MGI Australiasia Newsletter

MGI AUSTRALASIA NEWSLETTER Issue 8, Nov/Dec 2012

A WARM WELCOME TO ANOTHER ISSUE This is an especially warm welcome to many first time readers from the Perth-based firm, Parkinson, our newest member firm.

As many of you will remember in our last issue, on st the 1 July, we farewelled the then MGI Perth firm who left us to join Nexia International. Mal and his team have been part of MGI Australasia for a number of years and many of you will have met members from this firm at conferences and AGMs. I am delighted to announce that Parkinson, based in Hay St, Subiaco, are joining MGI with the intention of st taking on the name of MGI Perth on 1 July 2013.

This is a wonderful outcome for us as we feel that Parkinson share many common values and aspirations with the existing MGI firms.

We are looking forward to their involvement and input and hope you will take time to meet the new faces from Parkinson at next year’s events. You can get a head start by reading the interview with Parkinson’s, Sam Acquaviva, in the article entitled, Questions without notice.

Next year will be a big year for MGI. Not only will we be under the spotlight as a result of the International MGI AGM being held in Sydney in October but we also have the launch of the eighth in the series of Australian Family and Private Business surveys undertaken by the Royal Melbourne Institute of Technology University. The actual survey work is being undertaken this month.

be supporting the development of commonly valued behaviour by acknowledging one MGI person across all the firms on a quarterly basis, who has demonstrated this behaviour. Details of the acknowledgement will be shortly announced You can read more about this initiative in the article entitled Bringing the MGI Brand to Life.

We have again strengthened our relationship with Family Business Australia (FBA). Last year we undertook the sponsorship of the FBA’s New Longest Lunch. Due to operational difficulties the FBA were unable to offer a similar sponsorship for this year’s National Conference. As a substitute MGI opted to have an exihibitors’ stand at the FBA National Conference held in August in the Hunter Valley. Our stand was a huge success and provided an opportunity for firms to work together and present a unified brand. Des Caulfield, MGI Adelaide has written an overview in the article entitled Yo-yos hit the spot.

There are plenty of other interesting articles which you can read in this issue – partner profiles, international activity and updates on AGMs and conferences.

We hope you enjoy this newsletter and welcome any feedback for articles for the next edition.

These surveys have become a part of our collective MGI fabric. Strengthening this fabric is particularly important given that MGI Australasian firms are, in the majority, independent of each other. At the July National AGM we explored possible linkages between the firms in terms of what were desirable MGI characteristics, skills and behaviours for partners and staff. Although we are all independent of each other, it was easy to reach a consensus on the skills, behaviours and characteristics which the partners and directors believe are important for providing consistent client servicing between the firms.

While each firm may implement local initiatives to develop these characteristics through staff training and recruitment, the MGI Executive Committee will

Sue Prestney Executive Chairman MGI Australasia 1|Page

BUSINESS GROWTH ADVISORS

MGI PARTNER PROFILE

unfamiliarity with modern cuisine, hopefully he wouldn’t be too critical of my very average cooking If you were marooned on a desert island what one piece of music would you like to have with you and why?

“Jump Around” by House of Pain. So I’d have some motivation to get up and jump around when the boredom of a protracted time alone on a desert island sets in.

If you were marooned on a desert island what one movie would you like to have with you and why?

Rachel Easton Principal, MGI Auckland

“About a Boy”. It’s a movie I still enjoy after many viewings, which could be handy if I’m marooned for a long time and need a break from jumping around.

Why did you decide to become an accountant?

What book are you currently reading?

I remember deciding that I didn’t want to be an accountant. However I seemed to be good at accounting, so ended up in the profession by default.

Buddhism for Busy People by David Michie

If you were not an accountant what would have been your next career choice? Why?

Reading, running and learning Maori.

Psychological profiler of reality TV show contestants.

It would make good use of my Psychology degree.

What are your favourite past times outside work?

If you could have any one or any business in the world as a client who would it be and why?

What do you like about your role? Why?

