Find Maroondah - February 2024 Edition

Maroondah The

FEBRUARY 2024

WHAT’S INSIDE: 06

COLUMNIST ARTICLES

19

TAX UPDATES

21

MAROONDAH COUNCIL NEWS

25

NOT-FOR-PROFIT OF THE MONTH

41

FIND SPORTS

SUPPORT LOCAL, BUY LOCAL, DISCOVER MAROONDAH

See full article on page 04

BEAUMONT ADVISORY

SBIB INSURANCE BROKER

mfelton@beaumontlawyers.com.au

sales@heightsafetyinsurancebrokers.com.au

www.thebeaumontgroup.com.au

heightsafetyinsurancebrokers.com.au

0411 951 372

0418 300 096

info@findaccountant.com.au | www.findaccountant.com.au

PL ATINUM SPONSOR

FEBRUARY APRIL SPONSOR SPONSOR

FEBRUARY SPONSOR APRIL SPONSOR

COLUMNIST CONTRIBUTORS FOUNDER | ACCOUNTANT

LIFE COACH | FACILITATOR

GENERAL INSURANCE

MORTGAGE BROKER

WARREN STRYBOSCH

LESLEY-ANNE BANTON

CRAIG ANDERSON

REECE DROSCHER

LACTATION CONSULTANT

OCCUPATIONAL HEALTH & SAFETY

FINANCIAL PLANNING

LEGAL

JOANNA STRYBOSCH

MARK FELTON

ERRYN LANGLEY

DEAN BOSMAN

DIGITAL MARKETING

BOOKKEEPING

LIFE COACH

BOOKKEEPING

?

?

ETHAN STRYBOSCH

JODIE MOORE

Are you our next Life Coach?

Are you our next Bookkeeper?

COPYWRITER / ACRREDITED EDITOR

NATURE & CONSERVATION

HEATHERDALE COMMUNITY ACTION GROUP

NATUROPATH

LIZ SANZARO

ELWYNNE KIFT

KATHRYN MESSENGER

?

Are you our next Copywriter?

CLUB SPONSORS

findmaroondah.com.au

FEBUARY 2024 | FIND MAROONDAH

3

About the Find Maroondah

By Warren Strybosch

The Find Maroondah is a community paper that aims to support all things Maroondah. We want to provide a place where all Not-For-Profits (NFP), schools, sporting groups and other like organisations can share their news in one place. For instance, submitting up-andcoming events in the Find Maroondah for Free.

We do not proclaim to be another newspaper and we will not be aiming to compete with other news outlets. You can obtain your news from other sources. We feel you get enough of this already. We will keep our news topics to a minimum and only provide what we feel is most relevant topics to you each month.

We invite local council and the current council members to participate by submitting information each month so as to keep us informed of any changes that may be of relevance to us, their local constituents.

We will also try and showcase different organisations throughout the year so you, the reader, can learn more about what is on offer in your local area.

To help support the paper, we invite local business owners to sponsor the paper and in return we will provide exclusive advertising and opportunities to submit articles about their businesses. As a community we encourage you to support these businesses/columnists.

Without their support, we would not be able to provide this community paper to you.

and rolling out over the coming years.

Our aim is to help as many NFP and other like organisations to raise much needed funds to help them to keep operating.

Our fundraising initiatives will never simply ask for money from you.

We will also aim to provide something of worth to you before you part with your hard-earned money. The first initiative is the Find Cards and Find Coupons – similar to the Entertainment Book but cheaper and more localised.

Any NFP and similar organisations e.g., schools, sporting clubs, can participate.

Follow us on facebook (https://www. facebook.com/findmaroondah) so you keep up to date with what we are doing.

We value your support, The Find Maroondah Team.

Lastly, we want to ask you, the local community, to support the fundraising initiatives that we will be developing

Maroondah The

EDITORIAL ENQUIRES: Warren Strybosch | 1300 88 38 30 editor@findmaroondah.com.au PUBLISHER: Issuu Pty Ltd POSTAL ADDRESS: 248 Wonga Road, Warranwood VIC 3134 ADVERTISING AND ACCOUNTS: editor@findmaroondah.com.au GENERAL ENQUIRIES: 1300 88 38 30 EMAIL SPORT: editor@findmaroondah.com.au WEBSITE: www.findmaroondah.com.au

OUR NEWSPAPER The Find Maroondah was established in 2019 and is owned by the Find Foundation, a Not-For-Profit organisation with a core focus of helping other Not-For-Profits, schools, clubs and other similar organisations in the local community - to bring everyone together in one place and to support each other. We provide the above organisations FREE advertising in the community paper to promote themselves as well as to make the community more aware of the services these organisations can offer. The Find Maroondah has a strong editorial focus and is supported via local grants and financed predominantly by local business owners.

ALL THINGS MAROONDAH The City of Maroondah is a local government area in Victoria, Australia in the eastern suburbs of Melbourne.

Maroondah had a population of approximately 118,000 as at the 2019 Report which includes 9000 business and close to 46,000 households. The City of Maroondah was created through the amalgation the former Cities of Ringwood and Croydon in December 1994.

ACKNOWLEDGEMENT The Find Maroondah acknowledge the Traditional Owners of the lands where Maroondah now stands, the Wurundjeri people of the Kulin nation, and pays repect to their Elders - past, present and emerging - and acknowledges the important role Aboriginal and Torres Strait Islander people continue to play within our community.

ADVERTISING RATES (INCLUDE GST) Available Sizes:

Rates:

• Double Page Spread (408 x 276mm)

$1650

• Full Page (198 x 276mm)

$1100

• Half Page Landscape (198 x 138mm)

$715

• Half Page Portrait (95 x 276mm)

$715

• Third Page (189 x 90mm)

$550

• Quarter Page (97 x 137mm)

$440

• Business Card Size (93 x 65mm)

$275

• Ads Smaller than (85 x 55mm) and Below

$121

• Design Services We can create your ad for you. Prices start at $77 for the very first hour and $22 for each hour thereafter.

DISCLAIMER

NEXT ISSUE

Readers are advised that the Find Maroondah accepts no responsibility for financial, health or other claims published in advertising or in articles written in this newspaper. All comments are of a general nature and do not take into account your personal financial situation, health and/or wellbeing. We recommend you seek professional advice before acting on anything written herein.

Next Issue of the Find Maroondah will be published on Friday January 16, 2024. Advertising and Editorial copy closes Friday December 22, 2023.

FEBRUARY 2024 | FIND MAROONDAH

3

4

FIND MAROONDAH |FEBRUARY 2024

By Mary Barnes

As the sun rises on a new academic year, the hallways echo with the laughter and excitement of school children returning to their second home - the classroom.

After a well-deserved break, students are eagerly lacing up their shoes,slinging backpacks over their shoulders, and embarking on a journey of learning, growth, and camaraderie.

findmaroondah.com.au

Children going back to school

The anticipation in the air is palpable as parents, teachers, and students alike look forward to the resumption of routine, structure, and the pursuit of knowledge.

The classroom, once again, becomes a bustling hub of curiosity, discovery, and friendship.

For many children, the return to school represents more than just a continuation of academics. It’s a reunion with friends, a chance to share summer stories, and an opportunity to forge new bonds. The sheer joy of seeing familiar faces and making new friends creates a vibrant and dynamic atmosphere within the school walls.

Teachers, the unsung heroes of education, are ready with open arms and lesson plans that will inspire, challenge, and nurture the young minds entrusted to their care. The excitement of imparting knowledge and witnessing the spark of understanding in a student’s eyes is what fuels their passion for teaching.

As the first bell rings, signaling the beginning of a new chapter, students settle into their desks, each one a

blank canvas waiting to be filled with knowledge, creativity, and skills. The sound of pencils scratching against paper, the hum of discussions, and the occasional burst of laughter create a harmonious symphony that signifies the return to the rhythm of academic life.

The return to school is not just about academics; it’s a holistic experience that includes sports, arts, and extracurricular activities. The playing fields resound with the cheers of sports enthusiasts, while the art rooms come alive with the vibrant colours of creativity. From science labs to music studios, each corner of the school is a canvas for students to explore and express themselves. While the journey ahead may have its challenges, the

resilience and enthusiasm of school children are a testament to their eagerness to learn and grow. The coming months will witness not just academic achievements but also personal milestones, character development, and a sense of belonging that extends beyond the classroom walls.

So as we witness the return of school children to their educational haven, let’s celebrate the magic of learning, the joy of friendships,and the boundless possibilities that a new school year brings.

May this academic journey be filled with discovery, laughter, and the promise of a brighter future for these eager minds stepping back into the hallowed halls of education.

Financial Planning is offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth. Find Wealth is a Corporate Authorised Representative (no. 468091) of Alliance Wealth Pty Ltd ABN 93 161 647 007 (AFSL No. 449221). Part of the Centrepoint Alliance group www.centrepointalliance.com.au | Warren Strybosch is Authorised representative (No. 236815) of Alliance Wealth Py Ltd. This information has been provided as a general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriates of the advice. You should obtain and consider the relevant Product Disclosure Statment (PDS) anf seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mention in this communication.

Whilst all care has been taken in the preparatin of this material, it is based on our understanding of current regulatory requirements and laws at the publication date. As these laws are subject to change you should talk to an authorised adviser for the most up-to-date information. No warranty is given in respect of the information provided and accordingly neither Alliance Wealth nor its related entities, employees or representative accepts responsibility for any loss suffered by any person arising from reliance on this information.

findmaroondah.com.au

FEBUARY 2024 | FIND MAROONDAH

5

From 1 July 2024 Resident individuals

Stage 3: Tax Cuts and how to affect you - but not what we were promised

By Warren Strybosch

Higher income earners have been passed over again and the government is stating that the backflip on the promised tax cuts is not politically motivated. This means that those earning $200,000 or more will receive a $4,529 cut, instead of the legislated $9,075 they were due to receive from 1 July.

Only those earning less than $150,000 will benefit from the impending tax cuts as follows: • Reduce the 19% tax rate to 16% (for incomes between $18,200 and $45,000).

• Reduce the 32.5% tax rate to 30% (for incomes between $45,000 and the new $135,000 threshold).

• Increase the threshold at which the 37% tax rate applies from $120,000 to $135,000.

• Increase the threshold at which the 45% tax rate applies from $180,000 to $190,000.

Therefore, following these announcements and assuming amending legislation is passed, the Australian resident personal income tax rates from 1 July 2024 will be:

Up to $18,200

Nil

$18,201 to $45,000

16% on part over $18,200

$45,001 to $135,000

$4,288 + 30% on part over $45,000

$135,001 to $190,000

$31,288 + 37% on part over $135,000

$190,001 and over

$51,638 + 45% on part over $190,000

It is good news for those earning less than $45,000 per year, as their rate of tax will fall to 16% compared to the current 19%.

The winners are middle income earners. The PM is trying to place a positive spin on it all and argue it is the middleincome earners who are the backbone of the economy and therefore they deserve the biggest tax cuts.

"This is a plan for middle Australia that delivers for every Australian taxpayer, right up and down the income ladder,” the PM said.

The mantra of years past where Labor was all about supporting the Aussie battler is clearly out the window. It seems Labor is seeking wins with the middle class and more educated Australians.

It will be interesting to see how this plays out for Labor when we next go to the ballots and what this will do to current interest rates. A tax cut is likely to increase inflation and could push up interest rates which in turn might negate the benefit of any tax cuts that were created.

Time will tell.

FEBRUARY 2024 | FIND MAROONDAH

5

6

FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au

START THE YEAR WITH A REVIEW OF YOUR HEALTH AND SAFETY PROTOCOLS OCCUPATIONAL HEALTH & SAFETY

By Mark Felton

As a business owner and employer, it is your responsibility to ensure the health and safety of your employees within your workplace. This includes providing your team with a safe work environment and protection from hazards. You can achieve this by understanding your obligations under the Occupational Health and Safety (OHS) laws and by complying with them.

The beginning of a new year is an ideal opportunity to review and update your safety protocols. Here are some key areas to focus on: Develop or Update Your Safety Plan A robust safety plan is the foundation of a healthy and safe workplace. You need to ensure that it’s clear, concise, and easily accessible to all employees. Regular mock drills are useful in familiarising your team with emergency procedures, as well enhancing their ability to respond effectively in real situations.

