B2B August 2012 (issue 74) by B2B magazine

EXTENSIVE INFORMATION TECHNOLOGY FEATURE Some of Canberra's smartest thinking companies

B2B PROPERTY Read about how to prepare your business for sale

PEOPLE & STRATEGY Canberra's boutique consulting firm celebrates 20 years b2bincanberra.com.au

AUGUST 2012

S U p p o r T I n G C A n B e r r A ’ S 1 0 0 I n 2 013

“Separ ation is like an or ange...” FIND OUT WHY IN OUR FEATURE ON SURVIVING SEPARATION USING COLLABORATIVE LAW

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$4.95 inc. GST ISSN 1833-8232 01

6 tips to a better tax deduction 9 771833 823005

Show your support for Canberra’s less fortunate by playing Touch Football with friends and family and enjoying some of the regions best wines.

saturday 24th November 2012 vikiNg Park amsiNck st, WaNNiassa, act Touch Vinnie-Yard supports the St Vincent De Paul Society’s work with people who are homeless in Canberra and the surrounding region. Touch Vinnie-Yard 2012 will offer the public a day of wine tasting from local suppliers, plenty of food, children’s entertainment and a fierce sporting competition. There will also be a Celebrity match featuring local sports stars and media personalities.

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CONTENTS B2B EDITORIAL

photos by Andrew Sikorski

What price rudeness?

TIM BENSON Editor

How much business are you losing because either you or your staff have been rude to a client or potential client? For some businesses with a high turnover, being rude to the odd client may not have a significant impact. However, for businesses with fewer, higher paying, clients – losing a client because of rudeness can be pretty catastrophic.

It is interesting that something that costs nothing, can cost your business significantly. Now of course if you are the only supplier of your product or service, or that you, or your product, are so good that people are prepared to tolerate your rudeness (see Seinfield’s ‘Soup Nazi’), then the impact might be minimal – but there will come a day when competition comes to town or your product loses its popularity. So surely it would be better to retain and try to maintain good relationships with your clients. Yes, even those that may be a little difficult and cause problems from time to time, because, a ‘bird in the hand’ is really worth ‘two in the bush’. I am not a saint when it comes to this. From time to time I too have grown impatient and even, ever so slightly, blown my stack at a client or potential client. But in hindsight what benefit has this given me … A slight adrenalin rush, blood to the head, the brief excitement of exercising our suppressed hunter DNA … The reality is that by being rude to a client or potential client, you will not only lose the client and their potential ongoing business, but also probably ten other potential clients through word of mouth. As I get older and wiser, I am less likely to respond immediately to emails, texts and social media communication. Sometimes I even draft, redraft and ask a second opinion before responding. Sometimes the art of problem solving through procrastination can also be employed. Yes, sometimes the old adage ‘time heals all things’ actually works. So next time you are tempted to fire off that offensive email or tell a client exactly how it is – take a deep breath and remember that you have more Please send all to lose than it is probably worth. comments to editorial@b2bincanberra.com.au

21 CoVer STorY

“Separation is like an orange...”

UPFRONTS 5 Increasing confidence through a combat sport with Stockade gym in Dickson

FEATURES 10 People and Strategy celebrate 20 years 12 6 tips to bulletproof your tax deductions with RSM Bird Cameron

Join Basil, Sybil and Manuel for a dinner at the Canberra Rex Hotel! Friday 28 & Saturday 29 September 2012 Doors open at 7:30pm show starts at 8:00pm $99pp includes: Arrival canapés, 3 course Dinner, selected beverages and 2 hour interactive show

Book Now P: 02 6248 5311 E: bse@canberrarexhotel.com.au

CONTENTS

IT FEATURE 14 Dataflex celebrates 25 years in the industry 16 Elpo- Creating unique business solutions 17 Avoiding software blowups with Agile Digital 18 Take the vapour out of cloud with Cloud Central

COVER STORY 21 Why separation is like an orange using collaborative law to settle family disputes 32 ADVICE FROM THE EXPERTS 33 ACCOUNTING

ATO takes aim at tax evaders By RSM Bird Cameron

34 BUSINESS LAW Is the promotion worth it? By Elringtons Lawyers BUSINESS SERVICES Loss of focus? Lessons from the Darrell Lea collapse By Kazar Slaven 35 CORPORATE GOVERNANCE The benefits of an advisory board to your business By Australian Institute of Company Directors

ESTATE PLANNING The sole purpose of your SMSF By Certus Law 36 HEALTH A life changing opportunity … By Healthy Identity

COMMERCIAL PROPERTY Timing the move By Ray White 37 STRATEGIC FINANCIAL ADVICE Safeguarding your personal assets By Perpetual 37 TRAINING Calling all industry experts By Learning Options A2B: ASSOCIATIONS TO BUSINESS 38 ACT DEPUTY CHIEF MINISTER AND TREASURER: Red Tape 39 ACT & REGION CHAMBER OF COMMERCE & INDUSTRY: Canberra’s Business Community 40 CANBERRA BUSINESS COUNCIL: Red Tape 41 ACT EXPORTERS: Market in Focus: Indonesia BUSINESS NETWORKING 06 B2B @ People and Strategy 20 year celebration 07 B2B @ Cotton Club at Cabinet Bar 08 B2B @ Telstra Business Awards 42 PROPERTY 48 BENDIGO BANK 52 BRINDABELLA BUSINESS BROKERS If you are selling/ thinking of selling talk with you accountant now

40 PUBLISHER I EDITOR

Tim Benson editorial@b2bincanberra.com.au 02 6161 2751

ADVERTISING ENQUIRIES ISSN 1833-8232

Tim Benson 0402 900 402 tim.benson@b2bincanberra.com.au

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UPFRONT

Increasing confidence through a combat sport

f you want a full-body work-out that combines fitness and strength, if you need some extra confidence, if you’re desperate for some stress relief, and wouldn’t mind a bit of spiritual enlightenment, then a combat sport might be the activity for you. Combat sports are enjoying a huge increase in popularity, not necessarily due to people who want to be better fighters, but to people who are looking to achieve a number of goals with one multi-faceted activity. It’s a bit like the explosion of dance fitness activities such as Zumba, which promote a holistic approach to fitness. However, more than any other fitness discipline, combat sports have an unmatched ability to boost self-confidence. This is one of the biggest drawcards of combat sports. There are a number of reasons why they can have such positive psychological effects. For starters, combat sports teach you self-defence. Anyone who lives in fear of being attacked and not knowing what to do can erase that fear once they become competent at self-defence techniques. Combat sports do not promote violence - rather they teach you how to use force if absolutely necessary and how to keep calm in the face of danger. Combat sports also teach discipline as an integral characteristic for mastering the techniques of that particular sport. This

discipline can permeate all aspects of your life, and give you a far greater belief in your ability to achieve your goals. Greater confidence can also come through the change in your physical appearance. Combat sports are a great way to shed fat and gain muscle tone and strength. You may look better, you will typically feel better, and your self-esteem may increase as a result. Combat sports have a unique ability to relieve stress. Not only do they have all the stress-relieving benefits of a high intensity work-out, but they actually promote calmness and composure rather than aggression. Any pent up aggression can be expelled during your combat session, and in your day-to-day life you could find you have a greater capacity to make logical decisions rather than reacting on impulse. There are a number of different types of combat sport; you just have to decide which one might suit you best. To discuss all of the combat sports would take an entire book, so here are just a few popular ones. Boxing There aren’t many people fitter than boxers. Boxing requires cardio-vascular fitness, strength, agility and a quick mind. Boxing can build your endurance and your tolerance to pain, and may give you the ability to deal with potentially violent situations. Brazilian Jiu Jitsu Jujitsu was created in