Cadbury chocolate. In the hope that they’d use me as a guinea pig when testing new products.

I really enjoy considering tax issues for clients. Tax law is constantly changing so it presents a challenge and an opportunity to continually learn.

Do you follow a national sporting code? If so which one and which team?

What do you not like about your role? Why?

I follow the North Harbour rugby team. It’s a hard road being a Harbour supporter – they win about as often as the Wallabies!

Managing competing priorities and client expectations. It’s challenging trying to keep everyone happy.

What advice would you provide to recent graduates about how to become a partner?

You need to develop strong technical skills, people skills, organisational skills and the ability to manage stress.

What one person would you like to invite to your place for a meal and why?

Assuming time travel were possible, I would like to invite Socrates to dinner. I would be interested in his st views on life in the 21 century and given his



AGM 2012 – Meeting of the MGI Clan in the Land of the Reef Country ‐ Written

by Nick Moncrieff, MGI Port Pirie On the first full moon after the winter solstice the tribes of the Australasian clan of MGI were called to meet in the territory held by the FNQ tribe. All the tribes from far and wide attended, except the far west tribe that had recently been wiped out by the horrible Nexia virus. Luckily there came from the same West Lands by the River of Swans a new tribe that showed encouraging signs of wishing to join the MGI clan.

2|Page

BUSINESS GROWTH ADVISORS

The tribes gathered in the beautiful area known as Palm Cove and made their camp there by the sea.

The very next day the leaders met to discuss things of great importance to all tribes led by the current supreme leader Sue of the Cold Country by the Big Bay. The other leaders Des of the East Wood in the convict free South Lands, Nuk of Orkland on the Islands of the Long White Cloud, Matt from the Land of Harbours, Grant from the Valley of the Floods and the host tribe Big Kev from the Reef Country all gathered to share their ideas to ensure the future prosperity of the Australasian Clan.

Other important meetings were held by the different experts from the tribes. These were tasked with finding ways to deal with those that plot against us and to find new weapons that could be directed at the ATO foe. The PaperBuster and CCH guests came and demonstrated useful but expensive weapons to the gathering. The leader of the CCH and PaperBuster meeting, Rob of the East Wood in the South Lands ably led the discussions on how to better run our tribes and suggested we have more meetings as sharing such knowledge is vital to our ongoing growth and strength as a clan.

At another meeting the experts in that secret and complicated spirit world of tax met and pontificated about what was and what might be. Such is the awe in which this group is held by the other members that when their leader Brad from the Cold Country by the Big Bay explained their visions and ideas to the massed gathering we were all mightily impressed but none the wiser.

The rule makers also met and discussed the new rules handed down by the Greater Powers which must be followed by all the tribes or we could risk being struck down and forced to leave the clan.

Graeme of the Valley of the Big Floods a representative of the rule makers put the fear of the gods into us all.

At the end of the day of the meetings all the tribes met to partake of a magnificent feast prepared by the friends of the FNQ tribe. Fish and crustaceans from the sea, many fowl and a beast were slaughtered in honour of the great annual gathering. In keeping up the tradition of only the best will do, wine from the regions of the convict free South Lands was transported all that way to satisfy the thirst. For the amusement of the gathering a sporting contest was held between two famous sporting tribes, the

Maroons form the Valley of the Floods and the Blues from the Land of Harbours. In an exciting finish the Maroons star kicked the pigskin through the big white sticks to win.

A smiling Sue of the Cold Country by the Big Bay, Supreme Leader

Next day our supreme leader Sue of the of Cold Country by the Big Bay gave an in depth summary of how the clan had progressed over the past 4 years culminating with the introduction of our special guests Mike 1 and Mike 2 (also from the Cold Country) who were to lead us on the path to understanding. We all learnt much about ourselves, in particular why we should get up in the morning. Everyone was impressed by the oratorical skills of Mike 1 and the sober assessment of our needs by Mike 2.

On the morning of the third day Mike and Mike once again held us in awe of their way of thinking and knowledge, although some members of the gathering were still left wondering why we get up in the morning.

