Moree         Ph: 0267 591000
Bingara      Ph: 0267 241677
Warialda    Ph: 0267 291216
reception@candw.com.au



 

 Business Brief
                                                                                                     April 2012

 

 
IT"S A BOY 

Congratulations to Chris and Fiona Kelly on the birth of their second child.

A bouncing baby boy!!

Chris and Fiona welcomed Xavier into the world on 12th April.
. 
 
                                                  

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Golf Ethics question 


What if you were playing in the club championship tournament finals and the match was halved at the end of 17 holes.

You had the honour and hit your ball a modest two hundred fifty yards to the middle of the fairway, leaving a simple six iron to the pin.

Your opponent then hits his ball, lofting it deep into the woods to the right of the fairway. Being the golfing gentleman that you are, you help your opponent look for his ball. Just before the permitted five minute search period ends, your opponent says:

"Go ahead and hit your second shot and if I don't find it in time, I'll concede the match."

You hit your ball, landing it on the green, stopping about ten feet from the pin.

About the time your ball comes to rest, you hear your opponent exclaim from deep in the woods: "I found it!"

The second sound you hear is a click, the sound of a club striking a ball and the ball comes sailing out of the woods and lands on the green, stopping no more than six inches from the hole.

Now here is the ethical dilemma:                                                    


Do you pull the cheating so-and-so's ball out of your pocket and confront him with it or do you keep your mouth shut?.

 


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 C  & W Partners continues to help.                       

Over the  last year C & W Partners has been bedding down its redesigned financial planning arm.
 
We are delighted to say that our relationship with Henderson Matusch has been particularly beneficial for clients so far. 

As part of this redesign Trent Humphreys, our Financial Planning partner, is now fully at home being licenced under Henderson Matusch. Also working along side Trent is Kate Forshaw in the role of Client Services Manager. This role has been put in place to help Trent with the growing financial planning client list to assist and maintain the highest level of service associated with C & W Partners financial planning offering.

Why is C & W Financial Planning licenced under Henderson Matusch?

It all actually started when Mark Johnson was having a discussion with Ben Matusch (the General Manager of Henderson Matusch) at a seminar. They were comparing stories of experiences of financial planners and clients during the GFC. Mark was highly impressed with their systems and processes and the way they were able to navigate a way through for the clients. This lead to an official introduction to all the team at Henderson Matusch and over the last 12 months culminating in our partnership for the future.  Another reason was that we simply enjoy forming partnerships with people we like and respect.

Who are Henderson Matusch?

Founded on 1 July 2004, Henderson Matusch (HM) was formed by a group of like-minded financial planning professionals who saw a need to 'humanise' the world of finance and enable everyday Australians to benefit from 'real world', achievable financial strategies.

Henderson Matusch, like C & W Financial Planning, is committed to delivering the highest standards of customer service and integrating your financial and lifestyle goals into a single strategy to create greater lifestyle options. As a result, our financial strategies are designed to help you achieve financial success without compromising your lifestyle, so that you can get on with enjoying all that life has to offer.

Henderson Matusch operates under AFSL & Australian Credit Licence No. 274484

Are any new Services offered?

Yes.

We  continue to provide our very strong retirement service offering for clients but we also believe we have enhanced our offering substantially in terms of wealth creation. Using Henderson Matusch's Wealth Creation Solution, we believe we are now placed to offer the most holistic of wealth creation strategies to salary and wage earners looking to achieve their goals far earlier than possible without advice. By using sensible strategies, we are able to significantly reduce total mortgage interest and timeframes and enable the commencement of savings for far more enjoyable pursuits by years.

If you have 30% or more equity in your home, have regular/fixed incomes and are worrying about how you can achieve your goals and retirement outcomes, please call Trent Humphreys for an appointment today on 02 6759 1000. He wants to help.

 
 

     Finagri Update
 

 

Our joint venture company Finagri Pty Ltd has been providing some excellent solutions for our clients.
 
Justin Barnes has sourced a very flexible banking facility where a round bale cotton picker imported from the USA was funded via a trade finance facility until the picker arrived in Australia.

Upon arrival in the country, the trade finance loan is converted into a traditional equipment finance chattel mortgage. This facility provided a great solution for the client where conventional equipment finance lending would not have allowed the purchase to be funded.

