B2B magazine MAY 2015 issue 104 by B2B magazine

B2BMAGAZINE.COM.AU

MAY 2015

104

Hong Kong INTERNATIONAL IT FEST 2015

a b b u H a b b u H IN HONG KONG

IMPROVING WORKPLACE PRODUCTIVITY

TESTAMENTARY TRUSTS UNPACKED

STATE OF THE TERRITORY SHOWS POSITIVE SIGNS AHEAD

RSM BIRD CAMERON

DOBINSON DAVEY CLIFFORD SIMPSON

CHIEF MINISTER ANDREW BARR

$4.95 inc. GST ISSN 1833-8232

9 771833 823005

IS YOUR BUSINESS READY FOR SUPERSTREAM? SuperStream is a government reform aimed at improving the efﬁciency of the superannuation system. From 1 July 2015 super contributions must be made electronically to the nominated superannuation fund whether that be an industry / retail fund or a self-managed superannuation fund. If your business employs staff there’s a lot of change for employers to manage and be aware of as these changes come into effect as of 1 July 2015. Hear from our experts in this complementary session on everything you need to know for your business.

WEDNESDAY 27 MAY 10.30, 3.00 & 5.30 RSM BIRD CAMERON, Level 1, 103 – 105 Northbourne Avenue Canberra

RESERVE YOUR SPACE NOW. Email Jodie Moore on Jodie.moore@rsmi.com.au with your name, company, phone number and preferred session time. Or call (02) 6217 0317 to reserve your space.

With RSM Bird Cameron you really are… Connected for Success.

CONTENTS

PUBLISHER'S NOTE

THE LUCKY COUNTRY. ‘Australia is a lucky country, run by second-rate people who share its luck.’

TIM BENSON Publisher

This is the full sentence written by Donald Horne in his commentary of Australians in the 1960s titled, ‘The Lucky Country’.

Australia has certainly come a long way since the 1960s, where we were riding on the sheep’s back, Australia’s cultural cringe and the White Australia Policy. Horne was suggesting that Australians suffered from a lack of innovation and enterprise and that we were, in effect, lazy. Things have changed somewhat since the 1960s but we are still heavily reliant on ‘digging stuff up and shipping it off’, as well as land and property related industries. We think that we are a very sophisticated, modern and tech savvy society, and in many ways we are. However, we are developing much more slowly (and in isolation) from many countries in the world that are racing ahead with the new industries of the 21st Century. Of course, the wonderful thing about modern technology is that it allows much less developed countries to jump major steps in development and have the most advanced technology in the world right now. In fact it could be less advantageous, technologically, to be an advanced country today because we have so much invested in our current technologies. Australia needs to look ahead to a time in the not-too-distant future when a desktop computer is just a thing that ‘mum and dad had’, no one watches free to air television, taxis are a thing of the past and Wi-Fi is fast and free. Ideally, a time when all consumption is taxed, and income and company taxes have all but disappeared because of global trade and freedom of movement. Hong Kong I was very fortunate to recently be hosted by the Hong Kong Special Administrative Region Government as part of their sponsored journalist programme for the Hong Kong International IT Fest 2015. Hong Kong is an example of a country that is racing ahead in the 21st Century, embracing China and developing industries of the future (feature pages 14 – 19). Send all comments to: editorial@b2bmagazine.com.au

14 COVER STORY B2B IN HONG KONG INTERNATIONAL IT FEST 2015, HUBBA HUBBA

CONTENTS

FEATURE

10 RSM Bird Cameron Chartered Accountants Improving workplace productivity

23 BANKING Will a pool leave you swimming in cash, or drowning in debt? by ANZ Mobile Lending

12 Testamentary trusts unpacked – A ball of play dough Dobinson Davey Clifford Simpson Lawyers

23 CORPORATE GOVERNANCE Workforce Diversity by Australian Institute of Company Directors

UPFRONT 06 Project Independence celebrates second site 06 Super body advocates 12 per cent 08 Scrapping super safety net may cost business $1.8 billion 08 Improving legal services for Canberra's disadvantaged

09 Federal Member for Canberra Gai Brodtmann

14 B2B in Hong Kong Hong Kong International IT fest 2015 Hubba Hubba in Hong Kong

G2B: GOVERNMENT TO BUSINESS 28 CHIEF MINISTER'S MESSAGE State of Territory shows positive signs ahead

ADVICE FROM THE EXPERTS 21 ACCOUNTING Building a property portfolio by RSM Bird Cameron Chartered Accountants 21 WEALTH CREATION Asset allocation by Dixon Advisory

ISSN 1833-8232 LEGAL NOTICE

A2B: ASSOCIATIONS TO BUSINESS 30 CANBERRA BUSINESS CHAMBER New leadership at Canberra Business Chamber BUSINESS NETWORKING

22 BUSINESS ADVISORY Family Law and insolvency – not strange bedfellows by Vincents Chartered Accountants

26 INTELLECTUAL PROPERTY Legal issues to consider when starting a business by Arete Group

27 WEBSITES Save your website from Mobilegeddon! by Synapse Worldwide

COVER STORY

24 FAMILY LAW Relocation of children following separation by Dobinson Davey Clifford Simpson Lawyers

26 RECRUITMENT When it's time to leave, leave well by Hays Recruiting

PROFESSIONAL PROFILE

24 DISTRIBUTION LOGISTICS Digital versus Offset printing by National Mailing & Marketing

22 BUSINESS LAW It's time to Go… bringing business relationships to an end by Bradley Allen Love Lawyers

32 B2B @ Canberra Business Chamber Press Club State of the Territory 34 B2B @ Rebel Muse Opening Braddon

EDITOR / PUBLISHER

PUBLISHED BY

Tim Benson editorial@b2bmagazine.com.au 0402 900 402 02 6161 2751

Man Bites Dog Public Relations ABN 30 932 483 322 PO Box 4106 Ainslie ACT 2602 b2bmagazine.com.au

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advertising@b2bmagazine.com.au 0402 900 402 02 6161 2751

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DESIGN

PHOTOGRAPHY

Amber Gale amber.gale@manbitesdog.com.au 0400 402 960

Manuel Galaktidis evendots.com.au

Andrew Sikorski art-atelier.com.au

Man Bites Dog Public Relations (‘MBD’) owns the copyright in this publication. Except for any fair dealing as permitted by the Copyright Act 1968 (Cwth), no part of this publication may be reproduced without the prior written permission of MBD. MBD has been careful in preparing this publication, however: it is not able to, and does not warrant that the publication is free from errors and omissions; and it is not able to verify, and has not verified the accuracy of the information and opinions contained or expressed in, or which may be conveyed to readers by any advertisement or other publication content. MBD advises that it accepts all contributed material and advertisements contained in this publication in good faith, and relies on various warranties and permissions provided to it by the persons who contribute material and/or place advertisements. Those warranties and permissions include that neither the material and/or advertisements are misleading, deceptive or defamatory, and that their use, adaptation or publication does not infringe the rights of any third party, or any relevant laws. Further, MBD notifies readers that it does not, nor should it be understood to endorse, adopt, approve or otherwise associate MBD with any representations made in contributions and/or advertisements contained in the publication. MBD makes no representation or warranty as to the qualifications of any contributor or advertiser or persons associated with them, and advises readers that they must rely solely on their own enquiries in relation to such qualifications, and be satisfied from those enquiries that persons with whom they deal as a result of reading any material or advertisement have the necessary licences and professional qualifications relating to the goods and services offered. To the maximum extent permitted by law, MBD excludes all liabilities in contract, tort (including negligence) and/or statute for loss, damage, costs and expenses of any kind to any person arising directly or indirectly from any material or advertisement contained in this publication, whether arising from an error, omission, misrepresentation or any other cause.

s e t a l u t a r g n o B2B c a terrific n o F M I C 5 1 0 2 n i l a v i t s fe

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UPFRONT ACT Crime Statistics

Project Independence celebrates second site

onstruction has commenced for the 2nd Site of Project Independence at the Latham site in Wanliss Street. Project Independence is a not-for-profit initiative building housing in Canberra that provides independent living and home ownership for people living with intellectual disabilities. The Board of Project Independence along with Minister for Disability Joy Burch and Minister for Housing Yvette Berry celebrated with potential residents, community and corporate supporters, disability organisations and parents on 23rd April 2015. It is envisaged that the first residents will be living in the Latham and Harrison residences by the end of the year. Speaking at the event, Minister Burch said the site was a great location.

