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Centr al Coas t

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Vol 25 Feb 2014 Published monthly (except January)

business review

Maxeine McKeon’s 35 years in travel Approvals galore as Gosford ups the ante Government opens gateway for Wadalba subdivision Central Coast broadband update FEATURE P22 SELF MANAGED SUPER FUNDS

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con t en ts

Read ersh ip

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Cover Story

27 Selecting your personal advisor

3 Maxeine McKeon’s 35 years in travel

28 Action needed on local jobs following another manufacturing closure

Business News 7 Masters’ new West Gosford store opens 8 Approvals galore as Gosford ups the ante 9 Halley & Mellows hosts CCMC final 2013 event 10 2014 Central Coast Tourism Board announced 11 Government opens gateway for Wadalba subdivision 12 Central Coast broadband update 13 $50 million expansion for Westfield Tuggerah 13 Government to fund Smart Work Hubs 15 RDA Central Coast appoints new CEO 15 Multinationals quit Coast 27 Consultation about changes to regular rosters and regular hours of work


Front cover: Maxeine McKeon, Managing Director, Harvey World Travel Erina Group

28 Stop being a victim and save money on Workers Compensation 28 Government to shake up franchise sector 28 Small Business urges Government to keep tax breaks to re-build tax receipts

Regular features

Central Coast Business Review

6 Edgar Adams’ Editorial

Central Coast Business Review is a Registered Trade Mark of Adams Business Publications Pty Ltd P.O. Box 3259, Erina, NSW 2250 Phone: (02) 4367 0733 Fax: (02) 4367 0744 Email: Typesetting by Graphic by Design ph (02) 4365 6777 Print & Distribution by Bromley Direct ph 0412 439 773 © Adams Business Publications 1994. All rights reserved. Reproductions in any part prohibited. While every effort has been made to ensure all information in this magazine is accurate, no responsibility will be accepted by the publisher, Adams Business Publications. The producer accepts no responsibility for illustrations or photographs supplied by organisations or individuals and/or typographical errors.

14 Business Briefs 17 Commercial / industrial properties For Sale / Lease 19 Property News 27 Business Tips 29 Events calendar 30 Funny business 22 Self Managed Superannuation Funds feature

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cov er s tory

Maxeine McKeon’s 35 years in travel There are many ways to judge the success of a business or more particularly that of the business owner but undoubtedly longevity has to head the list. Businesses that have been around for twenty years or more with the same owner have obviously been doing something right. It certainly is not luck because in the world of business luck doesn’t stretch that far.  One of the most successful business women on the Central Coast and one of the most successful and respected travel agents in Australia is celebrating 35 years with Harvey World Travel this month. In fact Maxeine McKeon commenced with Harvey World Travel’s very first franchised Agency and became a Foundation Shareholder in the HWT franchising company, with some six years a Director of the company. McKeon grew up on the Central Coast and her first job was in travel where she gained experience and qualifications in the industry, subsequently buying the newly established travel agency at West Gosford – that was in February 1979.  Perhaps that was luck, but by adopting very sound, and basic business principles McKeon established a thriving business in a highly competitive market place. By the mid 80’s it was time to take advantage of the Harvey World Travel brand and think seriously about expansion. In 1986 she took the HWT brand to Lake Haven followed by Terrigal, Wyoming and Bateau Bay (all subsequently sold off ). Then in 1991 opened an agency in Erina selling off the West Gosford agency. It was also


during this time that McKeon was gaining a strong reputation within the HWT franchising group for her business acumen, industry knowledge and straight talking. Her reputation and industry knowledge saw her appointed a Director of the Franchise company in 1993 . During this period she became Chairperson of the Company’s Strategic Planning Committee until it became a listed Company in December 2009. She then became a Director of the Harvey World Travel Property Company . All the while running her own agencies on the Coast and attending University.   Meanwhile the Australian travel industry was undergoing significant change in the form of takeovers and amalgamations . At this time McKeon acquired the Thomas Cook agency which included the Travelex Foreign Exchange Bureau at Erina Fair followed by the Qantas Travel Centre later that year. That was 2003 and the following year opened a further agency in the Myer Mall at Erina Fair.  Over the years McKeon’s policy of expansion and consolidation has paid off. More recently, in February last year, she opened another agency at the new Kincumber Shopping Centre thereby ensuring her a strategic footprint in the local marketplace. Her Harvey World Travel (Erina Group) now comprises the two agencies within Erina Fair along with the head office at Fountain Plaza, and now Kincumber. McKeon comments that in business, you see a void and you need to fill it. Having

recently merged another agency with her group and is now about to merge the Terrigal Harvey World Travel agency with the Fountain Plaza location.   During McKeon’s career the most prized achievement has been her selection as a Virgin Galactic Accredited Space Agent in 2006, one of the first nine in the World to be accredited , and the only one in regional Australia. Virgin Galactic are developing a space travel programme with their suborbital space ship which is now undergoing extensive flight tests. She says the highlight of her career was meeting Sir Richard Branson and his family in New York along with NASA Astronauts Buzz Aldrin and Mark Kelly along with Burt Rutan. Visting the Spaceport in New Mexico must also rate highly . McKeon says that despite the US $250,000 price tag there continues to be interest especially after the announcement of another milestone in the program.  (  Over a thirty five year period one has to expect some bad times and it is in adversity that Maxeine McKeon has shown that she has the mettle to be a highly successful business woman. Asked what the bad times were, she responds, “two Iraq wars, 1990 and 2003, the 9/11 Twin Towers attack in New York, SARS and volcanoes. The Twin Towers attack and the collapse of Ansett in the one week was by far the worst, it was like turning the tap off only worse. Instead of earning our normal income we were refunding bookings causing our cash flow

cov er s tory

to go backwards. This situation was further exacerbated when Banks refunded clients all previously authorised charges leaving Agents to cover the entire cost of the client’s flight reservations. But we never laid off staff. “ We had an immediate need to rebuild the business, and with such commited staff we asked ourselves HOW? “During the Gulf War we organised and sold tickets for Phantom of the Opera tours to Melbourne and following 9/11 we developed a strong partnership with Scenic Tours to sell Canada & Alaska Tours. The initiatives with Scenic (now the World’s biggest Tour Company) , have proved to be enormously successful.”  “You have to have the ability to adapt and reinvent yourself, and never give up,” says McKeon.  “When I first started the domestic airlines paid a commission and clients booked through travel agents. Now the commission is negligible or non existent. The internet is a challenge but we also see it also as a tool , as our experienced consultants offer clients best options and advice.  Asked what she puts her long term success down to, McKeon says, “You have to be genuine in your dealings with everyone; whether it be clients, suppliers or staff. We are hugely reliant on repeat business and referrals. We focus on customer retention with many of our clients going back to when I first opened, they are almost family.” McKeon employs over twenty staff but still starts work at 7.30am each day and is often the last to leave. She says that hands-

Maxeine McKeon with Sir Richard Branson in New York following her accreditation as a Space Agent on work at every level of the business has contributed to her success. She relies strongly on team leaders in each business location and has strict guidelines for all her staff. “But first you have to choose the right staff and get them in the right seats. You must encourage them to be their best. We have a core of long term staff who have been with us for more than ten years.” McKeon also has a strong involvement in the community as a whole. “I feel that it is my duty to support the community that has contributed to the success of my business. We sponsor a diverse group of local not for profit organisations , sporting and school groups. It’s about looking after your own patch,” she says. “We also offer strong support to the Business Community

and have a long term arrangement with the Central Coast NSW Business Chamber sponsoring their Business Breakfast / Lunch Series.  So what of the future? McKeon says there are times that I can’t believe my journey so far however with the Harvey World Travel franchise company presently undergoing massive change and at the HWT Erina Group we too are now considering our future directions in terms of keeping ahead of the competition and being at the forefront of changes in the industry.” “Whatever decisions we make, and our name may change, there is one thing that will not change and that is our commitment to our clients and thank them for being part of our journey so far. .”



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e di t o rial

Edgar Adams discusses local issues

Government continues to prevaricate over Gosford

Right now though we have a new Minister for the Central Coast in the Hon. Michael Gallacher, MLC, Minister for Police and Emergency Services. Two of the most time consuming portfolios in government. This Editor believes he may well turn out to be a good minister for our region. But in the end will he be thwarted by a disinterested, do nothing Premier. Meanwhile more jobs on the Coast will be lost following the announcement by multinational corporation SABMiller that they will close Bluetongue Brewery at Warnervale. This follows on from an earlier announcement late in 2013 that another multi-national company, Kellogg’s would close their operation at Charmhaven. We may be upset but we need to understand that corporate such as these have only

one interest in mind - their share price and thus their shareholders most of whom these days are mutual funds and superannuation funds. Its a harsh reminder that investments by big corporations are very very transitory. At this point it is a good opportunity to suggest you read our Cover Story. Maxeine McKeon is a self made businessperson who has weathered the really big storms over thirty-five years. McKeon is a home grown local success story who believes in the region and backs it. Edgar Adams Editor

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And this brings us to another point. What does the “Minister for the Central Coast” actually do? Well, the short answer is absolutely nothing. It was the same story under the previous government except for the last four years when the Member for Wyong, David Harris, was Parliamentary Secretary to Premier Reece. Harris got things done that no other Minister or the government had in the previous twelve years. The appointment of a Minister for the Central Coast was a stunt foisted on us by Master Stuntman, Bob Carr, NSW Premier.

