Comments for Webb Martin Consulting

Comment on Common sense in a world of trust by Common sense in a world of trust

Common sense in a world of trust — Mon, 07 Mar 2011 00:18:46 +0000

[...] Click here to read our latest Newsletter which discusses how the Government proposes to achieve this via a definition of distributable income using tax concepts… [...]

Comment on January 2011 Flood Concessions by January 2011 Flood Concessions

January 2011 Flood Concessions — Mon, 07 Feb 2011 22:51:15 +0000

[...] Click here to read our latest Newsletter which discusses the 2011 Flood Concessions. [...]

Comment on 2010 – What a huge year for tax! by 2010 - what a year for tax!

2010 - what a year for tax! — Tue, 21 Dec 2010 00:32:46 +0000

[...] Click here to read our latest Newsletter which discusses the many highlights and of course some lowlights in the wide world of tax. [...]

Comment on TAX BREAK – A Progress Report by Rob Power

Rob Power — Thu, 28 Jan 2010 03:14:06 +0000

Mae

Thanks for your comment.

For the purposes of when the investment commitment time occurs, the ATO distinguish between chattel mortgages whereby the mortgagee (i.e. financier) is the legal owner and one where the mortgagor (i.e. you) is the legal owner.

In the former case the time when the chattel mortgage contract is entered into is considered to be the relevant investment commitment time whereas in the latter case the time when the order contract is entered into is considered the investment commitment time.

You will need to check with the financier which category the particular chattel mortgage falls under.

Regards

Rob Power

Comment on TAX BREAK – A Progress Report by Mae Atendido

Mae Atendido — Mon, 28 Dec 2009 20:41:21 +0000

Hi Rob,

I have had advice from a car Finance staff that a Chattel Mortgage approved by 31Dec is my only way to be eligible for a new car ordered yesterday 28Dec. And this is the same loan that other customers have done recently given that there are only a few days left for the tax break deadline.

Above article does agree with this.

My accountant is unfortunately on holidays and wont be back until mid Jan so I can only rely on information on the net.

I have found other articles and discussion on this too.

You think I am safe to go ahead with a Chattel mortgage approval?

Thanks very much and your website is so informative indeed.

Mae Atendido