Japan but has been adopted and modified by the Brazilians, among many others. Jujitsu shares many similarities with judo, but is a bit more aggressive. It mainly concentrates on grappling and ground fighting. Wrestling As you might see at the Olympics, wrestling is an ancient handto-hand combat sport that uses grappling techniques to pin down your opponent. Muay Thai This is an ancient form of self-defence originating in Thailand, but it has become very popular in the Western world in recent times. It is known as the “art of eight limbs” because you use your hands, feet, knees and elbows to fight. Kempo This is a system of martial arts that is characterised by quick, smooth, flowing movements. It employs both hard and soft martial art styles and involves blocks, strikes and kicks. Like other combat sports, Kempo can help build confidence, endurance, strength, co-ordination and self-discipline. If you’re planning to take up a combat sport or become involved in martial arts, there is no shortage of options. Find out what’s available in your area and drop by to watch a class. http://en.wikipedia.org/wiki/List_of_martial_arts http://www.livestrong.com/martial-arts/ http://www.combatkempo.com/

MMA Fitness Classes Monday, Wednesday Friday and Saturdays

way. All in a fun, safe environment. Classes are non-contact.

www.stockadetraining.com.au • 3 Rosevear Place, Dickson

B2B @ PEOPLE & STRATEGY CELEBRATING 20 YEARS NATIONAL PORTRAIT GALLERY

CABINET LOUNGE BAR

FRANKLIN STREET MANUKA

FAT YAK, PERONI & BULMERS ON TAP CLASSIC COCKTAILS & WIDE SELECTION OF

BOTTLED BEERS AND SPIRITS OPEN WED TO SAT FROM 5PM TILL LATE 2PM TILL LATE SUNDAYS AT THE CROSS WALK ON FRANKLIN ST. MANUKA

~TASTY TAPAS MENU~

HAPPY HOUR 7 - 9PM FRIDAYS w $6 BASICS & $7 PINTS

B2B @ COTTON CLUB AT CABINET WITH SPECTRUM BIG BAND CABINET BAR

COTTON CLUB AT CABINET

THURSDAY 30 AUGUST

WITH SPECTRUM BIG BAND AND SPECIAL GUESTS

7.00PM - 10.00PM

ALL THE GREAT HITS OF THE 1930s

INCLUDING COUNT BASIE, DUKE ELLINGTON,

ELLA FITZGERALD& CAB CALLOWAY

VOLUNTARY $5 DOOR CHARGE

ALL PROCEEDS GO TO CEREBRAL PALSY ALLIANCE ACT

B2B @ TELSTRA BUSINESS AWARDS ACT THE HYATT HOTEL

Premium Lounge Indulge in Canberraâ&#x20AC;&#x2122;s most luxurious cinema Luxurious reclining seats | Priority ticketing service | Seasonal wine list and delicious range of gourmet meals | Personal waiter service and in cinema dining | Exclusive use of the Premium Bar and Lounge Advance bookings are highly recommended. Visit www.dendy.com.au or book at the box office. Dendy Premium Lounge is a licensed venue. Guests under the age of 18 are required to be accompanied at all times by a parent or legal guardian.

F E AT U R E

FACILITATING EXCELLENCE FOR TWENTY YEARS… AND COUNTING

his year one of Canberra’s bestknown consulting practices turns twenty and they celebrated the occasion last July with an anniversary party on a grand scale. People & Strategy took the opportunity to mark this milestone with an evening of entertainment and reflection. Professor Peter Shergold AC - former head of Prime Minister and Cabinet, and now Chancellor of the University of Western Sydney along with a number of private and not-for-profit board appointments - was keynote speaker for the event. Professor Shergold brought his considerable knowledge and experience to the topic of Public Sector Reform – the Past Twenty Years, the Next Twenty Years. His entertaining and thought-provoking reflections, and challenges to public servants to embrace innovation, experiment with

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new technologies, engage with citizens and challenge old paradigms that no longer serve us well, were well received on the night. The elegant atmosphere of the National Portrait Gallery provided the setting for the evening, with a local jazz quartet from the ANU School of Music providing the musical entertainment. Additional speeches from the Company’s founding Director, Adrian Morgan and current Managing Director, Kathy Hilyard rounded out the evening’s events. People & Strategy takes pride in being one of Canberra’s most sought-after boutique consulting firms. They specialise in public sector leadership, performance and change. They are passionate about fostering excellence in public sector practices and the team comprises some of the most highlyskilled facilitators and thinkers on public sector reform and improvement. “Aristotle saw the role of the State as one

of building the foundations for citizens to live Excellent lives,” said Managing Director Kathy Hilyard in her speech to mark 20 years of People & Strategy. “This should strike a chord with all contemporary public servants. At People & Strategy, we like to think of our role in working with public sector organisations as that of facilitating excellence… we are so proud to work with public servants in all kinds of roles and environments to assist in the process of achieving outcomes for our citizens and our nation. It’s what gets me out of bed in the morning – knowing we are making a contribution to such important work.” People & Strategy are unique in their approach to working with public sector organisations. They have a dedicated team of people who constantly research, think about and write on contemporary public sector issues. “Our program materials and our

B 2 b I n C a n b e r r a | S u p p o r ti n g C a n b e r r a ’ s 1 0 0 i n 2 0 13

F E AT U R E

Kathy Hilyard, Managing Director People & Strategy

advice is deeply robust with a strong research base, and we invest heavily in engaging ways to present and promulgate our thoughts and insights. Our products are consistently described by our public sector clients as the best quality work they have seen,” noted Kathy. Adrian Morgan, founding Director of People & Strategy, spoke about the early thinking that underpinned the company’s approach way back in 1992. “We really wanted to offer an alternative to the consulting firms – you know the ones – where they take a report, globally replace the name and then give you something they have delivered for others before,” Adrian explained. Kathy suggested that this culture of innovation and tailoring for the specific context and nature of the client organisation continues as a core element of the fabric and culture of People & Strategy today. This passion for collaboration, innovation and excellence, according to Kathy, has been the key to People & Strategy’s enduring success over the past six years since she became the sole Managing Director. “We think it is incredibly important to practice what we preach, so not only do we work with our public sector clients to assist them to build these types of practices and to reform and change their organisations and their leadership approach, but we are also practising this ourselves inside our business.” “I am so proud of the team (past and

present) today as we mark this significant occasion. Everyone who works with us and for us has passion for what they do and possesses talents that constantly astound me. I am thrilled to have such wonderful, committed staff and colleagues,” Kathy said. In her final comments on the evening, Kathy thanked the 170 public sector professionals and members of the team who joined the celebration. What’s next for People & Strategy? The team is excited by new ideas for progressing their work on thinking about the future of public service in our country as they continue to explore and research the question, “Who are the leaders we need for the future?” Watch their blog http://www. peopleandstrategy.com.au/our-thoughts/ for more on this over the coming months and look out for announcements about new directions for the company, as well as the services they can offer to the public sector.