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As we go to press the O’Farrell Government continues to prevaricate over the redevelopment of the Gosford Waterfront. Three years ago next month we were progressing well with the concept of the redevelopment backed by a strong commitment from the previous government. However, with the election of the O’Farrell Government the wheels fell off almost immediately. Three years down the track and one has to say that this government has shown a total contempt towards our region. (Oh, they will quote all sorts of infrastructure projects that are now underway but most was already going to happen anyway – it had to!) Having realised that the Planning Minister wasn’t going to approve any redevelopment of the waterfront, the Central Coast Regional Development Corporation (who had carriage of the project) put in an application for the Gosford Primary School site to be declared a State Significant Site. This would at least provide some stimulus for investment in the Gosford CBD. That was in March 2013. Right now this application is languishing somewhere in the bowels of the Department of Planning. So, we could ask, “why hasn’t the Minister for the Central Coast gone in to bat for Gosford and our region?” Its a good question but you won’t get an answer from anyone in government, least of all the four Liberals we voted in to represent the region – and that includes the Minister.

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G e n e ral N e w s

Masters’ new West Gosford store opens Masters, Australia’s newest player in home improvement, opened the doors to its new store in West Gosford in early December aimed at the DIY, home improvement, and trades market. Mayor Lawrie McKinna of the City of Gosford and Chris Holstein, Member for Gosford, joined Masters management and store staff for an official ‘board cutting’ ceremony today to mark the opening of the store. The new store – the fifth for Masters in New South Wales – will employ 113 new jobs according to Store Manager Ken Spencer. The 13,500 square metre store is one of 37 Masters outlets across Australia, offering a range of more than 35,000 products at Australia’s best prices. “We’re thrilled to be open for business as well as creating 113 new jobs and a first step on an exciting and fulfilling career in retail for many people,” said Mr Spencer. “As well as an unparalleled variety of kitchen solutions, big brand whitegoods and appliances, Masters’ West Gosford store will house a huge choice of paint colours, finishes and effects. Each Masters store also boasts big brands in tools and hardware, a wide range of high quality, stylish and affordable outdoor furniture and a huge choice of sustainable products,” said Ken. An extensive drive-through trade area will cater to the needs of tradies, offering outstanding value, service and quality. Trade customers will find familiar brands as

Gosford Mayor, Clr Lawrie McKinna and Member for Gosford, Chris Holstein ‘cutting the log’ at the opening of Masters West Gosford store well as exclusive products from the world’s best trade suppliers. The opening of Masters, representing an investment of $14.8 million, completes the third stage of Riverside Park by the Gibbens Group. Commenting on the project CEO, Matthew Gibbens said, “The Riverside Park

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team are extremely happy to see the opening of the Master’s Home Improvement here in West Gosford. It’s many years in the making and is already one of the top trading stores in the country. The Gibbens group are committed to working with locals, council and the array of businesses interested in investing in the Central Coast”

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g e n e ral N e w s

Approvals galore as Gosford ups the ante Following on from the appointment of Gosford Council’s new Planning Director, Danielle Dickson, in November last year December has seen more development approvals and rezoning proposals coming out than ever before. In December 2013 alone, Council approved in excess of $65 million in Development Application’s (DA)’s and Section 96 Certificates. December 2013 also saw the number of DA’s lodged increase by 57 compared to December 2012. Among these was the Imperial Shopping Centre redevelopment DA, which was approved in just 26 days. The Imperial Centre redevelopment will join other significant projects progressing the Gosford Central Business District, including the Kibbleplex project, which will incorporate a new City Library, Innovation Hub and University of Newcastle presence. General Manager Paul Anderson said there is interest and movement on key sites around the Gosford CBD. “We are continuing to progress the redevelopment of other key sites in and around the Gosford CBD, including the old Union Hotel, the Spurbest site, Kibbleplex and the Imperial Shopping Centre. “We are in preliminary development discussions regarding the Union Hotel site in Gosford, with an estimated value of $130 million and the potential creation of 250 jobs,” he said. This doesn’t mean that nothing was happening earlier in the year as approvals that

had been bogged down for years saw the light of day. Early in 2014 Council approved a new store for Bunnings at West Gosford which resulted in an immediate start on construction by local building Pluim Constructions. This store will open for business in the next few months. A 101 unit residential development in Watts Street, Gosford in March will see construction start on the project in the next few months. Early December saw Council approve a 9-level, 89 unit residential development in Hargreaves Street, Gosford. Development of this site had been frustrated by Council for almost ten years. At its last meeting of the year Council also approved the demolishing of a motel in Kincumber and development of 24-unit residential project and car parking for the adjacent hotel; approved a new Child Care Centre at Wamberal. They also supported a rezoning of land in Somersby Falls Road and Ghilkes Road,

Somersby for industrial use; rezoning of land at Glenworth Valley to provide for an eco-resort; rezoning of over 56 hectares of rural land at East Somersby to allow rural residential subdivision (this land has been in limbo due to Council intransigence over the past 20 years) and rezoning of land at Forresters Beach to be rezoned partly for Low Density Residential. And this is just a synopsis of major projects. Taking the lead from Council’s Open for Business theme, Erina Leagues Club has been emboldened to lodge a planning proposal and DCP for their land at Erina. “Developers, investors and our community are now fully aware that Gosford City is open for business. We needed to let people know that there was a new way of doing things in Gosford City. Now that this message is clear, 2014 will be all about doing business - getting on with the job, getting things done and continuing to seize every opportunity to grow the potential of Gosford City,” Mr. Anderson added.

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M a n ufa c t uri n g N e w s

Halley & Mellows hosts CCMC’s final 2013 event Report by Frank Sammut, Executive Director, Central Coast Manufacturering Connect Central Coast Manufacturing Connect held its final event for 2013 on the 3rd December at Halley & Mellows Australiasia head office and manufacturing facility in Berkley Vale. The event was also promoted with Engineers Australia, Central Coast group. With the theme “Adapting to changing markets and global economy by knowing your strengths and weaknesses” around 60 people attended to take in a tour of the HMA site and hear Ken Baker, HMA Managing Director, speak about the company’s 30 years on the Central Coast. The HMA Group of Companies manufactures, sells and services a wide range of capital plant and equipment to a diverse range of industries. This includes mining, processing, materials handling, water management, power generation, and oil and gas. The company was formed in 1966 by two engineers Keith Halley and Mike Mellowes, based out of Willoughby and were originally importers of capital processing and materials handling equipment. In 1983 with the assistance of a State Government decentralisation grant they established a manufacturing facility at Berkeley Vale to manufacture some of the larger equipment that was originally imported, in joint venture businesses with two of its major overseas principals. “Co-incidentally Australia floated its dollar in 1983 at a starting rate of 1USD to

CCMC members hear Halley & Mellowes Group Managing Director, Ken Baker tell of the company’s history 0.9AUD, exactly the rate of today. As with other businesses our business has had to adapt to currency changes which has seen the dollar as low as US $0.49c and as high as US$1.12c . There is no doubt it is more difficult to sustain long periods of high or low currency” said Ken. By 1989 HMA had purchased the 50% interest in both its subsidiaries to start the commencement if its group of companies. The products of its subsidiaries, Diamond Power and Greenbank, were predominantly in light fabrication products, but its larger materials handling equipment were manufactured on an infrequent basis. As the company grew so did demand for some of its larger equipment and a decision was made to use preferred sub-contractors that were already set up and heavily

invested with the equipment to Ken Baker more efficiently manufacture these goods. Sub-contractors have been used in Mackay, Perth, Sydney and locally over the years. These decisions were important for HMA to be able to remain competitive and to adapt to their ever changing markets. “This left the Berkeley Vale site with the capacity to manufacture what it does best with the specialised equipment that is used to achieve an industry expected quality standard that is our own” Ken said. Some components in the local manufacturing process are imported and the company had changed from “western” supply to now some Asian supply, but did so under CONTINUED ON PAGE 28

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t o uri s m N e w s

2014 Central Coast Tourism Board Announced Central Coast Tourism has announced the election of Sandra Kerr as Chairperson replacing Bob Diaz who has led the Board for the past two years. “I am delighted to be working with Sandra who is an experienced industry professional” confirmed Chief Executive Officer, Robyne Abernethy. “I would also like to take the opportunity to thank out going Chairperson, Bob Diaz, for his contribution over the last two years.” In his report to members for 2012/13 former Chairman, Bob Diaz, said, “With the release of the Visitor Economy Taskforce report last year, Central Coast Tourism and other Regional Tourism Organisations were concerned over suggested changes to the regional funding program. We are grateful to the government for continuing to recognise the importance of tourism and confirming their ongoing support through the Regional Visitor Economy Fund. “ The Destination Management Plan for the next three years is currently in draft format and will provide strategic direction, visions and goals for the coast to move forward over the coming years. Unfortunately, at the time of writing we have not yet been successful in attracting ongoing funding for the Business Tourism and Events Managers role. Ms Kerr will lead a ten person Board comprising of representation from each membership category, two permanent positions, three skills based appointments and an observer as follows:

Front Row: Robyne Abernethy, Sandra Kerr, Libby Bain, Peter Evans, Cr Lynne Webster. Back Row: Barton Lawler, Craig Ellis, Bob Diaz, Daniel Payne Absent: Cr Lawrie McKinna Membership Representatives: Corporate/International/National • Barton Lawler, Proprietor, Glenworth Valley Outdoor Adventures • Daniel Payne, General Manager, Mercure Kooindah Waters Golf & Spa Resort Regional/Local • Bob Diaz, Proprietor, Pro Dive Central Coast • Peter Evans, Proprietor, Treetops Resort Avoca Beach (Vice Chairperson) Permanent Representatives:

• Lawrie McKinna, Mayor, Gosford City Council • Lynne Webster, Deputy Mayor, Wyong Shire Council Skill Based Positions: • Sandra Kerr (Chairperson) • Libby Bain, Marketing Manager, Australian Reptile Park • Craig Ellis, General Manager, Shelly Beach Golf Club (Treasurer) Observer: • Susan Davis, National Parks & Wildlife Services

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g e n e ral N e w s

Government opens gateway for $750 million planning proposal The NSW State Government has issued a Gateway Determination which paves the way for $750 million worth of development to proceed at Wadalba. Known as the East Wadalba Urban Land Release, the 241 hectare site has the potential to provide between 1,710 and 2,050 residential lots. It is currently owned by various landholders who have formed the Wadalba Landowners Lobby Group represented by consultant ADW Johnson. The Gateway Determination allows the plan to be placed on public exhibition and places an 18-month time frame on the plan to be finalised. A representative of the Wadalba Lobby Group told CCBR they were elated that after two years of detailed work on the proposal to rezone the area that the NSW Government had agreed with the Wyong Council that the area should be rezoned as Residential. The determination from the NSW Government is to the “Gateway” stage which means it is approved subject to the numerous reports required for rezoning including planning proposals  for roads and transport, water and sewerage, environment, flood and drainage studies, social impact statements and approx. 25 other reports. This will take approx. 15 months to complete  before the area can be officially rezoned.  The cost of these reports will be in the vicinity of approximately $800,000.  The Chairman of the Lobby Group , John Waddell, said, “Unfortunately the rezoning is subject to the land owners having to pay any costs associated with the rezoning. These costs are usually paid by the local Council and the associated planning is also usually carried out by Council, and here again, the Landowners have  to carry out the planning at their own costs.