We were honoured by the attendance at our humble gathering of the head of all the MGI world clans Thierry of the far away Northern Lands. He made a great journey across the seas to share news of our fellow clans from around the world. This news was treated with astonishment by many as he told us of the grave difficulties facing these other MGI clans.

Their lack of gatherings to further themselves was greeted with audible gasps from the members. We were all very pleased to hear that progress was being made around the world to improve this unfortunate situation.

3|Page

BUSINESS GROWTH ADVISORS

Big Kev of the Reef Country made a short speech thanking all those who attended, in particular the two members of the new tribe from the West Lands by the River of Swans who had made the journey to attend the gathering.

The partners of the members at the gathering whilst not entitled to attend the meetings were extended a nd warm welcome and taken on 2 trips during the 2 rd and 3 days of the gathering. They were invited to investigate the local area and shown how the locals travel in their innovative land and water craft called a duck. On the next day they were shown how a local tribe survived in the area long before the MGI tribes had moved here.

Some members of the gathering were taken to a special location where they played a complicated game which involved using various stick to hit little white balls into extremely small holes that were placed in very difficult places all around the area. The winners of this game were Nick Hill, Gil Levy, Christine Levy and Darren Smart.

Doug the Grey from Orkland

In the evening all the members and their partners gathered in the huge communal eating house to enjoy once more the wondrous array of food and drink on offer from the FNQ tribe. A special moment was the recognition of the elder from Orkland Doug the Grey and his lovely partner Annette.

The gathering ended with much hugging and kissing and a few tears as all the tribes headed off back to their respective lands, all hoping to see each other next year.



CYPRUS ‐ More than a strategically placed island – Written by Nick Francis, MGI Auckland Occupying a strategic position at the crossroads between Europe, Asia and Africa, the island of Cyprus was the location of MGI’s 2012 International AGM. Hosted by the firm of MGI Gregoriou, one hundred delegates from seventy-four firms attended the three days of professional learning, discussion around the future direction of MGI and international networking.

For the six Australasian delegates it was a pleasure to escape the clutches of our late Southern Hemisphere Spring but the opportunity to enjoy 30 degree days and endless sunshine was limited to tea breaks and lunches. The AGM programme was packed with international speakers, strategy debates and regional updates.

A former chairman of Interbrand, London and Vice Chairman of Saatchi and Saatchi, Rita Clifton’s presentation on Why your brand is important? was particularly relevant to our activities in Australasia.

We are the only region in the MGI group where the MGI brand is actively promoted through activities such as our relationship with Family Business Australia (FBA), the MGI family and private business surveys and our advertisements in FBM. The firms in Australasia are also the only group of firms who use MGI as their collective name.

Rita’s presentation covered many of the world’s leading companies such as Apple, BMW, Google and Microsoft and their use of logos in advertising. Her argument was there is a lot more that goes into building a brand than just the use of your logo. To be a leading brand Rita argued that you need to have clarity of purpose, consistency across the whole client experience and leadership in taking your brand forward.

“We were seeking for employees but people turned up instead”, a quote by Anita Roddick of Body Shop fame, is particularly relevant to us. The consistency of our client experience is so important to building the MGI brand and can be impacted both positively and negatively by how we interact with clients. Ensuring a consistent client experience is one of the challenges which we as independent accounting firms are currently facing both nationally and internationally.

4|Page

BUSINESS GROWTH ADVISORS

The presentation of each MGI regions success stories is always a highlight of the AGM. It is a chance for the AGM delegates to hear about what is happening in each region and to gain a better understanding of the challenges that need to be overcome to strategically grow MGI internationally.

A major initiative for MGI is the adoption of the recommendations contained in the much debated document A New Competitive Strategy for MGI developed by Clive Bennett, International Marketing Director, and Thierry Delvaux, CEO, MGI International.

The International Executive Committee agreed to provide extra support to the Asian region for two years. Audrey Danasamy, the Asian Regional Coordinator along with Pallavi Dinodia from the Indian firm, S.R. Dinodia have been not only very active in engaging with the existing regional members but also in trying locate new ones – which is not an easy task due to MGI ‘s quality membership standards.

In summary, the objective of the competitive strategy is to leave the brand marketing activity at the level of the local firms (ie there is little point in developing an international MGI marketing campaign) but for MGI International to develop an online quality assessment system.

Delegates (left to right) Pallavi Dinodia, Asian MGI International Executive Committee Member and Audrey Danasamy, Asian Area Co-ordinator

Presented by Grant Field, MGI South Queensland, the Australasian success story was our ability to undertake activities at a national level as a result of our use of single brand across the region.

There was also plenty of opportunity for delegate networking. However the highlight was an evening in a local taverna where delegates enjoyed typical Greek Cypriot food and local wines. The entertainment included people performing local dances and an incredible feat by one man who was able to build a single stack of 22 glasses, partly filled with water, balanced on his head while walking around and bending down on his knees to receive more glasses - Laura Field, Grant’s daughter assisted magnificently with glass number 19.

All in a line Greek dancing followed – some participants a little more elegant than others.

Our thanks go to Andreas Gregoriou and his team for hosting a very successful International AGM. Editor’s AGM Postscript MGI’s current Chairman, John Repetti of Graf Repetti and Co, New York, US has announced that as of the st 1 January 2013, his firm will be known as MGI Repetti. This is a very big step for MGI US where due to perceived legal issues firms do not use MGI in their practice titles. Since 2008 MGI Australasia has been pioneering the use the MGI prefix in the names of our firms. The rest of the MGI family is starting to understand that there indeed many benefits that come from sharing the one name and brand.



BRINGING THE MGI BRAND TO LIFE Grant Field, MGI South Queensland presenting our success story

In April 2008 MGI Australasia launched the use of the international MGI brand in our client communications such as letterheads, websites and business cards.

Concurrently we also made the decision, despite 5|Page

BUSINESS GROWTH ADVISORS

each firm being independently owned, to incorporate MGI as part of our name. These two important strategic decisions have enabled us to implement national marketing activities such as the MGI Australian Family and Private Business Surveys and our advertisements that appear in the Family Business Magazine (FBM).

After four years of actively promoting our services and the MGI brand to family businesses in the region, this year’s national AGM provided an opportunity for directors and senior managers to reflect on what lies beneath the MGI brand and how this impacts the MGI client experience. The MGI client experience is more complex than clients just seeing our MGI blue logo and reading the tag line – Business Solutions Worldwide. The way we all interact with our clients makes our brand a living experience - a positive experience develops consumer loyalty which in turn results in a more valued MGI brand.

employing over 230 people - 230 individuals who will have different client communication and interaction styles.

In recognition of trying to create a client experience that is consistent and seamless regardless of which firms provides the client advice, the purpose of this year’s AGM was to peel back the layers on how we conduct ourselves and communicate with clients. The aim was to develop a list of behaviours, skills and experience which are valued and encouraged as ”The Right Stuff” for how MGI wants to present itself to the external world.

A list was developed at the AGM and this was further refined by a working party, consisting of senior managers and directors, tasked with culling the suggestions down to a definitive list of the MGI’s “right stuff”.

So what is included on the list?

Similar to the tip of an iceberg, the MGI blue logo represents about 10% of what makes up the MGI brand. The other 90% comes from the way MGI people communicate and behave in the world around them. This includes every MGI client interaction– from the way we answer the phone through to the accuracy, efficiency and quality of our client advice.

Every time we communicate in some way with a client, the ATO, business bankers, lawyers, and the general community we either positively or negatively impact the value of the MGI brand.

Research conducted by Interbrand, a world leading group of advertising agencies, has found that to build a successful and enduring brand your organisation needs to exhibit three characteristics: -

Leadership in your target market – think of Google and Amazon; Clarity of purpose of what you do – think of Coca Cola and Louis Vuitton; and Consistency across the whole client experience – think of McDonalds and Apple.

Obviously we are still building our brand but MGI promotes leadership of our brand and clarity of our purpose in the family business market through marketing activities such as our relationship with Family Business Australia and the MGI Family and Private Business Survey series. However building consistency across our client experience is more challenging because we are nine individual firms

Skills – Technical competency, constructive communication, business sense/commercial acumen and creativity Characteristics – Confidence/ability to deliver, positive attitude, empathetic towards others, practical and takes responsibility Behaviours – Team player, strong work ethic and dedication, clear thinking, respectful and organised While each firm will work on incorporating this list on a local level into their individual cultures, there was recognition that something could also be done at the Australasian level to celebrate people who exhibited the “right stuff”.

As a result “The Right Stuff” award has been born.

On a quarterly basis each firm will be invited to nominate people in their office who demonstrated one or more of these skills, characteristics and behaviours in their daily MGI life. The firm nominations will be sent to the MGI Australasia’s Executive Chairman Sue Prestney who in consultation with the MGI Australasian Executive Committee will decide on the person to be recognised in that quarter.

More details will be available shortly as to how this recognition process will work.

For those of you interested in finding out why we are calling this recognition “The Right Stuff” you may like 6|Page

BUSINESS GROWTH ADVISORS

to read Tom Wolfe’s book of the same name about the life of United States Air Force pilot, Chuck Yeager. Chuck broke the sound barrier in 1947. Or for a quick update Google him to find out about his amazing life and career.



CAN TRUSTS BE TRUSTED? 2012 NATIONAL TAX INTENSIVE – Written by Melissa Smith, MGI Sydney

A short morning tea break followed with sunshine flowing in the large windows making the City of Sydney looked very inviting.

After morning tea Stuart Glasgow, MGI Melbourne, volunteered his time to present at the Tax Intensive.

Stuart presented a paper that Gil Levy had previously written and presented at the Taxation Institute’s 20th National Tax Intensive Retreat. Gil was unable to present the paper to us as the culture, history, food and wine of Italy had enticed him abroad (lucky him!).

The paper entitled Expanding the family business – structuring and restructuring the expanding business, provided on some interesting insights into trust splitting, the effect of converting equity portfolios into trading stock and Everett assignments.

After Stuart’s presentation it was time to refuel the body and the mind with lunch. We were all able to mingle in the foyer and enjoy a light lunch and catch up with those we did not get to speak to in the morning. Some took this opportunity to go for a quick explore of the hotel surrounds.

Sydney had the honour of hosting the MGI National Tax Intensive this year, with MGI delegates coming from near and far to attend. It has been five years since Sydney hosted the first ever National Tax Intensive for MGI - how time has flown and it is great to see that our enthusiasm for tax has not faltered.

The Amora Hotel, Jamison was most welcoming in accommodating our conference, with the conference room lay out allowing for open discussions and questions.

After a welcoming introduction from MGI Sydney’s, Matthew Moy, the conference kicked off at the reasonable hour of 9.30am with a presentation from Mr Robert Allerdice of The Taxation Institute. His informative discussion was around Section 254T of the Corporations Act 2001 and the implications of Taxation Ruling 2012/5 with respect to the assessment of franking of dividends paid from 28 June 2010. The overall conclusion reached in our discussion was that the scope of the ruling may be limited but did have some attributes to be welcomed.

Perhaps there will soon be further amendments to the Corporations Act in this area.

Lynne Gibson from Tax Banter, a regular presenter to the Sydney team, started the discussions around trust streaming which would continue for the remainder of the day. The question was raised whether trusts are still the correct structure going forward. We were led through the new developments in the area of trust streaming including case law, new legislation and relevant tax rulings. Important lessons that we took away were a must to always, always read the trust deed, prepare trustee resolutions correctly and effectively and beware of the new labels at item 64 and 65 of the 2012 tax trust tax returns.

Following another food and coffee break Andrew Noolan of Schurgott Noolan Pty Ltd gave what could only be described as a “vibrant and energetic” presentation on trust streaming. Andrew provided further insight into the streaming provisions and challenged us with questions. I am sure we would all like to say that we are now experts on trust streaming having two presentations on the topic in one day.

However it is definitely a difficult topic to digest.

This concluded the first day’s formal proceedings and we all retired to our rooms to relax before dinner (I think some may have “retired” directly to the bar).

That evening, we all headed off on a short walk towards Circular Quay to the Ocean Room for dinner.

7|Page

BUSINESS GROWTH ADVISORS

The Ocean Room is truly a gourmet destination with expansive views of the iconic Opera House which we all enjoyed. Superb food, good wine and lively conversation followed for the next couple of hours.

Afterwards a few ventured out to find the night life in Sydney.

After a full buffet breakfast, Day 2 of the conference began with John Hyde Page taking us through case studies on withholding tax and its usefulness in tax effective structures. This left us all thinking whether we should get in contact with MGI Austria.

Pigliardo, were invited to attend the 2012 National AGM held in Palm Cove to allow everyone to get to know each other warts and all.

The warts could not have been too bad as despite everything Parkinson decided to join MGI and will be using the MGI brand and MGI Perth name in the not too distant future.

Parkinson’s office is situated in Hay St, Subiaco which is about 4 kms from the Perth CBD. The following interview is with Sam Acquaviva.

After another coffee and some mini meat pies (especially ordered by Matthew Moy), Lynne Schneller and Emma Atherton from The Tax Institute research team led us through some practical examples of how to best use the available search engines on the internet to do tax research and find particular articles we may be looking for. The general consensus was do not use the search engine on the ATO website when doing research!

What is the history behind Parkinson?

The close of proceedings saw some head to the airport to return home while others chose to stay for the weekend.

How would you describe the firm today?

The MGI Sydney team made the MGI National Tax Intensive another success this year and should be congratulated for putting on a great event. We are all looking forward to next year which will be hosted by MGI Melbourne.



QUESTIONS WITHOUT NOTICE TO OUR NEWEST MEMBER ‐ PARKINSON Making the decision to join an accounting network is momentous and once your firm has made this decision you then need to find a network that is appropriate to the growth needs of your firm and your client servicing aspirations.

In July this year the then MGI Perth firm made the decision to join Nexia International leaving a vacancy in Perth for a firm to join MGI. Sam Acquaviva, a partner at Parkinson contacted MGI as a result of reading in the media about the then MGI Perth’s planned move to Nexia. After preliminary discussions and a MGI visit to the Parkinson firm, Sam and a fellow partner, Sam

The original firm started in 1948 when Bob Parkinson, CA, commenced as a sole practitioner. In 1979 Tony Stefanoff purchased the practice from Bob Parkinson. A year later he was joined in the practice by Lindsay Stagoll. Lindsay is still very active in the firm today in his continuing role as a partner of the firm.

We are a medium-sized firm in the Perth market. We have five partners, 20 professional staff and 5 administration staff.

We typically try to provide services to SME clients including larger family groups turning over between $2 – 20 million. We also work with high net worth individuals.

What are the areas of expertise for Parkinson?

Tax and Business Services Our Tax and Business Services Division is designed to meet all client business and compliance needs.

We have extensive experience preparing tax returns, financial statements and providing tax advice across a wide range of industries from individuals to large companies.

Audit Services We provide audit services for companies, not for profit organisations and trust accounts.

Financial Planning We provide superannuation, retirement planning, estate planning, insurance and investment advice.

8|Page BUSINESS GROWTH ADVISORS

Superannuation We provide advice on establishing Self Managed Superannuation Funds (SMSF) and assist with Rollovers. We attend to all compliance issues (accounting, tax and audit), provide SMSF consulting advice, pension planning and all superannuation related administrative functions.

Litigation Support Services We have extensive experience in providing litigation support services to the legal industry. We offer Expert Witness Reports, Business Valuations, Calculations of Economic Loss, Analysis of Reports and Financial Information.

Valuation Services We provide valuations for acquisition or disposal of a business, succession and retirement strategies, asset protection and insurance and disputes and litigation.

Company Secretarial and Advisory Services The Corporate Advisory Services offered encompass all aspects of ASIC compliance, advising on roles and duties in relation to the Corporations Act and / or company’s constitution.

Our services also include acting as company secretary as required.

felt the MGI network met all of our criteria and was a good fit with our own practice What does Parkinson hope to get from its relationship with MGI? We hope to forge an on-going business relationship (and friendships) with the members of the group. We hope to strengthen our own practice by being nationally and internationally affiliated. We also hope to create new business networks and strengthen our non-core service offerings business for example such as audit.

Do you have any observations so far about MGI? Well my observations so far are: The network is very structured and things seem to get done and there is a genuine willingness for members to help other members within the group. So far the MGI experience has been particularly positive!



YO‐YOs HIT THE SPOT – Written by Des Caulfield, MGI Adelaide For the second year in a row, MGI was represented at the Family Business Australia’s (FBA) National Conference held in the Hunter Valley on 23 – 25 August.

The FBA is the peak body for family owned businesses. Our involvement with the FBA is an important plank of the MGI Australasia marketing strategy. Not only has MGI been represented at the last two conferences but MGI also provides advertising and editorial for every issue of FBM which is circulated to FBA members

A welcoming smile at Parkinson

What factors influenced your decision to join MGI? Prior to joining the network we were seeking to join a strong national network with like minded professionals who were in our market and with whom we were able to share knowledge and ideas. Upon meeting many of the members at this year’s AGM we

As well as attending FBA networking events MGI staff have also undertaken the FBA’s advisor training.

This year’s conference proved to be an excellent promotional and branding opportunity for MGI with our expo booth being located in arguably the best spot at the conference – directly opposite the main entrance to the meeting room and alongside the morning and afternoon tea area. So it was hard to avoid the MGI stand which was proved by our steady stream of visitors.

At the last year’s expo booth we organised a wine tasting to encourage people to visit us. This year we organised a tasting of Haigh’s chocolates (Haigh’s is 9|Page

BUSINESS GROWTH ADVISORS

a very successful family- owned business located in South Australia and a member of the FBA.) However it was the MGI yoyos which were definitely the real ice breaker as they made it very easy to attract delegates’ attention and to engage in conversation with the delegates. It seems that everyone could remember their school days spent with Cocoa Cola yoyos and wanted to revisit their past.

Special thanks goes to Matt Moy and Melissa Smith, MGI Sydney for their sterling job in putting the expo together and manning the stand for conference.

Thanks also to Angela Robins and Maree Caulfield, MGI Adelaide for their effort in manning the stand and as well as attending three of the social events.

We are all looking forward to the conference next year to be held in Tasmania.



FOR A JOB WELL DONE Sue was recognised by the ICAA for her career achievements and contribution to the accounting industry by awarding her with a Meritious Service Award. This award recognises outstanding service to the profession and in particular to the ICAA. In the 84 year history of the Institute there have been only 81 recipients of the award, of which only 7 have been women.

The MGI brand is definitely out there with a lot of current and next generation family business members – or at least that was the excuse that many delegates used for taking multiple yoyos.

MGI sponsored a session on the Saturday morning presented by Ian Elliot from the well known advertising agency, George Patterson on the subject of branding. His session was generally considered to be the best session of the conference.

Sue Prestney obviously has high recognition within the Family Business Community as there were many enquiries about her. Lucio Dana (of RMIT University and one of the researchers behind the MGI Australian Family and Private Business Survey 2010) was extremely impressed by our booth and he spoke with great enthusiasm about our hot sheets that we had on display.

The event provided us with an opportunity to obtain some good business leads and has certainly cemented our recognition in the family business community.

Our involvement in the Conference was organised by three MGI Australasian firms and was a great example of how by working together we are able to achieve more than as individual firms.

Sue Prestney, MGI Australasia Chairman and Principal, MGI Melbourne has been a long time supporter of Australian family businesses and actively works in promoting her unique approach to family business constitutions and succession planning. Sue is the national spokesperson for the Institute of Chartered Accountants of Australia on small and medium business issues, and is regularly interviewed in the press, radio and television. She also writes the monthly Enterprise column for Charter magazine. She was a Victorian State Councillor of the ICAA from 2000 to August 2004.