Super body advocates 12 per cent

here is emerging discussion that superannuation tax concessions need to be more efficient and better targeted to deliver a sustainable super system. The Federal Labor Opposition in April highlighted the growing discussion around the need to put super tax concessions on a fairer footing. Tax concessions on earnings for retirees are growing at more than twice the rate of the age pension. It has been argued that there must be recognition of the compulsory nature of super and the need to ensure all Australians whether on low, middle or higher incomes continue to be incentivised to save for retirement. Further debate has underlined that changes made to the current system be

“The close proximity to shops and transport will enable the development of a community but also foster independence for its residents.” Project Independence Director David Hill has a long history of supporting the ACT Disability Community and was touched that interstate organisations travelled so far to attend the event and show their support for the project. Glenn Keys, Master of Ceremonies, ACT Australian of the Year and Director of Project Independence, said those involved in the project had been overwhelmed by the expressions of interest so far. “This proves there is high demand for such a project within the community,” Mr Keys said.

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measured and objective-driven, and they should acknowledge interactions with the personal tax system and age pension. Industry Super Australia (ISA) says that savings made from changes to super taxation settings should be reinvested in the super system in the form of retaining the Low Income Super Contribution (LISC) or equivalent measure, and accelerating the increases in the super guarantee to 12 per cent. ISA believes these proposals will bring certainty for investors and ensure the system delivers for working Australians. Nonetheless, benefits paid from the super system to members are now double the cost of the aged pension and are estimated to have reduced pension costs by 5 to 6 billion dollars per annum.

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According to the latest crime statistics from ACT Policing, reported crime in the ACT is down by 4% over the past year. The largest increase in was a 36.7% increase in Weston Creek, while the largest decline was a 22% fall in Gungahlin.

Changes to Mr Fluffy Draft Territory Plan The ACT Government has proposed changes to the Territory Plan. Draft variation 343 would allow Mr Fluffy blocks in the RZ1 zone larger than 700m2 to be subdivided, such that two houses can be built on the same block.

Unemployment Rate Down The Labour Force publication from the Australian Bureau of Statistics (ABS) shows that the unemployment rate fell 0.1 point to 6.1%, while the participation rate remained at 64.8% in March. In the ACT, the unemployment rate remained at 4.4%, while the participation rate fell 0.1 point to 79.1% over the month.

Building Activity Falls The recent ABS publication Building Activity found the total value of building work done fell by 1.4% over the quarter in the ACT.

cso.org.au CSO concerts offer a unique and prestigious experience providing unparalleled opportunities to develop valuable relationships with staff, and current and potential clients. Each CSO partnership is a bespoke package, tailored specifically to meet the needs identified by each partner. We don’t have set ‘plans’; we have an amazing product, innovative ways of associating with it, and a genuine desire to ensure that alignment with the CSO becomes a key element in your business development strategy. To align your organisation with Canberra’s premiere arts organisation, write to partnerships@cso.org.au or visit cso.org.au.

LLEWELLYN SERIES

SATURDAY SERIES

/01 SIBELIUS 1 & 2 APRIL SCHUBERT The Magic Harp Overture ˇ DVORÁK Cello Concerto SIBELIUS Symphony No. 5

/01 SHELL PROM, GOVERNMENT HOUSE 14 FEBRUARY A Touch of Tartan Featuring favourites such as Scottish Fantasy, Danny Boy, Hebrides Overture and more.

Nicholas Milton Conductor* Edward King Cello /02 TCHAIKOVSKY 6 & 7 MAY MATTHEW HINDSON Boom Box TCHAIKOVSKY Piano Concerto No. 1 RIMSKY-KORSAKOV Scheherazade Nicholas Milton Hoang Pham Piano

Conductor*

/03 BRAHMS 19 & 20 AUGUST KODÁLY Dances of Galánta SIBELIUS Violin Concerto BRAHMS Symphony No. 4 Nicholas Milton Conductor* Andrew Haveron Violin /04 RACHMANINOV 4 & 5 NOVEMBER MÁRQUEZ Danzón No. 2 RICHARD MILLS Soundscapes: for percussion and orchestra RACHMANINOV Symphonic Dances Nicholas Milton Conductor* Claire Edwardes Percussion

Guy Noble Conductor Anna Da Silva Chen Violin /02 ACTEW GRAND GALA 4 JULY Puccini Featuring favourites from Puccini, Wagner, Verdi & more. Nicholas Milton Conductor* Eva Kong Soprano James Egglestone Tenor /03 CANBERRA WEEKLY MATINEE MAGIC 26 SEPTEMBER In the Mood music from the ‘big band’ swing era Featuring favourites such as Little Brown Jug, In the Mood, Chattanooga Choo Choo and more. Timothy Sexton Conductor Rachael Beck Soprano *Artistic patronage of Nicholas Milton courtesy of ActewAGL

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P RP O U F RF O I LN ET

Scrapping super safety net may cost business $1.8 billion

mployers are increasingly concerned at the red tape cost of selecting workplace super funds for their employees from an unranked list of 120 MySuper funds. The selection process, set to impose a financial and legal burden on employers, is estimated to cost $1.8 billion nationally according to new research, falling most heavily on small businesses. David Whiteley, Chief Executive of Industry Super Australia (ISA), says that more than eight million Australians don’t choose their own super fund and rely on their employer to place them in a high performing fund. “These funds are selected in a meritbased process overseen by the Fair Work Commission (FWC). “We support the FWC process of applying a ‘quality filter’ to short-list the best performing funds for employers.

“The FWC process puts competitive pressure on the super industry to deliver strong investment returns, provides a safety net for employees’ retirement savings and cuts red tape for employers. “It removes the cost and guesswork for employers and ensures the vast majority of Australians who don’t actively choose their own fund are placed in a high quality, safety net fund,” Mr Whiteley said. A practice that is being jointly scrutinised by APRA and ASIC, bank owned super funds are lobbying the government to scrap this process in order to bundle business banking services for employers with super arrangements for employees. “In 2014, the banks attempted to remove consumer protection for people needing financial advice. In 2015, they are attempting to remove consumer protection for more than eight million workers who do not choose their own super fund,” Mr Whiteley said.

Improving legal services for Canberra’s disadvantaged

ttorney-General Simon Corbell has this month launched the newly named Canberra Community Law, previously known as the Welfare Rights and Legal Centre. The centre, serving the most disadvantaged in the community, has changed its name to recognise the diversity of services on offer. “The name change and the associated new website will modernise the image of the centre and better convey the service’s close connection with the community,” Mr Corbell said. “The service remains committed to providing accessible, high-quality legal assistance to the community.” Canberra Community Law provides a range of services including the Disability Discrimination Legal Service, Social Security and Tenancy Service, Street Law, the Night

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Time Legal Advice Service and the Social Worker Pilot Project. As well as providing professional development opportunities for its staff, Canberra Community Law is also strongly committed to the development of young lawyers in the ACT. “Together with the Women’s Legal Centre and the Tenant’s Union, Canberra Community Law forms the basis for a strong community legal centre sector,” Mr Corbell said. “Last year the three community legal centres relocated to their new premises and wasted no time in strengthening collaboration efforts to ensure Canberrans are provided high quality and client focused services. “I commend Canberra Community Law for its foresight to seek ways to better target the community, the most vulnerable and their needs.”

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Lending Finance Mixed The ABS publication Lending Finance shows that Housing finance for owner occupation rose by 0.5%; Personal finance fell by 0.2%; Commercial finance was down by 1.0%; and Lease finance increased by 4.1% in February.

New Motor Vehicle Sales Up The Sales of New Motor Vehicles publication by the ABS shows that sales of new motor vehicles increased by 1.8% over the month in the ACT. The report found that new motor vehicle sales rose by 0.5% nationally in March.

Consumer Sentiment Falls The WestpacMelbourne Institute Index of Consumer Sentiment fell by 3.2% in April, down from 99.5 to 96.2. Westpac says the upcoming Federal Budget is partly to blame for lower confidence.

Business Confidence Up The National Australia Bank Monthly Business Survey shows that the Business Confidence index rose, from a net balance of 0 to 3, in March.

ADVERTISING FEATURE

Above: Federal Member for Canberra Gai Brodtmann at work as Shadow Parliamentary Secretary for Defence, wearing a dress by Canberra brand Zilpah Tart.

Shop local

olitical fashion - some might say it’s an oxymoron. But late last year a group of Parliamentarians got together and decided that we needed to do more to support the local fashion industry, and so Parliamentary Friends of Aussie Fashion was born. A challenge was put out to all MPs and Senators to wear locally designed and made clothes for an entire sitting week. Thankfully for me the sitting week chosen coincided with fete season here in Canberra, and I discovered some wonderful local fashion from Rockstars and Royalty, Zilpah Tart, Adelina La Vita and others at school fetes, as well as at the Handmade Canberra store. The challenge was a little more difficult for my male colleagues, but many succeeded wearing locally designed and made ties and suits for the whole week. Many also dutifully took off their shoes to prove they were Australian made when questioned. The challenge was a huge success, gaining national media attention and much-needed

promotion for many local designers. Not since Paul Keating’s Zegna suits has there been this much focus on pollies’ attire! At the heart of the week-long challenge was a message I try to live by everyday: shop local. Whether it be my campaign t-shirts, annual Christmas card or electorate wide mail-outs, I take every opportunity to buy Australian made and to use local printers and manufacturers. And I do so understanding that at times this means I pay more. But in my opinion, this is a small price to pay to know that my patronage is helping keep jobs in the region. I know that there are many Canberrans who feel the same way that I do and are happy to pay a little extra to support the local economy. After all, we Canberrans are incredibly proud of our city and of the immense talent we have here. In the face of the growing trend for online shopping, campaigns to promote shopping locally and shopping small are taking off, not just in Parliament but across the country. Canberra businesses should

capitalise on this sentiment and embrace their inner ‘Canberraness.’ While the rest of Australia may think of Canberra as a ‘Government theme park’ the fact is we have a thriving private sector across a broad range of industries - from fashion, to technology, to agriculture. Let’s promote our products as made, designed, produced or grown in Canberra and let’s encourage our community to shop local.