Prioritise Employee Training Knowledge is power, especially regarding health and safety. Regularly train your team on your health and safety protocols, including the use of on-site safety equipment such as fire extinguishers or first-aid kits. Keeping everyone up-to-date on the latest safety procedures is critical.

Invest in Adequate Safety Equipment Carefully review your inventory of safety tools and equipment. From fire extinguishers and first-aid kits, to personal protective equipment (PPE) including gloves or face masks, and safe work procedures like SWMS or SOPs, ensure you’re well-equipped to handle any potential hazards unique to your workplace.

Many businesses may have a reasonable handle on this, but the best systems in the world can be undone if the key elements are not effectively documented. How do you adequately substantiate that you have effective systems in place and that they are working? How can you measure and improve? How do you defend yourself

when an employee has hurt themselves because of behaviours that are outside those that you have implemented? How can you see the competencies of employees? How can you determine when upgrades and additional training are required?

As a business owner, are you confident that you do not have shortfalls in your efforts to keep your workers healthy and safe? Do you have an understanding of your responsibility to ensure the safety of your employees? Are you confident that you can provide a safe work environment and comply with OHS laws?

Do you believe that you are effective in carrying out risk assessments, employee consultation and providing training? Do you regularly review these measures to ensure that they remain fit for purpose and keep you and your employees healthy and safe? Why not make a New Year’s resolution to get your house in order?

At Beaumont Advisory we assist business owners clarify what they currently have in place, as well as where there are shortfalls. We then assist in developing effective systems and documentation, working with businesses to ensure effective implementation. Checks are put in place to monitor ongoing effectiveness, to ensure that going forward, they are sound and comply with the Act, and most importantly keep you and your employees informed, and healthy and safe.

Please feel free to contact me, Mark Felton, at Beaumont Advisory on 0411 951 372 or mfelton@ beaumontlawyers.com.au for an obligation and cost-free initial discussion.

Mark Felton Occupational Health & Safety www.thebeaumontgroup.com.au

findmaroondah.com.au

FEBUARY 2024 | FIND MAROONDAH

A curiosity check?

7

This wave is called a Rosby Wave.

NATURE & CONSERVATION

By Liz Sanzaro

Have you ever stopped to think inquisitively about why dangerous gas emissions are called greenhouse gasses? What is it about a greenhouse that has prompted us to use its name for climate change? A google search will show that for greenhouse cultivation, the conditions should be On top of this the dams which have Relative humidity level around 80% and been designed to act like a water bank, Temperature range of between 18ºC to and hold water for us to get a reliable 24ºC night and day. continual source no matter what the weather brings, can now be a source of This is quite a bit like our cool wet spring greater flooding if not managed. With and now our wet summer, with high increased precipitation dams become humidity. over full, and need to release water, with sometimes disastrous results.

Global warming is a term disputed by nay sayers, because not all of the earth is warming, which is quite true and which is why the current term is now Climate Change. The largest component of the Earth is covered in oceans, a staggering 71% and it is not warming evenly. In some parts it can be up to 6 deg warmer, while in other parts not so much. In general however the trend is definitely upwards.

Trouble happens when the movement of the air is slowed down by increased oceanic heat. The wave is slowed down making the dips and troughs more significant; pulling low pressure systems closer to the equator, which can then become cyclones. While also pushing warm air up/down to the poles making the ice melt faster.

It is a very complex system, and will not respond quickly to any changes the Earths inhabitants make in an attempt to reverse the damage done. Collectively the world is acting, but there are still people who are doing the ostrich thing and burying their head.

This image is accurate, from United Nations statistic

Warragamba dam in Queensland causing a dilemma.

It is a well-known scientific fact that warmer air holds a greater amount of water vapour. So as the oceans warm, water evaporates and then falls back to earth as increased intensity of rain, hail or snow all of which can cause flooding events. The more that goes up from our huge oceans, the more there is to fall back to Earth.

Another effect of warmer air is that water evaporates from other areas, that may not have had rain for a period of time, this causes drought. This is happening in parts of he world right now.

The more you avoid the truth, The more difficult you make it for all involved.............

Next Question….. Do you know what the Rosby wave is?

Also similar to the Jet stream, this wavy line attempts to balance the atmosphere by taking warm air back to the Poles and pulling cold air down towards the equator.

Liz Sanzaro

President of Croydon Conservation Society liz@sanzaro.com | www.croydonconservation.org.au

FEBRUARY 2024 | FIND MAROONDAH

7

8

FIND MAROONDAH |FEBRUARY 2024

GENERAL INSURANCE

By Craig Anderson

The following vitally important information for Strata residents, committee members and strata managers involved in properties where EV’s (Electric Vehicles) will be charged and stored, is reproduced verbatim with the permission of CHU, who are a market leading Strata Property Underwriter in Australia.

“The move away from petrol power towards electric vehicles (EV) is accelerating in what can only be positive in terms of our communities trying to reduce their carbon footprint and move towards environmentally sustainable living.

CHU has put together this fact sheet to best inform strata residents on what key factors need to be considered as the move towards EV charging stations within buildings continues.

Existing electrical switchboards/ cabling within buildings • Will the existing switchboard safely accommodate the increased load resulting from EV chargers?

• Will consumer mains/submains be able to handle the increased load and current?

• Is the main switchboard or other switchboards in good working order? Note that depending on age and condition, switchboards may need to be replaced to AS 614392016 in order to accommodate EV charging stations.+ Installation and maintenance to be done by suitably qualified professionals • You can see from the considerations above, the need to have suitably qualified tradespeople for installation of any EV charging stations is essential. Installation of not only the charging unit but also associated wiring needs to be as per manufacturer’s instructions and in accordance with all relevant building standards is essential.

Information sourced from external surveying and risk engineers+ has highlighted some additional considerations, including (but not limited to): •

EV chargers are required to be installed in accordance with Australia Standards (AS 30002018 and Appendix P - Guidance for installation and location of electrical vehicle sockets outlets and charging stations, has been

findmaroondah.com.au

ELECTRIC VEHICLES AND CHARGING STATIONS – CONSIDERATIONS FOR BODIES CORPORATE •

•

referenced by some third parties however, please check requirements with a suitably qualified installer).

Each EV charger is required to have a Residual Current Circuit Breaker (RCBO) installed (some third parties have referenced an electrical current not exceeding 30mA to ensure personnel protection however, again please check with a suitably qualified installer).

Depending upon the supply to an individual strata unit, an EV charger in some instances can consume up to 50% of the available power for that whole apartment, limiting power for other appliances. + The above is not intended to be advice (personal, general, or otherwise) for any third party to rely on, nor can CHU guarantee the accuracy of content. Property owners need to make their own enquiries in terms of compliance, maintenance of EV charging stations with suitably qualified contractors.

Cost and maintenance considerations • Who is responsible for the electrical charges associated with charging vehicles?

• Body Corporate should clearly define to lot owners who is responsible for maintaining the charging stations on a periodical basis, with the view to monitoring equipment or cable damage, or any operational faults on the charging station itself Proactive risk management measures • Charging cables and any other associated equipment to be stored appropriately when not in use so as to not present a liability exposure (e.g. trips, slips and falls).

• Areas surrounding any EV charging stations to be kept clear of any storage, particularly items of a combustible nature.

• Ensure periodical maintenance of charging stations, associated wiring on an ongoing basis.

• Ensure appropriate fire protection measures are installed in appropriate areas that can be easily accessed in the event of a fire from an EV charging station.

CHU Underwriting Agencies Pty Ltd (ABN

18 001 580 070, AFS Licence No: 243261) acts under a binding authority as agent of the insurer QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFS Licence No: 239545). Any advice on this flyer is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Before making a decision to acquire any product(s) or to continue to hold any product we recommend that you consider whether it is appropriate for your circumstances and read the relevant Product Disclosure Statement (‘PDS’), Financial Services Guide (‘FSG’), and the Target Market Determination (‘TMD’) which can be viewed on the CHU website or obtained by contacting CHU directly.”

For a health check of your Strata insurance, contact Small Business Insurance Brokers via email sales@ smallbusinessinsurancebrokers.com.au Any advice in this article has been prepared without taking into account your objectives, financial situation or needs. Because of that, before acting on the above advice, you should consider its appropriateness (having regard to your objectives, needs and financial situation).

Craig Anderson GENERAL INSURANCE Small Business Insurance Brokers www. heightsafetyinsurancebrokers.com.au

0418 300 096

findmaroondah.com.au

FEBUARY 2024 | FIND MAROONDAH

9

Beat the

Sugar

Cravings NATUROPATH

By Kathryn Messenger

Maybe it’s too many parties over Christmas and New Year, or maybe you’ve been struggling with this for a while. One thing for sure is that sugar is addictive, and it can be really hard to say no.

Sugar addiction Have you ever noticed the difference between your cravings for sugar compared to naturally sweet products?

The sugar craving seems to be unsatiable, whilst with honey or dried fruit, you get to a point where you just don’t enjoy it anymore and so you stop eating it. This is because sugar has been stripped of the vitamins and minerals found in natural sugar cane which means you not only miss out on those nutrients, but you also miss out on the natural mechanism that helps you to say “no”.

The empty carbohydrate Carbohydrates are a great form of energy and particularly important for children as they grow, or for those that are active. But not all carbohydrates are equal. Fruit and vegetables also contain high amounts of energy, but have the added benefits of vitamins, minerals, and fibre. Since unused carbohydrates are stored as body fat, there is little to gain by using sugar as an energy source, and there are so many other negative effects of sugar on your health.

Is your gut bacteria working against you?

Along with fruit and vegetables, wholegrains and legumes are also energy sources that contain minerals and fibre. These foods give both the energy you need to function as well as the added benefits of these nutrients. What’s interesting is that the fibre here acts as a fuel for the beneficial bacteria in your gut, keeping you healthy; but the harmful bacteria actually feeds on sugar and works to increase your sugar cravings.

Going cold turkey What’s interesting is that once you cut out sugar from your diet, it’s no longer appealing. Your taste buds get used to enjoying naturally sweet foods and sugar just doesn’t taste nice anymore. But getting to that point is where the difficulty lies. If you decide to go ‘cold turkey’, you will likely have around 3 days where your cravings ramp up and your self-control is genuinely tested. If you prefer to take your time and slowly reduce your sugar intake, it will be an easier ride, but it will take longer. Neither way is right or wrong, choose what will work best for you.

Extra support If you find the temptations all too hard and need some extra support, I have

recently put together a list of 15 Ways to Beat Sugar Cravings, and you can download it on my website.

Kathryn Messenger BHSc (Naturopathy) kathryn@wholenaturopathy.com.au Suite 1 53/1880 Ferntree Gully Rd Mountain Gate Shopping Centre Ferntree Gully, Victoria

This advice is general in nature and not intended to be prescriptive. For individualised prescriptive advice, please see a naturopath or other health care practitioner.

FEBRUARY 2024 | FIND MAROONDAH

9

10 FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au

WHY NOW IS A GREAT TIME TO REVIEW YOUR HOME LOAN MORTGAGE BROKERING

By Reece Droscher

There are a number of reasons why reviewing your Home Loan regularly can be a big money saver. With rates going from historic lows to their current levels, around 6.5% on average, there has been a lot of recent discussion about what the future looks like for Home Loan rates.

Some borrowers, who were lucky enough to fix their rate in at historic lows, are now needing to plan for a much higher repayment once their fixed rate expires.

So what can borrowers do to try and minimise the risk of paying more interest on your loan and get the best deal that suits their individual needs?

1. Review, review, review!

It has never been more important to review your Home Loan. When you have been with a lender for a few years you can sometimes see that there are different rates on offer to new customers, compared to what you may be paying as an existing borrower. Often lenders will offer lower interest rates to new customers to attract new business, so you can take advantage of this through a regular review. Unless there is a deal in the market which is too good not to share with my client base, I tend to review my client’s loans every 2-3 years.

