Melbourne Advisory Accountant Recomendations

Discussion in 'Accounting & Tax' started by CTSB, 7th May, 2020.

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  1. CTSB

    CTSB Well-Known Member

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    Hi guys,

    I've been looking to link up with a quality accountant for the last few months, I've been to 2-3 initial consults with a few and I've been left underwhelmed.

    These haven't been H&R block types, but some in my general area that have come recommended.

    Having spoken to a couple of Property Chat members via zoom, I've come to the understanding I probably need an advisor as well as a quality accountant to meet what I'm looking for, however I'm still finding it tough to nail down a good accountant as a first step, I was hoping if any Melbourne based members could give any recommendations? I don't mind location, but would probably prefer a Melbourne based accountant at the very least.

    Preferably someone with a real nous for property developments.

    I've got a dual occ development with approved plans and permits atm, I've raised this with a number of accountants I've met, I've got feasibility for a few scenario's for tax minimization with my current situation and the current market conditions and most have been along the lines of "umm I can tell you some of the tax implations but can't really delve into too much of the feasibility items etc etc"

    Basically I'm looking for a quality advisory accountant that I can bounce idea's off, that can also be proactive in 'advising' some solutions and strategies based on my current situation, rather than sitting back and having everything in their lap and just advise on a nuts and bolts strategy.



    Has anyone got anyone they would recommend in Melbourne that would fit this bill, especially one really adept in the property development space?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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  3. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Mike isnt in Melbourne at present but knows his stuff for sure and should pose zero limits. I would trust Mike with my own affairs. Your searching around may indicate you want someone to steer you. That may be unrealistic. It's something that sometimes I use as a warning sign. Mike won't tell you all for free either. He is smarter than that
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    He is in melb
     
  5. CTSB

    CTSB Well-Known Member

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    Hi Paul,

    I don't want someone to steer me at all, I've got set goals and plans and my own investment strategy.

    I want someone to offer their opinion and to be proactive in strategy.

    I'm not sure what your last line is inferring, this whole process is to begin a long standing paid professional relationship.
     
  6. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Adviser shopping is a common red flag to advisers. The comment about how you have met several etc. And I see the words tax minimisation... Planning is about making sure you pay as little as is required and thats all part of the advice. But expectation that it can go lower may be unrealistic. I wish I was paid by everyone who wants to do a dev and windup the bucket company would rank as the most common question. Sometimes they they have goals and plans and dont necessarily accept advice given so on two ends you have those who want full guidance (ie what should I do) and the other end those who had a solid opinion and seek someone who complies with that. Property tax advisers tends to need to filter out some who do want to access guidance as loads of (my mates, I read on the forum etc ) opinions out there conflict with professional views. Not a reflection on you, but many others perhaps. I know Mike has a good filter which comes with that experience. And is solid on structure, strategy and planning. You will have to pay for that. He isnt cheap but is good value.

    Property related tax advice is fairly black & white but based on depth of knowledge and experience as it can be broad and encompass many fringe and technical issues.
     
  7. CTSB

    CTSB Well-Known Member

    Joined:
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    Location:
    Melbourne

    Hi Paul,

    Thanks for your comments.

    I wasn't wanting to 'advisor shop', ideally I would of felt confident with the first of the 2 I sat down with. I don't think 2 is an astronomical amount tbh and I'm not going to undersell how important it is to find the right accountant by signing up with someone I don't feel comfortable with.

    I spoke with Mike this morning, he was excellent, I'm aware of his fee's, I've authorized his first paid consultation block.

    Thanks for the recommendation.
     
    Terry_w and Jess Peletier like this.
  8. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    You wont go wrong. Known Mike for a while and he is on top of things.
     
    Mike A likes this.
  9. Mike A

    Mike A Accountant Business Member

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    Im back now. Got onto one of the repatriation flights and served my time in detention. Released now
     
  10. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    They let you back in ?

    Ok who coughed says Liam

    [​IMG]
     
    Last edited: 8th May, 2020
    craigc and Mike A like this.