I often wondered this
I'm a CPA but work in a totally unrelated field
I'm a CPA but work in a totally unrelated field
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Does anyone know what the definition of an accountant is?
Is it CPA or CA only?
Stupid question I know but if you have no problem servicing the debt why aren't you able to save the deposit? (Change your spending habits for a couple of months).
CPA sent this offer to my email maybe 6 months ago.
BOQ Specialist is just Investec and I assume they do the two tiered interest rate where the 80% is at X rate and the remainder is at a higher rate.
Not something brokers can offer as far as I am aware of.
Pretty sure the old adage "too good to be true" applies to this deal.
Otherwise I would get more out of my membership and not just paying $690 to certify docs...
The STG 90% proposal is much better than BoQ structure, however, would come in handy for those grads who don't qualify for the waiver.
Correct STG, Westpac etc will do 90% lends for accountants too.
To clarify:
BOQ will do 90% no LMI.
They will do the additional 5% to 95% on a second loan/split on 5yr P&I, interest rate was almost 9% though.
I guess if you have money in offset and pay down the additional 5% quickly you can negate the additional interest charges.
We have gone with the 90% no LMI @ 4.44% I/O for the time being
In other words they're essentially funding the last 5% via a personal loan, with some window dressing to make it look like a mortgage.
You'd be better off to simply stick with 90% no LMI if you have enough funds.
Like so many things in life, they're relying on the marketing phrase of "95% no LMI" to draw borrowers. I would hope that accountants can do the numbers well enough to realise what it really is.
I believe for BOQ purposes, they will only accept CA or CPA.
damn, I've only got a bachelor degree and work in the profession (no CPA or CA and the way things are going no plans of studying further)
My Chartered Accountant membership over the past 3 years has cost me 2400, about half the LMI I'm saving, so bout time it gave something back..
Just another piece of paper end of the day. I have met plenty of internal company accountants who are guns that are not qualified.
Hahaha
$2400 isn't the problem. Its the value of my time which is the problem lol.
Why do people become CAs or CPAs?
Why do people become CAs or CPAs?
Because law is less respected
Seriously because professional membership is recognised nationally and internationally and by employers themselves. Even Inst of Public Accountants etc is not really accepted. Best test is applying for a job. Some jobs are truly CA only. Most CPA or CA. Never seen an ad that says Institute of Public Accountants only should apply.
So its not just for the LMI waiver?
Which is preferred in employment circles CA or CPA? And what are the main differences?
Hahaha
$2400 isn't the problem. Its the value of my time which is the problem lol.
I know some good accountants who are IPA.
In general they are not looked upon with the same regard as CA or CPA.
Without being a smart *** the CPA doesn't take up much of your time
I only got average marks - credits mainly? But I never opened my study material more than a month before the exam
Just read the folder , do the practice q's on the net and you should be ok
I chose CPA because of the time thing - every one I spoke to who had done the CA had basically sold their soul for two years, or is it 3? I think it took me 3 years to do CPA