Harmoney

[777]

Good question. This plus The absence of an official tax ruling (or application for one) in relation to both lender fees and charge-offs for the small retail class of investor/lenders would indicate to me that they are more interested in the wholesale and “in business” lender side of “peers”.

Apply for a tax ruling if you are concerned about it. It is not Harmoney's responsibility to do it for you. Tax is your responsibility.

[permutation]

I've reached another milestone in the last few days:

Recoveries $2.13

My recoveries have exceeded one dollar!!!

Do you mean Mylestone

[RMJH]

Disagree, RAR allows comparison of portfolios and the various strategies used. It is a comparable value as it takes into account the whole investment - its one failing is that it only looks at current loans.

Fair enough. Though I cannot agree. There is a continuum of risk and return. Higher return doesn't necessarily mean better. It's an optimisation problem not maximisation.

[Bjauck]

Apply for a tax ruling if you are concerned about it. It is not Harmoney's responsibility to do it for you. Tax is your responsibility.

As a small retail investor the cost of applying for a tax ruling on charge-offs (& lender fees) could make the return (with the extra risk) from an investment in Harmoney not worth shifting any money out of big Aussie banks. The same would probably apply to other individual small retail lenders.

I think if they were keen for P2P to be truly broad-based, then all peers should have the same tax treatment for charge-offs and lender fees. That would need an industry wide official tax ruling.

[Investor]

As a small retail investor the cost of applying for a tax ruling on charge-offs (& lender fees) could make the return (with the extra risk) from an investment in Harmoney not worth shifting any money out of big Aussie banks. The same would probably apply to other individual small retail lenders.

I think if they were keen for P2P to be truly broad-based, then all peers should have the same tax treatment for charge-offs and lender fees. That would need an industry wide official tax ruling.

Most companies providing financial assets won't provide tax advice because if they are wrong, it could be very expensive. Stop expecting to have everything handed to you.

[joker]

Harmoney api stats for the week...

2018-05-27	784204925.0	42187
2018-06-03	784310900.0	42194

Does this mean their loan book grew by only 7 loans and $106k for the week? I assume this calculates as opening number of loans + new loans - repaid loans = closing number of loans?
Does anyone one know if this includes institutional as well as us little guys?
ScreenHunt.jpg

[joker]

2018-05-30 Funded Amount:1160400 Total Amount:1321800 Unfunded Loans:3 Part Funded Loans:0 Fully Funded Loans:45 Total Loans:48	2018-05-31 Funded Amount:873000 Total Amount:995600 Unfunded Loans:4 Part Funded Loans:0 Fully Funded Loans:39 Total Loans:43	2018-06-01 Funded Amount:606400 Total Amount:694750 Unfunded Loans:6 Part Funded Loans:0 Fully Funded Loans:30 Total Loans:36
2018-06-02 Funded Amount:70550 Total Amount:266675 Unfunded Loans:7 Part Funded Loans:0 Fully Funded Loans:5 Total Loans:12	2018-06-03 Funded Amount:10450 Total Amount:223525 Unfunded Loans:6 Part Funded Loans:0 Fully Funded Loans:1 Total Loans:7	2018-06-04 Funded Amount:5450 Total Amount:881575 Unfunded Loans:31 Part Funded Loans:0 Fully Funded Loans:1 Total Loans:32

The last 6 days brought to you by the API.
So the loan volume is still there we retail lenders just don't get to see them.
It also seems that of almost none of today's loans were released onto the marketplace.

Harmoney api stats for the week...

2018-05-27	784204925.0	42187
2018-06-03	784310900.0	42194

Does this mean their loan book grew by only 7 loans and $106k for the week? I assume this calculates as opening number of loans + new loans - repaid loans = closing number of loans?
Does anyone one know if this includes institutional as well as us little guys?
ScreenHunt.jpg

[Bjauck]

Most companies providing financial assets won't provide tax advice because if they are wrong, it could be very expensive. Stop expecting to have everything handed to you.

Having clarity provided by the company concerned or regulatory bodies on the tax impact of an investment in P2P is not exactly getting “everything handed to you”.

Product rulings could be provided from the IRD, which is not exactly having everything handed to you either.

Should NZ retail investors be given sufficient information to make a decision to diversify outside of home ownership and bank deposits?

As it is now, with the uncertainty whether retail investors can claim charge-offs or not, the plate is fuller for the business “peers”. Seeking IRD product ruling could result in all lenders being treated alike.

[777]

Just go to an accountant and get his/her opinion on charge offs.

My opinion is they are capital losses and therefore not deductible as a simple investor.

[myles]

Maybe of interest to someone:

https://idealog.co.nz/venture/2018/0...capital-start-