Warnervale area aerial Mr Waddell said that the Group had continued support  from Wyong Council and the NSW Department of Planning and Infrastructure, both of whom are pressing to have the land rezoned as soon as possible.   Many of the Landowners have been  asking Council to rezone the area for over 30 years and are excited that at long last the can see some results.” Wyong Mayor, Clr Doug Eaton said, “This is fantastic news for the Shire. We are talking about three quarters of a billion dollars in investment, a variety of housing options for residents and hundreds of construction jobs lasting the best part of a decade. It is a development that ticks all the boxes and the land was already identified for future residential development in our Residential Development Strategy and Settlement Strategy.”  The site was identified on the State Government’s Potential Home Sites Program two years ago, in an attempt to fast track production and delivery of housing in recognised growth areas.

As part of the program, landowners are required to enter into an agreement to pay for the necessary infrastructure with State Government and Council. “Council and the proponent will liaise with the Department of Planning and Infrastructure to ensure appropriate infrastructure scoping, costing and funding is taken care of,” Mayor Eaton said. Council has already identified Johns Road, Pollock Avenue and Jensen Road as requiring upgrades to accommodate future traffic projections.  A wildlife corridor has also been proposed linking Wadalba Wildlife Corridor to the Tacoma/Tuggerawong wetland which will be incorporated into the proposal.  Development is proposed to be staged from Pollock Avenue with land released in stages from west to east.  “The ball is rolling and I’m confident we are going to end up with a very exciting development,” Mayor Eaton said. “One that has the potential to keep locals employed for years.”




br o adba n d N e w s

Central Coast broadband update The NBN roll out is still proceeding on the Central Coast despite all the political bruhaha. The investment is being reviewed at the moment, however the outcome of the reviews will be one of the region’s most important business and lifestyle determinants over the coming decades. There is a very real risk that a lack of understanding will see the region divided into two very separate service areas; one with a superior fibre optic connection and one without. There was a commitment by the incoming government to honour existing construction contracts that covered approximately a quarter of the Central Coast. The remaining areas were taken off the previously published 2 & 3 year rollout schedules, pending a series of legitimate reviews that were LNP policy. A great deal of confusion occurred after the NBNCo changed its maps in November. Many areas previously published as ‘Under Construction’ were taken off the maps and some locals in Point Clare, Kariong and The Entrance have reported workers leaving the areas they were previously working on. This is clearly a poor decision somewhere along the line and one that should be rectified. 1 Appeal to use Central Coast as a costbenefit research region. In November a spontaneous group of individuals and organisations formed to put a constructive submission to the government and the various reviews about the Central Coast. A clearly articulated constructive appeal was formulated. People and organisations were invited to support it and make submissions via a hastily built online submission form.


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A rushed series of public and private meetings were held to garner support for the Appeal. Gosford Council passed a motion of support at their last meeting of the year and a series of organisations; surf clubs, businesses, publications, retirees and employees supported the appeal. Indeed the largest crowd of 120 people was held at the Central Coast leagues club, coordinated by local firefighter Jeff Sundstrom and the CC Community Union Alliance. It was good to see this organisation support the appeal in parallel with local businesses. As a result of these various activities over a few weeks, 260 submissions supported the appeal and a very significantly 110 considered submissions were received. Some were very heartfelt, others rationally articulate, all were constructive and I think represented a broad community view point over such a brief period of time. The Appeal and the submissions were collated by myself and delivered to Minister Turnbull, Assisting Minister Fletcher, Local MPs, NSW Senators and the Senate Committee on NBN. No official response has been received by the various bodies as of mid January. 2 Gosford LGA Gosford being the first area to have fibre go live has been experiencing a rapid roll out and sign up of residential customers. JB HiFi at Erina and the Telstra Shop in Gosford have been doing an upbeat trade in signing residents up to the service. There are however real delays happening for businesses in the CBD with multiple offices. As it stands there appears to be a back log of businesses wanting to be connected but unable due to a lack of manpower.

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3 Wyong Shire - Berkley Vale switched on The first Fibre Service Access Module (FSAM) running past approximately 3,000 premises went live in mid January to very little fanfare. This represents a significant milestone for the Wyong Shire that has suffered very variable telecommunications conditions for decades. There are another 4 FSAMs currently under construction. Of note is the subtraction of The Entrance FSAM from the ‘under construction’ maps. This is a major blow for the fast developing area of The Entrance. As a future key business and services hub like this needs to be re-instated in the very least. Likewise Tuggerah business precinct. 4 Support is still required. I think it is more important than ever to continue pushing for the NBN roll out in the region. Our local MPs and Senators are a good place to start, councillors and state parliamentary members too. Finally, thank you to all that supported the Appeal (CCBR included), having pragmatically stuck with and advanced our collective regional cause. The digital economy and the digital society is really worth supporting. High quality telco infrastructure will make a huge difference to the profitability of businesses, the reduction of costs associated with service delivery for governments and importantly a renewed wave of optimism and innovation for young and old.


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R e t ail N e w s

$50 million expansion for Westfield Tuggerah A new Myer department store and 650seat Gmax Cinema will be the centrepiece of a $50 million expansion of the Westfield Tuggerah Shopping Centre. It is anticipated the extensions will be completed in 2016. The Hunter Central Coast Joint Regional Planning Panel (JRPP) approved Westfield’s application for the expansion in early December 2013. In total, the expansion will comprise more than 12,500m2 of additional retail floor space along with improved car parking layout and accessibility Additional parking will predominately be provided by the construction of new parking at ground level, a new Level Two

deck at the rear of the eastern end of the shopping centre along with a new roof top parking deck on the expanded retail mall at the eastern end of the centre. Mayor Doug Eaton said the approval by the JRPP, after Council had already endorsed the plans, was a huge win for the Coast. “Once again, this proves that billion dollar corporations such as Westfield have confidence in investing into Wyong Shire by expanding their existing shopping centre,” Mayor Eaton said. “This is great news for the Shire because, by our estimates, this expansion will equate to an additional $45 million worth of sales a year. “Obviously, this will have a tremendous flow-on effect to the local economy.

Government to fund Smart Work Hubs Deputy Premier, Minister for Trade and Investment, and Minister for Regional Infrastructure and Services The Hon Andrew Stoner, in mid December, announced a $1.5M initiative to fund the establishment of (teleworking) Smart Work Hubs for the Western Sydney and NSW Central Coast regions. This announcement has been welcomed by Regional Development Australia Central Coast CEO, John Mouland for including the Central Coast

“Not only will we see around 500 direct jobs created by this expansion during the construction and completion, the additional sales generated by the extension will create a flow-on effect and see more jobs created in the community at large. “In addition, Westfield is clearly catering for the population boom given the State Government expects upwards of 70,000 additional residents in the Shire over the next 25 years. “Overall, this is very exciting for all concerned and I congratulate Westfield on their vision. “I look forward to work starting, and the new shops and cinema opening in 2016,” he said.


in its priorities announcements for 2014 Industry Growth due to the potential positive impact to the Central Coast’s large commuter base. Mr Mouland said, “The NSW Government’s announcement stems from recommendations of the NSW Digital Economy Industry Action Plan: Implement telecommuting and telepresence hubs. These essential smart work hubs will reduce traffic congestion, CONTINUED ON PAGE 28

ADVERTISEMENT – CITROEN C4 AIRCROSS Central Coast Business Review apologises for an error in the price of the Citroen C4 Aircross on page 2 December 2013 edition. It should have read: $31,990^ drive away Not $24,990^ drive away.




bu s i n e s s bri e f s

Gosford Council appoints Economic Development Advisor

Dr Paul Collits Dr Paul Collits has been appointed Economic Development Advisor with Gosford Council. Dr Collits has worked in regional economic development for twenty years, in universities, state parliament, local and state government and in consulting. Prior to this he was an Associate Professor and Director of Research for the Economic Development and Enterprise Collaboration at the University of Southern Queensland’s Fraser Coast campus. This was a partnership among a number of regional stake-

holders and the University developed to undertake leading edge research in regional economics, policy and strategy. Before joining USQ in 2011 Dr Collits was a Senior Research Fellow in Regional Development at RMIT University’s Hamilton (Victoria) campus, having joined RMIT in 2007. For most of the previous 12 years he was a regional policy adviser to the New South Wales Government, working mostly in the Department of State and Regional Development. He has presented and written extensively on such topics as the role of government in regional development, small town decline and survival, community economic development, regional governance, economic development practice, the creative class and rural youth out-migration. Dr Collits role will be to provide economic and strategic planning advice and facilitate economic property development in Gosford City. Dr Collits succeeds John Tilston who held the same position from February 2007 to February 2013.