PEOPLE & STRATEGY SPECIALISE IN: Working in partnership with Agencies to examine and improve performance, develop high performance and cultivate a culture of excellence Facilitation services for strategic planning, group consultation, team building, group problem solving sessions Workshop and consultation design and facilitation Leadership development – strategy, design and facilitation Change planning and facilitation Strategic advice for improving public sector practices

Unit 13/71 Leichhardt St Kingston ACT 2604 P: 6260 7600 collaborate@peopleandstrategy.com.au www.peopleandstrategy.com.au @p_and_s

Review and evaluation of HR and business practices – performance management systems, learning and development strategies, leadership and management, communication and stakeholder engagement Find out more on their website at: www.peopleandstrategy.com.au

F E AT U R E

6 Tips to bulletproof your tax deductions Billy Kang, RSM Bird Cameron

ax deductions are the next best thing to not having to pay tax at all. You want to maximise deductions claimed in your tax return so to maximise the refund of your hardearned cash that has been withheld as PAYG. But how confident are you with the legitimacy of your tax deductions? Are you sure you are entitled to your claims? Do you have sufficient evidence to support your deductions? If you ever had sleepless nights after putting in your tax return, use these 6 tips to beat the fear and bulletproof your tax deductions. 1. Keep receipts Receipts or tax invoices are the best proof of your deductible purchases. You are generally required to keep these for 5 years. If you are claiming depreciation (for example, a computer) don’t bin the receipt until 5 years after the last year the item is depreciated. Ever had one of those fading receipts (technically because they were printed on thermal paper) – No, they won’t last 5 years! So photocopy or scan and store them in your computer to save you a lot of trouble down the track. 2. Use a debit/credit card Using a single debit/credit card helps you to pick up deductible purchases with ease at tax time. The added benefit is you could always ask for a duplicate copy of the bank/credit card statements or access online. If you happen to have misplaced the original receipt the bank/credit card statement is a good enough reference point for many retailers to track down the transaction and reproduce an invoice. 3. Claim deductions that do not require recepts Receipts are not required for expenses of $10 or less each as long as these do not exceed $200 in total. Parking fees and toll charges where receipts are not usually issued can also be claimed on top of the $200 limit. You can also claim laundry expenses up to $150 each year without receipts if you are required to wear uniforms or protective closing at work. In addition if you are paid travel allowance you can claim a “reasonable amount” prescribed by the

ATO without substantiation. For example, the daily reasonable amount deductible is $289.25 for travel to Melbourne for employees earning up to $104,870 in the 2011-12 tax year (search “TD 2012/17” for more details). 4. Keep a log book for your car or claim cents per kilometre Car expenses are often the biggest work-related deduction. If you use the logbook method you can claim the business use percentage of actual expenses including fuel, rego, insurance, maintenance, interest and depreciation. A logbook covering all business and non-business trips must be maintained for a continuous period of 12 weeks. Then the business use percentage based on the logbook is valid for 5 years. If you don’t have a logbook you can claim up to 5,000 business kilometres per car using the cents per kilometre method (a maximum deduction of $3,750 in 2011-12). 5. Apply common sense Be sure to “self-audit” your deductions before lodging your tax return. Apply common sense – it wouldn’t seem plausible to claim a $10,000 business travel against a $40,000 salary but the same deduction may be reasonable if you earn $200,000 a year. If you are in IT, computer and internet expenses would be common deductions; if you are a sales representative, reasonable amounts of car and mobile phone expenses are expected. 6. Use the service of a reputable tax agent DIY tax may not be for everyone. A tax agent can help you identify allowable deductions, review the reasonableness of your claims and make sure substantiation requirements are met. If you decide to use the service of a tax agent be sure to find a reputable firm. Stay away from offers and promises that seem too good to be true. The tax office is always keeping an eye on dodgy schemes promoted by certain tax agents – in extreme cases the entire client base of these practices had been reviewed and audited. Use the service of a reputable local accounting firm will give you extra peace of mind when claiming deductions in your next tax return.

Bird Cameron

Chartered Accountants

For more information, please contact Billy Kang at RSM Bird Cameron, on 02 6247 5988 or billy.kang@rsmi.com.au. www.rsmi.com.au

With RSM Bird Cameron you truly are... Connected for Success.

Does your accountant have a bird’s eye view of your future?

Connected for Success 90 years and here to stay At RSM Bird Cameron, we don’t just talk to our clients at tax time. We help you navigate and plan the future of your business and personal wealth throughout the year. Cost-effective and prompt in service, we care for our clients’ affairs like they are our own. Whether you are looking to expand the business to new markets, explore R&D tax incentives or better understand how the new carbon tax will affect you, we can connect you with the right advice.

rsmi.com.au

Assurance Business Advisory Corporate Finance Financial Services Risk Advisory Taxation Turnaround & Insolvency 02 6247 5988 Level 1, 103-105 Northbourne Avenue, Canberra ACT 2601

I N F O R M AT I O N T E C H N O L O G Y F E AT U R E

dataflex //Celebrates 25 years in the Canberra IT marketplace//

dataflex = technology + service + experience

ataflex is a local Canberra privately owned IT solutions provider. Dataflex was established in 1987 in the ACT and is now respected as one of the largest IT suppliers to federal and local government. As a technology intermediary, Dataflex operates across Federal, State and Local Government, Education and Corporate sectors. The key to the success of Dataflex in a market dominated by multinational vendors is reputation as a proven Prime Contractor. Dataflex has access to the very best products available from a large range of vendors. This allows Dataflex to pick and choose from a variety of manufactures based on the end users specific requirements. Dataflex has a large team of technical support staff to ensure that Dataflex can offer a single point of local contact for any issues that may arise. For even the most complex multivendor solution Dataflex is able to provide a single destination for all helpdesk assistance, troubleshooting and warranty job logging. Across each of the four key stages of largescale implementations: design, procurement, implementation and support, Dataflex have the experience and resources to deliver every time.

“Dataflex is continually evolving its offerings and searching the marketplace for innovative solutions that will meet and exceed our clients’ expectations.” Brian Evans – Owner / Managing Director Dataflex.

