Chan & Naylor Accountants – Reviews?

Hi
I used the Sydney mob. (Pymble)
Paid the $500-ish for the financial assessment.
It took 2 hours and the guy was very personable, but I got nothing out of it.
Also you have to fill out forms so they know everything about you before you go, but of course in my case the guy I was supposed to see was replaced at the last moment with someone else who had not read any of my documents and found it difficult to get on top of all my bits and pieces – I never said my finances were straightforward A-B-C – which is why I was trying to get some really good advice from people who seemed to say they could think outside the norm.
So I travelled for 2 hours in horrific Sydney morning traffic, was there 2 hours, paid $500 and wasted my day.

Hi, I agree with Kuradji,

C&N make a big deal out of getting people to their Financial Health Checks charge $395 for what many times could be disclosed over the phone or a ten minute meeting.  Often and in general most people would not need a trust set up for property unless they have a complex business or personal situation to deal with or multiple investments.  Another reason maybe where the person is in an occupation such as a surgeon and therefore needs protection from being sued.  The first or second time property investor is better off on a land tax basis to just invest in their own names.  A lot of this information is really quite basic and does not require a FHC. (financial health check) C & N also overcharge for the setup of these trusts.  On the whole it is simply a gimmic to get people in the door and have them become clients.

Not to say they cannot give relevant advice to complex situations but for the novice it is simply a waste of money as many people could testify to if they had access to this site and told of their experiences.   In addition their new move into the SMSF field is simply a money spinner.  The trusts they use are someone elses branded as their own and marked up by 2-300%.   Do your own due diligence and check elsewhere for help at a much lower cost.

There are many people out there with HDTs, from a variety of suppliers, who have huge problems – many don't even know it yet. One guy told me it would cost him $100,000 to fix – he got his from a melbourne accountant.

Mr501 you are so right on the money with C&N.  They are now doing the same thing with SMSF trust deeds.  Making out it is there own product but using someone else's and marking it up 300%    Check out the competition first.  These guys make heaps out of suckering new clients in through their seminars for health checks and then try to get them as long term clients with no CRM and no care policy after that.

Chan and Naylors fees can be accessed from their website.

   I went to one ot the C&N  semminars, at some  expense and inconvenience, and was rather disapointed with the quality of some of the information. Some of the information was excellent, but some was inacurrate and I learnt  I was  doing things that  they said  cant be done.   Even though my acountant says they can and the ATO never had a problem when they did an audit.        I  felt they were just pushing expensive and unnecessary products, though some have aplace in certain situations.  

Hi,
If  you happen to come to Bendigo, our accountant Mark Hernan is fantastic. He will set up your structures in the most cost effective way, suitable to your circumstances.
 ex. We were going to do what Chan & Naylor said and have separate trusts for each property with a corporate trustee in each, at a cost of thousands of dollars in set up fees and also ongoing accounting fees and ASIC fees.
When I spoke to Mark ( our accountant) he looked at what we were doing and said that we could be the trustees – no need to set up separate companies for each!! Also provided that the gross yearly income for each trust was under 75K we can have more than one property in each trust without having to register for GST..
We've been using his discretionary trust for 2 years and have had no worries. Hope you find someone who can help you too.
Good Luck.

There is less asset protection by having personal trustees. If the trustee is sued his or her personal assets are at risk. Also less flexibility with changing things – if you want to change trustees, then the title will need to be changed and theloan will need to be changed. There may be stamp duty consequences too. But it does give some asset protection and makes it easier to get a loan.

Residential rents are GST free, so as long as you have residential property there should be no GST issues – unless you are building and selling.

I Had the same experience but with C&N, on the time of my appointment the financial planner told me that they haven't received my Assessment Form from head office.
Luckily.. I brought along a copy in my bag, they were trying to read quickly flicking through my assessment Form.  They should have requested another copy from head office  for them to review before the appointment.

I spent $395 for a Financial Health Check but half of the session before seeing an accountant was spent going through  my assessment Form with a financial planner.

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've used Guests for years. They are absolutely fantastic, I can't speak highly enough of them.