Well known Gosford Chartered Accountant, Max Perry, has acquired the practice formerly conducted by Grant Thornton Australia on the Central Coast. He will now practice as Max Perry and Associates providing business, taxation and superannuation services. Mr Perry has been in practice in Gosford for over 40 years and prior to his association with Grant Thornton was with BDO for thirty years.

Max Perry goes it alone

Elders Insurance has appointed Daniel Sammut their Authorised Representative for the Central Coast based out of their Fountain Plaza, Erina office. Mr Sammut’s career in the insurance industry spans seventeen years. He was formerly Business Relationship Manager with QBE Insurance responsible for property, property liability and motor vehicle underwriting for the past fourteen years.

Max Perry


Elders Insurance appoints local Representative

Daniel Sammut

bu s i n e s s bri e f s

RDA Central Coast appoints new CEO

Regional Development Australia Central Coast has announced the appointment of John Mouland as Chief Executive Officer. Mr Mouland has over twenty years senior management experience including most recently ten years at Gosford Council in the positions of Manager Customer Services and Communications, Manager Arts, Heritage and Culture and Executive Officer. Commenting on the appointment RDA Central Coast Acting Chairman, Phil Walker, said “on behalf of the Board, I would like to congratulate John on his appointment. We are looking forward to working with him to further enhance our regional strategies, the provision of a consolidated ‘voice’ for the region and developing an appropriate path for the prosperity of the Central Coast. “ “The appointment will see the continuation and enhancement of a number of key projects, initiatives and strategies, which will assist in developing a clear direction for the Central Coast as a region,” Mr Walker said. Mr Mouland takes over from Andrew Roach who was CEO of RDA Central Coast for the past five years.

Multinationals quit Coast In less than three months two multinational companies have announced that they will quit their operations on the Central Coast leaving hundreds of local staff out of work. In December Kellogg announced that they would close their Charmhaven snack products plant in favour of manufacturing in Thailand. Kellogg’s bought the former Sunny Bright company which was established at Charmhaven over twenty years ago, about five years ago. Meanwhile the announcement in late January that Carlton and United Breweries, owned by SABMiller, would close their Warnervale production plant by the end of 2014 has come as a shock to some sixtyfour local workers. The company gave no indication that the plant was uncompetitive. Just that it comes as a result of excessive capacity and duplication caused by the acquisition of Foster’s Group. To ensure that no other brewer can set up in competition the brewing equipment will moved to the company’s plant in Brisbane. Bluetongue beer which was produced at the Warnervale facility was established BUSINESSES ONLY by a QUALITY group of Newcastle businessmen and Includingsold caravan home villages, subsequently toparks/mobile John Singleton who manufacturing, industries. promotedmotels, it into a nationalservice brand name ACCOUNTANTS FIGURES ARE ESSENTIAL and subsequently sold it to a joint venture between Coca-Cola Amatil and SABMiller. ARGYLE ESTATES


Ph: 02 4332 6555 Fax: 02 4332 0095 We pride ourselves on selling quality businesses only and have done so for the past 35 years.

Coca-Cola Amatil and SABMiller are now competitors and the Central Coast has lost what was billed as a growing industry. The former deputy chairman of the Australian Competition and Consumer Commission, Alan Asher, has questioned the motives of SAB Miller in closing the Bluetongue Brewery arguing that closing the brewery was more about multinational firms trying to kill off local beer brands than a sensible business decision. He has suggested referring the closure to the ACCC. The news comes exactly a year after Canadian frozen food supplier McCain Foods acquired Kitchens of Sara Lee Australia for $82 million. Sara Lee’s production facility at Lisarow was established in the 60’s. Albany International, a global leader in the paper making industry closed its plant at Lisarow in 2010 moving most of it to China after establishing at Lisarow, also in the 60s. However, they did sell their filtration technology business and this continues to operate out of the Lisarow facility that it always occupied.

ses Wanted Quality Businesmobile home villages, parks, Including caravan ustries turing & service ind fac nu ma s, motel e. nc rie Over 35 years expe

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Local Business Banking Manager, Steve Deane, can help you with a suite of products and services that can be tailored to suit the needs of businesses. Drop into your nearest branch at East Gosford, Ettalong Beach, Kincumber, Lisarow, Wyong or phone 4337 1701. Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879. (S43786) (02/13)

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pr o p e r t y

commercial and industrial property for sale/lease


Cheap as chips for this excellent factory / warehouse just metres from Manns Rd. Freestanding building with additional yard & ideally located. 1039m2 (approx) consisting of 922m2 w/house + 1st floor offices of almost 120m2. LEASE $98,000pa + GST





235m2 with w/house, office fitout & reception / display area. Best industrial complex in the Kincumber precinct. Take your business to the next level. Ideal clean use only industrial opportunity. LEASE $38,500 pa net +GST

LARGE OFFICE + WAREHOUSING This Sumo Salad franchise provides instant income with a strong support system in the Central Coasts premier retail location. Current operating profits represent approximately 63% of the asking price.

West Gosford

For Sale


Quality industrial unit within a well cared for complex, new front fence with gate, approx 237m2 of floor space, high & wide roller door, mezzanine office & storage, hebel block internal walls. SALE $195,000 + GST LEASE $1,500 gross pa + GST


Quality 189m2 (approx) with mezzanine area & in secure complex. Includes concrete panel construction, high & wide roller door, commercial glass shop front entry, shower & toilet, kitchenette SALE $250,000 + GST


Ground floor approx 300m2 with freezer, cool room, preparation & storage area. Can be used as separate storage area or can be leased along with the administration offices & amenities directlty above. LEASE from $150/m2.


1286M2 building on level 1 acre; includes 881M2 modern air cond offices + 261M2 warehousing + archives stores; parking for 40 cars. Less than $100/M2 pa.


$440pw GST N/A

Prominent York St location; approx 83M2 ; over 41,000 vehicles pass daily.



Approx 952M2 (incl 180M2 office) + large concrete yard; has exposure to Barralong Rd $105,000pa net.



Commencing yield of 8.9% net , great office fitout + large warehouse. Quality tenant (DHL Austral ia) 2 high & wide roller doors, approx 490m2 warehouse, 360m2 office (total 855m2. 1x1x1 year lease but tenant plans to stay! SALE $790,000 NO GST


141M2 (almost food grade) $18,469M2 excl GST; 256M2 + yard $21,000pa GST N/A; 980M2 or 944M2 with 3 tonne crane $85,000pa net each.


Realistic owner has reduced price to $90m2. Situated on a corner, 2 street frontages, 4036m2 (approx) fenced with kerb & guttering. Adjacent block of land also available. SALE $ 363,240 + GST


205M2 $19,800pa excl GST; 490m2 $42,000 excl GST; 553M2 $51,000pa excl GST and outgoings.


A very busy location; approx 117M2 with air cond; $36,000pa net; suit retailer or business professional. Modern Strata titled 180sqm High clearance warehouse (approx) with 75.5sqm over three modern office (approx.) and 70sqm additional mezzanine area, 2 undercover parking, Air Conditioning, Fully self-contained, High roller door access.


For Lease

Spaces available from 59sqm to 247sqm. Air Conditioning, Ample Parking, Dominant Signage, Public Transport, Flexible lease terms and sizes available. Provide your business with the presence it deserves with approximately 30,000 vehicles passing daily & excellent signage opportunities on the Entrance Road, Erina



Recently renovated former CBA at cnr Mann & Donnison Sts; areas available 250M2 to 1200M2; significant fit-out contribution.


$26,000pa net

Ground floor consulting rooms; approx 90M2; partitioned & air cond + 2 car spaces. Prices shown with * are inclusive of GST.


Exciting development , highest quality office space for sale & lease. Massive frontage allowing for excellent exposure for all suites. Areas available from 100m2 to 2000m2 approx. SALE $2,650/m2 + GST LEASE $220/m2 + GST


4365 0645

Richard Ellis 0416 072 444 Suite 4, 206 The Entrance Road, Erina

Industrial block, right near M1 Motorway, has DA approval for a freestanding industrial building (approx 793.8m2 floor area) on a 1.97ha size industrial parcel. The owners want to move on from this opportunity & want it SOLD! SALE $1.05m + GST


BE QUICK FOR THIS ONE!!! If you require exposure then this location is second to none!. Located on the highway in a position that is bound to make your brand an icon. There is approx 280m2 with off street parking. LEASE $110/m2 + GST


Up to 407m2 adjoining areas from 49.5m2 . Hi-tech, environmentally conscious building with super-fast Internet speeds, communal function & training facilities, beautiful amenities & surplus parking in the complex. LEASE FROM $14,850 pa net + GST


Long standing tenancy on a 3+3+3 year lease that commenced 1st June 2013. Current rental is $48,654 pa + outgoings + GST. Ideal location surrounded by Medical Specialists. 3 suites, basement storage & on site parking. SALE $582,000 NO GST VISIT OUR WEBSITE FOR ADDITIONAL PROPERTIES and MORE INFORMATION –

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Ph 4382 1286 Mobile 0412 437 327 loc haradl walternative Architectural Door Hardware and Locksmith Specialists

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STATE OF THE ART OFFICE SPACE (GRADE A) Including Licensed Club, 3500m2 Medical GP Super Clinic, Pharmacy, Dental, 130 place Childcare Centre, 10,000m2 office (approx) Soccer 5’s, Aquatic Centre, Hotel/Motel (80 rooms) plus conference facilities and a gymnasium! When: Where: Time: RSVP: Phone: Email:

Tuesday, 25th February 2014 Suite 21/1 Reliance Drive, TUGGERAH 12.30pm Jessica Collins (02) 4353 7700

Come along and get an in depth understanding of the amazing opportunities within this ‘village style’ community


pr o p e r t y r e p o r t s

Trampoline company buys at West Gosford

Flip Out Australia which operates the Flip Out Trampoline Arena at Charmhaven has bought the Gosford Indoor Sports Centre at 7 Young Street, West Gosford on a 12 month delayed settlement for $1.9 million (GST not applicable) and have leased the property for 1 year at an annual rental of $156,000 plus Outgoings and GST. Graphics business leases at Erina

The area of the property is 1,500 sqm. Richard Ellis from Raine & Horne Commercial said that the owners had realised the potential of the Central Coast therefore have acted quickly to add a second property. The purchase includes plant and equipment.