I N F O R M AT I O N T E C H N O L O G Y F E AT U R E

dataflex //can now provide your Organisation trouble free solutions//

SERVER AND NETWORK MANAGEMENT Support, IT Services and Helpdesk IT SUPPORT SERVICES complete helpdesk capability STRATEGIC PLANNING service level agreements, requirements analysis PROJECT MANAGEMENT Certified PRINCE 2 practitioner BLUCLOUD virtualise IT Solutions fully redundant DSD certified hosting services

IT HEALTH CHECKS AND AUDITS trained and qualified technicians

For more information contact Dataflex info@dataflex.com.au

IT CONSULTING AND PROJECT REVIEW replace and review your requirements and capabilities

he recent addition of the new Dataflex Logistic and Integration Centre based in Fyshwick ACT to the Dataflex portfolio has increased the scope of Dataflex’ ability and service offerings, creating opportunities to manage infrastructure and IT services with trouble free solutions.

IN-HOUSE IT REPAIR FACILITIES laptops, desktops, servers and other hardware FULLY MANAGED PROACTIVE IT SOLUTIONS small to medium and enterprise across ACT and NSW

Do you want the right IT solution, delivered seamlessly, by a team you trust?

WITH DATAFLEX—YOU CAN HAVE IT ALL NSW / ACT

/ w / www.dataflex.com.au

/ e / info@dataflex.com.au

/ t / +612 6295 1999

I N F O R M AT I O N T E C H N O L O G Y F E AT U R E

New software a unique business solution for driving schools

ony Commisso is a an experienced business adviser and chartered accountant and former partner with Deloitte. He left professional practice to pursue his entrepreneurial interests which included the acquisition of NRMA Insurance face-to-face network in the Capital Region and subsequently introducing the NRMA branded driving school locally. He has grown the Canberra based driving school on a largely autonomous basis including establishing a local booking office/ call centre, local web site and importantly Canberra’s first online booking system for the booking office, driving instructors and customers. Tony said that “through application of his professional skills and passion for excellence he has developed a range of specialist skills in the successful operation and growth of driving school businesses using good basic business practices and cutting edge internet strategies appealing to the teen market and their parents. Our online booking system generates about 35% of all bookings.” He has co-founded Elpo Technology Pty Ltd, a developer of a comprehensive online business solution for appointment based businesses, which includes a customer ecommerce interface. The company is part of Microsoft’s Bizspark program for

startups. The core application is called smartAPPOINTMENTS™. He has co-founded Elpo Technology Pty Ltd a developer of a comprehensive online business solution for appointment based businesses, which includes a customer ecommerce interface. The solution leverages modern cloud technology for managing a franchised or divisionalised business and a mobile workforce, both employed or contracted. Working with co-founder Greg Abernethy, the web based application goes far beyond the normal online scheduler/diary. Tony said that “the diary is only part of the business requirements. An appointment based business also needs to ensure the efficient allocation of resources, vehicles and people, matching the customers’ requirements.” Driving School Manager™ is a five dimensional business system for driving schools, which was built using smartAPPOINTMENTS™, catering for dealings with Customers, Driving Instructors, Corporate Clients (multiple customers but one invoice), Service offerings and finally the operational, financial, marketing and reporting requirements for the driving school itself.

Customers and Driving Instructors access self-service portals 24/7. The system has fully integrated marketing and sales features including SMS, Email, Promotional codes and package deals. Driving School Manager™ was introduced in Queensland at an ADTA conference and has been deployed to 8 driving schools representing over 100 driving instructors and some 12,000 customers. The company expects to increase demand when the software is formally launched into the Australian driver education market later this month. The company is also planning the release of a scaled down version of the software to suit sole trader driving instructors. The core software engine, built in Microsoft ASP.Net is currently being deployed to an Australian and New Zealand franchised cleaning businesses connecting all franchisees, staff and contractors to the franchisor’s central call centre, website and planned web-based booking system. This represents the first non-driver education market for the company.

Tony Commisso,Elpo Technology 9/37 Kesteven Street Florey ACT 2615 tony@commisso.com.au drivingschoolmanager.com.au 16

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I N F O R M AT I O N T E C H N O L O G Y F E AT U R E

AVOIDING SOFTWARE BLOWUPS AND BUDGET BLOWOUTS

Photos by Ben Marden Photography

By David Elliot, Managing Director, Agile Digital

odgy software development has been responsible for everything from Olympic defeat to death by radiation poisoning. Several deaths were reported in cancer patients who received massive overdoses of radiation resulting from glitches in the Therac-25 radiation therapy software that was supposed to be treating them. More fortunate was Spanish boxer Rafael Lozano, who defeated his US opponent Eric Griffin to take gold at the 1992 Olympics thanks to a flaw in the computer scoring system. Software development isn’t easy. The software industry’s patchy history has been marked not just by serious glitches but by budget blow-outs, overlong development times, baffling IT speak and products that simply don’t do what they’re supposed to. Agile Digital specialise in using cutting edge development practices to deliver compelling and innovative software products that people love to use. Agile focuses on both the social and technical practices that drive success in software product development. Our expert engineers work with the latest technology to deliver mobile apps, large-scale cloud database systems and sophisticated web applications. We are the software development partners behind allhomes.com.au, Canberra’s most trusted home-grown brand according to Grey Canberra’s Eye on Canberra 2011 report. Since re-launching the product in 2007 we have continued to work with Allhomes P/L to support and extend their world-class real estate software – which services over 2 million page views each day and is enjoyed by more than 300,000 people a month. Our development methodology has been refined over many years from best practices drawn from multiple engineering disciplines. We now work to ship to our customers their first working software release within six weeks

flat, thanks to insights gained from Lean manufacturing techniques. Other than the discipline of our methodology, our other secret to software project success is having the best engineering talent. By and large anybody can present themselves as a software developer. That “anybody” could be the next Bill Gates, or a very expensive mistake. Through a refined process of technical exams and interview scenarios we have become adept at identifying those talented individuals who make the best outcome and quality focussed software engineers. That’s how we assure our customers that our software professionals are in the top 20 per cent of their field. Although our methodology and talentselection processes are well established, the technologies we work with are constantly changing. When we started out the world was still three years away from seeing its first iPhone. Now mobile Internet device sales are exploding, with estimates that by 2016 one out of every two Australians will be using a tablet device to consume content and services from the Internet. This revolutionary shift towards the “always connected” society, a social phenomenon the pundits call “hyperconnectivity”, has driven a big change in our technology focus. We now craft software solutions with a mobile-first mindset, designing user experiences specifically for the new touch-driven generation of phones and tablets. We recently developed iPhone and iPad apps for local wedding planning business Wedz P/L, in collaboration with premier Canberra design firm Cre8ive. The Wedz product trial took place at the Canberra Wedding Fair in June. It was great to see so many Canberran brides enjoy the experience of creating their professional wedding plan in just three minutes of visualising their big

day. Look for Wedz in the Apple App Store if you’re thinking about taking the plunge. We aim to be the acknowledged leader in the delivery of large-scale, complex and highquality bespoke software in the capital region. We recognise that we can only realise our vision in partnership with great customers. As such we are committed to providing our customers with excellence in service as well as excellence in our delivered products. We aim to ensure that each of our customer’s development projects is characterised by a level of respect and understanding that they may not otherwise have experienced from the software industry. David is Managing Director of Agile Digital, a Canberra-based specialist software development firm that has been successfully delivering custom-built solutions since 2004.