It is also important to review the type of Home Loan you have and whether you are paying for features that you are not getting the full benefit from. For example loans with 100% offset accounts

may come with a higher interest rate than those loans without the 100% offset feature. Your requirements from when you first took out your Home Loan may also have changed, and there may be features available that you are not aware of that may help you to pay off your home sooner.

impacting on your budget already hit by costs of living increases. By using some of the equity you have built up in your home you could borrow extra funds at a Home Loan rate to repay those more expensive forms of finance, reducing the total amount you are paying each month to improve your cash flow.

2.

2. Reduce fees.

You may be paying a monthly or annual fee on your loan for features that you are not using. By reviewing your loan you may be able to reduce your ongoing costs, putting more money into your pocket rather than the Banks.

Approach your current lender for a cheaper rate.

As well as getting a Mortgage Broker to review your Home Loan, making a phone call to your current lender (or preferably your Mortgage Broker who can do this on your behalf), requesting a cheaper rate may see them quickly offering an immediate rate discount to try and retain your business. It costs a lender more money to bring in new business than it does to retain the business it already has, so it makes economic sense for your current lender to want to retain your business by offering an incentive to stay.

Some lenders have now set up dedicated business retention teams with the sole responsibility of preventing loss of Home Loan business, and leveraging offers from other lenders to get your current lender to match interest rates, or even better them, has seen some borrowers achieving a 1% discount on their Home Loan overnight.

3. Access equity to consolidate debts.

Since you have taken out a Home Loan you may have seen the value of your property increase. In these difficult times you may also have needed to take on some other lending, such as credit cards and personal loans, which may be

Engaging a Mortgage Broker to assist you in reviewing your Home Loan would be the first step in making sure you are getting the best deal. As a Mortgage Broker I am perfectly placed to assist my new and existing clients with a review of their Home Loan and help them improve their financial situation. Even in the current climate I have assisted clients to obtain significant discounts on their current interest rate, saving them thousands in additional interest costs, or have refinanced them into much more suitable Home Loans to meet their changing requirements. I would love the opportunity to help you too.

Please call Reece Droscher on 0478 021 757 to book in a review and discuss your options. reece@shlfinance.com.au www.shlfinance.com.au

findmaroondah.com.au

FEBUARY 2024 | FIND MAROONDAH 11

Strathdon House and

Orchard Precinct's School Holiday Program

By Elwyne Kift

There’s some wonderful programs here at Strathdon House and also a history worth knowing.

Creative Whitehorse Strathdon House and Orchard Precinct's School Holiday Program Kicks Off Today with the Kids Treasure Hunt and Family Picnic!!

We are looking forward to a day of fun and activity as pint-size nature detectives take over Strathdon House! Kids will be given clues to prompt their discovery of the different features and creatures that live at Strathdon House. Once they find the answers to the clues in the treasure hunt, children will get a sticker for your bush passport.

After the treasure hunt, take a break and enjoy a relaxing family picnic in the picturesque surroundings of the orchard. Spread out your blanket, savor delicious snacks, and soak up the sunshine.

BYO Picnic Rug and Food.

FEBRUARY 2024 | FIND MAROONDAH

11

12 FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au

ACCOUNTANT

By Warren Strybosch

There has been a lot of debate regarding the deductibility of financial planning fees. The main argument being that if the fees were deductible in nature more people could afford to seek financial planning advice.

Unfortunately, the ATO, after much consultation, does not look like it will change its stance on the tax deductibility of advice fees paid by individuals who are not carrying on a business.

TD 2023/D4 replaces a determination released back in 1995. However, the ATO has not changed it’s view on the tax treatment of financial advice fees in this new draft determination.

For example, upfront advice fees to establish and implement a financial plan are still considered ‘of a capital nature’ and are not deductible based on the guidance outlined in the determination.

TD 2023/D4 highlights that a deduction is available for advice fees under s 8-1 of the ITAA 97 where the fee directly relates to producing assessable income.

Additionally, fees charged by a recognised tax adviser for advice about managing your tax affairs are also deductible (s 25-5).

Financial Planning

Fees – Not deductible A deduction is not available for an advice fee to the extent that: • it is an outgoing of capital or of a capital nature; • it is an outgoing of a private or domestic nature; • it is incurred in gaining or producing a taxpayer’s exempt or nonassessable, non-exempt income, or • a provision of the Act prevents you from deducting it.

Where a fee relates to both income producing advice and for other purposes, the deductible amount should be apportioned based on a fair and reasonable basis.

The determination provides guidance on the evidence required to support the amount claimed as a deduction (eg. the adviser can provide an itemised invoice via their Fee Disclosure Statement or advice fee consent form).

This draft determination is open for public comment until 2 February before it is finalised however we are not confident that their position will change.

Warren Strybosch You can call them on 1300 88 38 30 or email info@findaccountant.com.au www.findaccountant.com.au Important Information This information is of a general nature only. It does not take into account your particular financial needs, circumstances and objectives. You should obtain professional financial advice if you have not already done so before acting on this information. You should read the Product Disclosure Statement (PDS) before making a decision to buy or sell a financial product. Any case studies, graphs or examples are for illustrative purposes only and are based on specific assumptions and calculations. Past performance is not an indication of future performance. Superannuation, tax, Centrelink and other relevant information is current as at the date of this document. This information contained does not constitute legal or tax advice.

The Summer School Holiday Program is here!

Dive into a range of fun and free summer activities to keep the kids entertained throughout the holidays.

Find out more

FEBUARY 2024 | FIND MAROONDAH 13

findmaroondah.com.au

Bookkeeping - Back to basics

BOOKKEEPING

By Jodie Moore

This month – The General Journal and General Ledger By now you will have set up your chart of accounts and will have transactions happening in your business, whether that be revenue from the sale of products or providing a service, as well as expenses you have incurred. Now you need to be able to record these transactions for use in future financial reports.

General Journal The General Journal lists every transaction that goes through your business in chronological order. If you are using accounting software such as Xero, this will mostly be done automatically using your bank feeds. If you are not using software, you will need to use an excel spreadsheet to record these. Your general journal will look a bit different depending on whether you are using the Cash method for accounting or the Accruals method.

Cash Method Simply put, the cash method, popular with small businesses, sole traders and businesses just starting out, is when transactions are recorded in the general journal at the time that cash physically changes hands. There will be one entry for each transaction. A bank statement is a good example of a General Journal using the cash method.

Accruals Method The Accruals method is when transactions are recorded at the time of the event regardless of whether money has exchanged hands. It uses Double Entry Accounting. Double Entry Accounting recognises that for every Debit Entry, there is a corresponding Credit entry, much like the two sides of a coin. One

is neither good nor bad, they are just names.

every transaction that was assigned to that account in the General Journal.

When you purchase inventory from a supplier, but you pay at a future date for example, the two events you need to record are 1. At the time you receive the goods and 2. When you pay the invoice.

For example, you might have a Telephone Account where every time you pay your telephone bill you will end up with a transaction in the Telephone Account ledger. If you use the Cash Method, then in the description you would just put a description of the transaction ie Paid telephone bill.

1. Receive goods - you will need to enter a Debit entry to show the increase in Inventory and a Credit entry to show an increase in your Accounts Payable (you owe money to the supplier).

2. Pay for goods a month later – Debit the Accounts Payable ledger account to show the money you owe to the supplier is being reduced and Credit the Bank ledger account to show money has come out of your physical bank account.

Although Accrual Accounting is a lot more time consuming, it can provide a much clearer picture of how well your company is doing and is usually used by larger businesses. It would be worth speaking to your bookkeeper to work out which method suits your business.

Whichever method you decide on, when entering your transactions in your general journal you will use the Account names that you came up with for your Chart of Accounts and then put a small description underneath. This will then make it easier to transfer these transactions to your General Ledger, which is your next step.

If you are using the Accruals method you would put the opposite Account name in the transaction. For our Inventory/ Accounts Payable/Bank example above, this would mean putting Accounts Payable in the description in the Inventory Account and vice-versa when recording receiving the goods, and Bank in the description for the Accounts Payable when recording the payment of the invoice and vice-versa.

At any point in time, you will be able to glance at a specific ledger in your General Ledger and understand what transactions were made in a particular period, whether that be a day/week/ month/year etc to result in the current balance.

When you are ready to start creating your Financial Reports, you can then transfer the balances of each of the ledgers in your General Ledger over to your Trial Balance. We will cover the Trial Balance in next month’s edition.

General Ledger The General Ledger has a ledger for all the Accounts in your Chart of Accounts.

Within each individual ledger, you list FEBRUARY 2024 | FIND MAROONDAH

13

14 FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au

Top 10 Common Concerns of

Breastfeeding Mothers

LACTATION CONSULTANT

By Dr. Joanna Strybosch

Breastfeeding can be a rewarding experience for many mothers, but it also comes with its challenges. Here are the top 10 concerns that breastfeeding mothers commonly face.

1. Latch Issues: Ensuring a proper latch is crucial for successful breastfeeding.

Some infants may struggle to latch properly, leading to nipple pain and difficulties in feeding.

2. Low Milk Supply: Many mothers worry about having an insufficient milk supply. This concern can stem from various factors, such as inadequate breastfeeding frequency, latch problems, or maternal stress.

3. Breast Pain and Engorgement: Breast engorgement, mastitis, and general breast pain are common concerns for breastfeeding mothers. These issues can be caused by blocked milk ducts, inadequate draining of the breasts, or infection.

4. Nipple Pain and Damage: Nipple soreness and damage can occur, especially in the early stages of breastfeeding. This may result from an

incorrect latch or positioning, and it can be a source of discomfort for mothers.

5. Breastfeeding in Public: Some mothers feel uncomfortable breastfeeding in public due to societal norms, lack of privacy, or concerns about judgment.

Finding a comfortable and private space can be a challenge.

6. Balancing Work and Breastfeeding: Returning to work poses challenges for breastfeeding mothers, including concerns about pumping, storing breast milk, and maintaining a breastfeeding routine while meeting work demands.

7. Introducing Solid Foods: Deciding when and how to introduce solid foods to a breastfeeding baby can be a source of confusion for mothers.

They may worry about the timing, types of foods, and how it will affect breastfeeding.

8. Sleep Deprivation: Breastfeeding often involves frequent night feedings, leading to sleep deprivation for mothers. Lack of sleep can impact overall well-being and make it challenging to cope with the demands of breastfeeding.

9. Social Support: Lack of support from family, friends, or healthcare professionals can be a significant

concern for breastfeeding mothers.

Adequate support is crucial for a mother's confidence and success in breastfeeding.

10. Weaning: When and how to introduce weaning is a concern of many mothers.

The decision to stop breastfeeding can be emotional and may involve considerations such as the baby's readiness, the mother's comfort, and the transition to alternative feeding methods.

It's important for breastfeeding mothers to seek support, consult healthcare professionals when needed, and address concerns promptly to ensure a positive breastfeeding experience for both mother and baby. Every breastfeeding journey is unique, and mothers should prioritise their wellbeing and the wellbeing of their infants.

FEBUARY 2024 | FIND MAROONDAH 15

findmaroondah.com.au

PERSONAL

•Are unable to care for yourself independently, or •Suffer significant and permanent cognitive impairment.

INSURANCE

TPD insurance pays a lump sum which can be used to pay for medical expenses, ongoing care costs and to meet living expenses for you and your family.

FINANCIAL PLANNER

The definition of TPD can vary and may include options for a range of occupations, including homemakers.

Options that you can choose from include:

By Erryn Langley

Financial planning is about protecting your wealth as well as building your wealth.

It is easy to think that you won’t get sick or hurt and ignore the need to protect the very thing that generates your wealth your own health and your ability to work.

But if accident or serious illness does occur the impacts can be devastating.

It’s worth remembering that no matter how much expert advice you receive or how well you manage your finances there is always a risk that you could suffer an early death or serious illness or injury.

Where that leaves you and your loved ones in the future depends on the wealth protection strategy you have in place.

Risks you could face in the future may include: • Emotional, physical or mental trauma • Death or serious illness • Loss of income due to temporary or permanent incapacity • Damage to your house or other personal assets • Theft of, and/or damage to business assets • Public liability and/or professional indemnity risks Your financial plan should include a strategy to minimise risks that could jeopardise both your present and future plans. In simple terms, if you cannot afford to lose something then you should try to protect your exposure. Insurance can provide a cost-effective protection mechanism.

trauma or death. The money received can help with medical bills, loan repayments and living expenses.

