Recommended accountant - Melb Eastern Subs

Hi all

Does anyone have an accountant they could recommend in Melb's Eastern suburbs (around Croydon, Ringwood) that specialises in property investment?

We've always gone to our tax return specialist at ITP and she has always done a great job, but it might be a good idea we find someone local that is more suitable now that we are buying an investment property shortly (and hopefully more over the next few years).

Thanks !

 

Does it need to be a local? Everything's done online these days. Plenty of good accountants on here to choose from.

Cheers

Jamie

 

How do you know that a tax adviser knows property taxes well ? IMO most dont. Most know enough to get by and enough to be dangerous.

Mike at House of Wealth would be a good local contact. He posts here too.

MikeLivingTheDream

 

My question was asking for someone to recommend an accountant that "specialises in property investment" Hence, I would expect them to know property taxes well ?

 

Chris Brodies from Simmons Partners
03 9887 9377
[email protected]

Based in Burwood and is a property investor himself.

 

Mike. Yes

 

as @Paul@PFI says we are based in melbourne in mulgrave. in office appointments are done by my partner wilson fung and i skype into those calls as im generally overseas helping clients setup backend operations in the philippines for their australian based businesses.

with technology these days you can really work wherever you like.

i can recommend either paul or i as he has dealt with me before and ive dealt with him. i believe we are both equally as competent when it comes to property investors.

 

my personal opinion is that it is actually irrelevant whether an accountant is a property investor or not.

ive never constructed a 10 commercial, 40 residential unit property. i have a client who has and have assisted them through the myriad of issues. experience and continued learning is the key.

its like saying an oncologist who hasnt had cancer themselves isnt the best person to see when it comes to your oncology needs.

in fact i was the prudential auditor for a "specialist property accountant" during a voluntary disclosure who had made a total mess of their own affairs.

 

Lol, good analogy/

 

But if you had cancer, you'd rather see a doctor that specialises in oncology rather than just a GP?

 

agree @Madcatters

 

I have property and invest but have never developed and do not want to (at this time). And neither I believe has Mike but I would consider both of us know far more about the taxation issues surrounding developing than most developers. Ditto Mike has very broad experience but its different to mine. Somewhere sometime we each encounter issues that better fit that experience and other times we also may have to think a issue through. Perhaps even discuss the issue with each other too (Yes we do that). I count Mike as someone I can ask curly questions of. A sign of a great adviser is knowing what you dont know and who to ask !!

Also my views of property investing and risk may be very different from yours and Mike's would be different again but I consider we are strong property tax & general tax advisers. I will make a observation that Mike knows all that is needed and he knows what he doesnt know and knows how to find the answer. He is a sound tax adviser and a sound property adviser.

Its important to separate the personal tax adviser from the advice...But that I mean.... I go to extreme lengths not to allow my opinions reflect as advice for clients. One of the most frequent questions I'm asked is "should I"...To be honest I avoid answering this if its about buying or selling. I arm a client with all the issues and facts and assist them to make a informed decision. This attribute is important for PCers. They tend to be educated in property issues and seek knowledge for their journey. My job is to assist that. I dont believe most on PC want to be told what to do. Just given guidance on the options, choices etc so they are confident in their personal decisions. Of course at times our advice can be ÿes, No, Dont do that....I think you understand what I mean.

So its always seems to come back to three issues when seeking an adviser

1. Adviser technical knowledge and experience
2. Adviser communication skills. Can they explain complex stuff and I get it ? Do they over explain or under explain (ie tell me what to do ?)

These are the easy ones. The last one is a bit intangible....

3. Adviser personality... The fit between client and adviser. I'm not here to be a friend but some clients are friends. You dont have to like me either but you need to feel that your adviser is a good fit. Are they available, approachable etc

And I suppose there is always the 4th.... Is the cost a fair price for the services ? Note I didnt say cheap. Great advisers will never be the cheapest

 

@Paul@PFI im starting to feel a bromance forming