I N F O R M AT I O N T E C H N O L O G Y F E AT U R E

Take the vapour out of cloud with cloudcentral

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Kristoffer. Kristoffer Sheather also recently received funding under the ACT Government / Lighhouse Business Innovation Entrepreneur Development Fund (EDF) which is designed to provide support and training to emerging ACT entrepreneurs. CloudCentral is using the EDF grant to build additional strategic management capability, develop the board of directors, and raise capital from professional investors and venture capital sources. Murray Rankin from Rankin Securities is assisting Kristoffer Sheather and CloudCentral toward achieving their strategic growth objectives. Product & Service Offerings Key Features • Multiple Australian Data Centers with guaranteed data sovreignty • Rapid Deployment, High Availability • Web Interface & Application Programming Interface (API) • Easy to Use Web Portal • Pay-As-You-Grow Hourly or Monthly Billing with no lock-in contracts • Secure Firewall & Private Network • 24x7 Phone & Email Support including Service Level Agreement (SLA) Key Use Cases • Software-as-a-Service & Internet Scale Web Services • Test & Development • Enterprise IT • Disaster Recovery & Backup • Managed Service Providers • Big Data & Large Scale Processing Jobs Email: sales@cloudcentral.com.au Web: http://www.cloudcentral.com.au Phone: 1300 144 007

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COVER STORY

Separation is like an orange

Collaboration and your family

PAGE 2

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Collaborative Law: A bet ter way to set tle your family law mat ter

Canberra Collaborative Family lawyers PAGE 6

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Collaboration: an accountant’s perspective

Who can help you navigate your separation?

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Surviving Separ atioN S u p p o r ti n g C a n b e r r a ’ s 1 0 0 i n 2 0 13 | B 2 b I n C a n b e r r A A U G U S T 2 0 12

COVER STORY

Why a separ ation is like dividing an or ange...

t’s about understanding ‘why’ a person wants something not just ‘what they want’ or what they are ‘entitled to’. For example: Two celebrity chefs are in a television cook-off. Let’s call them Gary and Kylie. Gary decides to make Orange Sorbet. Kylie decides to make a tuna steaks with orange zest salsa. Problem: there’s only one orange. Gary takes this very seriously and calls his lawyer. In retaliation Kylie calls her lawyer. The lawyers write to each other arguing about who is entitled to the orange. After a lengthy Court battle the Judge orders that the orange be cut in half. Both end up with 50% but neither of them have enough to make their dish tasty. If Gary and Kylie sat down to understand their interests, they would realise that Gary really only needs the juice for his recipe, and Kylie needs only the rind. If they had reached an agreement based on their interests, they would have both got what they needed. Of course, not every case is that easy – but by focusing on understanding interests means your lawyer can tailor solutions that work for both parties, not just solutions that make each person equally unhappy. This is the aim of Collaborative Law.

A U G U S T 2 0 12

B 2 b I n C a n b e r r a | S u p p o r ti n g C a n b e r r a ’ s 1 0 0 i n 2 0 13

COVER STORY

Collabor ative Law: A be t ter way to se t t le your family law mat ter

Imagine a world where the lawyers actually want you to stay away from Court. This is the world of Collaborative Law In Collaborative Law, the goal of the parties and their lawyers is to reach an agreement and keep families away from the Court. Features • Do not go to Court • A team approach • Focus on interests and problem solving • Lawyers play a different role • Voluntary acceptance of settlement as the goal • Transparency and truthful communication • Joint retention of experts • Avoidance of even the threat of litigation • Disqualification of all lawyers and experts from participation in any legal proceedings It is conducted on a different basis to the traditional competitive negotiation approach that lawyers adopt. The separating couple and lawyers adopting an interest based approach to the negotiation. Both lawyers help the separating couple work as a team to: • find and focus on your common interests • understand each other’s concerns • exchange information • explore a wide range of possible choices • reach solutions acceptable to both of you

COVER STORY

Why choose collabor ative law Peter Beames

As a senior Chartered Accountant, Business and Financial Advisor I am regularly involved in Family Law matters, either assisting one of my clients going through a divorce or being engaged as a Financial Expert by non clients requiring my expertise. This experience often involves attending Court but in more recent times has included involvement in Collaborative Law as an alternative to the Court Room battle. For matters that end up in Court my role normally requires the preparation of a report based on a mixture of facts and assumptions that is summarised in a specific financial position. There isn’t an opportunity for me to elaborate or make recommendations that may be of benefit to both parties. The situation in Collaborative Law is vastly different. Both parties and their legal representatives are able to ask questions and hear my answers. I am able to answer in a manner that is both informative, provides explanations, and allows the opportunity for me to provide suggestions and recommendations that will provide the best financial and taxation outcome for everyone. This process ensures that unexpected tax liabilities are not inadvertently triggered, either immediately or in the future.

“I wo uld st rongly recommend to anyone embarking on a Family Law mat ter to take advantage of the pro cess that Collabor ation offers.” Pe ter Beames, Beames & Asso ciates In many of the family law matters the major asset is the family business. The family law process inevitably and understandably distracts the attention of the business owner, often to the detriment to the business’ performance, and therefore the financial position of all parties involved. This situation can have devastating financial effects if the family law matter becomes dragged out through a lengthy Court process than can last up to several years. I have seen many instances in drawn out Court proceedings where the business operator appears to deliberately run down the business’ performance over time to orchestrate a lower value. In the long run this approach to me does not make a lot of financial sense. For these reasons I always prefer my clients attempt to resolve their family law matters using Collaborative Law and avoid the stress and delays of going to Court. When managed by experienced Family Law Practitioners with the assistance of appropriately qualified Financial Professionals whom both parties trust and respect, Collaboration can result in a settlement in a much shorter time frame. This is particularly the case in matters where the financial affairs are complex with assets held in a myriad of Trusts and Companies that are more easily explained in a Collaborative environment. I would strongly recommend to anyone embarking on a Family Law matter to take advantage of the process that Collaboration offers. Peter Beames, Director, Beames & Associates (02) 6282 9500 | www.beamesandassociates.com.au

A U G U S T 2 0 12

B 2 b I n C a n b e r r a | S u p p o r ti n g C a n b e r r a ’ s 1 0 0 i n 2 0 13

COVER STORY

Collabor ation and your family Kim Lehmann

I work in a busy practice of clinical psychologists that are involved in individual and couple counselling and family therapy. Canberra Clinical & Forensic Psychology offers a range of different services and our psychologist practice in a number of different specialities. Although the majority of our work is in providing mainstream psychology services to the Canberra community, for some years we have also prepared reports for the courts as independent assessors. More recently, we have been providing advice about what to do to help children not only survive, but continue to thrive as their parents relationship changes. In this work, we have seen the toll that court proceedings can take on families and the frustration that can arise from the time, energy and money that this can involve.

