Myself and my investment partner have paid thousands of dollars for tax advice and setting up of trust structures for property investment to the director of this company. After going through so much time and effort, the structure was setup wrongly resulting in us unable to negative gear against our investment - what a blunder for a professional! Worst of all, the accountant did not take responsibility and blame the convenyancer (although is a lawyer) for not informing them on the wrong structure setup by the bank. After the whole fiasco, the account revealed that this type of complex structure should be set up if we have asset value of above a $1m in asset; the property we bought is less than $200K! Basically, we felt ripped off by paying for all the wrong advice and high setup fees that only benefits the professional service.

Approximate cost: $3000