For information: Gai Brodtmann MP Federal Member for Canberra Shadow Parliamentary Secretary for Defence phone: 6293 1344 email: gai.brodtmann.mp@aph.gov.au post: 205 Anketell Street, Tuggeranong, ACT 2900 www.gaibrodtmann.com.au

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F E AT U R E

Improving workplace

roductivity in the workplace is affected by a number of different things. Being aware of common barriers to productivity in the workplace, as well as engaging with advice on how to boost your productivity to above average levels, can be extremely beneficial to your business outcomes. Here are five things that all businesses should be thinking about: 1. Motivating Staff More motivated staff equate to a more productive company. Adequate remuneration is an important factor

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in job satisfaction (and staff retention). However, there are a lot of other important contributors to job satisfaction, including an appropriate system of reward and recognition. Ensuring that workplace complaints are heard and seriously considered is another significant factor in staff motivation. Additionally, increasing individual accountability for tasks will improve work ethic and increase people’s sense of achievement. 2. Expanding Skill Sets There are a lot of advantages to rotating employee tasks wherever possible. Your staff will develop a more diverse skill set, people will feel that they are making career

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progression and it will increase employee engagement. Assigning one staff member as a trainer or mentor to others who will be learning skills from them is a great way to demonstrate your confidence in someone, while simultaneously giving you an opportunity to evaluate their leadership skills before a promotion. 3. Digital Organisation With so many workplaces having become paperless it is now easy to feel that your office is an organised environment. However, digital clutter can be an issue when servers and hard drives become a disorganised mess. If staff have difficulty locating documents or programs this can be a significant barrier to

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productivity productivity. Additionally, it creates a sense of disorder that can impact their perception of management. Organising the company’s digital work place, and encouraging individual staff members to be similarly organised, can go a long way in improving your productivity. 4. Productivity Software There are a lot of new productivity software products and apps that are designed specifically for the workplace. Some of these are even created for specific industries and/or roles. Examples of helpful software products or apps include digital time trackers, to do lists, productivity monitors and project management software. Remaining aware of new workplace productivity software,

especially if it is an industry specific development, will ensure that you maintain your competitive edge. If you do go ahead with purchasing productivity software, ensure that you provide staff with adequate training in using it. 5. Scheduling Communication Returning phone calls and responding to emails is not just time consuming, it can also be extremely bad for employee productivity. Constant interruptions break people’s concentration and can be very distracting. By encouraging your staff to have specific times each day that they return phone calls and emails you can improve the productivity and concentration of your staff.

Bird Cameron

Chartered Accountants

Should you have any questions, please contact Andrew Sykes, Director RSM Bird Cameron on andrew.sykes@rsmi.com.au or 02 6217 0333 rsmi.com.au With RSM Bird Cameron you really are... Connected for Success

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F E AT U R E

Testamentary trusts unpacked – A ball of play dough By Brendan Cockerill

hat is a testamentary trust? Testamentary trusts have been used in estate planning for many years, but what is a testamentary trust? I like to think of it as a ball of play dough that can be moulded to suit any person’s circumstances. At its simplest, it is a gift in a Will to a beneficiary who is under the age of 18 when the Will maker dies. At its most useful, it is a tailor made trust with specific provisions included in a Will. The common theme is that it is a trust created via a Will. In this article and when most lawyers, accountants and financial planners refer to testamentary trusts they are referring to the latter. Under a Will without testamentary trusts, a beneficiary over the age of 18 receives their inheritance directly in their own hands. The beneficiary must include any income earned on the investment of the inheritance in their taxable income and pay tax on the income at their marginal tax rate. The inheritance also forms part of the beneficiary’s pool of personal assets which are available for distribution in the 12

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event of relationship breakdown or bankruptcy. By contrast, the creation of a testamentary trust involves a gift to a trust, with the trustee holding the inheritance on trust for a number of potential beneficiaries, usually family members or related entities, who are identified in the Will. The trustee can be the principal beneficiary or a trusted independent person or an independent organisation or any combination of those. Sound complicated? Probably, so why do so many advisors recommend them? The main reasons are flexibility, taxation benefits, asset protection and beneficiary protection. Flexibility Most Wills containing testamentary trusts include a provision allowing the primary beneficiary to elect, usually subject to appropriate conditions, not to take their inheritance via the trust. The benefit of such an approach is that it allows the beneficiary to have his or her cake and eat it too. There is usually (hopefully!) a time lag between the deceased signing their will and their death. The beneficiary is empowered to make the decision

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on whether or not to take their inheritance via a trust after the deceased’s death, rather than when the Will was made. It is important that the Will is structured to allow the beneficiary to “opt out” rather than “opt in”. The trustee of a testamentary trust has the discretion to distribute the income and capital of the trust between the potential beneficiaries. So, it is the trustee who has the ability to decide how the inheritance is dealt with. This decision can be made based on the individual circumstances of the potential beneficiaries after the Will maker’s death. Tax benefits As stated above, the trustee of a testamentary trust has the discretion to distribute the income of the trust between the potential beneficiaries. So, the trustee can minimise tax by splitting the income earned on an inheritance between a number of beneficiaries, just like a family trust. However, the tax laws provide a significant concession on income paid from testamentary trusts to beneficiaries under the age of 18 that is not available in relation to family trusts. When a

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“It’s play dough, you can decide how it is moulded! The terms of the testamentary trust can be tailored to suit your goals and the needs of your intended beneﬁciaries.” beneficiary under the age of 18 receives income from a testamentary trust, they are taxed on that income as if they were an adult and enjoy the adult tax free threshold (currently $18,200) and adult marginal tax rates. The potential tax savings can be significant. Asset Protection If a beneficiary separates from their spouse and is involved in family law property proceedings, a properly structured testamentary trust can help keep the beneficiary’s inheritance separate from the relationship property pool. As a result, the inheritance could be quarantined from a claim by the separated spouse and preserved for the intended beneficiary. A number of professions and business activities expose people to potential personal liability. An appropriately structured testamentary trust can provide important protection for your intended beneficiaries. The assets within the testamentary trust are segregated from a beneficiary’s personal assets and can be protected if a beneficiary gets into financial difficulties or becomes bankrupt.

Beneficiary Protection Sometimes, even with the best guidance, some children can go “off the rails”. Others suffer sickness or disabilities that prevent them from managing their own affairs. In either case, testamentary trusts are a great way of managing these risks and ensuring that the beneficiary is protected from adverse outcomes caused by them or others. A testamentary trust can set out directions about how income or capital is to be managed and applied e.g. the provision of accommodation for the primary beneficiary or controls on income distributions. What are the options? It’s play dough, you can decide how it is moulded! The terms of the testamentary trust can be tailored to suit your goals and the needs of your intended beneficiaries. They work best when the Will maker is willing to discuss their proposed Will with their intended beneficiaries. If a potential beneficiary has spent their working life structuring their affairs for asset protection, the last thing they want is for an inheritance to fall outside their structuring and be exposed to risk.

How can DDCS Lawyers help? DDCS Lawyers has dedicated estate planning lawyers who are experienced in tailoring testamentary trusts to suit the specific needs of the Will maker and their beneficiaries.

