ABOUT THE AUTHOR

Frank Genovesi

Director, Genovesi Enterprises PTY LTD T/As Intellisovle
Financial and Lifestyle Strategist and Creator of Deduct Your Home
Amazon #1 International Best-Selling Author (Australia, Canada and USA), in multiple categories, Finance, Business and Taxation: Deduct Your Home

Hi, I'm Frank.

 

Deduct Your Home pulls back the curtain on my dream-building, transformative home business strategies, showing you how you can grab yourself a partial or even a FULL tax deduction for the interest on your home loan without necessarily paying any capital gains tax upon profitable sale.

Furthermore, the ongoing deductions can easily amount to tens of thousands per annum on your swimming pool, stunning gourmet alfresco, dream kitchen, luxury bathrooms, home theatre and more.

The BIGGER the dream, the MORE Deduct Your Home goes to work for you!

The crazy part is your accountant will rightly tell you that none of these areas are or ever will be tax deductible yet the tax man continues to privately approve these arrangements!

Visionary financial, taxation and real estate practitioner Frank Genovesi has re-set the playing field so you can allow the seemingly impossible to become your new everyday reality thereby and to have you Set Up For Life.

Frank’s exceptional grasp of Australia’s relevant intertwined legal, financial, taxation and various governance and regulatory systems, reveals many opportunities for simultaneous wealth and lifestyle enhancement.

No lawyer, accountant, financial planner, academic, bank, investment house, professional taxation or wealth advisory practice or professional association in Australia has ever advertised, published or endorsed anything even remotely like it.

Frank’s copy of an Australian Taxation Office (ATO), recorded confidential interview states that he owns the intellectual property (IP).

At his written request, the ATO also conducted a Formal Review into the matter under the Promoter Penalty Laws to ensure he wasn’t about to promote an illegal tax exploitation scheme and nothing came of it.

Additionally, The Australian Securities and Investments Commission and the Tax Practitioners Board (TPB), have long each held a copy of the IP again with no issues raised.

Finally, Frank asked the TPB if it had a problem with him proclaiming before counsel for the ATO in the Administrative Appeals Tribunal and elsewhere, that he is Australia’s foremost expert in his field and Australia’s sole trainer to the financial, legal and accounting professions in such regard whereby the TPB wrote back to say that is not a breach of the Tax Agents’ Code of Professional Conduct (i.e. honesty, integrity, competence and more).

Regardless of your background, education, sophistication or wealth, this book is a revelation of many unprecedented opportunities that are easy to grasp, allowing you to prosper like never before.

Enjoy the read,
Frank Genovesi

• Ex-25 Year Long, Financial, Life Insurance, Superannuation and Self Manged Super Fund (SMSF) Adviser
• Fellow of the National Tax and Accountant’s Association
• Ex-17 Year Long, Real Estate and Business Sales Professional (Western Australlia)
• ASIC Registered Agent
• Registered Tax Agent
• Business Adviser
• Entrepreneur

WHY I WROTE THIS BOOK!

There I was, a successful financial planner who was looking to sell my business and semi-retire at age 40, however somewhat aghast at the amount of capital gains tax that would be imposed.

The thing back then was that I was struggling big-time to find anyone in the taxation, financial and legal professions who could correctly and holistically advise me on how to use the sale proceeds to upgrade my home, again without having to pay any tax on the business sale.

So unless I pulled a rabbit out of my hat, I figured I'd be stuck living an average house in an average suburb and with a significant impending tax bill from the business sale.

This lead me to spend many sleepless nights neck deep and sometimes beyond, unveiling the murky depths of the tax law and as I went along, I necessarily developed new ways of thinking outside the box.

I ended up determining that, by running a home based business, I COULD have my cake and eat it too (and I have to say that I was getting pretty darned pumped by that stage)!

To put my ideas to the test, I then wrote to the Australian Taxation Office for something called a private binding ruling (PBR), in an effort to get it to see things differently i.e. to see things my new way (of note, a PBR is the tax man's official view on how he'll apply the tax laws to your personal situation as described in the application and it represents the epitome of legal protection in Australia against potential adverse tax findings by the regulator).

Then, something amazing happened ... the tax man actually wrote back to basically agree with me on the substantive issues ... I almost went numb!

From that point everything changed as I'd learned a big lesson about being focused and of the power of challenging the status quo and I set about reprogramming myself to effectively deal with the authorities in my quest to bring about positive change!

Instantly it became crystal clear to me how to structure my affairs to use proceeds from the sale to contribute towards a home upgrade and better yet, that those proceeds would not be taxed.

I also realised that the ways and means I'd configured, could be reconfigured to suit people in many different types of situations and regardless of whether or not they had a business to sell.

However and just when I thought I'd finally hit the mark, another bleak realisation smacked me in the head as I realised that no one before me had given much thought to the real extent of the yearly deductions as able to be claimed by a home business operator. Based on current mainstream thinking, I was looking down the barrel of only being allowed to claim a pittance every year in ongoing deductions as applicable to any business I might run from home.

