Recently this thread was brought to our attention and based on several false or misleading comments we have provided here a factual summary of Chan & Naylor and our Property Investor Trust Deed.

1. Firstly the Property Investor Trust Deed was designed by us only for use with Property and has several other features. For example, it was important that our Deeds did not vest like other Trust Deeds which cease after 80 years creating Capital Gains Tax and Stamp Duty issues for the children or Grandchildren. Another added feature is the ability to keep the assets within the bloodline protecting against divorce. The ability to split the trust assets allows the children to separate assets into their own Trusts with no stamp duty or CGT consequences should they decide to take the assets into their own Trusts. There are many more differences and a basic description of this trust is available on the following link – Property Investor Trust™ Deed

2. Regarding our costs – our initial 2 hour consultation costs $395. The purpose of this consultation is to provide clients with solutions for structuring of their current assets, a future plan of how to move forward and advice on various accounting and taxation matters relating to their situation. Due to the current demand we are booked out for approximately 2 months. $550 may have been quoted for this consultation where a person needs priority to get in early or their consultation time requires more than the usual 2 hours. This rate is less than our normal hourly rate of $275 and is a discounted introductory consultation. Also we provide a money back guarantee – if the client considers the consultation not worth the time or money we would gladly refund. The reason we charge upfront is we are getting 30 new client calls per day and the volume of new clients wanting an appointment with us simply meant it was easier to maintain order and reduce our administration burden by collecting the money upfront, eliminating the need to chase collection of fees. It also ensured fewer cancellations of appointments etc. It’s not unusual to pay for a seminar or a workshop upfront to secure a seat.

3. Furthermore we do not charge by the minute but provide our clients with a guarantee and FREE 5 minute phone calls. This information is available in the document Why Use Chan & Naylor and our detailed Price List. All of which is available freely on our website http://www.chan-naylor.com.au under Forms.

4. The link to the Somersoft website forum, posted by Calses405 occurred in Feb 2006. This link was initiated by Nicholas Moustacas (forum alias NickM) an accountant and principal of Strategic Wealth Management who specialise in trusts. Also Dale Gatherum-Goss (DaleGG), another accountant who also specialises in trusts made comment. Other negative comments about Chan & Naylor and our trust deed were made by Chris Batten, a tax consultant from whom we use to buy trust deeds from and no longer do. Our Lawyers have provided a rebuttal to Chris Batten’s criticisms of our Trust Deeds (click here to read). We do not understand their criticism, perhaps it’s because our Trust Deed is not made available outside the Chan & Naylor Group (our Joint Venture Partners and Certified Licensee have paid a Licence Fee to be the exclusive distributors of our Trust Deeds and other Chan & Naylor products and service, we have a legal obligation to honour our contracts with them). Chan & Naylor have nothing against the above mentioned people or their businesses; we respect all of our peers including all mentioned and always speak highly of other professionals.

5. Cales405 wrote “Chan & Naylor seem a little deceiving from this post on the Somersoft forum.” This statement is not true, as I personally posted an explanation on that thread, with an explanation from our lawyers who drew up our Trust Deeds and left my direct email address should anyone have any questions. We have written articles, spoken at seminars and even included in the new version of our tax book a more detailed explanation of the Property Investor Trust™ Deed and how it works. This is not deceiving – I think we are as overt as a firm can get without actually teaching another accounting firm how to do a tax return on our trust.

6. There were several mentions of being frustrated at getting in to see Chan & Naylor. Currently our “front end service” is bottlenecked. We have some 30 odd enquiries a day from new and prospective clients. Even with offices in Pymble (NSW), Parramatta (NSW), and Melbourne have not relieved the pressure. We are in the process of opening up 3 more offices in Perth (WA), Norwest (NSW) and Central Coast (NSW) which we hope will assist in relieving the pressure. Offices in the Gold Coast and Brisbane are in the pipeline. The unprecedented demand due to popularity of our 3 books and our “Wealth for Life Plan” has created these bottlenecks. Our challenge, of course, is building the business quick enough and finding like minded accountants and training them on our systems and processes. By December 2007 we will have established offices in every State and will be able to better handle the demand – until then I ask that for those of you wanting to use our services, please be patient with us. Alternatively Nicholas Moustacas and Dale Gatherum-Goss are other accountants who offer investors advice in this area.

I hope this has clarified the matter and puts an end to any rumours about our services and products. Should you have any queries regarding the above, please feel free to email me directly at [email protected]

Regards

Tony Melvin

Managing Director

Chan & Naylor Australia