To anyone thinking abo u t using the collabor ative pro cess I say: It ’s worth a t ry! Collaboration support is not offered by all Clinical Psychologists at Canberra Clinical & Forensic Psychology whose speciality may be in other areas, however, I have been the child expert in several collaborations now and I think it really is a much better option. When parents are often at their most stressed and vulnerable, I think that the services of a trained practitioner, whose sole responsibility is to advocate for the child and promote their best interests, can be very useful. In my experience most children find it very helpful to have an independent person (whose feelings they don’t have to worry about) contribute to their voice being heard. The benefit of having a psychologist in this role is that we have the expertise to provide advice based on research evidence and child development principles. This helps children and families achieve the best outcomes possible. When outcomes are not ideal, a psychologist can assist in minimising the chance of long-term harm to the child’s emotional wellbeing. During and after a separation, communication and decisions on parenting can be complex and cause tension. As raising a child is a life-long commitment, I think it can be beneficial to empower couples to resolve these issues with minimal intervention from the legal system. Effective communication and focussing on the needs of the child are an essential part of this empowerment. Again, having a psychologist facilitate this process is useful because we are skilled at couple’s therapy, have a good knowledge of how to boost individual coping and resilience, and are mindful of the potential harm to everyone involved. Regardless of what else is happening (like conflict over finances or property); we stay focussed on what is best for the child. To anyone thinking about using the collaborative process I say: It’s worth a try! Canberra Clinical & Forensic Psychology is aware that the services we offer in support of collaboration may not work for some couples. Saying that, I believe that collaboration can be a significant step in helping separating families evolve their relationships and feel more positive about their futures. Kim Lehmann, Canberra Clinical & Forensic Psychology www.ccfpsych.com.au

S u p p o r ti n g C a n b e r r a ’ s 1 0 0 i n 2 0 13 | B 2 b I n C a n b e r r A A U G U S T 2 0 12

COVER STORY

Not all lawyers advocate Collabor ative Law to their client s.

A group of local family law specialists are seeking to change that. Canberra Collaboratively Family Lawyers is a group that brings together Canberraâ&#x20AC;&#x2122;s leading Family Law Firms to assist families to keep away from Court. The traditional role of the lawyer is to put on the boxing gloves and fight it out in the court, leaving the ultimate decision to the judge. Canberra Collaborative Family Lawyers encourage clients to choose Collaborative Law so that we can take the gloves off and work as a team to achieve a settlement that is controlled by the parties. Canberra Collaborative Family Lawyers was established as a response to many lawyers shying away from Collaborative Law, choosing Court over Collaboration. The collaboration between firms Farrar Gesini Dunn, Phelps Reid, Armstrong Legal, Capon & Hubert and Certus Law means that Canberra has a growing number of matters settling via Collaborative Law and avoiding the cost, delay and pain of litigation. The group aims to build trusting relationships between the lawyers across different firms so that the focus is on reaching agreement. www.facebook.com/CanberraCollaborativeFamilyLawyers

COVER STORY

Collabor ative Law: Who can help?

Why I Collaborate

Margaret Reid “Collaboration is about team work and co operation rather than conflict. It is about collectively devising solutions that work for both parties and their children as opposed to going to battle in the Court room. Collaboration allows both parties to explore common goals and interest and to express their concerns without the fear of Court proceedings.” Phelps Reid | 02 6248 8477 | www.phelpsreid.com

When choosing to Collabor ate, it is important that both parties have lawyers who are commit ted to Collabor ative Law. You need a lawyer who actively encourages their clients to participate in Collaborative Law and who has the right experience working with other collaborative lawyers. Canberra Collaborative Family Lawyers actively promote Collaborative Law to their clients, and have developed trusting working relationships with each other to ensure the process is successful. Canberra Collaborative Family Lawyers have 13 lawyers from leading Canberra family law firms who can help you with your separation.

Collaboration in a complex cases Olivia Gesini “By focusing on the joint identification of issues, gathering of information and creative problem solving collaboration is very effective in complex cases. Harnessing the attention and energy of the collaborative team to find solutions together is far more productive than oppositional approaches which often focus more attention on attacking the other’s position than on finding outcomes which might satisfy both parties’ interests.” Farrar Gesini Dunn | 02 6257 6477 | www.fgd.com.au

COVER STORY

How to measure success?

Collaboration for Clients

Juliet te Ford

Cristina Huesch

“At court, a ‘win’ is ‘success’. But at what cost? – financially and emotionally. A pyrrhic victory more likely. In collaboration success is reaching an agreement which addresses the particular needs of the couple. What worries or fears do the parties have if the agreement doesn’t address certain things, what do the children need – are all crucial questions to be asked and addressed and which become the basis of the negotiation. Goal setting at the outset lays the important groundwork for a constructive, successful (sometimes hard!) negotiation.”

“Collaborative Law is ideal if you have young children and years of co-parenting ahead of you. The negotiations are carried out in a respectful and co-operative manner and this helps build the foundation for successful co-parenting. In a property settlement, collaboration frees up your thinking about what unique solution might work for you and your separated spouse.” Armstrong Legal | 02 6288 1100 | www.armstronglegal.com.au

Farrar Gesini Dunn | 02 6257 6477 | www.fgd.com.au

collaboration - What I’ve learned

Jim Dunn Lawyers can be really effective and have the skills to help separating couples reach agreement without going to court. Before I started collaborating I encouraged couples to mediate. If that was not successful I would negotiate on their behalf using as a guide their rights as I perceived the Court would determine them and if this failed off we went to Court. Now I work with my clients to come up with creative solutions that really meet their needs. Certus Law | 02 6268 9090 | www.certuslaw.com.au

Collaboration in simple cases

Averil Foster “Sometimes the simple cases are the most difficult! To the client, their modest property pool is everything they have. Collaboration allows them to confine the issues to what’s important and relevant, and to resolve the property settlement in a time and cost efficient way.” Farrar Gesini Dunn | 02 6257 6477 | www.fgd.com.au

COVER STORY

Collaboration in parenting mat ters

Advice in Collaboration

Ken Hubert

Kasey Fox

“I speak with my clients about how they wish to resolve their matter. Most say they do not want Court. I agree it is a poor way to communicate and frequently we are limited to talking about rules and proportions. Collaboration has significant advantages when the parties are committed to the resolving the matter out of Court. It allows each side to hear what the other says and the advice is on the same data and not behind closed doors. With that we reach more flexible options informed by what the parties really want rather than guessing what a judge might say.”

“As parents, you know your children better than anyone else. So who better to make a decision about their future? Collaborative Law helps parents focus on what each of you want to achieve for yourself, your ex and most importantly your children. It allows us to bring child experts into the team to help guide the discussions and suggest creative solutions. Your relationship may be over, but you will continue to be parents forever. The way you settle your divorce will impact on your future parenting relationship and your relationship with your children.”