And so it was back to living almost day and night in the long corridors of the many, many different Commonwealth tax Acts that affect small business owners (ITAA 1936, TAA 1953, FBTAA 1986, ITAA 1997, GSTA 2000, APSIA 2000 - good God I'll stop now just to spare you). I wish though that it could have been that simple and easy as I also found myself embroiled in how the tax Acts need to work alongside the Corporations law, many state and territory laws on matters of planning, stamp duty and land tax and not to forget local council by-laws. So much so, this massive investigation and dot joining exercise became my full-time obsession (hmm, hmm I mean occupation), for about the next six years!

As I travelled this even newer path of figuring out deductions, I had literally hundreds of interactions with the tax man throughout which I conceived newer and better ways to attain massive and ground-breaking, ongoing yearly deductions as agreed to by the tax office. Effectively, I'd arguably found an entirely new way to practice financial planning by placing one's home as their centerpiece and I was still using myself as the guinea-pig, albeit I did successfully put a few others through the ATO's private ruling system for good measure.

In an effort to be as transparent as possible, I wrote to the then Federal Treasurer asking him to to liaise with the Commissioner of Taxation on whether or not they had any issues with my procedures including whether or not they felt I was expoiting any loopholes they would rather tie-up.

This resulted in The Treasurer's taxation liaison officer writing back to me on the letterhead of The Office of The Federal Treasurer to say he'd discussed my home business proposals with the Commissioner and that the Commissioner said that if I wanted the government's protection, to submit private binding ruling applications on behalf of my clients on my schemes.

Boom - simple I thought!

It's important to remember that this all happened after a significant build up of prior communications with the Federal Government and the ATO in which I had made it crystal clear the proposals were squarely based on my company's intellectual property which the ATO had already acknowledged and has never since challenged!

Invitation in hand, I then spent several months perfecting my next master-stroke in having prepared training packages and template advice documents for accountants and financial planners to use with their clients as I believed that in accommodating their needs, more people would benefit from getting these awesome private rulings than just myself and my own clients.

I unfortunately learned however that other advisers had little appetite for and or capacity to learn something bold and new that did not accord with traditional, conservative views and hence that plan failed dismally (so much for my so called "master-stroke")!

As you might imagine, my confidence took a huge hit as I had exhausted myself trying to get through what I experienced were the enormously thick and stubborn skulls of the various professions I'd been dealing with, most of whom were terrified of doing anything different to what they knew, regardless of what I had explained.

After this, I was practically broke, personally quite devastated, professionally detached from the mainstream and very much unsure of myself amidst a world that I had absolutely dedicated the last several years of my life to like noone else I had ever known!

With a family to support, I spent the next few years reestablishing myself as a financial adviser and then a business and a taxation adviser and these days it's always good to genuinely help those who cross my path. My professional practise is located in the Perth Hills, in the suburb of Darlington, and I deal with a variety of individual and business clients all with differening needs.

Focusing now on tax and business advice, I enjoy my work and I intend to keep at it albeit I have always kept the "Deduct Your Home" flame flickering .

In my life I have found that nothing is ever wasted upon me, not even the abject horror of repeated and prolonged professional rejection that cost me so much.

Not being one to lay down and die, I've dug very deep to have found a renewed vigour hereby to have rewritten the materials this time however, directed toward individual users in the hope that good folk like yourself will soon understand how you've been failed by your legal, financial and taxation advisers and their respective professional associations plus the banks and insurers who own some 80 percent of the financial advice networks, along with many notable others in public and corporate life who really didn't want to know.

Again, this time however, I have an ever-strong message that if you want to design a more comfortable and prosperous life i.e. a better life, then you absolutely can and that my substantial body of work now exists in the form of honest, rigorously tested, proven and regulator vetted practical help that the rest don't know how to provide and which will keep you well within the law.

Accordingly, my visionary book "Deduct Your Home", exists to detail the many reasons why I believe a home business strategy is unquestionably (well at least for most people), the farthest-reaching and arguably the best, combined financial, business and lifestyle strategy currently available in Australia.

Building on this success, I have some very switched-on colleagues in Sydney who are working with me to attract others to this new home business system. Whilst I call it "Deduct Your Home", they they say it fits beautifully with their ethos of It's Time for people to wake up and get their sh*t together which in this case means working on your own terms from home as the premium launching pad to so many benefits.

All you need to do is to run a business doing whatever you want, it could be anything! For me, the obvious one is a music business as that's what I do on the weekends being I'm a muso who plays gigs typically either solo and or in bands - always have, always will. So the question is; what's your thing, your dream, your truth?

It might be camping, fishing, teaching maths, creating art, doing up cars, signing people up for home loans, share trading, dog washing, plumbing, architecture, whatever!

Actually I don't care as it's your dream but hey, once you click with this and unless you're an idiot, your part-time or full-time home business can bring you a lot of joy and financial abundance in numerous ways many of which have nothing to do with the money it should bring in if well planned and well run!