Brendan Cockerill is a Senior Associate of the firm. 18 Kendall Lane, New Acton, Canberra phone (02) 6212 7600 mail@ddcslawyers.com.au, www.ddcslawyers.com.au

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COVER STORY

Hong Kong INTERNATIONAL IT FEST 2015

a b b u H a b b Hu IN HONG KONG

Words and Pictures: Tim Benson 14

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COVER STORY

Hubba hubba

2B magazine recently attended the International IT Fest 2015 in Hong Kong. Editor and publisher of B2B, Tim Benson, attended IT Fest as a sponsored guest of the Hong Kong Economic & Trade Office in Sydney, representative office of the Hong Kong Government in Australia and New Zealand. The International IT Fest featured a series of events to provide a platform for the Information and Communications Technology (ICT) industry to share insights with the Chinese Mainland and overseas experts. The inaugural IT Fest was held in April 2013 with 25 ICT events. The second edition in 2014 featured a total of 38 events covering a wide range of ICT domains in which HK is developing fast, such as cloud computing, startups, information security, mobile technology, the Internet of Things, digital entertainment and digital inclusion. Now, The International IT Fest 2015 brings together over 50 ICT events, including the annual signature event, the Hong Kong ICT Awards 2015 Awards Presentation Ceremony, which recognises outstanding local IT applications and solutions; the International ICT Expo, which is the largest of its kind in Asia; and a series of seminars, symposiums, conferences, competitions, award presentations, recognition schemes, exhibitions and fun fairs. For more details on International IT Fest 2015, please visit www.itfest.hk.

in Hong Kong

Miss Joey Lam, Deputy Government Chief Information Officer, Office of the Government Chief Information Officer, Hong Kong Government, wants Hong Kong to be the hub of all hubs – a tourism hub, an IT hub, an intellectual property hub, in fact ‘a hub economy’. And why not, isn’t Hong Kong the gateway to the largest economy in the world – China? Since 2013 Hong Kong has consolidated its ICT awards and festivals into the International IT Fest. In 2015 it is bigger and better with 51 events, almost doubling since its inception. Joey says that the main objective for the Hong Kong Government is to ensure that

ICT is more widely used and contributes to social and economic growth. “The three main objectives are to encourage the exchange insight, competition and networking,’ Joey explained. One of the ways they are achieving this is to publish ICT advertorials, in Chinese, so it is not possible to provide an English link unfortunately. “We are in a digital age and a shared economy, through businesses such as Uber, crowd funding, crowd sourcing. ICT has blurred international boundaries,” Joey stated. According to Joey, Hong Kong is a great place to do ICT business because of the sound legal system, the free economy, the

low regulatory threshold, low tax regime – and most importantly, close proximity to the Chinese mainland. “We want to be a smarter city,” Joey said. And Hong Kong is well on its way with mobile phone usage sitting at 240 per cent. In addition to this, Hong Kong is steaming ahead with a number of major ICT projects including: • Public Wi-Fi access • e – health records • Smart ID cards; and • E cheques. Hong Kong is also creating a new industry where intellectual property rights can be traded. Hong Kong is an amazing place, full of wonderfully creative people, it will become the hub of all hubs.

Miss Joey Lam, Deputy Government Chief Information Officer Office of the Government Chief Information Officer, Hong Kong Government

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COVER STORY

1000 plus Hong Kong students set world record for collective coding At the opening ceremony of the 2015 Hong Kong International IT Fest, over 1000 students set a world record for collective coding – and they did it by recreating Hong Kong in Minecraft. The International IT Fest 2015 commenced at the Hong Kong Central Harbourfront with a five-day Hong Kong Digital Life Carnival where members of the public experienced the latest digital products, wines and food. The Inter-School IT Elite Challenge has over 130 schools participating, and 36 IT exploration tours for secondary students to visit IT facilities and renowned technology companies in Hong Kong to learn more about the local ICT industry and stimulate their interest in IT. “This year’s International IT Fest will focus on public participation, with an aim to enhance public understanding of

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the convenience and benefits that can be brought by technology developments and the joy of ‘digital life’,” Hong Kong Secretary for Commerce and Economic Development, Mr Gregory So, said. These events cover a wide range of ICT domains in which Hong Kong is developing quickly, such as cloud computing, startups, cyber security, mobile technology, the Internet of Things, digital entertainment, e-learning, digital inclusion and more, together presenting a showcase of interactive Hong Kong. Benson wins grand award at Hong Kong ICT Awards 2015 The Hong Kong ICT Awards 2015 celebrates the achievements of the Hong Kong Information and Communications Technology (ICT) sector. Benson (no relation) Chiu, Founder & CEO of nBition Development, received the Award of the Year, the highest accolade at the Hong Kong ICT Awards 2015. Chiu

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is a self proclaimed ‘open-minded geek’, a technical co-founder, has eight years of experience in software and hardware engineering and is a previous employee of Microsoft, IBM, CIBC, and founding start-up in Silicon Valley. ‘Arist’, an innovative coffee machine that can make the perfect espresso coffee from your smartphone, is one of the latest ICT inventions. The Arist coffee machine brews coffees from the world’s top baristas with the click of a button. Before you judge this decision, be aware that Benson has raised $845,139 US on crowd finding site Kickstarter, and has 26,000 pre sales at $699 US each. There were 972 entries for this year’s Awards - one Grand Award was awarded in each category and an Award of the Year selected from the 10 Grand Award winners. The winners in the 10 categories are as follows: 1. Best Business Solution Grand Award: TFI Digital Media Ltd HERMES OTT Platform

This platform is a solution for TV broadcasting to deliver content through the Internet and via an Over-the-top (OTT) device connected to a TV set. It is also commonly referred to as InternetTV. Compared to traditional terrestrial broadcasting (Over-the-air), OTT broadcasting offers low geographical limitation. To offer the service, it does not need a license from the government. Two-way interaction between user and the content source is supported. 2. Best Digital Entertainment Grand Award: Centurysoft International Ltd. 3 Fruity Kingdoms

COVER STORY

“3 Fruity Kingdoms” is an Action-RolePlay-Game (ARPG) which is developed on the prototype of the cute version of the popular animation character of “Fruity Robo” in Mainland. Riding on the background of “Three Kingdoms”, the actor, Pineapplello, is a terminator determined to wipe out his enemies and accomplish his missions. 3. Best Digital Inclusion Grand Award: Buddhist To Chi Fat She Yeung Yat Lam Memorial School and collaborating schools. SAME E-enhanced Learning, Teaching and Assessment System

A Joint-school project for developing an e-learning platform, SELTAS aims to help students with special education needs to learn effectively within the framework of the general curriculum. The targets are students studying in special schools and students with special education needs in mainstream schools. 4. Best ICT Startup Grand Award: Nbition Development

Formed from the middle letters of ‘barista’, the Arist name brings barista style coffee into every home. Arist sets itself apart from all other coffeemakers, with its smartphone interface, precise customisable functions, elegant simplicity as well as a cloud platform where baristas can share their “coffee recipes” with users to establish a coffee community. It is the first coffeemaker that provides complete control over every single step in the brewing process, from adjusting the grind size to fine-tuning the pressure. 5. Best Innovation Grand Award: Dragon Creative Enterprise Solution Limited MAD Glass

MAD Glass is a smart glass which includes the functions of a smartphone. It can make phone calls, text messages, send multimedia to contacts, access personal digital assistant, play media, use GPS navigation, run thirdparty applications, take photos or record videos, web browsing, use Wi-Fi and pay online, etc. 6. Best Lifestyle Grand Award: Penana Ltd. Penana - The Social Publication Platform for Story Showcasing and Collaborative Creation

Penana is a social network designed for showcasing and sharing creative stories

and fiction. It makes writing and creating a fun, collaborative, and social experience, in contrast to the traditional perception of ‘boring’ and ‘lonely’. Utilising many popular concepts in social networking, it makes use of the latest UI/UX and backend framework technologies to incorporate a modern, story centric, user-friendly user experience design platform. 7. Best Mobile Apps Grand Award: TeamNote Ltd. TeamNote

TeamNote is a cloud based mobile collaboration tool which helps corporations unleash the productivity of their mobile workforce and maximise work efficiency via the easy-to-use features that mobile technology brings about. With TeamNote, users are able to make better decisions; coordinate more efficiently with colleagues; react more quickly to changing conditions; and manage complex tasks more effectively. 8. Best Smart Hong Kong Award: Axon Labs Ltd. HKBus+

HKBus+ is an information platform offering comprehensive public transportation information in Hong Kong, covering buses, mini-buses, MTR, ferries and trams. It combines the open data released by the HKSAR government as well as data collected from the Internet to offer the most comprehensive and up-to-date information to the users. 9. Best SME ICT Grand Award: Play More Ltd. Team More Enterprise Communication Platform

The solution provides a common platform for daily communication among

over thousand users in the enterprise. It consists of nine ready-to-use modules for different communication needs, such as news dispatch, product catalogue, document cloud storage, on-the-go training, event calendar sharing, social platform, e-form communication, e-newsletter publications and enterprise messenger. 10. Best Student Invention Grand Award: Wong Yiu-nam/Wong Chungpak of Shun Tak Fraternal Association Yung Yau College. MindFootPrint

For people encountered accidents and chronically ill patients, their situation can hardly be discovered, so that they cannot receive the immediate relieves or rescues. Most likely, their consequences are suffering from a serious sequel and even causing to death. An effective health monitoring (with location tracking) will be a key to help us to secure our lives. The Hong Kong ICT Awards were established in 2006 with the collaborative efforts of the industry, academia and the Government. The aim is to build a locally recognised and internationally acclaimed brand of ICT awards in Hong Kong. Over the years, the Awards have effectively served as a springboard for local ICT innovations to make inroads into the international arena. This year’s Hong Kong ICT Awards created a new award category, Best Smart Hong Kong Award, to encourage the development of “smart” applications and solutions for “Smarter Hong Kong, Smarter Living” in line with the vision set out in the new Digital 21 Strategy. Detailed information about the winners and the 10 award categories are available on the website of the Hong Kong ICT Awards (www.hkictawards.hk).

