Home » E-News » News

Categories

Accountant Aged Care Allied Health Annuity Asset Finance Asset Planning Asset Protection Asset Protection Strategies Assets Assets and Risks Ato Bas Binding Death Benefit Nominations Binding Financial Agreement Bonds Brexit Budget Budgeting Business Business Registrations Business Support Business Tax Deduction Business Value Capital Gains Tax Capital Protection Catherine Frost Cgt Checklists Commercial Property Community Corporate Trustee Cryptocurrency Death Benefit Nomination Debt Debtors Deceased Estate Depreciation Director Director Id Divorce Economic Update Economy Emily Kermac Employees Estate Planning Executor Fbt Federal Budget Finance Finances Financial Advice Financial Plan Financial Update Franking Credits Government Grants Gst Home Office Hybrid Unit Trust Individual Ownership Information Session Insolvency Insurance Interest Rates Investment Loan Investment Loans Investment Property Investments Janet Kohan Jobkeeper Jobmaker Joint Ownership Ken Burk Land Tax Lending Market Update Mortgage Broking Mygov Negative Gearing Overseas Gifts Parental Leave Paris Financial Pat Mannix Payg Payg Variation Pension Practice Practice Valuations Private Wealth Property Rebecca Mackie Record Keeping Research & Development Retirement Retirement Planning Retirement Savings Salary Sacrifice Scams Self Managed Superannuation Self Managed Superannuation Fund Self Managed Superannuation Fund Borrowing Shares Small Business Smsf Smsf Borrowing Smsf Self Managed Superannuation Fund Strategic Business Structuring Structures Succession Plan Superannuation Superannuation Fund Tax Tax Benefits for Super Tax Concession Tax Deduction Tax Losses Tax Offset Tax Planning Tax Savings Temporary Full Expensing Tenants in Common Tfe Training Trust Trusts Will Working from Home

Property Spruikers Aim To Steal Your Money

Property Spruikers Aim To Steal Your Money

Introducing my pet peeve: property spruikers. I can’t stand them.

Lately, I’ve had a number of ads pop up in my Facebook page advising me to get in touch with companies that are all telling me the same thing – that I need to be taking advantage of the new government initiative to pay off my mortgage sooner.

All these companies are ever talking about is negatively gearing property.

They want to get you into their organisation so that they’ve got control of your money.

It’s obviously not something that you should do. I would hate to think any of my clients or anybody that I know, really, was involved in something like this.

It’s been great to see that the ACCC is taking this sort of thing very seriously.

In mid-November, they fined a guy called Rick Otton for $18 million. It was all due to the underhanded tactics that he was using in relation to property investors and getting money off people.

$18 million is one of the highest fines the ACCC’s ever issued.

It’s wonderful to see that they’re taking this seriously because these people really need to be stopped.

If you’re ever unsure about anything in relation to investing in property, get in touch with myself or one of the other property tax specialists at Paris Financial, and we’ll be very happy to help you out.

 

Bec Mackie, Partner, Paris Financial