Many people often underestimate the importance of personal insurance which has led to a problem with underinsurance in Australia. It is important that you consider having enough cover to replace your income and cover expenses so that the personal tragedy does not create financial tragedy.

You can apply for insurance to cover you in the event of death, temporary or permanent disability, or trauma (critical illness). Outlined below is a brief outline of types of personal risk insurance.

Life Insurance The most common type of cover is life insurance (term life insurance). Life insurance will pay a lump sum to your estate or specific beneficiaries in the event of death or in some cases, on diagnosis of a terminal illness.

The advantage of life insurance is peace of mind that your death will minimise any financial hardship for your loved ones. Life insurance can be used to pay off debts, provide an income for dependents, cover funeral expenses and generally assist in maintaining your family’s lifestyle in the event of your death.

With this type of cover, your family would not be burdened by debt and may be protected from selling assets to pay debts or cover living expenses.

Total and Permanent Disability Insurance

This may take a combination of personal, general and health insurance policies.

There are many different aspects to insurance and it is best to tailor a package that suits your needs as well as your budget.

Total and Permanent Disablement (TPD) can prevent you from working and require expensive medical treatment and ongoing care.

How the Strategy Works Personal risk insurance protects your wealth accumulation strategy by providing money if you are no longer able to earn an income due to disability,

TPD insurance aims to provide a lump sum if you suffer an illness or injury and you: •Are permanently unable to work again or

• Any Occupation TPD: The benefit will be paid if you are unlikely to be gainfully employed in any business, profession or occupation for which you are reasonable suited by your education, training or experience. This definition is generally less expensive than an Own Occupation definition but for some people, it may be harder to meet.

• Own Occupation TPD: The benefit will be paid if you are unlikely to ever be gainfully employed in your own occupation. Own Occupation TPD provides a generous definition as it is specific to your occupation and is particularly suitable for specialist occupations. The premiums for this type of definition are more expensive than Any Occupation TPD. You should discuss your circumstances with your financial planner.

Trauma Insurance A serious illness or injury can prevent you from working for a period of time and may require expensive medical treatment.

Trauma insurance (also known as critical illness, crisis or recovery insurance) aims to provide a lump sum upon the diagnosis of a specified illness or injury such as life-threatening cancer, stroke or heart attack. Trauma insurance pays a lump sum that can be used to pay medical expenses and reduce any financial pressure while you focus on recovery. This payment is made regardless of whether you are able to return to work, and is designed to relieve financial pressure at a time when you are under great stress.

Child Trauma insurance can be added to your policy to cover a seriously ill or injured child. This provides a lump sum to help you cover medical treatment and eases financial worry for parents who may need to take time off work to provide care.

FEBRUARY 2024 | FIND MAROONDAH

15

16 FIND MAROONDAH |FEBRUARY 2024

Income Protection Insurance Income Protection insurance aims to minimise the financial impact of sickness or injury by replacing income lost during a prolonged absence from work. A monthly benefit will assist you to meet living expenses and debt repayments.

Income Protection policies will usually pay a benefit up to 75% of your gross income (some policies may pay higher) after a waiting period. Payments continue for a set term or until you return to work, whichever occurs first.

Waiting period: This is the time period that you must be off work before an income benefit is payable. Waiting periods range from 14 days to two years. Generally, the longer the waiting period, the lower the cost of the income protection insurance.

Benefit period: Starting at the end of the waiting period, the benefit period is the maximum time the benefit is paid.

Options range from two years, five years or until a specified age such as age 65.

Types of contracts include: Agreed value: The monthly benefit is agreed at the time of application and will not reduce even if your income decreases after your policy commenced.

This option provides certainty and peace of mind on how much income you will receive. If details of your income are provided at the time of application the benefit can be guaranteed so that no further financial assessment is required at the time of claim. Agreed value contracts are not available to new policy holders from 31 March 2020, however existing policy holders with an agreed value policy will still be able to increase their benefit amount.

Indemnity value: The monthly benefit paid may differ to the monthly benefit insured as it will depend on your earnings at the time of a claim. The monthly benefit received will be based on your gross income at the time of claim up to the monthly benefit insured. Details of proof of income will be required at the time of claim.

You can generally claim a tax deduction for the premiums paid on an income protection policy (other that any portion of the premium that is attributable to benefits of a capital nature such as physical injury or critical illness) However, income payments received are considered taxable income.

Premiums Premiums for all types of personal insurance will vary with age, gender and smoking status. Occupation and medical history may also affect the cost of premiums.

findmaroondah.com.au

Premium options include: Level premiums: The premium rate is fixed when you start the policy and does not change as you get older except in line with CPI indexation. Level premiums are initially higher (than stepped premiums) but will be more stable over time. This can help with affordability and reduce the risk that premiums will become unaffordable as you get older.

Stepped premiums: The premium rate increases each year according to you age.

Stepped premiums are initially more affordable than level premiums but over time may become more expensive. However, this option can provide you with flexibility as your needs change over time.

Your financial adviser can assist in determining which premium option is most appropriate for you.

Ownership Life, TPD and income protection policies can be owned personally or through a superannuation fund. Trauma insurance can be owned personally.

When held within a superannuation fund, the policy is owned by the trustees of the superannuation fund, for the benefit of the member.

When making a choice of how to own the policy you need to consider the advantages and disadvantages of each option.

Inside Superannuation

In Personal Name

Advantages • Premiums are paid using contributions into the fund (e.g. employer contributions) or your superannuation savings - this can help to ease a drain on your cash flow.

• Tax concession on contributions may reduce the effective cost of the premiums (e.g. salary sacrifices to cover the cost of premiums) • In some funds you may be eligible for automatic acceptance (for some cover) which means you will not have to provide evidence of health or income.

• The claim process are usually tax-free • Claim process will be paid directly to you, your estate or nominated benefeciary as appropriate. This ensures the money is available when you and your family need it • A wider range benefits and features may be availbale • Income protection premiums are generally tax deductable.

Disadvantages • The policies may have less benefits and features than those offered outside superannuation due to legislation restrictions • Tax may be payable on claims proceeds, depending on circumstances and rules at the time.

• Your dispossable income will reduced as you need to pay premiums from your after-tax income • Premiums need to be paid from after-tax money and so may be a higher cost to you than premiums inside superannuation

Taxation How insurance premiums and claim proceeds are taxed will depend on the type of insurance policy and beneficiary, but will also depend on whether you choose to hold the policy inside or outside of superannuation. You should seek specialist taxation advice to check the taxation applicable to your circumstances.

Inside Superannuation

In Personal Name

Premiums

• Premiums are deductible to the fund

• Not deductible except for income protection policies.

Claim Proceeds

• Life plicy - the proceeds are taxable unless paid to tax dependents • TPD - if you are under age 60 when you take this money out of superannuation, tax may be payable.

• Income protection - the benefits are assessable income to you and are taxed at your marginal tax rate.

• The proceeds from life, TPD or Trauma policy are generally taxfree. However, the benefits from an income protection policy are assessable income and taxed at your marginal tax rate.

FEBUARY 2024 | FIND MAROONDAH 17

findmaroondah.com.au

Application and Underwriting When applying for insurance you will need to complete an application form providing both personal and medical information so that the underwriter can assess the application. Some applicants may also need to undergo a medical examination and/or blood tests or a report may be requested from their usual doctor to determine whether to accept or decline the cover.

Depending on your circumstances and health you may be asked to pay an additional premium, known as a loading, if you have an unfavourable medical history or display higher risk factors for developing chronic illness such as being overweight or high blood pressure. In some cases, the life insurance company may apply an exclusion to your policy.

For example, a decision may be made to not cover your for high risk activities and sports or a pre-existing injury/illness.

This means that if an event occurs that is excluded, the benefit under the policy will not be paid.

Many policies are guaranteed renewable. This means that as long as you pay the premium you will continue to receive cover regardless of any changes in your circumstances or health.

If you do not pay your premiums, your insurance will lapse. Some life companies may provide a short window of opportunity to pay your overdue premiums to maintain the cover if you have missed the due date. If your policy lapses and your health or circumstances have changed it may impact on your ability to get the same cover at the same premium.

It is important to understand the benefits included in your policy, and optional extras. Benefits included are at no extra cost however optional extras may

work has never been harder, or more necessary.

Here’s how to do it

While the show explores the pitfalls of such a split in consciousness, there’s no denying it’s a tantalising prospect to be able to “flick the off switch” and forget about work whenever you’re not actually supposed to be working.

This is known as “psychological detachment”. People who can do it are happier and healthier, and experience less fatigue. But many of us struggle to detach and disconnect mentally from work, particularly when our jobs are demanding and stressful.

It may not be enough simply to be physically away from work, particularly in an era when so many of us work from home. We also have to stop thinking about work when we’re not there – whether it’s fretting over your to-do list

Erryn Langley 1300 557 144 | erryn@findwealth.com.au www.findwealth.com.au Financial Planning is offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth. Find Wealth is a Corporate Authorised Representative (No 468091) of Alliance Wealth Pty Ltd ABN 93 161 647 007 (AFSL No. 449221).Part of the Centrepoint Alliance group https://www.centrepointalliance.com.au/ Erryn Langley is Authorised representative (No. 1269525) of Alliance Wealth Pty Ltd. This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

Whilst all care has been taken in the preparation of this material, it is based on our understanding of current regulatory requirements and laws at the publication date. As these laws are subject to change you should talk to an authorised adviser for the most up-to-date information. No warranty is given in respect of the information provided and accordingly neither Alliance Wealth nor its related entities, employees or representatives accepts responsibility for any loss suffered by any person arising from reliance on this information.

• exercise • spending time with family and friends • leisure pursuits.

Switching off from

In the hit dystopian TV series Severance, employees at biotech corporation Lumon Industries find it easy to separate work and home life. A computer chip is inserted in their brains to act as a “mindwipe”. They leave all thoughts of home behind while at work, and completely forget about their work when at home.

increase your premium. Your financial adviser can discuss the features of the recommended policy with you.

while out at dinner, thinking about your unanswered emails while you’re at your daughter’s soccer game, or lying in bed pondering what you’ll say at tomorrow’s board meeting.

The art of detachment Your choice of activity outside work can be crucial to this process of psychological detachment. To learn more about what strategies are most effective, my research surveyed nurses who were working shifts in hospital emergency departments in 2020, a highly stressful work environment.

My colleagues and I collected data from 166 nurses, using a survey called the Recovery Experience Questionnaire.

This included collecting information about the underlying psychological experiences associated with home-time activities, such as feeling relaxed while reading a book or going for a walk.

Importantly, our survey results also showed nurses who were better able to forget about work had less fatigue and better physical and mental health. Our results identified three key strategies that helped our survey participants to reduce fatigue and mentally recover from work:

The physical benefits of exercise are well known. But exercising – whether it’s doing yoga, going for a run or playing netball – also brings mental benefits by encouraging you to focus deeply on what you’re doing rather than dwelling on outside thoughts. Friendship and social connection are also good for our wellbeing. Research suggests people who have plenty of friends and confidants are less likely to die from chronic disease. And one study found people who undertake a difficult task with the help of a friend have fewer abrupt changes in heart rate than those who tackle the task alone.

Deliberately making time to spend with family, friends or pets can help us forget about work at home, and to centre our attention instead on what is important to us besides work.

Many of the nurses in our study reduced the effects of fatigue during home time by pursuing hobbies and interests such as sewing or gardening. But you shouldn’t worry too much about what specific activity you pursue – the main thing is to pick something you find pleasurable and engaging, and which fits comfortably around your existing commitments.

By Jane Gifkins Researcher, Centre for Work, Organisation and Wellbeing, Griffith University

FEBRUARY 2024 | FIND MAROONDAH

17

2024 TAX UPDATES Small Business Energy Incentive to Become Law Businesses with an aggregated turnover of less than $50 million will be entitled to a 20% deduction for expenditure that supports electrification and more efficient use of energy.

This bonus deduction will be available for expenditure incurred from 1 July 2023 until 30 June 2024.

The additional deduction will be available for eligible expenditure of up to $100,000 and is therefore capped at $20,000 for each business.

