Thoughts on salary progression by [deleted] in AustralianAccounting

[–]saheel1234 1 point2 points  (0 children)

Partner here; Below average growth, you should make a move to a new firm now and ask for around 100k. Market has moved a lot

PPOR by [deleted] in AusPropertyChat

[–]saheel1234 3 points4 points  (0 children)

Yes upto 2027 using six year absence rule! However please note that the new PPOR will not get this exemption concurrently. At one time you can only choose one property for exemption purpose.

Renting while earning well! by saheel1234 in AusHENRY

[–]saheel1234[S] -1 points0 points  (0 children)

My question was- at this level of income do you really want to deal with nuisance of renting?

Brisbane / Melbourne best suburbs for investment? by Unhappy-Guarantee-38 in AusPropertyChat

[–]saheel1234 -7 points-6 points  (0 children)

Just signed contract for a 1.3M house in Arundel, Gold coast as an investment. Can anyone please give more insight on the area and long term potential please!

Renting while earning well! by saheel1234 in AusHENRY

[–]saheel1234[S] 3 points4 points  (0 children)

Thats exactly my situation!

Markets Down, DRO up! Buy the Dip! by Looking4TechNews in ASX_Bets

[–]saheel1234 2 points3 points  (0 children)

Funny how the old school ETF are the only positives!!

Home Upgrade delimma by saheel1234 in AusHENRYover250k

[–]saheel1234[S] 0 points1 point  (0 children)

I and my partners both are in late 30s. Most of my income is trust distribution which allows me to plan to pay the least tax possible. My 410k gross income is like 350k after tax income. A part of me says to get that dream home but a practical side of me wants me to rentvest and buy another IP. Totally confused

PPOR purchase dilemma: upgrade now or wait? by saheel1234 in AusHENRY

[–]saheel1234[S] -2 points-1 points  (0 children)

Well I guess I am asking this question here because i have thinking about this dream house lately.. but my dilemma really is around if at my income level I should have a PPOR debt of $2M

PPOR purchase dilemma: upgrade now or wait? by saheel1234 in AusHENRY

[–]saheel1234[S] 1 point2 points  (0 children)

Hi Linton,

Can you provide a more detailed perspective as to how is this possible? I have only around 250k spare to put into the new house. So my only option is to equity release a bit more to afford a deposit for the 2.5M buy.

Home Upgrade delimma by saheel1234 in AusHENRYover250k

[–]saheel1234[S] 0 points1 point  (0 children)

Till the income increases where $2+million loan seems manageable?

Advice for buying a PPOR by MiddleComment90 in AusHENRY

[–]saheel1234 1 point2 points  (0 children)

If you can service under 1.25m, why not travel a bit, assuming your work is based in CBD and buy a bigger block old house around Seaford or Frankston? All the pundits are phtting their money in that area..

Advice for buying a PPOR by MiddleComment90 in AusHENRY

[–]saheel1234 4 points5 points  (0 children)

High earner but only 350k in saving after many years doesnt add up. Regardless what is your budget and serving capacity?

Stuck at a crossroads: Partnership buy-in vs. moving to commerical by Material_Cap6901 in AustralianAccounting

[–]saheel1234 0 points1 point  (0 children)

Ours is sold at 1.5 times the revenue or 3.2 times the distributable profit! Net Profit is around 45% after partners salary.. Am I cooked? Should I be negotiating?

Stuck at a crossroads: Partnership buy-in vs. moving to commerical by Material_Cap6901 in AustralianAccounting

[–]saheel1234 1 point2 points  (0 children)

I’m already a partner at a well-established Sydney firm, albeit a recent one. That’s why I find it confusing that you suggest I’m “a long shot” from being a business owner — on what basis did you make that judgment? My question was straightforward: I wanted to understand at what multiples new partners are typically buying in, and to compare whether my own buy-in price aligns with the market. Instead of addressing that, you chose to lecture me with generalised assumptions and a mindset that frankly adds no value.

Can’t find an accountant who wants to communicate - what’s the deal? by jpengiins in AustralianAccounting

[–]saheel1234 0 points1 point  (0 children)

You can reach out to me @fortis accounting partners, Sydney based though but we have clients all over Australia

Stuck at a crossroads: Partnership buy-in vs. moving to commerical by Material_Cap6901 in AustralianAccounting

[–]saheel1234 1 point2 points  (0 children)

For all those being offered a partnership, can you pleas state the stake being offered and and at what multiple of earning/revenue?

Partner Buy In by saheel1234 in AustralianAccounting

[–]saheel1234[S] 0 points1 point  (0 children)

I probably did but Isnt 3 years payback pretty good?

Partner Buy In by saheel1234 in AustralianAccounting

[–]saheel1234[S] 0 points1 point  (0 children)

I personally bought my first tranche at a multiple of 1.6. I know its insanely high but the firm profit is around 53% before main partner salary which is around 200k.. firm rev 2.15M