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COVER STORY

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COVER STORY

Cyberport is Hong Kong’s hub for ICT startups They don’t do things by halves in Hong Kong. For example when it comes to incubating and encouraging information and communications technology (ICT) startups – there is Cyberport. Cyberport is home to four grade-A intelligent office buildings, a five-star design hotel, and a retail entertainment complex – and is a creative digital community with a cluster of over 300 technology and digital tenants. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong SAR Government. “We have a vision to be the leading ICT hub in the Asia-Pacific region,” Karen Wu, Cyberport Senior Manager Corporate Communications, said. Cyberport aims to nurture ICT industry start-ups and entrepreneurs, drive collaboration to pool resources and create business opportunities, and accelerate

ICT adoption through strategic initiatives and partnerships. The Entrepreneurship Centre at Cyberport also offers two very generous, non-repayable grants to local and international entrepreneurs – yes, Australian entrepreneurs, can be, have already been and currently are, recipients. 1. Cyberport Creative Micro Fund

The Cyberport Creative Micro Fund Scheme is a seed fund set up to encourage innovation and creativity by sponsoring high potential creative and innovative start-up projects or business concepts in ICT-related areas. A grant of HK$100,000 in cash will be awarded to the successful applicants in a 6-month project period for proof of concepts and for developing prototype products. There are 2 types of CCMF, with the same vetting requirements, catered for aspiring entrepreneurs at different lifestages and target markets. They are 1) the Hong Kong Programme and 2) the Cross-Border Programme(s).

2. Cyberport Incubation Programme

The Cyberport Incubation Programme supports the development of the Hong Kong ICT industry by providing incubated companies with access to advanced facilities and resources, support in business development, financing & hiring of graduate interns, as well as entrepreneurship and technology training. Financial assistance or reimbursement of up to HK$530,000 will be made to incubated companies in a 24-month incubation period for jump starting their business. Cyberport is an ultra-hip and modern facility for those wanting to start and nurture an ICT idea into a business. “We are designed to work with our ICT businesses – they work 24 hours around the clock on an idea – so do we. We understand the drive, commitment and passion entrepreneurs have for their businesses,” Karen said. To find out more about Cyberport visit: http://www.cyberport.hk

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ADVICE 21 21 22 22 23 23 24 24 26 26 27 20

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ACCOUNTING

Building a property portfolio by Rhys Kyburz, RSM Bird Cameron Chartered Accountants

WEALTH CREATION

Asset allocation by Robert Turner, Dixon Advisory

BUSINESS ADVISORY

Family Law and insolvency â&#x20AC;&#x201C; not strange bedfellows by Tony Lane, Vincents Chartered Accountants

BUSINESS LAW

It's time to go. . . bringing business relationships to an end by Mark Love, Bradley Allen Love Lawyers

BANKING

Will a pool leave you swimming in cash, or drowning in debt? by Kylie Peden, ANZ Mobile Lending

CORPORATE GOVERNANCE

Workforce Diversity by Phil Butler, Australian Institute of Company Directors

DISTRIBUTION LOGISTICS

Digital versus Offset printing by Peter Terho, National Mailing & Marketing

FAMILY LAW

Relocation of children following separation by Chloe Curran, Dobinson Davey Clifford Simpson Lawyers

INTELLECTUAL PROPERTY

Legal issues to consider when starting a business by Shaun Creighton, Arete Group

RECRUITMENT

When it's time to leave, leave well by Jim Roy, Hays Recruiting

WEBSITES

Save your website from Mobilegeddon! by Sam Gupta, Synapse Worldwide

ACCOUNTING

by Rhys Kyburz

Building a property portfolio

Two of the most common questions we get asked as accountants are: 1. What is involved in building a property portfolio? 2. What are some tax advantages of property and how do you maximise them? The media regularly features amazing tales of rags to riches landlords with fat property portfolios, particularly during expansion or boom phases of the property cycle. You can find countless books like “0 to 130 Properties in 3.5 years” in any bookshop. While it is possible to build a large portfolio quickly, the reality for most investors is usually very different. So what does it take to build a property portfolio and which strategy best suits the current market conditions? Stick to the Fundamentals Unfortunately there is no rocket science behind property investing, despite what some high price seminar sellers will tell you. Property strategies do not change throughout the property market cycle – the profit is always in the buying. Buy value and you will always do well. This strategy does not change just because the market has altered. The only change you should make, as an investor, is when the market is buoyant – it is at these times that you can more easily identify undervalued areas and buy selectively. This is because a more active market is easier to analyse and provides better comparative data Our research and discussions with clients indicate that the key to building value in a portfolio is to choose only suburban locations with very high land values. High land values are those where house prices are underpinned by perpetual strong demand and importantly, where demand always exceeds supply. Why high land values? This is because buildings depreciate and land does not. Proximity to the CBD is what drives demand. Concentrate on suburbs that are within 2 – 12 kms of the CBD, regardless of the city in which you are looking to buy. These are guiding principles to selecting an investment property and they are fundamental irrespective of the number of properties you own or the state of the market. A good real estate agent can help you identify properties that meet your investment criteria and this is a key part of the property selection process. Rhys Kyburz is director of the Business Solutions Division with RSM Bird Cameron. Specialising in the areas of business advisory and taxation, this includes advising on income tax, GST, land tax and stamp duty. Rhys has a wealth of experience with a mixed portfolio of commercial, and not for profit sector clients, including professional associations and clubs.

WEALTH CREATION

by Robert Turner

Asset allocation

The importance of asset allocation Asset allocation can be one of the most significant performance drivers for your investment portfolio, but it can be difficult to determine the right mix of assets classes to invest in without access to quality research, insights and specialist advice. So, what is asset allocation? Asset allocation is basically the division of your investment portfolio across different asset classes such as cash, fixed interest, property and shares. As each asset class carries different risks and varying potential for income and growth, spreading investments across a number of different asset classes can help you to maximise returns while mitigating risk. The asset allocation approach In today’s global economy, it’s wise to use a top-down approach when you set your target asset allocation. This requires careful consideration of economic and political factors that may affect the outlook and risk for asset classes already employed as well as the potential for opportunities in new asset classes. It’s important to understand what factors are driving each asset class, what risks may cause underperformance, and the likelihood of these occurring. On an ongoing basis, economic factors need to be monitored and allocations adjusted to take advantage of asset classes that are likely to perform well in the future. At times, there may be a particular asset class that is performing well and it can be tempting to buy more rather than keep your portfolio positioned for the long term. However, as this year’s best performing asset class is seldom next year’s best performer, it’s vital to remain disciplined and review your portfolio relative to your target asset allocation to protect from volatility and underperformance. Aligning assets with aspirations Developing the right asset allocation requires a personalised approach—what works best for you will depend on your objectives and tolerance for risk. That’s why at Dixon Advisory, we provide tailored advice to match the risk profile and investment goals of our clients while also taking into account current and future market changes. We know the way we position your assets in your portfolio is a key driver of long term wealth creation and capital security. If you feel you might be overexposed to a single asset class or would like to understand more about our asset allocation approach, please contact me on 1300 264 485. Dixon Advisory provides comprehensive advice across a breadth of asset classes including cash, fixed interest, emerging market equities, US residential property and Australian commercial property.

Bird Cameron

Chartered Accountants

For further information, please contact Rhys Kyburz, Partner, RSM Bird Cameron on 02 6217 0369 or rhys.kyburz@rsmi.com.au.

If you would like to find out more information, contact Robert Turner on 1300 264 485.