TUGGERAH 154 Pacific Highway

SPECIALIST MEDICAL & PROFESSIONAL SUITES Ideally located on the Pacific Highway within the established Tuggerah Straight Commercial Centre, these Specialist Medical & Professional Suites are perfectly situated. Neighbours include Healthscope Medical Centre, PRP Radiology, Pathology, Sports & Spinal Physiotherapy, Chiropractor, Dentist, Psycologists & more. With a variety of suites available and plenty of parking, opportunities include both ground floor and level 1 suites. Tuggerah Medical & Professional Rooms range from 13m2 to 24m2 and start from as little as $1,250 per month +GST.

KDR Graphics has leased has leased Unit 2, 217 The Entrance Road, Erina. Terms of lease for the 315 sqm space is 3 years with a 3 year option at a rental of $50,000 per annum plus Outgoings and GST. Brad Rogers from LJH Commercial Central Coast negotiated the lease. North Wyong factory leased to truck repair business A new truck repair and service business has leased Unit 1B, 458 Pacific Highway, North Wyong for 1 year with a 2 year option at a rental of $45,000 per annum including Outgoings plus GST. Mark Davies from LJH Commercial Central Coast negotiated the lease.

Level 1 accessed via lift or stairs hosts suites from 59m2 with the East Wing Professional Suites ranging from 73m2 to 103m2 there is a size to suit a variety of Professionals including Medical, Financial, Legal etc... Other tenants include BCF, Super Cheap Auto and Romi’s Café and make this an ideal location with plenty of parking. Features include · Flexible lease terms · Very Competitive rentals · Excellent parking · Air-conditioning · Carpets, kitchenette · Balcony access for most suites For further details please contact

Julie Davies on 4355 5111




pr o p e r t y r e p o r t s

North Wyong factory sells at auction Online retailer leases West Gosford commercial premises

A warehouse property at 14 Pavitt Close, North Wyong has sold at auction under instructions from the mortgagor for $525,000 plus GST. The property which comprised a 676 sqm industrial warehouse building with large hardstand area on a 2,510 Berkeley Vale industrial lot sold A local concrete and landscape supplies company has purchased Lot 8 Corella Close, Berkeley Vale for $450,000 excluding GST. The level lot, with an area of 3,286 sqm is part of a larger filled but undeveloped subdivision on the corner of Enterprise Drive, Corella Close and Apprentice Drive. Mark Davies and Ty Blanch from

sqm block was last traded in 2006 for $750,000 (Source: RP Data). Listing agent and auctioneers was Raine & Horne Commercial who reported that with 11 registered bidders and spirited bidding the property sold under the hammer on the day to a private investor.

LJH Commercial Central Coast negotiated the sale. Local investor buys Tuggerah industrial unit A local investor has paid $172,000 for Unit 7, an industrial factory / warehouse of 161 sqm at 15-17 Ace Crescent, Tuggerah. Ty Blance negotiated the sale.

Online retailer, Lucy in the Sky.Com has leased the ground floor space at 32 Central Coast Highway, West Gosford for an undisclosed sum. The 930sqm space leased includes large foyer, secure basement parking, lift, disabled access, separate male and female internal bathrooms on both sides of the building, ducted air conditioning and light vehicle access from Pacific Highway via a high roller door. Lucy in the owner, Sasha Yatskanich said that the property was ideal for their purposes as they are expanding rapidly and need the courier vehicle access as well a large open space. The business had been operating in upstairs premises in Erina Street, Gosford. Karen Aubrey from LJH Commercial Central Coast negotiated the lease. The remaining upstairs level remains vacant.

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Stop being a Victim and Save money on Workers Compensation the new medical certificate, now called a workcover certificate of capacity is no longer the final word on a worker’s capacity. It’s simply one piece of evidence an agent/ insurer has at their disposal to determine work capacity.

By James Ellis, Managing Director, Framework Group “Stop being such a victim!” How often do you feel like blurting this out to an injured worker who isn’t recovering or resuming their normal duties at a rate you deem appropriate? Well, at the risk of alienating my audience, my message to employers is to look in the mirror and say the same thing. The workers compensation system is flawed. That said, my firm belief is that by increasing our collective knowledge of the system, we can significantly improve the delivery of health care to injured workers and save employers money. How so? 1. Understand the new legislation There are opportunities within the new legislation that are poorly understood.  The focus on “work capacity” is an important change that can yield real benefits and savings if properly understood. For example,

Government to shake up franchise sector The federal government will address the power imbalance between small business franchisees and their franchise masters, potentially allowing penalties of up to $50,000 for companies that break the industry’s code. Small business minister, Bruce Billson, told The Australian Financial Review the conduct of some big franchises towards their franchisees was a concern and the coalition would introduce some of the recommendations of the 2013 Wein review of the franchising code. “There are real pressures in the franchising sector where there’s a heavy dependence [between parties] and it’s not an adult-to-adult commercial relationship,” Billson told the AFR. Billsion added the Abbott government would take action early this year “to maintain world class regulatory support for a crucial part of the economy”. “Most people don’t realise that a small business has no more market power than an individual so we’ve made a commitment in that space to advance it in the coming year.”

2. Understand the doctor’s motivation Treating doctors want to “do the right thing”. In the absence of clear information from employers, in a language they understand, they will err on the side of “protecting” injured workers. We need to feed them that information as soon as possible post injury. 3. Facilitate a partnership with your workers comp agent/insurer Insurers are people too! They are time poor, process-oriented people, but they can help save you money if you form a respectful business relationship with them. 4. Get in early I can’t emphasise this enough. Injury management needs to start on day one with a professional triage. Don’t passively wait for the doctor’s opinion and don’t focus on the paperwork. Show your employee how much you care about them from day one by having a health professional with workers comp understanding make contact and set them on the right, and most costeffective, pathway.

5. Understand the sick role Our flawed system can actually make people think they are sicker than they are and thus prolong claims and increase costs. Classic examples that cause unnecessary disability include; • Unnecessary time off work...the evidence is is therapeutic • Medical jargon that promotes catastrophising and unnecessary anxiety • Questioning a worker’s integrity...even subtly...don’t raise those eyebrows...if your employee thinks they have to prove they’re unwell, it’ll take longer for them to get better • Treatment that goes beyond reasonable and necessary • Suitable duties that are of a token nature... workers that feel valued will recover quicker • Poor communication between workeremployer-insurer-doctor(s)-treaters. My message to employers is to take action. Learn what is driving the behaviours of the players in the system so you can be pro-active and have a positive influence on the result.   James Ellis is a physiotherapist and small business owner. He has nearly 20 years experience managing workers within the NSW workers compensation scheme and believes we can all do a better job of facilitating workers’ recovery from injury and saving employers money.

Action needed on local jobs following another manufacturing closure The Central Coast NSW Business Chamber had described the closure of CUB's Warnervale brewery as a worrying trend of job losses following similar announcements by Kellogg’s. "I am very concerned that we are facing a jobs exodus on the Central Coast," said Daniel Farmer, Central Coast NSW Business Chamber Regional Manager. "I see jobs leaving but I don't see them being replaced. That has to spark action from government about what is driving these businesses out of NSW and in some cases out of Australia altogether. "There are a variety of reasons why businesses relocate or close but a frequent theme that I hear from business

is that it's too costly to comply with regulation and it's too costly to employ Australians. "Australian businesses are expected to compete in a global economy yet don't have a competitive labor system to allow them to succeed. At the end of the day that deprives Australians, and especially young Australians of a job. "The over regulation of Australian workplaces doesn't hurt workers in Europe, Asia or America, it hurts Australian workers. "Government action is urgently required to deal with this pressing crisis and a serious conversation about the future of the Australian economy needs to be had to stop this growing exodus.”


S e lf M a n ag e d Sup e ra n n ua t i o n F u n d s F E A T U R E


SMSFs and property The popularity of self-managed super funds (SMSFs) has increased substantially over the past few years. In fact, SMSFs now account for about one third of total superannuation savings. One of their major drawcards is the broad level of investment freedom they offer. This includes the ability to invest in residential and business property, an option generally not available with other super arrangements. Potential tax benefits So why use an SMSF to invest in property? Well, depending on your circumstances, it can sometimes be more tax-effective to purchase a property through an SMSF than to buy it outside super. This is because rental income is taxed in super at a maximum rate of 15%. Once you retire and the fund is paying you a pension, rental income may be tax-free. When the property is eventually sold, capital gains are taxed at 10% (if the investment has been owned for 12 months or more) and are potentially tax-free if a pension has started. The table below compares the tax treatment of income and capital gains with other commonly used property ownership options. Tax payable on:

Property owned by: Individual


Super fund

Super pension

Rental income

Up to 45%¹


Up to 15%


Capital gains²

Up to 22.5%¹


Up to 10%


¹ Ignores the Medicare levy. ² Assumes the asset has been held for 12 months or more. Strategy tips There’s a lot to consider when investigating the property investment options with SMSFs. As well as making sure it’s the right option for you, there are different strategies and rules to consider, such as: • SMSFs can buy a business property from a fund member or a related party, such as a family member or related company or trust.


