure!
As for my views, there is no point. You keep regurgitating the same old articles over and over and ignore everyone elses comments. I have told you numerous times that I DON’T THINK CONTINUED HIGH HOUSE PRICES ARE A GOOD THING. I kist don’t agree with you about some sort of implosion and do not need to start 10 threads about the same thing.
I am really sick of repeating myself to you so I really think we should go our seperate ways. Please do not include me in any of your comments in the future on economic topics and I shall refrain from responding (if I can help myself).
Robert Bou-Hamdan
Mortgage AdviserBecause the agreement was made in advance.
Robert Bou-Hamdan
Mortgage AdviserIt is not a personal attack. I am merely outlining facts which I think I am entitled to seeing so many of what I consider your one-eyed economic views and other posts of yours have been directed at me. You also continue to say that it would be better for ‘battlers’ if the economy went the way you want it to. I totally disagree as it will only be better for you.
Am I not entitled to my own opinion as to the economy and your motives?
Robert Bou-Hamdan
Mortgage AdviserI would guess it is the same seeing NZ is just another State of Australia!!!
Robert Bou-Hamdan
Mortgage AdviserThe problem with Somersoft is that there is a ‘group’ mentality. If you disagree with someone in the ‘group’ you have no future there. You get bombarded by all those in the ‘group’ until you leave, cease posting or get banned for a ridiculous reason.
I find PI.com a much better place for free speech (still with a lot of restrictions though) and especially for newbies trying to learn.
The main problem I find in here is members of the Somersoft ‘group’ coming here to complain about quality.
Regarding the ‘same old names’ comment, this is evident nowhere more than at Somersoft. Also, the moderators there are on some kind of power-trip. At least here, most of them are reasonable. No-one has a problem if there posts get deleted when it is reasonable!
Robert Bou-Hamdan
Mortgage AdviserDavid, you are not a battler mate. You are looking to buy a property well over $1,000,000. In my opinion, you are just looking to save your pennies and increase profit. This is a very selfish economic outlook. It seems obvious to me what you are driven by.
Robert Bou-Hamdan
Mortgage AdviserThat is the problem David. Your “serious” discussion is looking at one point of view only and discarding almost all others. A “serious” discussion looks at both sides. You continue to fail to do this.
As for being childish, what do you think bombarding someone with unwanted emails was? In any case, I do not see anything in my post as childish. I know why you want house prices to crash and the AUD to dive and I made the choice between what you want and exporters going down. Obviously, I prefer the latter.
Robert Bou-Hamdan
Mortgage AdviserMaybe I should have quoted… I meant they were not commodities “dug out of the ground” as you seem to focus on. Australia exports a lot more than you seem to know about.
Robert Bou-Hamdan
Mortgage AdviserI must guess that it was a Meriton or Meriton style multi-unit development with lots of lifts, swimming pool, gym, etc… Huge strata rates apply and the odd special levy is required to a decreasing asset.
These things are so bad to buy in areas being over-developed like Sydney, Brisbane and Melbourne.
Some non-conforming lenders won’t touch buildings that have a lift in them. This gives a good indication of what to steer clear of.
At least you learned a good lesson. I was lucky with the one I bought in 98 as I sold it in 99 before they all started being released in the city.
Robert Bou-Hamdan
Mortgage AdviserDon’t be a hypocrite David. You want home prices to crash so you can get a bargain and also the AUD to crash so you can make a larger profit margin. I would rather see exporters go down than all those who will be effected by your selfish dreams.
Robert Bou-Hamdan
Mortgage AdviserCastle, Aussie lenders will calculate LMI premiums on the val in your example. Do they do this in NZ?
Robert Bou-Hamdan
Mortgage AdviserAre these the ‘battlers’ you speak off that benefit from decreasing home prices and a decreasing AUD?
Robert Bou-Hamdan
Mortgage Adviser