So go find it, as these days (and in just a matter of minutes), I can very accurately forecast how many thousands, tens of thousands (and in some cases more), of new tax deductible annual expenses you can claim as business costs, without actually spending any more money than at present.

And as if that's not enough, and as long as you're happy to dig a little deeper, I repeat that doors can, and do, open to significantly more financial success - as well as more comfort and fun around your home and beyond.

I'm talking about claiming tax deductions on certain quantities of food and drink, giving gifts to yourself and your family, completing home extensions, upgrading to a better home in a better area, buying new or antique furniture, buying cars, taking interstate and or overseas travel and so much more).

Yep, this book will tune you in to how it's all funded in various degrees, by income you don't have to pay tax on.

Heck, I could have called this book "How To Get A Tax Deduction On A Large Chunk Of Your Life"!

Consider that, year after year, your oblivious advisers have kept their mouths shut so either he, she or they are right, or I am.

As they say in New York City, where some 30 years ago I gigged heavily as a musician for two and half years, in what seems like a past life ... "go-figure"!

Time's a wasting my friend... so to end off, I'm very excited to have come out from under the clouds again and to be sharing this with you.

It's now YOUR TURN to explore and enjoy these types of results, and so I urge you to order your copy right now - yes now, being it's the only available way on the planet to begin getting your head around utilising your home to usher in a new era of home based beauty, simplicity and prosperity.

Warning and Disclaimer: Please understand that I truly believe that whilst all information is supplied in good faith, that nowhere else in Australia will you have the opportunity of duplicating the typical results I get for clients with my proprietary strategy, Deduct Your Home.

This is because since 2001, my company alone set out to create, test and continually refine the intellectual property that underpins all of this firstly upon myself, its director, and only then upon our clients.

At various critical stages throughout, I collaborated closely with the ATO as well as dealt with other regulators such as ASIC and the Tax Practitioners Board and, also with the Office of The Federal Treasurer, which at my direct request, discussed my firm's intellectual property (IP), with the sitting Commissioner of Taxation, to have then reverted in writing directly to me, as requested.

Notable others include a then current former Deputy Liberal Prime Minister, other then current Federal front-benchers and, members of the Federal Opposition along with many others.

All up, I have achieved stunning results along with numerous instances of ATO cooperation with my explicit requests to keep my firm’s IP from residing in the public domain.

It is not unreasonable for me to speculate that the average person (and yes – this includes even the most highly regarded tax professionals in Australia), whom might try something like this on their own, will most likely be unsuccessful precisely because:

1. It's very complicated and hard to get right while you're learning the ropes of this specialist field. And make no mistake, that due to the nature of the cumbersome wheels of government agencies, there is a steep learning curve (which I have gone through) and;    

2. Noone else has ever done it like this!

From time to time I use 'virtual scenarios' for vision-building and illustrative purposes only (albeit they are meticulously based on my firm's IP and modelled on what is is real for current clients - and achievable depending on one’s specific realities).

Any and all assumptions herein are based on my past and current examination, testing and interpretation of many Federal and State Legislative Acts and Australian Taxation Office Rulings together which may change in the future.

Such also extends to in-depth analysis and field testing of the application of local government planning policies.

Your potential for gaining profit or loss from running a home-based business has not been expressly factored as I have no way to determine your future prospects and possible results in this regard at this point in time.

Even with my close guidance, your results will vary and depend on several key factors - including, but not limited to - your background, experience, intelligence, current financial capacity, ability to be coached and to implement expert advice, your work ethic and more.

The facts are: all business entails risk, planning, testing and measuring - as well as massive and consistent effort and action.

If you're not willing to accept this, please, DO NOT TAKE ANY FURTHER ACTION either alone, with me or through anyone else.

Mortgage interest rates and capital returns from property change, which can have a direct impact on your financial position over the short, medium and long-term.

I categorically disclaim, any and all liability and/or loss by you on the basis that at this point in time, I have not given you any personal or business advice of any nature whatsoever - being I have NOT collected and analysed information that pertains to your business, financial and personal circumstances which means I cannot comment or advise as to the suitability or otherwise of the information herein as it relates to your situation.

If you want protection under the law, either contact the government agency you beleive appropriate and deal directly with them - or find another firm that has done anything remotely similar or "exactly this".

Alternatively, contact me for a consultation from where it may arise that you become a client, thus affording yourself certain and solid protection under the law.

Taxation and other laws are subject to change as is the interpretation of these laws by the various Commonwealth, State and local regulators. Therefore like all committed professionals, I work hard to keep appropriately abreast however and in particular being that I focus heavily on the home business sector, I hold the view that my expert well-formed, documented and regulator vetted opinions have no peer.

Consequently, I duly caution you against acting upon others' advice taken in this specialist and niche area without, and at the very least, engaging me for a second opinion.

Finally, any and all references to me, my, myself and or I, do for the stated purpose, equally pertain to Genovesi Enterprises Pty Ltd.