Capon & Hubert | 02 6286 1977 | www.chsol.com.au

The fear of collaboration breaking down

Kathryn Heuer “In collaboration the clients and the lawyers share responsibility for achieving outcomes addressing the needs of both parties. Working as a team with the common goal of finding solutions is a very important part of ensuring successful outcomes are found and the process does not break down.” Certus Law | 02 6268 9090 | www.certuslaw.com.au

Farrar Gesini Dunn | 02 6257 6477 | www.fgd.com.au

COVER STORY

Interest based – not positional negotiation

Collaboration and involving experts

Sarah Keenan

Brooke Crompton

In Collaboration, those who are best at a task are the ones who do it. Too often in traditional litigation the lawyers do everything (sometimes badly), and often at great cost. In collaboration if we need to find out what the assets are worth – we can ask an accountant or a financial planner to do that work. If there is a complex question the parties can ask an expert together. It means that everyone has the same information and that it is all gathered in transparent way that everyone understands.

“Collaboration focuses on the needs of the individual family, both the parties and their children, and the development of outcomes to meet those needs. Alternatively litigation places an emphasis on achieving the best outcome or “win” for my client which often leads to a poor relationship between the parties into the future. Collaboration promotes and encourages a respectful and working relationship between the parties which improves their relationship, to their benefit and most importantly to the benefit of their children.”

Farrar Gesini Dunn | 02 6257 6477 | www.fgd.com.au

Phelps Reid | 02 6248 8477 | www.phelpsreid.com

The collaborative contract

Robert Routh “The collaborative contract is the foundation of the Collaborative Law process. The contract is signed not only by the parties but by the solicitors as well. By signing the contract all commit to cooperatively resolving all the issues without resorting to Court, or threats of Court. The Collaborative Contract helps focus the mind of the parties and their solicitors on reaching an agreement rather than trying to win.”. Certus Law | 02 6268 9090 | www.certuslaw.com.au

Collaboration and my job satisfaction

Dara Isaacson “Managing the process reduces my client’s stress, increases good feedback from clients, and allows me to enjoy what I do. The best part of my job is client interaction and Collaboration allows me to get to know my clients on another level as we focus on how to meet the client’s interests and interests rather than just their legal rights. In a litigated case, even if we’re successful, the delay, cost and uncertainty of the process is frustrating. In Collaboration I get to tell my clients that ultimately they control the process!” Farrar Gesini Dunn | 02 6257 6477 | www.fgd.com.au

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ACCOUNTING

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ATO takes aim at tax evaders by Rhys Kyburz, RSM Bird Cameron

BUSINESS LAW Is the promotion worth it? by Craig Painter, Elringtons Lawyers

Loss of focus? Lessons from the Darrell Lea collapse By Tony Lane, Kazar Slaven

The benefits of an advisory board to your business By Phil Butler, Australian Institute of Company Directors

The sole purpose of your SMSF By Stephen Bourke, Certus Law

A life changing opportunity … By Robbie Manzano, Healthy Identity

Timing the move By Andrew Smith, Ray White

Safeguarding your personal assets By Sara Caggiano, Perpetual

Calling all industry experts By Karen Nicholas, Learning Options

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ATO takes aim at tax evaders

By Rhys Kyburz

Tax evasion is costing the Government at least $50 billion a year, according to a recent report from the Tax Forum Small to medium business owners, as well as wealthy individuals, will become targets of the Australian Taxation Office (ATO) as it tries to address this problem.

The ATO hopes to crack down on criminal tax evasion by closing loopholes and concessions that allow big companies to minimise their tax payments. As a result of this report, the Federal Government will look into making deliberate tax avoidance a civil crime. It can seem as though some tax laws are flawed as they do not treat all forms of income and expenses equally. Many of these laws offer incentives and avenues for wealthy individuals to reduce their taxable income so much that they end up paying less tax than the average Australian worker. As a result, State and Federal infrastructure and services, such as hospitals, miss out on receiving the funds from these wealthy individuals and businesses. This impacts all Australians and means the Government must derive funds for services from other areas. The report also found that $10 billion a year is lost by small businesses who do not declare income, pass on GST collected, or falsely claim tax deductions. A further $17 million is lost when contractors fail to declare properly. The ATO hopes to crack down on criminal tax evasion by closing loopholes and concessions that allow big companies to minimise their tax payments. As a result of this report, the Federal Government will look into making deliberate tax avoidance a civil crime. This will change the rules so that wealthy Australians, small businesses, and contractors are not able to use companies and trusts to minimise their taxes. Another measure is to tighten the definition of who is a genuine contractor under tax laws. This would require a contractorsâ&#x20AC;&#x2122; client to report fees paid to the tax office. These measures may seem harsh, however average income earners do not have the same means to minimise tax as the rich. The ATO will focus on wealthy tax payers as studies show they are more likely to evade paying tax.

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BUSINESS LAW

by Craig Painter and Will Atfield

Is the promotion worth it?

Is that coveted appointment to a position of non-executive director, or a promotion to non-equity partner, worth it? You need to be fully aware of the risks and benefits, and your continuing obligations. The High Court, in a recent decision, held that James Hardies’ non-executive directors breached their statutory duty of care and diligence when they approved a misleading ASX announcement in 2001 on a corporate restructure. Non-executive directors are directors who do not take part in the day to day running of the company. The High Court held that the non-executive directors did not discharge their statutory duties with the degree of care and diligence that a reasonable person in their position would have. What should a non-executive director or a non-equity partner do in their role to ensure that they fulfil their duty of care so that a finding is not made against them like in the Hardie decision? 1. Be proactive: Read all papers, reports and minutes, ask questions if you are not sure and seek more information as required. One must not ‘rubber stamp’ but rather independently judge and critically assess past and present information from management sources and external advisers. 2. Information must be sufficient: The management papers, any presentations, reports, and other information including minutes, reports and data from past or current meetings must provide a reasonable basis for management decisions. 3. Management has to be reliable: It is important to evaluate management’s decisions and opinions. Non-executive directors or non-equity partners need to satisfy themselves that the documents produced by management are reliable. They should also ensure that all appropriate personnel have been involved in the relevant decision making process. 4. Approve with caution: Reporting documents and business announcements require careful review. When approving such documents, one needs to be confident in the accuracy of the content. 5. Be alert on continuous disclosure/reporting/obligations: Your duties and obligations are ongoing. If you become aware of information that affects the company or that an announcement or disclosure is inaccurate, you need to take appropriate action. Although a partnership does not have the same reporting requirements as an ASX listed company, partners do have continuing obligations that must be considered. For example, all partners including non-equity partners are liable for inaccurate reporting in tax returns; consequently they should satisfy themselves that the reporting is correct. Appointment as a non-equity partner or non-executive director is often a significant stepping stone in a career path. However, along with the remuneration comes the added responsibility for ensuring proper management and reporting. Unfortunately, naivety is not a defence to any breach in one’s statutory requirements.