Justin has also sourced some successful refinance options for clients who were seeking improved levels of service and product offering. The clients will save a significant amount on their annual interest going forward as well as a more tailored set of banking products to suite their business.

Another new client was also looking at a property purchase which was "outside the circle". The client and Justin worked closely for some time to put the deal together and took the proposal to three banks. Financed was sourced and approved in a short time frame with the client extremely happy with the outcome as it will allow them to move forward with their goals for the future.

Please give Justin Barnes a call on 0429 693 524 if you wish to discuss any of your agri banking or equipment finance requirements.

 

 

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Flood Disaster Assistance


As reported in the previous Business Brief the Government has a number of measures to assist those business and farming operations affected by the recent floods, including grants and low interest loans.

Should clients be having difficulties in completing the various application forms or the collation of the financial data required, please contact your C & W advisor for assistance.

Also worth noting is the ATO has a number of measures designed to assist taxpayers. These measures revolve around the easing of statutory lodgement and payment deadlines. Again contact your C & W advisor for more information in relation to this matter.

 

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Moree's Sesquicentennial Celebrations

 

The town of Moree celebrates its 150th anniversary (1862-2012) in April including a wonderful historical display to be held at the Town Hall beginning 2 April.

C & W Partners, formerly Cummins & Wallace, as one of Moree's oldest businesses (operating since 1921) will be conducting a display detailing some of the history of the firm and we would encourage clients and associates to visit the display.

In addition C & W team members will be assisting the committee on the day of the Sesquicentennial march, on 14 April,  and look forward to seeing you there. 

                                                                                                                      

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Fuel Efficient Motor Vehicle Cost Limit

For the 2012 financial year, for most motor vehicles, the cost limit for depreciation and GST claims is $57,466.  However fuel efficient motor vehicles have a higher limit of $75,375.

So even if the vehicle price is more than these amounts the claim for depreciation and GST input tax credits is capped at these limits.

To qualify as fuel efficient, a motor vehicle must have a combined-cycle  fuel consumption of 7L/100km or less. 

Below is a list of some fuel efficient vehicles (brand new) that would have a cost limit of $75,375

Make

Model & Year

Fuel consumption (L/100km)

Audi

Q8 Quattro 2011 (4WD)

6.8

BMW

328i 2012

6.3

BMW

X3 F25 2011 (4WD)

5.6

Jaquar

XF X250 2011

6.3

Landrover

L538 2011 (4WD)

6.5

Lexus

CT200H 2011

4.1

Lexus

RACKS 2011 (4WD)

6.4

Mercedes

E250 CDI 2011

5.9

Volkswagon

Passat 3CC 2011

6.3

Volvo

XC60 2012 (4WD)

6.9

 If you are considering a higher priced motor vehicle purchase the tax incentive for fuel efficient vehicles is certainly beneficial.  

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 Conservation Tillage Refundable Tax Offset

From 1 July 2011 taxpayers will be entitled to an offset of 15% of the cost of an eligible asset that;

   * they held during the income year,
   * they started to use or had installed ready for use during the income year in the course of carrying on
      a primary production business, and
   * where the asset is new.

Eligible assets include;

   * tine machines fitted with minimum tillage points to achieve minimum soil disturbance and less than full
      cut-out, including narrow points, knife points or inverted "T" points,
   * disk openers (single, double or triple arrangements) and
   * disk/tine and disk/blade hybrid machines.

The offset is in relation to years commencing 1 July 2012 through to 30 June 2015, and will be claimed through the entity's tax return.

One further condition to ensure the offset is available is that the taxpayer must have been issued with a "Research Participation Certificate" for the income year in which they claim the offset.

The certificate will be issued by the Agricultural Secretary (Department of Agriculture, Fisheries and Forestry) once the Secretary is satisfied that the taxpayer has completed a "conservation tillage survey" during the income year.

The survey relates to farming practices and climate change, and will detail the taxpayer's use of the eligible implement, farming and management practices, also including soil condition and soil management.

The survey will be available from the Department of Agriculture website in due course but will include;

   - entity details,
   - equipment price/width/date of purchase/ready for use dates,
   - perceived benefits, and
   - current management practices.

As we approach 30 June it will be beneficial for clients to defer such implement purchases to post 1 July 2012 to ensure eligibility of the 15% tax offset.

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