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BUSINESS ADVISORY

By Tony Lane

Family Law and insolvency – not strange bedfellows

BUSINESS LAW

by Mark Love

It’s time to go… bringing business relationships to an end

“…In this world nothing can be said to be certain, except death and taxes.” So said Benjamin Franklin in his famously quoted phrase regarding a fledgling American Constitution. However, fledgling relationships, be they domestic or commercial, rarely take into account such matters – particularly if by ‘death’ we think in a more expanded way about the ‘end’ of that relationship. So, just as in commercial disputes, a skilled insolvency specialist can have a positive influence on outcomes for the separating parties in a matrimonial relationship that is at its end. At the outset it is important to recognise that all parties to such scenarios have their distinct and valuable roles – it would be folly for instance to suggest that the roles of family lawyers could be performed by other less-qualified experts. However, as an additional resource available to separating parties and their representatives, an insolvency specialist skilled in managing and protecting valuable assets can, and often does, play a pivotal role in maximising outcomes. How? Many times simply by being the independent dispassionate party at the table. In the same way as an advocate for the voice(s) of children may be engaged, so too can the insolvency specialist be an advocate for a company or business that is caught up in the maelstrom. The heightened emotional states of the separating parties many times draws their focus away from issues critical to the maintenance of ongoing trading, profitability and saleability of business assets. Indeed an independent expert focussed solely on the commercial issues at play often enables the parties to address other concerns, safe in the knowledge that a ‘watching brief’ is in place to protect their relative interests. Of additional benefit to the parties is that it is possible to engage in these types of strategies without the need for a formal ‘insolvency’ appointment. This reduces cost, publicity and complexity whilst still maintaining, as much as possible, the matrimonial asset pool for the benefit of those in whom it will vest. As always, one of the many keys to success is realising that there are limitations to what is possible. Identifying issues early, as in any commercial matter, will be of distinct benefit to a separating couple where a business structure is involved. By doing so, the range of options for value preservation is maximised and the ‘death’ as it were, need not take on quite so lifeless a pallor.

Business relationships; when they’re good, they’re great, reaping financial rewards and mutual benefits for all parties involved. But what about when they’re sour, and what was once a productive working relationship becomes a burden? As we approach the end of the financial year, now is the time to take stock of your existing contracts and consider - how do you go about terminating contractual relationships? Absent a mutual agreement between the parties to walk away, or an intervening event that renders the contract undeliverable, your first port of call is always your contract – that document will usually set out any pre-existing termination rights and the steps required to execute it. Where that’s the case, it’s crucial that these steps are followed to letter; make sure you comply with any and all notice periods and/or dispute resolution requirements. Choosing to end a contractual relationship whilst ignoring the contract has considerable risk. A failure to end the relationship properly may invalidate your termination, render you in breach of your contract and leave you open to a claim for damages. But what if your contract doesn’t deal with your particular issue or dispute, or worse, has no termination provisions at all? Are you locked in? Absolutely not; there are myriad ways to terminate a contract and many of these won’t appear in your written terms and conditions. First, consider whether there has been a breach – has the other party failed or refused to perform an obligation? Second, how serious was that breach? If the other party has failed to perform a fundamental obligation (i.e. pay), or an intermediary obligation with sufficiently serious consequences, then you will likely have a right to terminate and walk away. But this right is limited and you need to act quickly and with care. Delays, equivocation or a failure to exercise a right to termination could mean that you lose that opportunity altogether. If you’re stuck in a contract you’d rather not be in and you are unsure about your termination rights, we recommend seeking professional advice sooner rather than later. When it’s done right, termination can ensure all parties are free to walk away, released from all further obligations and sometimes with the benefit of compensation. Often, termination can be as simple as serving a written notice, and getting early advice on your options can help you avoid drawn out disputes or costly negotiations.

Tony is a Senior Manager at Vincents Chartered Accountants and provides specialist advice to clients in the areas of insolvency, business risk and financial conflict and dispute resolution. For more information, contact Vincents, Level 7, AMP Tower, 1 Hobart Pl, Canberra City. T: 6274 3400 F: 6274 3499 E: tlane@vincents.com.au W: www.vincents.com.au

Mark Love, Legal Director, Business Law 9th Floor, Canberra House, 40 Marcus Clarke Street, Canberra ACT 2601 E: mark.love@bradleyallenlove.com.au T: 02 6274 0810 | www.bradleyallenlove.com.au

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CORPORATE GOVERNANCE

BANKING

Brought to you by Kylie Peden

Will a pool leave you swimming in cash, or drowning in debt?

The hot Australian summers are perfect pool weather, so it might not be surprising to learn that Australia has the highest pool ownership per capita – there’s around 1.2 million private pools currently installed and thirty thousand new pools being installed each year1. But, aside from the countless hours of enjoyment you and your family could experience with a pool, is it a good financial investment for your property, or is it money down the drain? There are advantages and disadvantages to installing a pool at your current home or purchasing a home with a pool already included, so it’s important to review all your options. Pool for thought Before installing a pool, consider what the potential market value increase could be. Statistically, a pool adds an average of around 8% to the value of a home, which increases to 10% in hotter climates, such as the Northern Territory1,2 – some figures estimate it could be even higher, at around 30%3. However, your location could be the deciding factor. If your property is in a cooler climate, a pool may be seen as a burden, not a benefit; people could even lament the fact that space has been taken away from their backyard. Conversely, a pool in a consistently hot environment could be seen as a welcome treat for the family and could attract buyers who are willing to pay a higher price3. While the overall cost of running a pool has decreased in recent years, they could still be expensive to maintain1. The initial outlay for the pool, plus monthly costs for chemicals, running the pump, cleaners, lighting, heating and the mandatory safety fences could all detract from the overall value. A watered down investment If your property’s primarily for investment, consider your renters. Will people look after the pool properly? Is the cost of installation going to be outweighed by the potentially higher rents you can charge? There are also issues around public liability that could raise your insurance premiums4. Think and swim While investing in a pool could be seen as a cool way to add value to your home, there are many who could see a pool as just too much effort. It’s important to consider both the advantages and disadvantages before diving in and finding out too late that you’ve been caught in the deep end. Disclaimer: The information is in summary form and does not purport to be complete. It is intended as a general guide only and is not a substitute for professional advice. The information does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Sources: 1. “Pool lovers go with the flow”, afr.com, Accessed 9 September, 2014 2. “Does adding a pool increase value?”, mohuandi.com.au citing Real Estate Institute of Australia Statistics 2013, reia.asn.au, Accessed 9 September 2014 3. “How much value does a pool add to your property?”, apimagazine.com.au, Accessed 9 September 2014 4. Prandi, Melissa, 2005, “The Unofficial Guide to Managing Rental Property”, Wiley Publishing.

by Phil Butler

Workforce Diversity

In early April, the Australian Institute of Company Directors (AICD) released a statement calling on all boards to ensure that at least 30% of directors are female, and urged all listed companies to achieve this target by 2018. In launching this target, AICD’s Managing Director and CEO, John Brogden, said the new objective is a significant extension of previous diversity initiatives. “There is an undeniable case for gender diversity on boards. It is not only the right thing to do, but the smart thing to do” Mr Brogden said. “Numerous pieces of research demonstrate a positive link between the level of female representation on boards and improve corporate performance.” While the specific 2018 target is for listed boards, the push for greater female representation is equally applicable to all structures including private, public and not for profit sectors. As Mike Myatt wrote in Forbes magazine in late 2013, “board diversity is simply smart business… the best boards are the most diverse boards. They can offer a depth and breadth of insight, perspective and experience that non-diverse boards simply cannot” While the focus of the AICD target is on increasing female diversity at board level, this is equally important at the broader workplace level. As outlined in the Australian Public Service induction guide, a diverse workforce “increases the opportunity to bring various perspectives to identifying and solving problems”. Of course, it is not just about gender diversity. One of the important issues for any organisation is having the right balance of experienced people who understand the business and industry with those people who will think differently and use their diverse experience to drive innovation. Similarly, employees who come from different cultural backgrounds will bring different perspectives to your organisation, as will those who come from younger or older demographics. Achieving diversity, at board or management level can assist in boosting organisational performance. It must also be recognised that such diversity needs be managed appropriately. The role of the Chair of the board in optimising the benefits of the diverse views should not be underestimated. A good Chair will understand the complexities that emerge with a group of diverse individuals. Similarly the CEO needs to understand the diverse workforce that they are managing, as well as understanding the board they are reporting to. No doubt there is much to be gained from a diverse workforce from the top-down, and it is equally important to recognise that greatest benefits will only be achieved through the appropriate harnessing of this diversity.

ANZ Mobile Lending For more information, contact Kylie Peden, ANZ Mobile Lender, M: 0400 131 314 E: pedenk@anzmortgagesolutions.com This Mobile Lender operates as ANZ Mortgage Solutions Belconnen & Gungahlin, ABN 39 142 445 725 an independently operated franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Australian Credit Licence Number 234527. ANZ’s colour blue is a trade mark of ANZ. Terms and Conditions, fees and charges apply.