Announcement(2-May-2023) Consultation(4-Jul-2023) Introduced(13-Sep-2023) Passed Royal Assent

The temporary measure will apply to eligible assets or upgrades first used or installed ready for use between

Date of effect

1 July 2023 and 30 June 2024.

A Bill proposing this measure has been introduced in the parliament and awaits approval.

Small Business Instant Asset Write-off — deduction Threshold Set to Increase A Bill proposing to increase the instant asset write off threshold in Div 328 of ITAA 1997 from $1,000 to $20,000 has been introduced in the Parliament. Originally announced in the 2023 Federal Budget, the increased threshold applies from 1 July 2023, and once enacted, small businesses with aggregated turnover of less than $10 million can immediately deduct the full cost of eligible assets.

Announcement(9-May-2023) Consultation Introduced(13-Sep-2023)

This proposed measure applies to the cost of eligible depreciating assets, second element costs and

Passed

general small business pools.

Royal Assent Date of effect

Eligible assets must be first used or installed ready for use between 1 July 2023 and 30 June 2024, and the write-off applies on a per asset basis.

ATO finalises guidance on the deductibility of costs relating to holding vacant land From 1 July 2019 onwards, s 26-102(1) of ITAA 1997 denies certain taxpayers a deduction for expenses relating to holding vacant land. This also extends to vacant land on which there is no substantial and permanent structure in use or available for use.

Announcement(27-Sep-2023)

The finalised Taxation Ruling TR 2023/3 provides the ATO’s view on when there is a substantial structure on land or the land is used in carrying on a business, and the deductibility of expenses relating to holding such

Consultation period Released

land. This tax ruling applies to individuals, SMSF trustees, private trusts and partnerships comprising any of these, but not to companies and managed investment trusts.

Payday super - commencement of consultation process As part of the 2023–24 Federal Budget, the government announced the introduction of “payday super”.

Aiming to provide better retirement outcomes for employees, from 1 July 2026, employers will be required to pay their employees super at the same time as their salary and wages.

This measure aims to increase transparency for employees as well as increase early deduction and compliance actions by the ATO for any unpaid superannuation entitlements.

Announcement(24-Jan-2023) Consultation(9-May-2023) Introduced(13-Sep-2023) Passed

Increased payment frequency of superannuation will also provide additional time in the superannuation fund for employees to benefit from compounding returns.

The Treasury commenced consultation for this measure on 9 October 2023 to receive feedback from industry groups and stakeholders.

Royal Assent Date of effect

2024 TAX UPDATES Update on NALI Amendments for SMSF General Expenses The non-arm’s length income (NALI) measure announced by the Coalition government in 2022 will be amended to provide greater certainty to taxpayers.

Announcement(2-May-2023)

The intention of the proposal is to include a factor-based approach for trustees to be able to adequately calculate the amount of SMSF income that is NALI income. This factor-based approach applies to a situation where general expenses of the fund are not at arm’s length amounts.

Consultation(9-Oct-2023) Introduced Passed Royal Assent Date of effect

The factor-based approach would apply to general fund expenses incurred after 1 July 2023.

ATO provides guidance on depreciation of composite items The ATO has released guidance on whether an asset that is made up of a number of components (a composite item) is itself a depreciating asset, or whether one or more of its components are separate depreciating assets.

The Draft Taxation Ruling TR 2023/D2 provides the Commissioner’s view on identifying the relevant

Announcement(3-Oct-2023)

depreciating asset and hence its effective life and depreciation rate for the purposes of Div 40 of ITAA 1997.

Consultation period

Guiding principles have also been provided to help ascertain the level of “interest in the underlying asset”

Released

and apply the decline in value provisions for the purposes of s 40-35.

This Ruling does not address Div 43, which provides deductions for certain capital works expenditure.

Off-market share buy-back legislation passed by Parliament Legislation amending off-market share buy back provisions for listed public companies has been passed by the Parliament and awaits royal assent. This measure, once enacted, will align the tax treatment of offmarket share buy-backs and on-market share buy-backs.

An on-market buy-back generally happens if the share is listed on a stock exchange and the buy-back

Announcement(17-Nov-2022)

transition occurs through the stock exchange. Any other type of buy-back is considered an off-market

Consultation(17-Nov-2022)

buy-back. This measure will ensure that the buy-back price does not include any dividend payments (potentially frankable) when a listed public company conducts an off-market share buy-back of shares or non-share equity interests. It will bridge the capital benefit gap created by franking credit offsets received

Introduced(16-Feb-2023) Passed(16-Nov-2023) Royal Assent Date of effect

by shareholders.

This measure excludes off-market share buy-backs undertaken by private companies and companies that are listed on a stock exchange but are not widely held.

Non-commercial losses and the Commissioner’s safe harbour extended Sole traders and partners in a partnership may be able to utilise a safe harbour to deduct non-commercial losses against other assessable income.

The PCG bypasses the Commissioner’s discretion under the non-commercial loss rules, where a business

Announcement(11-May-2022)

has been directly affected by floods, bushfires or the COVID-19 pandemic.

Consultation period(21-Jun-2022) Released(14-Sep-2022)

The business will be required to show necessary evidence to support using the safe harbour.

The safe harbour applies for the 2019–20, 2020–21, 2021–22, 2022–23 and 2023–2024 income years.

FEBRUARY 2024 | FIND MAROONDAH

19

Maroondah Council News

FEBRUARY 2024

Championing

student

wellbeing Council’s Student Wellbeing Action Teams (SWAT) program is back for 2024! Council is working with local schools to engage Year 10 students who have displayed an interest in the wellbeing of themselves and others and who want to create positive change.

SWAT offers a selection of Year 10 students from participating schools an immersive opportunity to discover their strengths by partaking in a variety of skill-building activities, while encouraging the creation of positive change in the community. Mayor of Maroondah, Councillor Kylie Spears, encouraged young people to find out more about the program.

“Council’s Student Wellbeing Action Teams program is a wonderful opportunity for young people in Maroondah to further develop their skills while raising the wellbeing of others and creating meaningful change.

camp and there were so many different people with different personalities – it was so good.

I encourage Year 10 students in Maroondah to find out more about the program and see if they are eligible to apply,” Cr Spears said.

Find out more Find out more about the Student Wellbeing Action Teams program on our website. Alternatively get in touch with Council’s Youth team on 9294 5704 or email youth@maroondah.vic. gov.au.

Past participant Paige only had positive feedback about her experience and said it was an honour to be recognised. “I met so many people and managed to build off them and learn. We were in a scout

“The people who ran it were so understanding and you get so much out of it,” Paige said.

SWAT is supported by the Victorian Government through the Engage! program.

Celebrate Maroondah - Movie Night - Raya and the Last Dragon Bring the family along for a free outdoor screening of Raya and the Last Dragon!

We are hosting another series of Celebrate Maroondah events at a variety of locations throughout City of Maroondah in February and March. Our first of three events is an outdoor movie night at Wyreena Community Centre and will coincide with Lunar New Year celebrations.

Find out more

Maroondah Council News

Heartwarming program

uniting generations

A heartwarming initiative is forging a connection between adults with disabilities and the children at Maroondah Occasional Care.

Monkami’s ‘Happy Days’ program not only promotes inclusivity but also fosters a unique intergenerational bond. Monkami is a not-for-profit community organisation dedicated to providing support and opportunities for adults with disabilities across various

day programs and residential services in Melbourne’s outer east. Each Friday morning, Happy Days brings together adults with disabilities to connect and socialise with children in creative art activities, sensory play, music and movement, and outdoor physical play.

Mayor of Maroondah, Councillor Kylie Spears, said the intergenerational program allows participants to develop meaningful connections through shared learning.

MAY 2022

findmaroondah.com.au

FEBRUARY 2024

“Happy Days is a fabulous program.

For the adults, the program represents an opportunity to share their unique perspectives, build life skills and develop their sense of self.

For the children at Maroondah Occasional Care, it’s a chance to learn about diversity, empathy, and acceptance from an early age. Through collaborative learning, they each learn new things from one another,” Cr Spears said.

Staff as well as parents have observed rich and authentic relationships between Happy Days participants and the children who attend Maroondah Occasional Care. “I love coming here,” Happy Days participant Stevie said. “I can teach the children and they listen to me. I can help them do things. The children yell out ‘hello’ and come up to me to show me what they are making.”

Local parent Anna said Happy Days is “a wonderful program” that provides her three-year-old daughter with “the joy of interacting with people from all walks of life” while teaching children to “appreciate that everyone is different and that difference is a good thing”.

Find out more about Occasional Care.

Maroondah

Maroondah City Council International Women's Day breakfast Guest Speaker - Dr Shona Bass Shona has lived her life as a trailblazer, proudly wearing the mantle of an ‘Original Matilda” – as a player in the inaugural Australian Women’s Soccer Team and later a National Coach of the U/17 girls’ team.

Event details: Date: Wednesday 6 March Time: 7.15am to 9am Venue: Karralyka Centre.

Mines Road, Ringwood East 3134 Cost: $25 per person Bookings close: Monday 26 February 2024

Find out more

FEBRUARY 2024 | FIND MAROONDAH

21

Are you Not-For-Profit in Maroondah Area?

Advertise your events for FREE on the following pages.

Are you a NFP with an up-and-coming event? If so, email your event to editor@findmaroondah.com.au and we will place it in the paper for FREE.

Maroondah

Ltd

SUPPORT YOUR LOCAL NOT-FOR-PROFIT

NOT-FOR-PROFIT

OF THE MONTH

Maroondah Calisthenics Club Inc We wish to introduce you to the Maroondah Calisthenics Club (MCC), which finds its home at the Bill Wilkins Lodge, Ringwood. It is facilitated on the lands of the Wurundjeri people and wishes to acknowledge them as the Traditional Owners, paying respects to their Elders, past and present. Our College is a notfor-profit, incorporated association that has continuously operated since 1973.

Aside from our exceptional + qualified coaching team, it is run entirely by our committee – a group of invaluable volunteers.

History of MCC Finding its beginnings in 1973, it now finds itself among more than 100 calisthenics clubs throughout Victoria. Maroondah Calisthenics Club prides itself on its longevity, built on lasting friendships & family at its core. What makes Maroondah standout? We believe what makes our club unique is our desire to have fun! We love to be competitive and present our very best every time we step on that stage, but winning at all costs has no place here. Our respect for one another is based on the foundations of enjoying being together, working as a team, learning with and from one another, whilst achieving our common goals as a team. MCC currently holds the Calisthenics Victoria Silver Leading Club accreditation, with advances to achieve Gold Level in process.

This program endorsed by Sport and Recreation Victoria and VicSport ensures quality assurance to implement effective management for calisthenics clubs.

It speaks to the club’s commitment to each & every member to give them the best experience the sport of calisthenics has to offer.

2022 saw the inaugural launch of Maroondah’s very own Solo Competition, which has become a standout host of the calisthenics solo competition season running each year between March through to May. It demonstrates the volunteers’ love of the sport & its members, supporting Calisthenics Victoria’s provision of further development opportunities. Celebrating our 50th year in 2022 was an exciting milestone – no small feat in amongst this vast array of sport & dancing opportunities at hand.

What is Calisthenics?

Calisthenics is an artistic team sport unique to Australia with performance at its heart. It combines dance, gymnastics/ acro, singing, apparatus manipulation and ballet. Calisthenics involves a team of participants of set age groups – offered from 3yrs-63+yrs old! - who learn four to six routines throughout the year choreographed to music, which are then presented on a theatre stage at competitions and concerts. The routines are defined by the following items, age dependant: Figure Marching, Club Swinging, Free Exercises, Rods, Aesthetic and Rhythmical Aesthetic Exercises, Song and Dance, Calisthenic Revue, and/or Dance Arrangement.

Calisthenics combines the best aspects of sport and performing arts.

Benefits of Calisthenics Calisthenics enhances physical, emotional, intellectual and social development for performers, and helps to develop: • Strength, flexibility, coordination, fitness • Grace, poise, posture • A valuable understanding of the commitment • Musical appreciation and rhythm

importance

of

february 2024

EDITION

• • • •

Team spirit, goal setting Confidence, leadership, responsibility, perseverance, resilience, self-esteem Fun and friendships Wide variety of Calisthenics skills

Latest Achievements The past year has seen each & every performer, alongside the expert training + eye for excellence of our invaluable coaching team + volunteer helpers, excel and develop to achieve outstanding results both individually and as a team.

