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05-06-2018, 10:15 AM
#3351
Originally Posted by Bjauck
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.
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05-06-2018, 10:18 AM
#3352
Member
Originally Posted by myles
I've reached another milestone in the last few days:
Recoveries $2.13
My recoveries have exceeded one dollar!!!
Do you mean Mylestone
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05-06-2018, 12:07 PM
#3353
Member
Originally Posted by myles
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.
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05-06-2018, 02:43 PM
#3354
Originally Posted by 777
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.
Last edited by Bjauck; 05-06-2018 at 02:53 PM.
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05-06-2018, 04:12 PM
#3355
Investor
Originally Posted by Bjauck
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.
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05-06-2018, 04:40 PM
#3356
Member
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
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05-06-2018, 04:42 PM
#3357
Member
Originally Posted by slingy
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
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05-06-2018, 05:42 PM
#3358
Originally Posted by Investor
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.
Last edited by Bjauck; 05-06-2018 at 05:53 PM.
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05-06-2018, 06:00 PM
#3359
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.
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06-06-2018, 02:01 AM
#3360
yeah, nah
Neil Roberts on 'raising capital for a start-up'
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