Phil Butler is Manager - NFP, Public Sector & ACT at the Australian Institute of Company Directors. Level 3 54 Marcus Clarke Street Canberra T: 02 6132 3200 | www.companydirectors.com.au

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DISTRIBUTION LOGISTICS

by Peter Terho

Digital versus Offset printing

The Print Logistics industry is undergoing continual change – if we accept that “print is not dead”, then we are told that today’s choice is either Digital or Offset printing. The reality is that there remains a role for both, and the choice is not so much “which one” but “which one is right for this job”. Traditional Offset printing involves an inked image being transferred (or offset) via a series of rollers from a plate to a rubber blanket, then transferred to cut sheet or paper rolls. Offset is the logical choice for large volume print runs where colour accuracy is paramount and generally includes the following benefits – • Better colour quality and accuracy (includes pantone and metallic spot colours); • Better range of paper stocks, inks and finishing options; • Inks are fully absorbed (sheets do not “crack” when folded); and • Larger volumes are more cost effective (lower per unit prices). Digital printing on the other hand involves direct printing from a digital medium using either ink jet or laser technology. With everimproving technology, in a business environment that has a reduced reliance on large generic print runs, digital print is becoming more popular, particularly in our time-poor business world. Digital print is the preferred choice for any low volume, fast turnaround requirement, and has the following advantages over traditional offset printing – • Quick set-up and fast turnaround (24 – 48 hours availability); • Low set-up costs; • Personalisation and customisation options; • More cost-effective for smaller volumes (up to 3-5,000 copies, depending on requirements); • Lower environmental footprint than offset, which uses large volumes of paper and ink in set-up; • Flexibility with regards late changes and different print sizes; • Accuracy of proofing; and • Variable wide format printing options. So in making the choice between Offset and Digital print, the deciding factors come down to • Quality, • Volume, • Budget, and • Timeframe. As with all logistical issues, your selected print service provider should also be able to offer full flexibility, a quality customer service experience and, as the actual printing is usually only one step in the supply chain process, the option of a full end-to-end print and distribution solution.

National Mailing & Marketing 24

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Your independent warehouse, mail house and distribution specialists... P: (02) 6269 1000 www.nationalmailing.com.au

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FAMILY LAW

by Chloe Curran

Relocation of children following separation

Do I need permission from the other parent or a Court to move with my children? Parents need to be aware that if you move within Australia without the other parent’s consent or a court order, the other parent may apply for a recovery order in the family law courts seeking to have the children returned. If a recovery order is made, a Court can also order the AFP to attempt to locate you and to return the children to their primary place of residence. Parents should seek legal advice before moving without the other parent’s consent or a court order. It is an offence to take children who are the subject of a Parenting Order or proceedings to obtain a Parenting Order out of Australia without the other parent’s consent or a Court order. Even if there are no Orders or court proceedings, the other parent can bring proceedings under the Hague Convention on International Child Abduction which usually results in the children being returned to Australia. If I am contemplating moving with the children what should I do? If you are thinking about moving, early planning and timely legal advice is the key. Before talking to the other parent it may be beneficial to first obtain legal advice. If your legal advice is to obtain the consent of the other parent before moving then you need to give the other parent plenty of notice of your desire to move with the children. If for one reason or another you are unable to or uncomfortable with communicating directly with the other parent, you might consider using a third party, including mediation or solicitor- aided negotiation. In circumstances of domestic violence, mediation may not be appropriate and therefore solicitor-aided negotiation or court intervention may be necessary. If the other parent agrees to me moving with the children do I need to formalise the arrangement? If the other parent agrees to you moving with the children then it is important to formalise the agreement in writing, either through a Parenting Plan (which is a signed, written agreement between the parents but not lodged with a Court and therefore are not legally enforceable) or by applying for Consent Orders through the Family Court of Australia (Orders are legally enforceable). The advantage of obtaining Consent Order over a Parenting Plan is to provide greater certainty and enforceability. If an agreement is reached you should consult a lawyer to assist you in drafting the required documents. What if the other parent doesn’t agree to me taking the children? If the other parent does not agree to you and the children moving, you can make an Application to the family law courts for court permission to do so. The court will decide whether it is in the best interests of the children to relocate or to stay. There are many factors the Court considers in determining what is in the best interests of the children, and these are outlined in section 60CC of the Family Law Act 1975. A lawyer will be able to give you advice about your prospects of success and assist you to maximise those prospects if you decide to proceed. Chloe Curran is a Lawyer of the firm. Chloe joined the DDCS specialist family law team on 30 March 2015. 18 Kendall Lane, New Acton Canberra City ACT 2601 T: (02) 6212 7600 E: mail@ddcslawyers.com.au www.ddcslawyers.com.au

Is your financial future relying on one or two asset types? When it comes to investing, risk and reward are intricately linked. Thatâ&#x20AC;&#x2122;s why itâ&#x20AC;&#x2122;s so important to seek out specialist advice on the investment options available to you. At Dixon Advisory, we provide our clients with tailored advice and personalised investment recommendations across nine

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different asset classes. We know that the way assets are allocated across your portfolio can be a key driver for building longterm wealth, but naturally what works best for you will depend on your goals and risk appetite. If you think you may be overexposed to a particular asset class or would simply like to know

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Unlock your leadership potential With the Company Directors Course Celebrating its 40th year in 2015, our Company Directors Course has earned its reputation as an essential course for director development. Join the thousands of directors who have helped shape the future of governance in Australia.

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more about the range of investment opportunities available, and would like to discuss with one of our experienced Investment Advisors, for a limited time, we are offering 10 complimentary appointments. Call us today on 1300 264 485.

CANBERRA | SYDNEY | MELBOURNE | NEW YORK

INTELLECTUAL PROPERTY

by Shaun Creighton

Legal issues to consider when starting a business

Starting a new business is an exciting time. A difficulty may be getting all necessary legal advice, and mechanisms in place prior to starting. Although cash flow can be tight when starting out, this is an important time to receive professional advice, as it may limit the risk of unintended issues arising later. What are the legal issues / advice / documents you will need before you start your business? Sadly, there is no such thing as “one size fits all”, as the answer to this question turns on the nature of your business, how you are structured, your size, and the industry you operate in. Examples of the types of legal services we regularly find a start up business needs (and why) include: • Legal structure advice: Before starting to trade, have you considered whether you will trade as a sole trader, company, partnership, trust, or even a company as trustee of a trust? This is important to discuss with both your lawyer and accountant to minimise unintended legal, accounting and taxation consequences. • Founder Agreements (eg Shareholder Agreements): If you are going into business with other people, a founder’s agreement (such as a shareholders agreement, partnership agreement, unit holders agreement) is a must. This agreement should cover off issues such as what is the entry and exit process (and conditions which must be satisfied prior to entry and exit), how are decisions made (including decisions which must be unanimous), who owns any IP which is generated, and any restraints against an exiting party from competing with you. • Intellectual Property Protection: The type of IP in a new business will vary from case to case, but almost every new business will have a new name / brand. That name / brand should be protected by way of one or more registered trade marks. This will provide you with an ability to prevent 3rd parties from using a brand similar to yours, plus limits the risk of being forced to re-brand as a result of infringing the rights of a 3rd party. • Good and / or Services Agreements: If your business intends selling goods or providing services, there is merit in having your good or services agreement ready for use before you start to trade (or soon thereafter). • Employment and / Contractor Agreements: If engaging people to work for you, will you engage employees or contractors? Do you understand the difference between the two and the consequences of getting this wrong? • Policies: before you start, you may require a privacy policy, website terms etc. ARETE Group’s Start Me Up package: A fixed fee package tailored to suit start up businesses ARETE Group offers a tailored service package for start up businesses. We call it Start Me Up! Check out details of our Start Me Up! program at http://www.aretegroup.com.au/start_me.html. Under Start Me Up! we offer a discounted fixed fee package of services, tailored to suit your specific needs. What is included in that package is up to you. To find out more about Start Me Up! Visit or contact us at W: www.aretegroup.com.au or www.atrademarks.com.au E: shaun.creighton@aretegroup.com.au T: 02 6162 1639 or 1800 705 680

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RECRUITMENT

by Jim Roy

When it's time to leave, leave well

The day will inevitably come when it’s time to move on from your current organisation and take up a fresh challenge elsewhere. However, the way you leave your employer is important and you must ensure you leave on good terms, as how you leave is often how you are remembered. Leaving one organisation to start a new challenge elsewhere can be a daunting prospect, but it does not have to be. So how can you ensure a smooth and successful departure? At Hays we advise you to consider the following: 1. Plan who to tell first and when: You don’t want members of your direct team finding out about your departure from anyone but yourself. You owe it to your colleagues to be honest and open with them about why you are leaving. Although the news may come as a shock, help them to understand that now is the right time for you to pursue your next challenge. 2. Cut the strings and start to let go: During your time at an organisation you will have no doubt become emotionally invested in your work and the strategies you created. This makes leaving the business behind all the more difficult. Once you have made that decision, you need to start thinking how you will let go. That means working with your colleagues to ensure they are empowered to continue with the vision. 3. Your departure is someone else’s opportunity: Leaving the business needn’t be seen as a negative by your colleagues; instead it is an opportunity for those that report into you to prove themselves. Your departure could be the catalyst to bigger and better things for your team. Your absence will undoubtedly be a big gap, but it’s their opportunity to show what they can do and further their own career by stepping into that gap. 4. Maintain your focus right up until the last day: When a new challenge is on the horizon it can be difficult to maintain your focus and drive for your current role, but you must continue to give it your full attention. Maintaining your focus up to the very last day will earn you considerable respect, and will be remembered for a long time by a lot of people. 5. Don’t lose touch and stay connected: Once you have begun your new role, it deserves your full attention, but at the same time you shouldn’t lose contact with your former colleagues. The world is a small place and you could always cross paths again in the future. It’s important to keep those relationships intact, especially if you have done a good job of leaving and your old colleagues have been promoted through your efforts and legacy. Everyone leaves an organisation at some stage. It’s your job to make sure that the organisation doesn’t miss a beat when your own time comes. And if you do it well, not only will you leave the organisation with your reputation intact, you will actually leave with your reputation enhanced.