It’s also possible to transfer ownership of a business property into an SMSF by making what’s known as an ‘in specie contribution’. • SMSFs generally can’t purchase a residential property from a fund member or a related party. • Buying a property through your SMSF needs to be consistent with the fund’s investment strategy. • You can increase your SMSF’s property buying power by borrowing funds. SMSFs can only borrow to invest (using a ‘limited recourse borrowing arrangement’) in a ‘single acquirable asset’, such as a single title for land and the accompanying property, but not additional items such as furnishings. • It’s possible to have up to four members in an SMSF. By adding family members, such as adult children, you could increase the fund’s balance considerably and increase your capacity to buy property assets. Is an SMSF right for you? While running an SMSF can give you greater control of your super and retirement savings, it’s a big commitment. All members are generally required to be fund trustees and vice versa. As a result, you are responsible for meeting a range of legal and administrative obligations and penalties apply if you don’t perform your duties. Also, to make running an SMSF a cost effective exercise, you and your fellow members will typically need upwards of $250,000 in super. Advice and support Given the complexities involved, a financial planner is best set to help you navigate through the complexities of an SMSF and decide whether it’s right for you. Many planners also recommend using a comprehensive administration service that can take care of the auditing, accounting and administration needed to meet compliance obligations. To find out more about SMSFs and investing in property, speak to the Central Coast NAB Business team. This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. Before acquiring a financial continued on page 23


As we kick off the New Year and SMSF Audit Reporting deadlines loom, we would like to provide some information about new requirements and some reminders to assist with the preparation for the SMSF Audit. Outdated investment strategies The fund auditor is required to verify if the actual investment allocation is in line with the fund’s investment strategy. Where the strategy does not align with the actual investments, the auditor may be required to report this. It is therefore vital that you ensure the investment strategy is reviewed regularly and updated when required. Aspects that must be covered in the investment strategy are risk, diversification, liquidity, insurance and the fund’s ability to discharge liabilities.

continued from page 24 product a person should obtain a Product Disclosure Statement (PDS) relating to that product and consider the contents of the PDS before making a decision about whether to acquire the product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns. The material contained in this document is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Opinions constitute our judgement at the time of issue and are subject to change. Neither, the National Australia Bank (NAB) or any of the National Australia Group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document. From time to time members of the National Australia Group of companies, associated employees or agents may have an interest in or receive monetary or other benefits from the financial products and services mentioned in this document. NAB is associated with issuers of MLC Investments Ltd, MLC Ltd, WealthHub Securities Limited, Jana Investment Advisers Pty Ltd, PFS Nominees Pty Ltd, Aviva Australia Holdings Limited and National Australia Bank Ltd products and services. Our financial planners are Representatives of National Australia Bank Limited ABN 12 004 044 937 an Australian Financial Services Licensee Registered office Level 4 (UB4440), 800 Bourke Street, Docklands VIC 3008 and a member of the National Australia Group of companies.

• The investment strategy may need to be updated where clients: • add a new member • commence a pension • segregate assets • construct a reserve • acquire assets under limited recourse borrowing arrangements • acquire a property or illiquid assets. Consideration of insurance for members Another key consideration is the requirement that insurance needs to be considered as part of the investment strategy. The 2012/13 audit is the first year that this has been a requirement, so old investment strategy documents not updated since August 2012 may be queried by auditors. Confirmation of market value and ownership of unlisted investments New regulations require all SMSF assets to be valued at market value at 30 June 2013 and annually at 30 June in future years. This requirement extends to unlisted assets, which include: • real property • collectables and personal use assets • business assets • unlisted unit trusts • shares in unlisted companies. A detailed description of the required supporting documents for these assets should be obtained from your superannuation administrator. The SMSF financial statements and tax return cannot be completed without supporting documents to confirm both ownership and value of all assets. Trustees need to consider ongoing valuation requirements and ensure adequate supporting material can be provided. As a Registered SMSF Auditor I work closely with many SMSF Trustees, Accountants and Financial Planners on the Central Coast, this has provided me with a wealth of experience in advising on technically challenging SMSF issues. Harwood Chartered Accounts is a Central Coast based independent firm that offers specialised SMSF audit solutions including Financial Accounts preparation, Audit and troubleshooting to SMSF Trustees, Accountants and Financial Advisors.

smsf WE KNOW

It's hard enough keeping on top of running your finances, let alone ensuring that you comply with all the legal and regulatory requirements. Are you ready for a firm with the expertise to take care of all your SMSF needs? Then you're ready for Harwood Chartered Accountants – a refreshing approach to taking care of your SMSF.


S e lf M a n ag e d Sup e ra n n ua t i o n F u n d s F E A T U R E

Common issues raised during the SMSF audit process

Don’t get caught out on your SMSF obligations The last couple of years have seen a raft of changes and new obligations placed on self managed super fund (SMSF) owners, meaning trustees, and more are due to hit later this year. This can pose quite a challenge for trustees to stay on top of their responsibilities. One particular change that many SMSF owners are often not familiar with is the requirement to conduct a review of personal risk insurance needs on each member of their fund. Mitchell Thompson, a local financial adviser with ClearView, helped to shed some more light on the issue. “Life insurance is not something that many SMSF owners would naturally associate with their super fund, but the requirement to perform a review of personal risk insurance needs is now mandatory. While a personal risk insurance review may not necessarily result in the fund needing to purchase life insurance, the new regulations require a valid assessment be carried out”. The liabilities are real “Some SMSF owners are shocked when they learn of the liability they may have if one of their fund members is under-insured and they then suddenly die or become disabled. There is a potential for a member to take legal action against the fund if they feel that the fund has not fulfilled its responsibilities”. Non-compliance is also subject to substantial monetary penalties, so it pays to get the assessment done correctly, as Mitchell pointed out. “A professional risk insurance appraisal is simple to arrange and we find our clients are pleasantly surprised at how easy it can be. Whether fund members end up needing insurance cover or not, there is peace of mind of knowing that your obligations are properly fulfilled”. Uncovering hidden risks to business survival A professional review can also be extended to cover other major business risks, as Mitchell elaborated. “We come across situations where a business has a key employee who is critical to the success of the business, but the business owners have not realised the enormous liability they have if that person suddenly dies or becomes disabled. It’s a great relief to them when we show how such risks can be eliminated with highly cost-effective insurance solutions”.

“Another common issue we come across is when business partners have not considered the massive issues that arise if one partner dies or becomes incapacitated. We can design insurance strategies that give the remaining partner the financial power to buy out the other partners’ share and provide a smooth transfer of ownership. A little professional advice can be the difference between business prosperity and a complete disaster.” To get help on any of these issues, Mitchell can be contacted on 4325 4030.

Case study Let’s look at Toby’s situation. Toby runs his own building business and with his partner, owns a SMFS which holds 100% of his accumulated superannuation. Via his SMSF, Toby has borrowed $300,000 to purchase an investment property and he makes regular contributions into the SMSF to help meet the loan repayments. Toby currently has no insurance cover. In this situation, if Toby had an accident and was unable to work, with no income protection insurance, not only would his (and his family’s) financial position suffer, he would not have the money to contribute to his SMSF to make the loan repayments. As a result the SMSF may go into a negative cash flow position and assets may need to be sold off at the wrong time to repay debt.

Disclaimer: Before acting on such information you should consider its appropriateness having regard to your personal objectives, financial situation or needs. In particular you should seek financial advice and read the relevant product disclosure statement (PDS) before making a decision about a product. A copy of the relevant PDS can be obtained by contacting Mitchell Thompson on 4325 4030.

Is your SMSF at risk? Are you aware of the recent changes to your SMSF obligations? Do you know the new responsibilities SMSF trustees now have on insurance needs for fund members? How can you stay on top of the changes with a minimum of fuss? If you want the answers, then I’m here to help. Mitchell Thompson is your local ClearView Financial Planner. He knows what it takes to ensure your SMSF satisfies its insurance obligations and is focused on creating a better retirement for you. He is passionate about helping people create real financial independence with practical advice and personal attention. Call Mitchell now on 02 4325 4030 to arrange on appointment. Mitchell Thompson T 02 4325 4030 Platinum Building, Suite 3.31, 4 Ilya Avenue, Erina NSW 2250

Mitchell Thompson is an Authorised Representative (No. 328655) of ClearView Financial Advice Pty Limited ABN 89 133 593 012, AFS Licence No. 331367. The information in this advertisement does not take into account your personal objectives, financial situation or needs.


CVFP_0401 01/14

S e lf M a n ag e d Sup e ra n n ua t i o n F u n d s F E A T U R E



The popularity of self-managed super funds (SMSFs) continues to grow rapidly and this continues to be widely publicised. According to the Australian Taxation Office (ATO), most people who start selfmanaged funds say one of the main reasons they do so is to have more control over their super and greater flexibility over investments. SMSF trustees need to look past these initial benefits and consider whether they are utilising their SMSF to its full potential. Trustees should consider advanced SMSF strategies which build and protect wealth, establish an effective gearing strategies, and to preserve and pass on wealth to your family. There are a number of strategies in this area and unfortunately we don’t have the space to cover them all. Below are a sample of some of the strategies that SMSF trustees should be utilising. Establish and Manage Flexible Pensions Believe it or not but there are benefits to getting older and these include the ability to establish flexible pensions like account based and transition to retirement income streams. Whilst you can commence from age 55, the magic really starts to happen from age 60 as any pension amounts taken are not reported as taxable income. Trustees should consider: • Re-contribution strategies prior to the commencement of an income stream which could significantly reduce a potential “death tax’’ burden • The use of multiple pensions to make the most of your of your tax free components, provide flexibility with pension payments and the ability to direct various pensions to the most appropriate recipient for estate planning purposes The subject of SMSF pensions is definitely complex, however if structured correctly will not only provide you an extremely tax effective income stream in your retirement, but can provide a benefit to your family without the tax man getting his hands on it. Effective gearing strategies Gearing is historically a common wealth creation strategy. Rules introduced in September 2007 allowing super funds to borrow have proven to be a popular and effective way of increasing the investment capital available to a SMSF.

