We are delighted to state our strong endorsement of the services of Graeme and Michele Glossop and the staff of Parramatta Accountants. We have for a number of years used their services as our tax accountants and in more recent years, through personal advice from Graeme, we were encouraged to establish our own Self Managed Super Fund.
It was during the middle of the Global Financial Crisis around January 2009 when our superannuation funds were suffering huge losses that we entertained the idea of looking at an investment property. It was then that Graeme convinced us of the advantages of rolling our superannuation into a self managed superfund.
The advantages of working with Parramatta Accounts have been fourfold.
1. Setting Up the legal entities required under the SIS (Superannuation Industry Supervision Act).
Firstly they were able to point us to the right solicitors (N.P. Panos & Associates) with the relevant experience in creating the trust entities required for a self managed super fund and in accordance with the SIS Act. Parramatta Accountants have strong links with N.P. Panos and Associates and complement each other.
2. Purchasing the right properties.
Secondly Parramatta Accountants are well networked with the property investment market in our region and were able to point us in the right direction to purchase properties in growth areas where demand was certain. In the past 3 years we have now purchased 2 properties, with the conveyance transactions also facilitated through N.P. Panos & Associates.
3. Organising Bank loans that met the criteria for a SIS Act Complying loan.
Parramatta Accountants (Graeme) was able to identify which the bank was the best able to provide the product that met the requirements of the SIS Act. In our case this was the NAB.
4. Annual Tax Returns and Auditing. Parramatta Accountants provide a detailed service for the annual tax returns and facilitate the independent auditing of all the transactions as required by the SIS Act.
The overall performance of the fund in the three years (1st property transaction completed in March 2009 and the second property in April 2010) have been well beyond expectations with growth of approximately 14% on the property values since purchase over the combined value of the properties, or in terms of equity, an improvement of around 40% on our original investment !
From my first hand knowledge and experience Parramatta Accountants are a very ethical organisation and support several charities and aid organisations. They are professional, friendly and committed to providing the best service and advice to clients.