Across each of our sections we saw great progress, with particular spotlight on both our Subbies + Inters sections who came away with aggregate/reserve trophies at nearly every competition throughout their season, not to mention our exceedingly awe-inspiring Seniors who have worked tirelessly to now advance to the Premier section!

Special mention to one of our members Jemma, who was selected for the Victorian Inters State Team, competing at the 2023 Nationals! We were also proud to cheer on our Development Squad Representatives at both Juniors (Eloise) & Inters (Ava & Ciara) levels. Solo State Champs Ciara + Kyah continued to represent the Maroondah family well, alongside a vast array of soloists throughout the 2023 season. And of course, who can forget the memorable special item at our Annual Concert – the Rough Diamonds is a group of dedicated Dads/family members who make an appearance for the love of their kids & this sport – be sure to check them out on YouTube.

We continue to strive to keep this family focus alive from the classic Bunnings fundraisers to Trivia nights, not to mention the club-wide involvement across our annual Camp – the kids & grown-ups alike love to make memories and friendships to last a lifetime. We appreciate the ongoing support of Michael Sukkar(MP), Member for Deakin, who continues to invest his time & belief into the Club, enabling us to achieve things such as new facilities – we love to develop local community connections. And of course none of this would be possible without the ongoing generosity of our volunteers – mums, dads, members, grandparents, plus the hours of time our coaches give generously above & beyond set classes – without which the club would not run. We are so appreciative of all you give & do!

2024 and beyond We can’t wait to see what’s in store for 2024 and beyond for our Club, its individual members, as well as the sport of calisthenics! Be sure to register to Come & Try 2 FREE Classes to discover what its all about – experience the magic of calisthenics and we’re sure you’ll never look back!

Contact Us W: maroondahcal.asn.au E: info@maroondahcal.asn.au Bill Wilkins Lodge, Ringwood Classes Time: (ages as of 31st Dec 2024) Tinies (3-7yrs) Saturday 09:30-11:00am Subbies (8-10yrs) Saturday 11:45am-2:30pm Juniors (11-13yrs) Friday 5:30-8:30pm Inters (14-17yrs) Thursday 6:00-9:00pm Seniors (17yrs+) Tuesday 6:30-10:30pm Masters {Sapphires or Emeralds} (26yrs+) Monday 7:30-10:00pm

NOT-FOR-PROFIT EVENT ADVERTISEMENT

FEBRUARY 2024

26 FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au

Do you have an upcoming events?

Place your EVENT AD here for FREE in our community online paper.

SEND US YOUR NEWS! Simply upload your ad at www.findmaroondah.com.au/nfp-free-advertising

or you can email the ad to the editor@findmaroondah.com.au and we will do the rest for you.

Victorian Folk Music Club Inc. Registered No. A2511Y

Family Bush Dance Saturday, 3rd February 2024

(and the first Saturday of every month except January)

7:30 -10.30pm - light supper included Ringwood East Senior Citizens’ Hall Laurence Grove, Ringwood East Featuring live music with:

Blackberry Jam

Entry: $10 members, $12 non-members, Kids free.

Tickets available at the door or online at: https://events.humanitix.com/vfmc-feb2024-dance

Phone: Email: Website:

Bill 0417 300 682 dance@vfmc.org.au www.vfmc.org.au

NOT-FOR-PROFIT EVENT ADVERTISEMENT

findmaroondah.com.au

FEBRUARY 2024

FEBUARY 2024 | FIND MAROONDAH 27

OC

AL

TA S U S SU

NDAY

INABIL 17 MARC

H

ITY

FA

I

R

L

2024

10am - 2pm

bit.ly/susfair24

Do you have an upcoming events?

Place your EVENT AD here for FREE in our community online paper.

SEND US YOUR NEWS! Simply upload your ad at www.findmaroondah.com.au/nfp-free-advertising

or you can email the ad to the editor@findmaroondah.com.au and we will do the rest for you.

FEBRUARY 2024 | FIND MAROONDAH

27

FEBRUARY 2024

Haigh's Chocolates Valentine's Day Haigh’s Valentine’s Day 2024 range is fun and youthful with neon pink and lilac colours the key features.

This year’s collection sees the return of the Valentine’s Day Heart Shaped Gift Box filled with popular Truffles including the delectable new limited release Milk Irish Cream Truffle – a soft Irish cream liqueur flavoured centre enrobed in premium milk chocolate. Also new to the range is the Valentine’s Gift Box filled with a selection of milk and dark favourites including Milk Honeycomb Block, Cinema Mixture and Dark Cherry Bars – making the perfect gift for your special person.

Of course, it wouldn’t be Valentine’s Day at Haigh’s without the very popular small, medium, and large chocolate hearts wrapped in lilac or silver foils. The hearts are available individually, in an acetate gift box, mini gift box and a Valentine’s Day Card with Milk Chocolate Heart to write your own personalised message. We also continue to support Variety the Childrens Charity with part proceeds from the sale of the Large Milk Chocolate Heart donated to Variety’s valuable work to help children in need. Hampers filled with milk and dark chocolates complete the range and a complimentary gift wrapping is also available in the stunning, bright coloured paper. Haigh’s Valentine’s Day range will be available from Tuesday 23rd January in all Haigh’s Chocolates stores across Adelaide, Sydney, Melbourne, Canberra and online at haighschocolates.com.

Discover more

Discover more

Discover more

New Cherry Strawberry Range

Gift giving made easy

Make this the Sweetest Valentine’s Yet

Encounter a love story during this Valentine’s Day with L'Occitane's limited edition Cherry Blossom & Strawberry range! A collection that emits a fruity aroma carried by heart shaped strawberries and a floral blend of fresh cherry blossoms.

Gifts from the heart. So much choice from fashion to sports gear, to gadgets and grooming. We've got Valentine's Day gifts covered.

Love is in the air, and so is the sweet aroma of freshly baked Valentine's donuts at Daniel's Donuts! From February 1st through the 14th, Daniel’s is thrilled to present their exclusive Valentine's Day donut, featuring the irresistible "Love at First Bite" that's set to steal your heart.

FEBUARY 2024 | FIND MAROONDAH 29

findmaroondah.com.au

RETIREMENT &

AGED CARE

FEBRUARY 2024

How much do I need

in retirement for 2024 and beyond?

RETIREMENT

By Warren Strybosch

One of the most important steps in planning to save for your retirement is working out how much you will need to spend each year to live a comfortable lifestyle.

However, for most people, they find it difficult to work out what amount they need to save in order to have enough for their future goals and daily living expenses.

At Find Retirement, we help clients answer this crucial question before they retire. Not only do we help them work out if they have enough money to retire on, but we also show them if they can afford all their future goals e.g., overseas holiday or purchase of new caravan, and help them understand what impact this will have in the long term – clients want to know that they are not going to run out of money.

Couple

Single

$690,000

$595,000

(Source: https://www.superannuation.asn.au/)

A comfortable retirement lifestyle enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as: household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.

Whilst it is important to seek advice to get the modelling done so you can understand, in detail, what your situation will look like, the Association of Superannuation Funds of Australia (ASFA), produce data, which is updated each quarter, to help pre-retirees understand how much they might need before they retire and what their likely budget might be if they wish to live a comfortable or modest retirement. However, this is only a guide or a reference point to help you get started thinking about your own situation. Again, it is important to seek advice to make sure you understand your own situation, which is always different to someone else’s retirement needs.

For those who are about to retire and have reached the age of 67, it is estimated you will need about $595,000 as single person and $690,000 if you are a couple.

(Source: https://www.superannuation.asn.au/) FEBRUARY 2024 | FIND MAROONDAH

29

RETIREMENT &

AGED CARE

FEBRUARY 2024

The lump sum estimates take into account the receipt of the Age Pension both immediately and into the future and assumes the retirees own their own home outright and are relatively healthy. The Age Pension is adjusted regularly by either the increase in the CPI or by a measure of wages growth, whichever is higher.

We have included below the ASFA’s detailed budget for those aged 65-84. It is a good guide as to how much you will likely spend in retirement.

If you are considering retiring in 2023 and have more than $595,000 saved up in super but are not sure of the next steps, then speak to one of the financial advisors at Find Retirement. The financial advisor will help you transition from full-time work to retirement with ease.

ASFA Retirement Standard for retirees

for retirees aged 65-84

September quarter 2023 COUPLE Expenditure items

Building and contents insurance

SINGLE

Comfortable lifestyle

Modest lifestyle

Comfortable lifestyle

Modest lifestyle

$41.20

$41.12

$38.85

32.35

RETIREMENT &

FEBRUARY 2024

AGED CARE

Building and contents insurance

$41.20

$41.12

$38.85

$32.35

Council rates

$44.53

$40.67

$44.53

$38.32

Water charges

$26.50

$26.50

$22.81

$22.81

Home improvements

$7.84

$0.00

$7.84

$0.00

Repairs and maintenance

$23.51

$23.51

$23.51

$23.51

Total housing

$143.57

$131.79

$137.55

$116.99

Electricity and gas

$63.04

$53.89

$50.83

$116.99

Food - groceries and other fresh food

$245.07

$202.18

$141.00

$109.06

Bundle of home phone, broadband, mobile

$29.66

$20.53

$22.79

$18.22

Household cleaning and other supplies

$30.79

$18.40

$23.60

$18.40

Cosmetic and personal care items

$7.57

$7.25

$5.41

$5.18

Barber or hairdressing

$26.65

$11.79

$17.36

$7.07

Media, including digital

$9.36

$2.74

$9.14

$2.74

Computer, printer and software

$5.04

$2.84

$5.04

$2.84

Household appliances, air conditioners, smart phone

$18.35

$16.94

$16.94

$0.00

Mischellaneous

$7.87

$46.02

$7.87

$39.23

Total household goods and services

$105.63

$131.79

$85.35

$116.99

Clothing and footwear

$52.37

$40.01

$28.12

$21.05

Car transport and running costs

$188.77

$111.39

$176.64

$107.02

Public transport

$5.49

$5.49

$2.74

$2.74

Total Transport

$194.25

$116.88

$179.38

$109.77

Numbers are weekly, except where otherwise specified. Totals may not exactly equal the sum of components due to rounding of price adjustments.

(Source: https://www.superannuation.asn.au/)

Warren Strybosch Award winning Financial Adviser and Accountant

Financial Planning is offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth & Find Retirement. Find Wealth is a Corporate Authorised Representative (No 468091) of Alliance Wealth Pty Ltd ABN 93 161 647 007 (AFSL No. 449221).Part of the Centrepoint Alliancegroup https://www.centrepointalliance.com.au/ Warren Strybosch is Authorised representative (No. 468091) of Alliance Wealth Pty Ltd. Services offered are superannuation, retirement planning and aged care advice.

This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the

Part of the Find Group of Companies

You can call them on 1300 88 38 30 or email info@findretirement.com.au | www.findretirement.com.au

appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

Whilst all care has been taken in the preparation of this material, it is based on our understanding of current regulatory requirements and laws at the publication date. As these laws are subject to change you should talk to an authorised adviser for the most up-to-date information. No warranty is given in respect of the information provided and accordingly neither Alliance Wealth nor its related entities, employees or representatives accepts responsibility for any loss suffered by any person arising from reliance on this information.

FEBRUARY 2024 | FIND MAROONDAH

31

RETIREMENT &

FEBRUARY 2024

AGED CARE

AGE CARE BASICS – RAD vs DAP

AGED CARE

By Warren Strybosch

When moving a loved one into care, there are several costs to consider. The first one is regarding the Refundable Accommodation Deposit (RAD). If your loved one is not assessed as being ‘Low Means’, something we will cover in next month’s article, then you will be required to pay the RAD. The RAD is set by the accommodation provider and is a lump sum payment required to secure a room in a facility.

RADs can start as little as $450,000 and can be as high as $1,250,000. It can be a very scary thought for some people because often, most people moving into care, do not have a lazy $1,000,000 lying around to pay the RAD. If you cannot pay the RAD, then you might need to consider paying the Daily Accommodation Payment (DAP).

