Chan & Naylor book ‘How to legally reduce your tax’, found in an unexpected corner of the world.
As we all know, Queensland is beautiful one day and perfect the next. As you may also know our clients come from a many and varied back-ground.
The below letter was recently received from one of our clients, when asked ‘How did you find out about Chan & Naylor’?
I bought Ed Chan’s (and Tony Melvin’s) book (How to Legally Reduce Your Tax) in a seedy, dimly lit, smoke filled, purple carpet lined bookshop at some godforsaken hour at Murtala Muhammed International Airport in Lagos, Nigeria – all the while peering apprehensively through the gate window at a rusty, rivet popped old airbus lined up at the aerobridge and praying it was not my flight. Good news – it wasn’t, however Ed Chan’s soothing explanations of tax structures kept me relaxed for those somewhat exciting few hours!
Still no idea how the book came to be in Nigeria, but had obviously been pre-loved, so I suspect it had its origins in Australia but went on a bit of a global adventure..!
On a more serious note, the book was easy to read and impressed me – I remember still being impressed with the notion of “control everything – own nothing” in regards to asset protection and I did like the idea of a trust with no vesting date to protect future generation beneficiaries. I was keen to push ahead with an aggressive property strategy and was on the right income to make it worthwhile. The closure of the operation I worked at and the upcoming redundancy put a halt to my plans as I thought if I don’t earn any income this year, then the tax benefits would not be there.
I was brought up in a family owned aviation business and ran a business myself for a few years in Ghana, West Africa, and the sum total of personal learnings and family instilled business advice was – don’t worry about the cost of getting things (i.e. structure) right, it will pay dividends in the future (i.e. no surprises) – always have a good accountant / accountancy firm and build a relationship with them. So on my recent move to Brisbane from the crocodile infested north, I thought I would look you up.
So I’m finally learning my lesson albeit timing is a bit out – current plan is a bit variable!
To conclude, the succinct answer you were probably after was “I heard about Chan and Naylor though the writings of Ed Chan”.
But a short answer like that would not have been nearly as good a read, would it?!
There you have it! One happy new Chan & Naylor client with a very interesting travel story finding a copy of one of our books in the most unexpected of places.
Michael Burgess – Director, Chan & Naylor Accountants Brisbane
Disclaimer: This article contains general information. Before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs.