	INFOCUS
		ONLINE

Volume 4 - Issue 1
April 2006

Looking to the future

These days, opportunities are available to us that previous generations could not even dream about. For many people, the key is setting goals and planning accordingly. We all need to consider our financial futures. Successful retirement income does not “just happen”. Proper planning can improve the effectiveness of your savings and leave you free to enjoy the better things in life. In this issue of InFocus Online, we examine some of the options available for those planning for their retirement.

There are however, many in our community for whom opportunities like these are virtually non-existent. Open House, our client InFocus this issue, seeks to help some of Melbourne’s most disenfranchised people. Their emphasis is on helping people to change from negative to positive attitudes. This is done by building friendships and encouraging them towards change. Open House look to the future by changing the present.

Client Infocus

Open House was founded in 1971 to “provide an alternative to the pub because home is like hell.” It is a place where the marginalised and disenfranchised people in our community can feel welcome.

“Why is our community breaking down?” This is the question asked by Open House on the front cover of their introductory pamphlet. They go on to state that the results of community breakdown are isolation, tension and aggression, family disintegration, drug dependency and suicide. For 35 years, Open House has sought to directly address these issues in the lives of Melbourne’s disenfranchised, disadvantaged and vulnerable people.

Investment market update

We will be running an Investment Market Update seminar at 6:30 pm on Thursday 27 April. Our presenter, Karyn Jones from Perpetual Investments, will discuss many issues of interest to serious investors.

Making the most of opportunities

The third seminar in our February series looked at remuneration planning. We bring you a few options that were discussed.

This is a very extensive topic. Our Remuneration Planning seminar looked at several topics that should be considered when planning for the future. In this article, we present superannuation, allocated pensions, splitting of superannuation contributions and salary packaging.

Read the March Count Report including articles on:

		Give your child a head start and avoid the taxes
		Changing jobs or facing redundancy
		Share trading - buy, sell or hold
	Read the report

Finding lost super

A few minutes on the internet might result in a very pleasant financial windfall.

The ATO website includes a very useful facility to enable taxpayers to search for lost superannuation. Superannuation becomes “lost” when a member moves jobs or addresses and forgets to notify their super fund. In such a case, the fund is required to notify the ATO that the member cannot be traced.

If you wish to see if there are superannuation monies belonging to you that you are unaware of, visit the SuperSeeker page on the ATO website.

Transitioning to retirement pensions

People over 55 can make considerable tax savings by using a non-commutable income stream.

A new initiative enables people over 55 to make considerable tax savings. It forms part of the Federal Government’s platform aimed at encouraging older workers to remain in the workforce. Known as the Transition to Retirement Pensions measure, it uses non-commutable income streams (NCIS) to allow taxpayers to draw down from their super fund while continuing to work after they turn 55.

Cash Management Trusts

If you are looking for security, flexibility and at-call access to your money at a better interest rate than a standard bank account, then consider a Cash Management Trust (CMT). Through our association with Count Financial Limited (licensed dealer in securities), we can help you to establish a CMT to meet your requirements. Features of the CMTs that Saward Dawson can assist with include: telephone access, online access, BPay, direct credits, direct debits, periodical payments, bank cheques, cheque deposits via mail, ATM access, EFTPOS, Australia Post giroPost and personal cheque books.

If you would like to know more about setting up a CMT for you or your business, please contact Vicki Adams.

Around the firm

We recently completed our February series of three breakfast seminars and were very pleased with the attendances and comments. The first one explored the Government’s new IR laws known as WorkChoices. The second seminar looked at Victorian legislation changes that will affect how much land tax must be paid by trusts that own land. The final in the series looked at remuneration planning issues including salary packaging and superannuation. We have more seminars planned and will keep you informed. (Our Investment Market Update will be held on Thursday 27 April)

Simon Dinèr, known to many of our taxation clients, became a father for the second time. Simon and his wife Susan celebrated the safe arrival of a baby daughter, Violet.

We have several new starters since Christmas. Ingrid Fong and Tristan Heron have recently completed their university studies and joined our Audit team. Laura Bagulho has also commenced in the Audit team as Administrative Assistant.

Katelyn Nixon recently commenced in our Tax team as a cadet.

Disclaimer This publication has been prepared on the basis of information available at the date of preparation. The information is general in nature and is not to be taken as substitute for specific professional advice. We recommend that our advice be sought on specific issues prior to acting on transactions affected.