The DAP is like rental payments. Instead of paying, let's say, the $1,000,000 RAD, you would pay a daily rate of rent based on that $1,000,000 RAD. How much you pay is determined by the government who set the maximum permissible interest rate (MPIR) (currently at 8.38%) to your agreed room price (RAD cost). If the RAD or room cost is $1,000,000, then the daily DAP fee would be $229.59 per day ($1,000,000 x 8.38% divide 365 days).

The decision between paying a Refundable Accommodation Deposit (RAD) or a Daily Accommodation Payment (DAP) when entering residential aged care in Australia depends on various factors, including your financial situation, preferences, and long-term goals. Here are some considerations to help you make an informed decision:

Paying a Refundable Accommodation Deposit (RAD): Pros: 1. Refundability: The RAD is refundable when you leave the aged care facility. This can be beneficial for estate planning, as the refunded amount can be passed on to your beneficiaries.

2. Potential for Interest Earnings: Some aged care providers offer to pay interest on the RAD. While the interest rate is set by the government, this can contribute to the overall return on your investment.

3. Certainty of Lump Sum Payment: You make a one-time lump sum payment, providing certainty regarding the upfront cost of accommodation.

4. No Potential Impact on Age Pension: Whilst the RAD is considered an asset, it is not considered a financial asset and therefore no income is deemed to be earned on this amount. Any amount paid as a RAD is also excluded from the age pension asset test.

Cons: 1. Reduced Cash Flow: Paying a large lump sum may impact your immediate cash flow, especially if you have limited liquid assets.

2. Avoiding Daily High Interest Charges: As discussed above, if you do not pay the RAD, you must pay the DAP. With a current interest rate of 8.38%, the DAP can become an expensive option over the long term.

Paying a Daily Accommodation Payment (DAP): Pros: 1. Preservation of Lump Sum: Opting for a DAP allows you to preserve your lump sum, which can be advantageous for maintaining financial flexibility and addressing future needs.

2. Smaller, Ongoing Payments: The DAP is an ongoing daily payment, which may suit individuals who prefer smaller, more manageable payments over time.

Cons: 1. Non-Refundable: Unlike the RAD, the DAP is not refundable. You won't receive a lump sum back when you leave the aged care facility.

2. Longer-Term Cost: Over an extended period, the total cost of the DAP may surpass the equivalent RAD amount, depending on your length of stay.

RETIREMENT & Considerations: 1. Financial Assessment: Conduct a thorough financial assessment to understand your assets, income, and how different payment options may impact your overall financial situation.

2. Cash Flow: Consider your current and future cash flow needs. If you have sufficient liquid assets to pay a RAD without compromising your lifestyle, it might be a viable option.

3. Estate Planning: If passing on a lump sum to your beneficiaries is a priority, the refundability of the RAD may be appealing.

4. Negotiation: Be open to negotiating with the aged care provider regarding the RAD amount. Some providers may be willing to adjust the RAD based on individual circumstances.

5. Financial Advice: Seek advice from a financial advisor or aged care specialist to ensure you understand the implications of each payment option and how it aligns with your financial goals.

AGED CARE

payment. If you choose to pay a lump sum (the RAD) you then have 6 months to pay the money to your provider.

FEBRUARY 2024 Warren Strybosch Award winning Financial Adviser and Accountant

If after the 6-month period, you cannot afford to pay the RAD, the provider can either proceed to sue you for not meeting your contractual obligations or they can remove your loved ones from the premises for non-payment.

Part of the Find Group of Companies

It is better to agree to pay the DAP even if you believe you have enough funds to pay the RAD. Whilst paying the DAP, at any time you can make contributions to the RAD, which will then reduce the DAP payments.

Financial Planning is offered via Find Wealth Pty Ltd ACN 140

Ultimately, the choice between RAD and DAP is a personal one, and there is no one-size-fits-all answer. It's important to carefully assess your financial situation, goals, and preferences before making a decision. Consulting with professionals can provide valuable insights and help you make an informed choice.

You can call them on 1300 88 38 30 or email info@findretirement.com.au www.findretirement.com.au

585 075 t/a Find Wealth. Find Wealth is a Corporate Authorised Representative (No 468091) of Alliance Wealth Pty Ltd ABN 93 161 647 007 (AFSL No. 449221).Part of the Centrepoint Alliance group https://www.centrepointalliance.com.au/ Warren Strybosch is Authorised representative (No. 468091) of Alliance Wealth Pty Ltd. This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

Whilst all care has been taken in the preparation of this material, it is based

However, one must be careful if they agree to pay a RAD and then don’t have the funds. You have 30 days from entering aged care accommodation to decide how you want to make your

At Find Retirement we provide retirement and aged care advice. If you wish to speak to a financial planner about your aged care needs, then call 1300 88 38 30 to book an initial meeting.

on our understanding of current regulatory requirements and laws at the publication date. As these laws are subject to change you should talk to an authorised adviser for the most up-to-date information. No warranty is given in respect of the information provided and accordingly neither Alliance Wealth nor its related entities, employees or representatives accepts responsibility for any loss suffered by any person arising from reliance on this information.

Financial Planning is offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth. Find Wealth is a Corporate Authorised Representative (no. 468091) of Alliance Wealth Pty Ltd ABN 93 161 647 007 (AFSL No. 449221). Part of the Centrepoint Alliance group www.centrepointalliance.com.au | Warren Strybosch is Authorised representative (No. 236815) of Alliance Wealth Py Ltd. This information has been provided as a general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriates of the advice. You should obtain and consider the relevant Product Disclosure Statment (PDS) anf seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mention in this communication.

Whilst all care has been taken in the preparatin of this material, it is based on our understanding of current regulatory requirements and laws at the publication date. As these laws are subject to change you should talk to an authorised adviser for the most up-to-date information. No warranty is given in respect of the information provided and accordingly neither Alliance Wealth nor its related entities, employees or representative accepts responsibility for any loss suffered by any person arising from reliance on this information.

FEBRUARY 2024 | FIND MAROONDAH

33

PAGE

34 FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au PROFESSIONAL SERVICES

PROFESSIONAL SERVICES Special Tax Return Offer $99 Returns - PAYG Only We have made it cheaper and easier for you to get your returns completed & you can do it all from the comfort of your own home.

Here are the steps involved: 1. Email to info@findaccountant.com.au requesting your PAYG return to be completed. Provide us with your full name, D.O.B and address.

2. A Tax engagement letter will be emailed to you for signing via your mobile (no printing or scanning required).

3. You will be then sent a tax checklist to complete online. Takes less than 5 minutes.

4. We will then require you to upload your documents to our secure portal.

5. Once we have received all your documentation, we will complete the return.

6. We will email you the completed return with our invoices. Once you sign the return and pay the invoice we will lodge the return on your behalf.

1300 88 38 30 Important: This offer is only available new clients to Find Accountant Pty Ltd. Liability limited by a scheme approved under Professional Standards Legislation

INDEX PROFESSIONAL SERVICES • Architect ------------------------------ 00 • Find Accountant ----------------- 34 • Financial Planning ------------- 36 • Find Insurance -------------------- 35 • Bookkeeping ---------------------- 00 • Editor|Copywriter --------------- 00 • General Insurance ------------- 35 • Life Coach --------------------------- 36 • Mortgage Brokering ----------- 36 • Signages ------------------------------ 00 • Solicitor/Lawyer ------------------ 35

TRADIES - FREE ADVERTISING Email your artwork to editor@findmaroondah.com.au If you wish us to create your ad, we will do this for a minimal cost.

Go to www.findmaroondah.com.au/graphic-design to upload your details and we will create this for you.

The Dimensions of the Ads are: 53 x 98 mm - 1/8 Small Size

139 x 96 mm - 1/4 Page Portrait

If you have any questions, contact the editor on 1300 88 38 30 or Email warren@findmaroondah.com.au *Available until your category is taken when a Tradie joins the Find Network Team.

PAGE

FEBUARY 2024 | FIND MAROONDAH 35 PROFESSIONAL SERVICES

findmaroondah.com.au

HELPING TO PROTECT YOU AND YOUR FAMILY At Find we can help you find the ‘right’ personal insurance. Our aim is to help you obtain and retain the personal insurances that are appropriate for you and at cost that you can afford.

Personal Insurances Include: • Income Protection (IP)

• Trauma Insurance or Critical Illness Insurance

• Life Insurances or Death Cover

• Business Expense Cover

• Total and Permanent Disability (TPD)

• Child Trauma Cover

When your insurance are in place, our services do not stop there. We will provide you with an after care service that includes policy notifications, insurance report, help desk, reviews and help at claim time. We provide ourselves in providing honest advice that you can rely on.

warren@findinsurance.com.au

248 Wonga Road, Warranwood VIC 3134

www.findinsurance.com.au

1300 88 38 30

Find Wealth t/as Find Insurance Corporate Authorised Representative (No.468091) of Alliance Wealth Pty LTD ABN 93 161 647 007 No. 449221

General Insurance We specialise in the following: • Business Pack Insurance • Professional Indemnity • Public Liability - Business related only

We DO NOT provide advice or quotes for the following (you need to go direct and save): • Car Insurance • Home & Contents

• Landlord Insurance • Height Safety Insurance

• Caravan • eBikes

We work with only the most reputable insurers to bring you a range of insurance options for you to choose from:

When it comes to General Insurance, Find Insurance provides a referral service to Find Business Insurance. Find Insurance provides general information only and we do not offer general insurance advice. We refer all general insurance enquiries to Craig, a licensed Authorised Representative (No. 001248230) of Focus Insurance Brokers AFSL 426797. Craig is able to provide general insurance advice to you. You should always seek professional advice before making financial decisions. This material is not intended to constitute personal advice and must not be relied on as such. This material is of a general nature only and has been prepared without taking into account your individual objectives, financial situation or needs. You should consider the appropriateness of this material having regard to your objectives, financial situation and needs and consider obtaining independent advice. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read

Visit us Here

the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan.

Australia’s Trusted Height Safety Insurance Brokers Height Safety Insurance Brokers Trust the insurance experts in covering your business against risks and losses. Let us create a specialised program for you to ensure any overlooked issues are covered. If you’d like us to handle insurance renewal get in touch with our friendly team. We also offer free assessments of your current program so you can make an informed decision for your business’ wellbeing. www.heightsafetyinsurancebrokers.com.au 0418 300 096 | sales@heightsafetyinsurancebrokers.com.au

CRAIG ANDERSON GENERAL INSURANCE

Small Business Insurance Broker is a registered business name for the Trustee for The Anderson Kerr Family Trust, (Height Safety Insurance Brokers Pty Ltd, a

ABN: 26689211803

Corporate Authorised Representative (AFS Representative Number 0012482300) of Focus Insurance Brokers AFSL 426797.

Mercantile Legal are a unique Commercial Law firm practising in all states of Australia, with offices in Melbourne, Sydney and Brisbane.

SERVICES

CONTACT US

• Debt Recovery

• Family Law

MELBOURNE OFFICE

• Litigation

• Contracts

Australia | 03 9098 8750

• Insolvency

• Will and Estates

Sydney Office

• Property Law

• Intellectual Property

Sydney, Australia | 02 9211 9980

• Restructuring

• Compliance and Governance

Level 40, 140 William Street, Melbourne,

MLC Centre, Level 57, 19-29 Martin Place, Brisbane Office Astor Centre, Level 11, 445 Upper Edward Street, Spring Hill, Australia | 0422 114 300

FEBRUARY 2024 | FIND MAROONDAH

35

PAGE

36 FIND MAROONDAH |FEBRUARY 2024

findmaroondah.com.au PROFESSIONAL SERVICES

Melbourne’s Best Kept Parenting Secret Einstein once said: “We cannot solve our problems with the same level of thingking we created them. Likewise we cannot solve our current issues for the generations today with the same thinking, rules and conditioning of the past!

