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Thread: Harmoney

  1. #4031
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    Leesal, think about who owns the money you have in Harmoney. If passing income through a trust to your partner would enable you to reduce the tax rate then the income attributed would no longer be yours or your trusts but your partner's. If you are willing to make "your" money relationship money then perhaps ask why the Harmoney money shouldn't be your partner's share of the whole of your relationship money. That might mean all Harmony income can be attributed to your partner.

  2. #4032
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    Quote Originally Posted by myles View Post
    Yep, no shortage of loans at the moment, but some are going quickly.
    The xmas consumer borrowing rush has begun. Has anyone done analysis of the default rate by origination date? ie, are these loans in the pre/post xmas rush (mid Nov - end Jan?) more or less likely to default? I would suspect they have a higher default rate than loans originated through the rest of the year, particularly the lower graded loans.

    Pure speculation on my part, but would be good to know.

  3. #4033
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    Quote Originally Posted by Vagabond47 View Post
    The xmas consumer borrowing rush has begun. Has anyone done analysis of the default rate by origination date? ie, are these loans in the pre/post xmas rush (mid Nov - end Jan?) more or less likely to default? I would suspect they have a higher default rate than loans originated through the rest of the year, particularly the lower graded loans.

    Pure speculation on my part, but would be good to know.
    Been in 44 months, starting March 2015. Total A-D Grade Loans Taken 1880 and E-F grades 105.

    Have enclosed Charge-offs from earliest date issue order. Put the loans in 4 Groups A&B,C,D,E&F. Have marked Charge-offs issued near the Holiday period.



    Attachment 10159
    Last edited by permutation; 16-11-2018 at 07:35 PM.

  4. #4034
    yeah, nah
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    Quote Originally Posted by Vagabond47 View Post
    Has anyone done analysis of the default rate by origination date? ie, are these loans in the pre/post xmas rush (mid Nov - end Jan?) more or less likely to default?
    If you go back a few pages you'll find a graph of exactly that.

  5. #4035
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    Quote Originally Posted by BJ1 View Post
    Leesal, think about who owns the money you have in Harmoney. If passing income through a trust to your partner would enable you to reduce the tax rate then the income attributed would no longer be yours or your trusts but your partner's. If you are willing to make "your" money relationship money then perhaps ask why the Harmoney money shouldn't be your partner's share of the whole of your relationship money. That might mean all Harmony income can be attributed to your partner.
    Thanks. One of those age old question, tax efficiency or maximising trust assets. Nice advice and given me a lot to think about. Might consider a ltd liability company with dividends through to my partner.

  6. #4036
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    Quote Originally Posted by myles View Post
    If you go back a few pages you'll find a graph of exactly that.
    This is just observation, when looking at the data between different years previously. I observed that arrears/defaults in xmas 2017 (nov & dec17) against other months of the year showed a deterioration during the xmas months. However in prior years there wasn't any difference.

    Can confirm when get back home tomorrow, and relook at the data.

  7. #4037
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    Quote Originally Posted by leesal View Post
    Thanks. One of those age old question, tax efficiency or maximising trust assets. Nice advice and given me a lot to think about. Might consider a ltd liability company with dividends through to my partner.
    Company dividends usually go to shareholders pro rata. In your circumstances anything else will attract the attention of IRD as a tax arrangement and you'll be in strife. I suggest you see a tax specialist, but in my experience there is no simple fix.

  8. #4038
    yeah, nah
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    Quote Originally Posted by BJ1 View Post
    there is no simple fix.
    Create a Harmoney account in your partners name... Lower tax rate means higher investment return, which results in a higher compounding effect etc. Assuming that's an option?

  9. #4039
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    Good suggestion, but not sure an account in her name would be an option. Need to balance preservation trust capital with tax efficiency. Thanks for the suggestion, would otherwise be a good option.

  10. #4040
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    Quote Originally Posted by myles View Post
    Create a Harmoney account in your partners name... Lower tax rate means higher investment return, which results in a higher compounding effect etc. Assuming that's an option?
    I've considered this in the past, but are there any other IRD considerations? Say we had a bank account where we are both joint holders. Could my partner open a Harmoney account in their name, with deposits paid from that joint account, and be considered a separate entity in regards to tax bracket?

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