Martyn Kennedy and Tammy Barnden The key benefits of such a strategy include: • Leverage your superannuation savings • Tax concessions • Asset Protection There are, however, inevitable a range of rules to be followed in structuring an effective borrowing arrangement within a SMSF. Getting it wrong can be an expensive exercise and if not managed correctly often can result in double stamp duty costs or the SMSF needing to sell the property at a substantial loss. Avoid the common pitfalls and: • Do your research, understand the lenders criteria and consider the quality of the investment • Know your expected rental income and other cash flows to ensure serviceability of the loan now and into the future • Establish the correct structure (including bare trust) before you sign on the dotted line and get the documentation right • Consider your exit strategy Advanced SMSF strategies build and protect your wealth and provide you with the ability to pass your wealth to your family in the most effective manner. Obtain the right advice from a SMSF Specialist Advisor to ensure you are using your fund to its full potential.


S e lf M a n ag e d Sup e ra n n ua t i o n F u n d s F E A T U R E

Advanced SMSF Strategies – it’s more than just control and compliance

S e lf M a n ag e d Sup e ra n n ua t i o n F u n d s F E A T U R E


Do I really need a corporate trustee for my self managed superannuation fund? The ATO recently released that corporate trustee registrations represented only 9.57% of all new SMSF’s in 2013, meaning that over 90% of new SMSF’s trustees were individuals. This tells me either new trustees did not want to pay the extra cost for a corporate trustee or they did not seek advice prior to setting up their fund. Below are some of the vital reasons we believe it is always best practice to have a special purpose corporate trustee for your SMSF: 1. Continuous succession & estate planning flexibility A company has an indefinite lifespan (it cannot die), a corporate trustee can make control of SMSF more certain in the event of death or incapacity of member. In the situation of individual trustees i.e mum and dad, timely action, considerable administrative work and costs must be undertaken during a difficult time to ensure trustee/member rules are satisfied. 2. Administration efficiently Members of SMSF’s come and go for a variety of reasons such as death, incapacity or family break down. When members are admitted or cease membership of an SMSF with a corporate trustee, that person becomes or ceases to be a director of the corporate trustee. As there is no change to the trustees name, title to all the assets of the SMSF remains in the name of the corporate trustee. This is in stark contrast to when a new member is introduced to an SMSF with individual trustees. As all members must be trustees and all trust assets must be held in the name of the trustees, this will require the title of all assets to be transferred to the new trustees whenever a member is admitted to or exits the fund. You can imagine the paperwork, time and costs associated with the transfer of all shares, bank accounts and property etc to the new name. The cost of this activity would far outweigh the cost of setting up the correct corporate trustee structure in the first place.

3. Greater asset protection Companies are subject to limited liability, if a trustee is sued for damages a corporate trustee will provide greater protection. If an individual trustee suffers any liability their personal assets may be exposed. If your SMSF currently has individual trustees it may be an opportune time to revisit this arrangement. Morgans can provide you with professional SMSF advice to ensure your SMSF is compliant. Always seek professional advice prior to making any decisions regarding your Self Managed Superannuation Fund. DISCLAIMER - MORGANS FINANCIAL LIMITED This article was written by Morgans Financial Limited A.B.N. 46 010 669 726 AFSL 235410 A Participant of ASX Group. While it is based on information from sources which Morgans Financial Limited considers reliable, its accuracy and completeness cannot be guaranteed. Any opinions expressed reflect Morgans Financial Limited judgment at this date and are subject to change. Morgans Financial Limited has no obligation to provide revised assessments in the event of changed circumstances. Morgans Financial Limited, its directors and employees do not accept any liability for the results of any actions taken or not taken on the basis of information in this report, or for any negligent misstatements, errors or omissions. The information in this article is general advice and takes no consideration of any specific person’s investment objectives, financial situation or needs. Those acting upon such information without first consulting an investment advisor do so entirely at their own risk. It is recommended that any persons who wish to act upon this report consult with an investment advisor before doing so. This article does not constitute an offer or invitation to purchase any securities and should not be relied upon in connection with any contract or commitment whatsoever.

Stockbroking | Wealth Management | Managed Portfolio Service Fixed Interest | Financial Planning | Corporate Advice Self Managed Super Funds

1/6 Burns Crescent, Gosford NSW 2250 Email: Phone: 02 4325 0884 CENTRAL COAST BUSINESS REVIEW XXX 2014

bu s i n e s s t ip s

Consultation about changes to regular RT ADVICE rosters and ordinary hours of work MPLOYERS

ur arge can nage rce, trade reduce s comp

By Warwick Ryan, Partner, SWAAB Attorneys

A New Provision wick Ryan Roster flexibility can be key in ensuring business efficiency in the face of chang-

eys - Suites ing2/3 operational requirements, seasonal nce Road,fluctuations ERINA and the occasional unforeseen circumstances that a business may experience. Recent amendments to the Fair Work Act 2009 have now added an extra hurdle for small businesses when it comes to changing an employee's regular rostered hours or ordinary hours of work. The new provision, section 145A of the Fair Work Act 2009, applies to all Modern Awards in operation on or immediately before 1 January 2014. The section now requires employers to consult with their employees about any change to their regular roster or ordinary hours of work.

The section provides the employee with the following rights in relation to changes to their regular working hours: (1.a) consultation about a change to their regular roster or ordinary hours of work; and (1.b) representation, if desired for the purposes of that consultation. The section further provides obligations that an employer must: 1. provide information to the employees about the change; and (1.c) invite the employees to give their views about the impact of the change (including any impact in relation to their family or caring responsibilities); and (1.d) consider any views about the impact of the change that are given by the employees. Who must be consulted? All permanent employees and any casual employees who have a reasonable expectation of a regular and systematic pattern of working hours. What is consultation? The obligation in section 145A 'to consult with employees' was observed in a decision

of the the Fair Work Commission to mean more than one party telling the other what it is that he or she is going to do. Rather there is a requirement to provide information about the change and a genuine opportunity for the affected party to express views about the proposed change and have these views genuinely considered by the employer. While you should consider the views of your employee you do not have to agree with or act on them. Impact on employers Firstly, section 145A is not a source of power for an employer to change an employee's regular roster or ordinary hours of work. If change is to occur employers are to genuinely consult with the affected employee prior to that change being implemented allowing sufficient time for the affected employee to consider the proposed changes and raise any concerns. Secondly, the section is not requiring the employee to be represented. If the employee does however choose to be represented the employer must respect that choice and consult with both the employee and their representative about any proposed changes.

Selecting your professional advisor

By Darren Hutton, Regional Manager NSW Broking Division of Insurance House Darren Hutton, Regional Manager NSW Broking Division of Insurance House, recently read an article that listed the eight Key Performance Areas (KPA’s) for an AFL

Head Coach - Vision, Leadership, Technical Ability, Passion, High Performance, Communication, Talent Identification and Recruitment. I imagine the same criteria would apply to the Head Coach of any professional sporting organisation. The choice of a Head Coach is seen as critical to any sporting organisations performance in the arena or at the box office. As a business owner or operator, do you apply the same criteria or KPA’s to selecting your professional advisors? Is it more important to deal with your mate from next door or maybe just pick the cheapest on offer? It might be that sometimes these last two things are an added bonus on top of the relevant KPA’s,

but this would be rare in professional sport and equally rare in business. Take the time to understand what it is you need from your professional advisors, make relevant enquiries and be prepared to pay the right price. By the time you work out whether you have received and acted on the right advice it may well be too late. At Insurance House Central Coast we believe we meet the relevant criteria, but what really matters to us is what you think. As sporting coaches we make fantastic insurance brokers. Visit our website or TV site today to see some personal profiles of our Central Coast staff or call me on 1300305834.

Small Business urges Government to keep tax breaks to re-build tax receipts The Council of Small Business of Australia (COSBOA) is calling on Joe Hockey to keep tax breaks in place for Small Business to help keep the economy moving and rebuild tax receipts. COSBOA is pleased with the attention that Small Business has received in 2013 but this positive sentiment needs to be matched with action and policy.