Sue is also the author of The ABC of GST which was listed in BRW's Top 10 Business Titles in April 2000, and The ABC of BAS. More recently Sue wrote The Family Business Succession Guide which provides a practical approach to family business succession planning.

Sue has had articles published in various publications on family business, taxation and preparation of businesses for sale. She is also a contributing author to Thomson Reuters Australian Tax Practice’s Financial Planning Handbook. She has given presentations on family business succession planning, buying and selling businesses, and taxation for various organisations, both in Australia and overseas.

10 | P a g e

BUSINESS GROWTH ADVISORS

NEW BEGINNINGS

MGI SYDNEY AUDIT POWERS AHEAD

July saw a flurry of activity for MGI Sydney but not of the accounting variety. Moving from Level 9, 16-18 O’Connell St to their new location of Level 5, 6 O’Connell St, MGI Sydney has also undergone a major interior design face lift.

MGI Sydney are building on their audit strength through the appointment of two new members to their team. We would like to welcome Brian Wheeler and Warrick Downes to MGI Australasia.

With a ninety year celebration now completed MGI South Queensland has been busy with the launch of their new website. Make sure you check out the MGI South Queensland URL www.mgisq.com.au

Brian Wheeler is a Director of MGI Sydney Assurance Services. He is a registered company auditor with extensive experience in auditing a broad range of companies from small to public groups. He also has extensive experience in statutory and other audits, corporate advisory, reports private company and valuations with Alternative Investment Market – UK (AIM) listings.

The second member of the new team is Warrick Downes. Warrick is contracting with MGI. With over over 40 years experience in Australia and Papua New Guinea, Warrick has extensive audit and assurance experience in professional practice in a wide variety of small and large companies and not-for- profits.

MGI International www.mgiworld.com has recently launched a new website to promote MGI to clients and to other potential member firms.



 11 | P a g e BUSINESS GROWTH ADVISORS

ACADEMIC EXCELLENCE BY MGI ADELAIDE AND MGI SYDNEY

WELCOME TO MGI…..

MGI Adelaide  Michael Samorukoff MGI Melbourne  Andrew Lindungan  Alison Tindall  Blake Rogers

Angela Robins who is a Director of Taxation and Business Services, MGI Adelaide, has recently been granted Family Business Australia (FBA) Advisor Accreditation. Angela is the first MGI Australasian person to obtain accreditation.

MGI South Queensland  Helen Ivanitska  Daniel Edwards  Brendan Priest  Chris O’Reilly  Penelope Riggs MGI Sydney  Brian Wheeler  Philip Keegan  Sivashna Chetty  Warrick Downes



AND CONGRATULATIONS ON ICAA/CPA MEMBERSHIP MGI Adelaide  Nick Hill  An-Ti Lyu  Emily Crouch Maree Caulfield, who is also a Director of Taxation and Business Services in the same firm, completed her Masters of Taxation from the University of NSW in June. She achieved the outstanding academic record of distinctions in all her modules.

Congratulations to both Angela and Maree for undertaking and completing these studies while working full time. A remarkable effort!

We are also pleased to announce that Chris Best has received a Merit for his latest CA subject Management Accounting and Analysis.

A Merit puts Chris in the top 5% of candidates in Australia. This is the second successive Merit that Chris has achieved (he has only done two subjects).





IMPORTANT DATES 2013 Tax Summit TBA (Feb/March) Future Leaders 19 – 20 April, Brisbane Managers Conference 31 May, Auckland, New Zealand National AGM 17 – 19 July, Melbourne International AGM 16 – 19 October, Sydney

 Editor’s Note If you would like to provide any feedback or ideas for further articles, please contact Christine Greiser: (03) 9521 3000 or christine.greiser@mgimelb.com.au

12 | P a g e BUSINESS GROWTH ADVISORS