Simple review of clients circumstances leads to a range of benefits
The clients approached us for a simple review of their overall circumstances. Their understanding of lending was little and they wanted to ensure they were paying their loans off in the shortest possible time. We asked the clients to provide us with copies of their most recent tax returns, property loan statements and an estimate as to the value of their property held.
With this simple information and a discussion with the client, we assessed their whole situation. We discovered that the client’s loans were not structured in the most tax effective manner, were not at the most competitive interest rate and they had also refinanced at one point not understanding all the implications of their decisions. On top of this, we also identified additional taxation deductions which the clients had not been claiming for many years.
Prestige Accounting’s advisory services assisted the clients to get back on track by sourcing the right loan from a broker, saving the clients substantial money every year. We also successfully amended taxation returns increasing the refund obtained from the ATO. As part of the process, we also educated the clients for future benefit.
This case is a common example where a client comes to us for a simple review of their circumstances to discover that we can assist them in multiple ways. Additional money in their own pocket is always a rewarding result for all.