Recently, the coalition said that it would repeal some of the former Labor Government’s tax concessions including the loss carry-back and instant tax write offs. Speaking at the National Press Club, the Treasurer announced that a deficit in June 2014 was expected to reach $47 million and said that unless the Government

took immediate action, Australia would be in debt for more than a decade. Peter Strong, Executive Director of COSBOA said: “We need the Government to keep the current tax breaks for Small Business in place. A saving in the budget from removing these measures will not continued on page 28




c o n t i n u e d ar t i c l e s

Halley & Mellows hosts CCMC’s final 2013 event CONTINUED FROM PAGE 9

very strict quality standards. “Any products manufactured in Asia are still detailed planned and quality inspected both in Asia and when the goods arrive in Berkeley Vale to ensure no compromise in quality” he went on to say. Challenges remain with HMA with continued growth in competition as world markets are now more accessible for two dollar start-ups, but also for end users. “Our input costs including electricity, more so recently, are still comparatively high in this country to that of our competitors. So we continually have to re-invent ourselves and offer a point of difference if we are to compete with low cost, improving quality competition.” Bernie Golja, one of the Directors at HMA Group spoke about the company’s employee ownership scheme and how this has strengthened engagement and ownership of all aspects of the business. He also provided an overview of their Ceramic, Basalt and Alumina pipe lining products. “This is where HMA are market leaders in product application, innovation and manufacturing quality and have never compromised these attributes to achieve their market share” Bernie stated. Bernie went on to talk about the importance of strategic supplier partnerships particularly with low cost producers of general engineering components such as pipe flanges, using HMA’s innovative

manufacturing techniques to add value. He also made the point that although the majority of the ceramic components are imported; on display were some large alumina ceramic products that were manufactured here at Berkeley Vale, reputably some of the largest single pieces known to be worldwide. We concluded the evening with an overview of CCMC’s activities through 2013 and what is instore for 2014. “In 2014 CCMC will continue its focus on Food manufacturing and processing as part of its commitment to the National Food Innovation precinct, working with the fifty odd local food manufacturers to find growth opportunities and to facilitate collaboration across their supply chain. We will continue to work on facilitating opportunities for collaboration across the Central Coast Manufacturing network generally. Our thanks to Ken Baker and Bernie Golja and the HMA staff for hosting the event, the CCMC board for their support, our key sponsors in Fortunity Training and Forsythes recruitment and thank everyone for attending and supporting CCMC through the year. The event concluded with Christmas drinks and networking. More information on Central Coast Manufacturing Connect can be found at the CCMC website; www.ccmconnect. including the 2014 event program.

Small Business urges Government to keep tax breaks to re-build tax receipts continued from page 27

impact the budget greatly and will affect the confidence of Small Business people, which will be counterproductive for the economy. “Small Business confidence lifted following the election but we need the government to maintain that confidence, deliver on promises and provide much needed support. “While the Government has clearly acknowledged the contribution and value of Small Business, the removal of much needed tax support sends a mixed message,” Mr Strong added. With the budget deficit now forecast, COSBOA urges the Government to develop a cohesive long term plan for the economy that includes Small Business people and supports their capacity to innovate and increase productivity. COSBOA will continue to work with the


Business Council of Australia (BCA) in 2014 following the release of their Action Plan for Enduring Prosperity, which has identified nine policy areas and 93 recommendations that aim to maintain strong economic growth, restore Australia’s competitiveness, lift productivity and support businesses. “The BCA Action Plan is a good start to a national plan for securing the future of our country. We also need the Government to articulate what they intend to do and how they will engage and assist business people in local communities to build strong microeconomies around the nation. “Our economy is not one homogenous entity consisting of only big business, but is made up of hundreds of small economies built around communities and industry sectors. If these micro-economies are healthy then the national economy will also prosper,” Mr Strong concluded.

Government to fund Smart Work Hubs CONTINUED FROM PAGE 13

improve productivity and provide opportunities to regional and rural workers to participate more equally in the Digital Economy.” “This funding announcement will allow pilot projects to be developed that will explore how modern management practices and innovative work cultures can help grow knowledge based industries, support flexible work practices and offer commuters an alternative work location closer to home”, Mr Mouland said. Regional Development Australia Central Coast will be working with Innov8 Central to coordinate a regional expression of interest for funding available as part of the initiative and will align the region’s response with the Central Coast Teleworking Strategy. Mr Mouland said, "The Central Coast Teleworking Strategy has been developed by a collaboration of leading regional stakeholders under the leadership of private industry and with the support of Regional Development Australia Central Coast”. One of the main objectives of the Strategy is to develop a regional network of Smart Work Hubs on the Central Coast that will provide co-working spaces for collaborative innovation projects across all sectors and different organisations, designed to reduce the wasted hours that local residents spend commuting out of the region and directly improve productivity and enhance work/life balance. The outcomes of the Expression of Interest are expected to be finalised by the end of March 2014. Gosford Council gets Smart Gosford Council is aiming to make Gosford a Smart City and as part of that initiative has introduced eForms technology to make council more accessible to customers. eForms, or SmartForms, have now been introduced across many of the council’s service areas allowing customers to communicate more efficiently and effectively online rather that submitting traditional paper forms. General Manager, Paul Anderson said, “we are working to communicate more effectively both internally and with our customers and the eForms system is just one way that we are doing this. For example, customers can use eForms to make a DA submission, lodge a free tree request, or just send council a general request, comment or enquiry.

E v e n t s Cal e n dar

Event holder




Central Coast Business Review

Cocktail Evening

Wednesday 19 February 2014

Central Coast Manufacturing Connect

Seminar - Know your funding opportunities

Thursday 20 February 2014

NSW Business Chamber/UON


Tuesday 25 March 2014

Central Coast Manufacturing Connect

Wyong Airport Forum

Tuesday 15 April 2014


Networking Meeting

Every Thursday from 7.30am Erina Leagues Club

East Gosford Chamber of Commerce

Members Meeting

Second Monday of the month

Erina Chamber of Commerce

Members Meeting

Third Wednesday of the month

Gosford District Chamber of Commerce

Members Meeting

Second Wednesday of the month

The Entrance & District Chamber of Commerce

Members Meeting

First Wednesday of the month

Northern Lakes Regional Business Chamber

Members Meeting

Second Tuesday of the month

The Peninsula Chamber of Commerce

Members Meeting

Second Monday of the month

Wyong Chamber of Commerce

Members Meeting

Fourth Tuesday every second month (except Dec/Jan)

Eating out on the Central Coast

Modern cuisine with healthy options, all cooking done on-site Catering for vegetarian & gluten free Specialising in corporate catering di MANFREDI coffee. Shop 1/9 Williams Court, Gosford – 4323 6669 Shop 2/12 Kurrawyba Ave, Terrigal – 4385 3627 Shop 7/1 Pioneer Ave, Tuggerah – 4351 0834

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Where business meets





Funny Business

Q. What did the digital clock say to the analog clock? A. Look, No hands! A biology teacher wished to demonstrate to his students the harmful effects of alcohol on living organisms. For his experiment, he showed them a beaker with pond water in which there was a thriving civilization of worms. When he added some alcohol into the beaker the worms doubled-up and died. “Now,” he said, “what do you learn from this?” An eager student gave his answer. “Well the answer is obvious,” he said “if you drink alcohol, you’ll never have worms.” It was the end of the school year, and a kindergarten teacher was receiving gifts from her pupils. The florist’s son handed her a gift. She shook it, held it overhead, and said, “I bet I know what it is. Flowers.” “That’s right!” the boy said, “But, how did you know?” “Oh, just a wild guess,” she said. The next pupil was the sweet shop owner’s daughter. The teacher held her gift overhead, shook it, and said, “I bet I can guess what it is. A box of sweets.” “That’s right, but how did you know?” asked the girl. “Oh, just a wild guess,” said the teacher. The next gift was from the son of the liquor storeowner. The teacher held he package overhead, but it was leaking. She touched a drop off the leakage with her finger and put it to her tongue. “Is it wine?” she asked. “No,” the boy replied, with some excitement. The teacher repeated the process, tasting a larger drop of the leakage. “Is it champagne?” she asked. “No,” the boy

replied, with more excitement. The teacher took one more big taste before declaring, “I give up, what is it?” With great glee, the boy replied, “It’s a puppy! SURPRISE!” A jet ran into some turbulent weather. To keep the passengers calm the flight attendants brought out the beverage carts. “I’d like a soda,” said a passenger in the first row. Moving along, the attendant asked the man behind her if he would like something. “Yes, I would,” he replied. “Give me whatever the pilot has been drinking!” Through the pitch-black night, the captain sees a light dead ahead on a collision course with his ship. He sends a signal: “Change your course 10 degree east.” The light signals back: “Change yours, 10 degrees west.”

Angry, the captain sends: “I’m a navy captain! Change your course, sir!” “I’m a seaman, second class,” comes the reply. “Change your course, sir.” Now the captain is furious. “I’m a battleship! I’m not changing course!” There is one last reply. “I’m a lighthouse. Your call.” Isn’t it strange how drivers who go slower than you are idiots, and those that go faster are maniacs?

Quote of the month I hire people brighter than me and then I get out of their way.

Lee Iacocca



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North Gosford, Brooks Ave 4328 2888 Wyong, 170 Pacific Highway 4353 1122


Drive Away


[A] Driveaway pricing is applicable for Private, Bronze and Silver fleet customers, & primary producers on selected 2013 plate models while stocks last. Toyota reserves the right to extend any offer. Excludes demos. Offer not available in conjunction with other registered fleet discounts or offers. Recommended driveaway price shown includes 12 months registration, 12 months compulsory third party insurance (CTP), a maximum dealer delivery charge and stamp duty. Metallic paint included for Camry only. All offers end 28th February 2014. DL8057 41450 CENTRAL COAST BUSINESS REVIEW Feb 2014


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Gosford 4323 2748 East Gosford 4325 7999

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S e c uri t y Phone: (02) 4322 1713


Allpoint Security is the trusted name for Fax: (02) 4322 1753 Mobile: 0418 110 696 T security on the Central Coast. POIN ALL OINT













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BRINGING TOGETHER OFFICE DESIGN & CONSTRUCTION Well-designed office space translates into higher creativity, better staff retention and increased productivity. Well-planned construction means lower costs, faster build time and a reduced risk of mistakes. More importantly, the synergy of managing both design and construction under a single point of accountability brings even more exceptional results. Evoke Projects can bring this synergy to your next fitout or refurbishment project. Our in-house architects and designers will tailor the layout for your business and provide 3D concepts so that you can visualise your new office interior. Our in-house team of engineers and builders will bring the design to fruition. You will have a single point of contact and accountability who will manage the project on time and within budget. To find out how your business can benefit from the synergy of design and construction, contact Evoke Projects today.

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Central Coast Business Review February 2014  

Monthly business news and information magazine for the Central Coast of NSW

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