NRAS - ETHAN: class action

I can’t say this any more bluntly - change providers !

If everyone currently with Ethan or Quantum changes to AAHS or AMC or similar, it will end this guys rorting. It will make Ethan, Quantum and Tebter worthless. It will end the gravy train for this guy.

This is why the regulations were changed in 2017 - allowing investors to instigate the change of Approved Participant for the first time. Previously, only AP's could instigate this. But the regulations were amended specifically to aid people getting away from Ethan and Quantum. Use the regulations. CHANGE

I have posted about this previously on other threads. I provided all the documents required to make the change. I provided the details for 2 alternative NRAS Approved Participants ( consortiums ) that I recommended investors should speak with and choose from ...

So, for anyone who is with Ethan or Quantum and concerned about payments - the paperwork is attached above - just scroll up . It takes 10-15 minutes to complete it and submit it .

 

What happens to the old payments? Does the new provider follow them up (and claim them back if already paid to old provider?) Or do they only start from when you change your them?

 

No... old payments will still need to be pursued through Ethan

I would consider asking my accountant to claim the Commonwealth component ( 75% ) so that you are only waiting on the State component ( 25%).

Using $11,114 as the baseline, the Commonwealth component would be $8335.50 and the State Component would be $2778.50. This is where Ethan would ordinarily take their 7.5% + GST fee, which would be @ $917. This would leave you @ $1861 out of pocket instead of @$11K out of pocket

Not perfect , but certainly a very improved outcome.You'd have $8335 of whats owed to you.

I understand Ethan hasnt issued your certificate for that NRAS year...but you may just have to take the punt. Having been audited 4 times, my experience is that the ATO doesnt ask for the certificates..... and if you arent audited they definitely wont ask..... but thats really a chat you should have with your accountant . Just throwing an idea out there to consider

 

Dear Ying li, Daniel

I am a new one here, I have the same problems with Ethan. 15-16/ 16-17 NRAS incentives not been paid in the last three years. Contacted Dss they suggested me to seek legal advice and change different agency.

Is that anyone know how we can change different agency? Get a chance to change agency get NRAS incentives on time?

Can you give me any ideas for changing agency?

Warm regards,

Peng

 

Dear ying,

I have the same problem with you!

I did contact AAHS, their number is 07 5571 0732

After had experience with Ethan, I felt AAHS staff very nice and helpful. You can contact them and ask. At least they can talk to you!!! Only 5%-6% of nras management fee, no threat, no excuse.

The staff there treat me seriously, he said the MANAGER will contact you later, I think he might joking, after 5 minutes a manger from there really call me back with a nice offer, I feel nearly crying! The 4 years horrible experiences with Ethan I feels enough!

You never know, Ethan treat people like a idiot, they never talk to you on the phone, they never give you a effective solution, they threat you, let you endless wait, until yesterday, they still told me my incentives still on processing in 2015-16.

Dss ask me to change an agency, seeking advices.

Do you have a lawyer with good experiences we can work together to find our right back!

Warm regards,

Peng

 

Does anyone know any reliable NRAS participant/provider in Melbourne?
Hi @euro73, How to go about making this claim?
" claim the Commonwealth component ( 75% ) so that you are only waiting on the State component ( 25%). "

 

You claim it with your tax return

 

Hi, Daniel And Ying, Alvin,

Personally, I agree with you, Ethan fail to pass the incentives to me in 2015-16/ 16-17/, it is apparently is illegal and no one really look after us to claim the incentives back. We have to get our hard earn money back! And leave these people as quick as possible!

I know there is an agency name Have safe, they have no any issues with passing incentives in Melbourne, but the incentives management fee is 10%. Their reputation is not as bad as Ethan. Have you heard anything about this agency?

Let me know anything I can do.

Warm regards

Peng

 

Hi Peng, Do you happen to have the contact details of this "Have safe"? Google turns out nothing at all.