Disrupt your thinking and empower yourself with a Leadership Mindset today for the generations of tomorrow! Call Now 0432 848 418

Leadership and Parenting Disruptor Lesley Banton 0432 848 418 | www.theparentwhisperer.com.au

SHL FINANCE CAN HELP WITH ALL YOUR FINANCE NEEDS •

FIRST HOME BUYERS

•

INVESTMENT LOAN

•

COMMERCIAL LOANS

•

STANDARD VARIABLE & FIXED RATE LOANS

•

HONEYMOON LOANS

•

BRIDGING LOANS

•

INSURANCE

•

DEVELOPMENT FINANCE

Get the Morthgage You Deserve reece@shlfinance.com.au 0478 021 757

REECE DROSCHER MORTGAGE BROKERING

www.shlfinance.com.au 2/3 Ringwood Street, Ringwood VIC Australia 3136

Mark has a varied work experience, including 12 years in manufacturing as a manager and 19 years as a financial planner. He uses his wide range of experience and knowledge to quickly identify the right course of action, and uses his expertise to help you solve any problems.

Areas of Expertise

Contact Details

º

WHS/ OHS

º

Manufacturing

mfelton@beaumontlawyers.com.au

º

Regulatory Compliance

º

Safe Working Practices

www.thebeaumontgroup.com.au/lawyers/

º

Succession Planning

PO Box 61, Mooroolbark VIC 3138

º

Business Management

º

Operations

03 9727 1376

MARK FELTON

As your financial adviser, I am passionate about providing quality advice and solutions personalised to your needs. I commenced my career as a financial adviser in 2018 and became an authorised representative of Alliance Wealth Pty Ltd on 13 December 2021.

I am Authorised To Provide The Following Financial Services: •

Superannuation and Retirement Planning

Other Financial Planning Services

•

Wealth Creation and Investments

•

Budgeting and Cashflow Management

•

Wealth Protection

•

Debt Management

703 Whitehorse Road, Mitcham VIC 3132

03 9872 5455

admin@findwealth.com.au

OCCUPATIONAL HEALTH & SAFETY

LOCAL TRADIES

PAGES

TRADIES - FREE ADVERTISING Are you a Tradie?

Need referrals?

Consider joining the Find Maroondah Network group.

Contact Warren for all of your Advertising needs.

Warren Strybosch 1300 88 3830 editor@findmaroondah.com.au *Available until your category is taken when a Tradie joins the Find Network Team.

INDEX LOCAL TRADIES SERVICES • Coffee Machine Machine -- 00 • Garage Doors ---------------------- 00 • Builder ----------------------------------- 00 • Electrician ----------------------------- 00 • Painter ----------------------------------- 00 • Plasterer -------------------------------- 00 • Property Maintenance ------- 00

ADVERTISE HERE

FEBRUARY 2024 | FIND MAROONDAH

37

PAGES

HOME & GARDEN

BUSINESSES Do you provide Home and Garden services in the Maroondah region?

Contact Warren for all of your Advertising needs.

Warren Strybosch 1300 88 3830 editor@findmaroondah.com.au

INDEX PROFESSIONAL SERVICES • Gutter Protection ------------------ 38 • Specialist Tree Services ------- 00 • Interior Design ---------------------- 00 • Mowing --------------------------------- 00 • Building Inspection -------------- 00 • Nursery ---------------------------------- 00 • Flooring --------------------------------- 00

HEALTH & BEAUTY

PAGES

BUSINESSES

Do you provide Health and Beauty services in the Maroondah region?

Contact Warren for all of your Advertising needs.

Warren Strybosch 1300 88 3830 editor@findmaroondah.com.au

INDEX PROFESSIONAL SERVICES • Lactation Consultant ----------- 39 • Swen Pouches ---------------------- 40 • Hair Dresser --------------------------- 00 • Chiropractor ------------------------- 00 • Beauty Therapy -------------------- 00 • Gym --------------------------------------- 00 • Massage Therapy ---------------- 00

DR JOANNA STRYBOSCH ADVANCED PAEDIATRIC OSTEOPATH & LACTATION CONSULTANT

The Melbourne Therapy Centre

PROVIDING PERSONAL & CARING SUPPORT

221 Wonga Road Warranwood VIC 3134 Phone: +61 3 98 76 3011 Mobile: +61 400 049 410 joanna@osteolc.com.au | www.osteolc.com.au

FOR YOU & YOUR BABY

OSTEOPATHY

LACTATION CONSULTING

Osteopathy in Australia is a government registered, allied health profession. Osteopaths focus on improving the function of the neuro-musculoskeletal system (bones, muscles, nerves and connective tissues) to optimise health and well-being.

IBCLC lactation consultants are recognised around the world as the experts in lactation care. They provide evidencebased knowledge to assist mothers to establish and maintain breastfeeding. As professionals, they are charged with promoting, protecting and supporting breastfeeding.

Joanna is highly qualified and experienced in the osteopathic assessment and treatment of babies and infants.

Joanna can help with a broad range of lactation consulting services, including: •

She can assist with the following assessments: • • • •

Gross motor development (milestones) Primitive reflexes Tongue function and it’s relation to sucking skills Biomechanics of the jaw and mouth

LEARN MORE

• • • •

Teaching a new mum how to hold and position her baby to breastfeed Assess the suck, swallow and breathing of an infant Assess for tongue function and determine any evidence of restriction (tongue tie) Pre and post-frenectomy breastfeeding support Help increase or decrease milk supply

LEARN MORE

FEBRUARY 2024 | FIND MAROONDAH

39

PAGES

0473 039 661 somethingsimplymade@gmail.com www.instagram.com/somethingsimplymade

HEALTH & BEAUTY

SPORTS FEBRUARY 2024 EDITION

FREE ADVERTISING

FOR YOUR SPORTING CLUBS In-Kind Sponsorship with Find Maroondah Community Paper We invite a representative from each sporting club to submit team selections, results and any interesting stories relating to your club/sports.

For more information

contact Warren on

1300 88 38 30 editor@findmaroondah.com.au

FEBRUARY 2024 | FIND MAROONDAH

41

SPORTS

FEBRUARY 2024 EDITION

2024 Player Sponsors As always player sponsors play a huge part in getting our football and netball teams out on the park or courts each week. The Norwood FNC needs your help.

We are looking for player sponsors. If you can sponsor one of our footballers or netballers please see Jess Porter, David McPhee or Colin Brush or email norwood@efnl.org. au Sponsors will have their name, logo and company info displayed in the Norwood clubrooms, on social media, our website and weekly newsletter. Plus $50 is deducted from your player's membership.

Join the Woods in 24.

Football Senior Assistant Coach Wanted Norwood Football Netball Club is in search of an exceptional Senior Assistant Coach to support our outstanding coaching panel. Whether you’re a seasoned strategist or just dipping your toes into coaching, playing or not, we invite passionate individuals to apply. At our first class facilities in Ringwood, you’ll play a pivotal role in shaping the future of our Premier Division Football side. As a Senior Assistant Coach, you’ll be key in developing talent, fostering a winning mindset, and contributing to our proud “One Club” community. Join us in this exciting journey of mentorship, growth, and making a lasting impact on the players and the Norwood family. To be a part of our success story, send your applications to norwood@efnl.org.au, marked for the attention of Mark Etherington. Join Norwood Football Club – where coaching isn’t just about the game; it’s about cultivating a legacy through talent growth and nurture.

2024 Memberships now available Membership packages for next season are now available. We’ve also introduced a new general package which covers entry to all games. Lot’s of savings in there. Show your support for Norwood and get yours today!

See the available package options below.

Contact Graeme Nicol or the committee to secure your membership.

Graeme – 0413 524 777 or fundraising2468@gmail.com Bank Details: Norwood FC BSB: 633 000 ACCT: 1460 16167 Ref: Mem – your name

See more

SPORTS

FEBRUARY 2024 EDITION

results Not the results we are after but good fight shown by the ones and 2’s.

It’s crunch time in the season with the 2’s holding on to a finals spot at the moment, big week on the track Tuesday and Thursday night.

UPDATES Our next Thursday dinner with our great friends The Acorn Bar & Restaurant is coming up on Thursday the 8th February.

Get your tickets now in the below link. Ticket sales will run until the 1st February.

Vets T20 Squad for tomorrow night game

against Bayswater Park cricket club

Lets get behind the event and support those who support us.

FEBRUARY 2024 | FIND MAROONDAH

43

February 2024

FREE ADVERTISING Religious Groups and Churches Services Times Public Notices

Maroondah 1300 88 38 30 editor@findmaroondah.com.au

Religious Groups and Churches

Do you have an upcoming events?

Place your EVENT AD here for FREE in our community online paper.

SEND US YOUR NEWS! Simply upload your ad at www.findmaroondah.com.au/nfp-free-advertising

or you can email the ad to the editor@findmaroondah.com.au and we will do the rest for you.

Hope City Church Croydon Hills Baptist Church

About us Hope City is a community partnering with Jesus to see His Church grow and

Pastoral Team Senior pastor - Andrew Harris Karen Pastor - Moo Hei NextGen Pastor - Matt Moran Worship Pastor - Leah McCormack

Services

to see people encounter God’s presence and be transformed by His Spirit

• English Sunday 10am

and Word. We look to empower every believer in God’s purpose for their

• Karen Sunday 1pm

life so that the 7 Mountains of society will be impacted by God’s kingdom.

• English Sunday 6pm

We see a Church where every person experiences the goodness of God in

Transform Pastor - Ben Dickson

their lives through energetic praise and intimate worship.

Community Engagement - Gitta Clayton Children's Co-Ordinator - Meagan Dickson Youth Co-Ordinator - Mat Weller

6 Bemboka Rd, Croydon Hills VIC 3136, Australia +61 39876 4503 | 0405 507 118

Our Online Services Sunday 10am and 6pm

51 Lusher Rd, Croydon VIC 3136 +61 39761 6778

FEBRUARY 2024 | FIND MAROONDAH

45

Religious Groups and Churches

Ringwood Church of Christ is a community of believers that love God, love others and love our community. Our services and ministries reflect a wide and generous orthodoxy, and involve people from all walks of life. We seek to live out the gospel in the city of Maroondah in practical and transformational ways.

Ringwood Church of Christ

Services 10 AM Sundays – main worship service Also streaming on Facebook Live

13 Bedford Rd, Ringwood VIC 3134 +61 39870 8169

Canterbury Gardens Community Church Our Mission Why do we exist?

We are a church that desires to be Jesus CENTERED (Galatians 2:20), to DISCIPLE (Ephesians 4:16) each other to love God and others and deploy every follower of Jesus to be on MISSION (Acts 1:8) wherever He has placed us.

Services 9:00AM service and 10:30AM family service Night service monthly 5pm

281-283 Colchester Rd, Kilsyth South VIC 3137

www.ringwoodchurch.org.au

+61 39720 7121

RINGWOOD COMMUNITY CHURCH CROYDON HILLS & WONGA PARK ANGLICAN CHURCH

Connecting People With God And One Another Services: •

9am Service at St Marks Wonga Park, cnr of Toppings Rd and Yarra Rd Wonga Park

•

Connecting People With God And One Another Services: Sunday 10 AM

Livestreamed: myrcc.co/live Activities for all - children, youth, families, adults, senior

10:39 am at St James Croydon Hills , 21-23 Bemboka

1 Tamar St, Ringwood VIC, 3136

Rd Croydon hills

(03) 9870 0102

0417679682 (03) 9876 2600

Birth, Deaths & Marriages JANUARY 2024

FREE Advertising is available related to Death Notices, Funeral Notices, Births and Marriages.

SEND US YOUR NEWS! Maroondah 1300 88 38 30 editor@findmaroondah.com.au FEBRUARY 2024 | FIND MAROONDAH

47

watch this

space! find cards are changing It is going to revolutionise fundraising and supporting local businesses.

Starbucks Card

Find Cards

BALANCE

$46.40 MEMBER STATUS

ENROLLED

NAME

WARREN STRYBOSCH EMAIL

warren@emailsample.com.au PHONE

0412 345 678

FREE ADVERTISING Religious Groups and Churches

Maroondah Send us your:

Services Times

Public Notices

FEBRUARY 2024

Simply upload your information at

www.findmaroondah.com.au/nfp-free-advertising

or you can email the ad to the editor@findmaroondah.com.au and we will do

the rest for you.

www.findmaroondah.com.au