Financial advice required.

PeterWH · Posted: Tue Feb 27, 2007 6:39 pm

Dale there are a couple of ways out of your delema.....As I am in roughly the same position as you are,I got myself an ABN registered a company as a NPO,then approached the local Credit Union for a lease on my own Falcon,which cost me $12K.
The other way was still register yourself with an ABN as a private company,BUT then apply to a duilding society as a self employed person,with an ABN and claim it against a business.You can own a $2:00 shelf business,quite legally and be only suplimenting $10:00 per month as a donation to the business,and as longas you register yourself,make a not and supply yourself with a receipt thru the business it is quite legal.I dont know whether you have a partner or not,BUT have the partner listed as well,as that goes along way towards your lease being legit.
I have done this with the Commuity Radio Station up here and I am in the process of negotyiation a grant,onlyu because I have an ABN and I am registered as a small Non Profit Organization,thru the Tax Department....
Good luck with it,BUT try either those ways and I am sure that you will be able to lease thru your small business.
I also believe that thru your small business registration you can allply for a 'shelf' loan to improve the business as well.....check out the small business web site thru the Australian Government........

I did.

Dale61 · Posted: Tue Feb 27, 2007 7:04 pm

Thx Pete, and now that you have mentioned it, I actually do have an ABN (had it since they were first being issued).

I could also use my freelance journalism as the reason for my business. As a freelance journalist, I could then claim everything (vehicle, computers, camera, electricity, etc, etc, even rent) on the business, and still remain below the tax threshold.

However, the SS is the reason for this thread, and I'm in no position to ask my folks for assistance (they have already spend my inheritance - LOL), so unless I can find a way to get the required finance by COB tomorrow, I will have missed the boat completely.

PeterWH · Posted: Tue Feb 27, 2007 7:19 pm

Dale use the ABN as your business,contact a credit union/building society,advise them, that your company has got a donation of $XXX,that is to assist your business to expand and when they ask for a receipt of where you got it,it was fromXYZ and that you requitre $XXXX for a payment for an extra part of your buisiness.Do it on line tonight,as most companies will advise within 60 minutes.
Another way out of this is if you have a credit card,use this as calateral for the business and also as you need some d\more dollars for the business to improve it you can also use a credit card OR again a busilding society or credit union...ON LINE to apply for the rest of the dollars...its amazing what you can achieve on line,with an ABN and as a NPO.....

Give it a go,you will be suprised what can be acheived online.
Go have a look at Mortgage choise as they do this sort of thing on line and in 24 hours.......

Good luck.I still have my ABN,as well as a NPO for the station and I pay NO GST even though I am registered.Also I believe that you can claim as a tax deduction thru the business for leasing......

eddiesmith · Posted: Tue Feb 27, 2007 7:21 pm

Peter, this thread is a load of crap Laughing

You are giving advice to a fake problem Laughing

HAL · Posted: Tue Feb 27, 2007 7:25 pm

I haven't seen it. What did you like about peter pan ? I'm glad you find this amusing.

PeterWH · Posted: Tue Feb 27, 2007 7:29 pm

Eddie,you have your own business do you and you are in a position to advise....yeah and the pigs going past my windows have got wings.....

Dale if you need any more info send me a PM,as I have been in the same position and I am afraid that some of these 'poeple' here have no ideas.

Dale61 · Posted: Tue Feb 27, 2007 7:29 pm

ES, you say that because...?

eddiesmith · Posted: Tue Feb 27, 2007 7:35 pm

PeterWH · Posted: Tue Feb 27, 2007 7:42 pm

Yeah and I know what I am talking about....do you????.Been there done that had to do it all before....isnt it nice when some one knows more than you do ES

eddiesmith · Posted: Tue Feb 27, 2007 7:51 pm

member34258 · Joined: 05 Nov 2006

http://www.mfw.com.au/

fan4collingwood · Posted: Wed Feb 28, 2007 8:32 am

Dale61 · Posted: Wed Feb 28, 2007 1:03 pm

Just come home from trying to obtain finance, but as I'm on DSP, and in a relationship, they couldn't justify the amount requested.

Not to worry. I'd feel guilty if I received something I know I didn't have to work for.

Gazza05 · Posted: Wed Feb 28, 2007 2:42 pm

Just reading this thread and was about to say you have buckleys of getting finance ...I work in a Bank and we wouldn't even look at it...
The first thing we look at is proof that you can repay the loan and obviously from you figures you would struggle. Setting up a business that shows now profit from our point of view shows that you haven't got the funds for the repayments.

What in gods name are you buying a brand new $50,000 car for ?