Hi euro73, You mentioned claim it from tax return. This is my understanding,
Since I did not receive any incentive at all, this "income" would not have reported as an investment income in my tax return. How can I put it in the tax return as a loss of earning? I did not lose anything, is just that I did not earn that extra incentive.
Hence, how would I be able to claim from my tax return? Am I right?

 

It's impossible for me to claim from the ATO. I tried. But Ethan have not given me a certificate for 2016–2017. The ATO won't listen to a thing from me. I have written twice, plus asked my accountant to send a third letter with my tax return. No reply from the ATO.
I think the government has a lot to answer for after this crime has been on the public record for over a year. But they are still paying Ethan our incentives.

 

So, this forum suggests class action. Presumably that is all we can do but it's going to cost a bomb and take heaps of time. But it'll be worth it if anyone knows of a lawyer who'll make sure Ethan and the government pay their expenses.

 

I am with you Tempest. We just have to find a way to take him down. Anyway, a little consolation from Ethan. I just received two months arrears from the five months yesterday. Still, this is not good enough. We have to end all this at once if possible. And I have got the Dwelling ID from DSS as well after just writing to them via email with proof of ownership of the property and ID check. I will go ahead with the change of provider. As far as those incentives are concerned, hopefully, the "new provider" will do the right thing of passing on the incentive to us. If we can get back those arrears incentive from Ethan will be a bonus, otherwise just let it go and move on. What do you reckon?

Hi Peng, any news on the "Have safe" contact details?

 

Hi Alvin,
Thanks for your reply. I have my NRAS property on the market because I'm over feeling powerless, duped, and having to pay out more than I can afford each month for a mortgage that is 6 years old. My tenant is great, she doesn't want to go, but I need to get out of my tangle with Ethan Affordable Housing and move on. As I said in a previous post, earlier this year I submitted my forms to DSS to change providers but I am still lumped with the same (criminal) provider, without any hope that I'll get what is owed. And the government has known for years he's a thief. Just don't get it, how they can get away with it.

 

No they arent. Ethan have been deregistered. Ethan went and bought Quantum and are slowly migrating everyone over to Quantum.

Step 1 - change providers. This way your payments from 2018/19 get back on track

Step 2 - lodge a tax amendment/variation with ATO to claim your federal refund. All of my clients got their money .

 

Thanks for your reply, and putting my statement straight. I apologise for my error. Clearly I am lost in the tangle of it all — confused as to where I stand because I have been trying to sort this issue for so long and getting no where.
Step 1 — Done: my forms to change providers completed done months ago but I'm still with Ethan according to Quantum (who I actually thought I was with). This reply in an email I received from Quantum dated 1 November 2018 'Ethan Affordable Housing remain your Approved Participant ...'
Step 2 — I attempted to amend my 2016–2017 tax return but without my certificate from Ethan I cannot get what is owed. I have emailed Ethan three times to ask for a statement. I have written to the ATO three times about this in an effort to get what is owed. Neither have replied.

 

Did you switch from Ethan to quantum? I hope not .

 

Hi euro73,
Sorry to trouble you again, you mentioned claim from federal income. Please provide details as to which section of the tax return form that we declare this "loss". Thank you.

Hi Tempest,
When you apply for the change of provider, did you ask for a particular new provider or just allow DSS to simply appoint another one for you?

 

Hi everyone

I have an NRAS property in Ballarat (Melbourne/VIC) which was registered with Ethan. We thankfully got our 16/17 federal payment but haven't receive the state component from Ethan. Our 17/18 incentives are being handled by Quantum and I'm nervous we won't be getting them back. Has anyone transferred over to AMC or AAHS as suggested by @euro73 and If so, would you recommend one over the other? I'm keen to get the transfer application into DSS to start the process as soon as possible.

Thank you very much in advance for any help I can get. And if anyone has a solicitor they are going through to try to claim outstanding incentives from Ethan do let us know.

Thank you again.

Kind regards

Amabel