Jim Roy, Regional Director 5th Floor, 54 Marcus Clarke Street, Canberra T 02 6112 7663 | F 02 6257 6377 E canberra@hays.com.au

WEBSITES

by Sam Gupta

Save your website from Mobilegeddon!

Yes, it sounds a bit dramatic, but if your website is not mobile friendly, the latest Google algorithm could significantly affect your ranking on Google’s search engine. In Australia, over 90% of searches are done on Google. It’s never been more critical for websites to be mobile friendly. If you don’t do something about this now, it is likely to affect your website traffic and eventually your business. Is my website mobile friendly? To find out, open Google on your smartphone and search for your website name. Scroll down to organic search list – hopefully your website will be on the top of the list. Don’t click on the link. Just check the listing. You should have your business name in the first line, then your web-address and then a small description. In front of the description, if you don’t have ‘Mobile-friendly’ in front of your description, your website is not labelled as mobile friendly and that could affect your ranking. What makes a website mobile friendly? • The text should be readable without zooming in on mobile devices • There should not be any horizontal scroll on the screen. (Vertical scroll is not a problem.) • It should address the typical mobile user experience. Links should be easily clickable using fingers. • You should not use any technologies such as Adobe Flash that are not readable on all types of mobile devices. • Also, check with your website developers to ensure that various JavaScripts on your website are mobile friendly. Otherwise, some features such as forms or image zoom will not work on mobile. How much does it cost to make a website mobile friendly? It really depends on your website, its functionalities and what path you take. A cheaper way to do it is to create a very small, mobile friendly version of your main website rather than the whole site. However, I would recommend creating a fully responsive website so that it serves your business better. Through Synapse, you can get a basic responsive 5 page website for just under $2500. I can help you do the mobile-friendly test without charge. Please email your website link to support@synapseworldwide.com.

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Sam Gupta is the managing director of Synapse Worldwide. Sam would love to hear your thoughts on this advice column. Please contact him on 1300 785 230 or admin@synapseworldwide.com

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CHIEF MINISTER’S MESSAGE

State of the Territory shows positive signs ahead ANDREW BARR

CHIEF MINISTER TREASURER MINISTER FOR URBAN RENEWAL MINISTER FOR TOURISM AND EVENTS

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n late March, I delivered my first major speech to the ACT’s business sector on the state of the territory. My speech highlighted the government’s renewed vision for our city- with investment in infrastructure and an urban renewal agenda designed to reinvigorate the nation’s capital. I am committed to this vision as it will continue the city’s growth and help us manage the turbulent financial times we are currently facing. While the cuts to the Commonwealth public service have undoubtedly hurt the territory, the efforts made by both the ACT Government and the private sector have contributed to the highly resilient economy which we currently have. The recent ‘snAPShots December 2014’ showed the Australian Government has cut nearly 16,000 jobs since June 2012, with 8,021 of those cuts made here in the nation’s capital. Once combined with the cuts across other services the Abbott government has made, like our health and community services sector and the threats made to the education sector, it has been challenging for the territory to sustain growth and keep our economy ticking over. Yet the effort by the ACT Government has helped keep the nation’s capital from falling into recession. Over the period that 8,021 APS positions were lost, total employment across the economy only fell by 2,626 – suggesting that nearly 5,400 nonAPS jobs were created during the same period. The renewed commitment of my government to support our private sector through investment in capital infrastructure projects and our refusal to cut ACT Government services has made a significant contribution to our current economic position. Yet I want to see the government going even further to support the private sector during these difficult times. During my ‘State of the Territory’ speech, I outlined plans to establish a Small Business Research Partnerships Program which will see a proportion of government procurement funds allocated to

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working with our innovative local businesses. The program will allow our smart small businesses to assist government through practical and innovative solutions to common problems that can then be sold to other clients outside of the territory. Similar models have been highly successful in the United States. I am confident that smart procurement can stimulate our small business sector and make the ACT a global leader in providing innovative services to government. This initiative will be part of the government’s next Business Development Strategy. I recently reported to the Assembly that all 26 Business Development targets we set ourselves in the previous strategy have been achieved. This included measures to attract foreign investment and skilled migrants, grow our export capabilities, partner with our tertiary education institutions to commercialise research and maximise the value of the visitor economy. It is the goal of the ACT government to continue supporting the territory’s private sector, allowing our economy to diversify and become less reliant on the Commonwealth. Our actions over the last ten years have ensured that the Capital is in a much better position to handle the tough economic climate we now face, but there is more work to be done. I look forward to working closely with our private enterprises on measures to support growth in the sector as we begin to finalise the 2015-16 ACT Budget.

For information phone: (02) 6205 0011 fax: (02) 6205 0157 email: barr@act.gov.au post: GPO Box 1020 CANBERRA ACT 2601 www.parliament.act.gov.au

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New leadership at Canberra Business Chamber CHRIS FA U L K S

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GLENN KEYS, CHAIR CANBERRA BUSINESS CHAMBER

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he new leadership at Canberra Business Chamber is poised to drive a positive outcome for business in the ACT and for the ACT economy. Mr Glenn Keys, elected as the new Chair of Canberra Business Chamber in March 2015 and Ms Robyn Hendry, who will move into the CEO role from late May 2015, are both looking forward to tackling some of the economic and other issues facing the private sector. Since he has taken over the leadership of the territory’s peak business lobby group, Mr Keys has made it clear that, despite recent economic gloom, there are plenty of opportunities for local businesses to grow in Canberra in the current climate. He believes that the key to overcoming downturns caused by cuts to the public service is to capitalise on the smart industries already in Canberra and to turn local companies into leaders in their fields. As Co-founder of Aspen Medical and 2015 ACT Australian of the Year, Glenn Keys knows what he is talking about. He started Aspen Medical from the kitchen table of his Canberra home and has built it, over the last 12 years, to a global business with over 2000 employees located around the world. Glenn recognises that over the next five to ten years there is going to be an enormous amount of development taking place in Canberra that will present opportunities for local businesses. Projects like light rail, the redevelopment of the entertainment area around the casino, and urban renewal including construction along the Northbourne Avenue corridor. Entrepreneurs and business owners in Canberra and the region just need to work out how to take advantage of these projects to support and grow their own businesses. Glenn also believes that there are great opportunities for the city in applying smart technology – to transport, to energy and to the way we do business across government and the private sector. Canberra already has many highquality smart industries led by companies like Seeing Machines, Windlab, Datapod, eWay and others who are leveraging off a smart workforce and a strong research/education sector. An increasing number of these and other businesses have been able to protect themselves from cuts to public sector employment and procurement B2B M AGA Z I N E.CO M . AU

by diversifying and adopting a global outlook, growing their businesses outside the ACT. Mr Keys said there would be three main areas of focus in his leadership of the chamber: supporting all businesses, large and small, with a unified voice; social enterprise, such as taking advantage of the introduction of the National Disability Insurance Scheme and creating opportunities for those with a disability to get more involved in businesses; and making Canberra a more attractive destination for tourists and businesses. Glenn’s vision for Canberra’s future is matched by that of incoming Chief Executive Officer Robyn Hendry who hopes to tackle some of the challenges facing the territory’s sluggish economy. Ms Hendry sees many new opportunities coming from the recent merger of Canberra Business Council and the ACT and Region Chamber of Commerce and Industry. Canberra Business Chamber now offers a single strong voice for business in Canberra and the region. Ms Hendry said she hoped to work with Chamber members and the government to tackle economic issues and diminish the ACT’s vulnerability in the future. Robyn agrees that it’s a matter of Canberra harnessing its strengths and forging a new path forward, based on an educated workforce, world-class research and learning institutions and innovative entrepreneurs. In addition, pursuing big picture projects in Canberra like Capital Metro, a new national convention centre and the City to the Lake initiative will contribute to Canberra being a richer city and a more vibrant community. Ms Hendry has a vision for Canberra as a city on the move with the potential, in our next century, to be the envy of the world.

EVENTS Federal Budget Breakfast 13 May 2015 @ Parliament House 7.00am – 9.00am ACT Budget Breakfast 3 June 2015 @ National Press Club 7.00am – 9.00am

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