Cassandra Emmett Special Counsel & Manager, Business Services Contact Elringtons T: (02) 6206 1300, Level 7, 221 London Circuit, Canberra City visit: elringtons.com.au

BUSINESS SERVICES

By Tony Lane

Loss of focus? Lessons from the Darrell Lea collapse

As this article goes to print, the future of 74 stores and over 700 employees in the Darrell Lea empire will be clearer. However, the early days of yet another stunning manufacturing and retail collapse in Australia herald valuable lessons for all retail and trade exposed companies.

These same base issues, although arising in differing contexts, drive the demise of many excellent long-standing businesses. It’s no secret that the family-owned business had its fair share of internal ructions. Arm-wrestles for control of the business had led to bitter family disputes. Further distraction was provided by the Company’s long-running battle with Cadbury’s over, of all things, Darrell Lea’s use of the colour purple. These distractions ought not be underestimated in their contribution to the downfall of the company. These same base issues, although arising in differing contexts, drive the demise of many excellent long-standing businesses. As experienced insolvency practitioners, exposed to the day-to-day fluctuations of business fortunes, we are skilled analysts of not only the causes of current financial woes, but also the possible outcomes of a failure to take prompt action. Since the end of GFC1, our attention has become increasingly focussed on ways in which businesses are structured at the outset, and what measures are implemented to separate business interests in the event of disputes or unanticipated events. What has become apparent is that few businesses, especially family businesses, have plans for how those businesses are to be sold, transferred or divided should the need arise. Many business owners resort to the courts to resolve their disputes and, whilst recognising that there is a proper time and place for litigation, the sad reality is that this process often results in dissipation of the very value over which the fight is being had. Conversely, attempts to resolve disputes without the aid of professional advice lead to either no resolution at all, or non-binding arrangements that are often litigated at a later date. Both within and outside the insolvency framework, we can and do assist businesses every day to resolve seemingly irreconcilable disputes, by providing mechanisms for the separation of business interests, including those associated with family law matters, in a way that maximises value for the stakeholders. Much as some may wish to paint our industry as being one of ‘corporate undertakers’ or ‘financial street-sweepers’, we recognise the value that can be maintained in businesses and strive to deliver that value, intact, to the beneficiaries. Our success is varied but our focus on the positive remains clear. Tony Lane is a senior manager at Kazar Slaven and provides advice to clients in the areas of insolvency, business risk and financial conflict and dispute resolution. For more information, contact Kazar Slaven, Level 3, 11 National Circuit, Barton. T: 6215 8405 F: 6215 8450 E: admin@kazarslaven.com.au W: www.kazarslaven.com.au

CORPORATE GOVERNANCE

by Phil Butler

The benefits of an advisory board to your business

A growing number of Australian SMEs are establishing advisory boards as a way of managing growth, setting strategic priorities or resolving conflicts among executives or owners. So, what is an advisory board? How does it differ from a board of directors and how can your business take full advantage of the benefits of an advisory board?

most commonly employed to guide a company through a rapid growth phase, or when analysing a potential takeover target. Unlike a formal board of directors who are governed by the Corporations Act 2001, an advisory board is a group of three to five members who act as informal advisers to the company, providing objective advice on strategic aims. The advisory board is set up with different members who bring their experience, skill and business knowledge to offer their expertise and support to senior management, the CEO and other board members. The executives can choose to ignore or only partially take on the advice. One business owner who has remained a sole director with an advisory board, remarked in a recent edition of Company Director magazine; “I sit on the board of a small bank and the main difference I see between the two is that an advisory board has no focus on governance,” he says. “I feel I’m getting the best of both worlds; the advisory board just focuses on the strategic aspects of our business while we have professionals taking care of the governance.” There are many instances in which an advisory board can prove valuable advice but they are most commonly employed to guide a company through a rapid growth phase, or when analysing a potential takeover target. Even though advisory boards have no legal liabilities, it is recommended that a charter is established upon formation to document their limited authority and non-binding advice. It is also important that when inviting potential advisory board members, it is clear what is expected of them, both in terms of their limited authority and the commitment that is involved. Aspects such as meeting times, hours involved, and the need for professional practices should all be established upfront. You also want to make sure that you are getting the right mix of skills on the advisory board to suit your needs. An advisory board can provide many benefits to a company but like many of governance principles, they work best when specifically tailored to meet the objectives of the company.

Phil Butler is Manager - NFP, Public Sector & ACT at the Australian Institute of Company Directors.. For more information about AICD ‘s course programs and events, T: 02 6248 5954.

ESTATE PLANNING

by Stephen Bourke

The sole purpose of your SMSF

Those who have self-managed superannuation must remember that all the members are trustees. The trustees have the responsibility to ensure that the fund meets all the regulatory obligations and remains what is termed a “complying fund”. This means complying with all of the standards imposed by the ATO through superannuation law. One rule which is easily overlooked is the Sole Purpose Test. This requires a fund to operate for the sole purpose of providing benefits for members at retirement or death. The fund should not be used as an ATM or credit card in the event that a member may be in need of cash, however temporary. Nor can the fund be used to fund cash flow problems in a business. This includes making loans or investments in related parties. Who is a related party? A related party is defined under the Superannation Regulations as any of the following: • Another member of the fund; • An employer sponsor of the fund; or • An associate of an entity referred to in 1 or 2. The term “associates” is a far reaching definition. It includes relatives of members, other members of the fund, other directors of a corporate trustee, a partner of a member including spouse and any children, a trustee controlled by a member and their associates, or a company controlled by a member and their associates. It is designed to ensure that trustees do not use others to avoid the reach of the ATO. An SMSF therefore cannot lend money to a company owned by a member of the fund or their family. So if you have an SMSF and your business is short of cash to pay creditors, you cannot simply borrow the funds from your SMSF to pay your creditors – otherwise the purpose of the loan is not an investment of the fund to boost retirement savings but is being used to fund your business. Whether that loan is necessary to save your income and, perhaps, your family home is immaterial. This is what happened in JNVQ & Commissioner of Taxation [2009] AATA 522 (14 July 2009). In the JNVQ case, the trustees of the fund made loans to a company which happened to be a company controlled by one of the members. This was a contravention of the superannuation operating standards because the trustees had made a loan to an associate of the one of the members of the fund. The AAT found that the fund was not being used for the sole purpose of building retirement savings but being used fro business purposes. The fund was found to be non-complying. This finding carries serious tax consequences for the trustees of the SMSF, including tax at the top marginal rate not just on the income but also on the value of investments. Nearly 50% of the fund can be wiped out. Being a trustee of an SMSF is a position of trust – what lawyers call a fiduciary obligation. There can be serious consequences for your retirement savings if the rules are not observed.

Certus Law specialises in superannuation, trusts and estate planning. Visit Certus Law at Level 5, 28 University Avenue, T: 6268 9090, www.certuslaw.com.au

HEALTH

By Robbie Manzano

COMMERCIAL PROPERTY

A life changing opportunity …

I established my company Healthy Identity because I have a passion for public health, having spent six years studying nutrition and coaching science at university level. I am also continuing to study and am currently completing a graduate certificate in Public Heath from Curtin University.

So basically through Healthy Identity I am striving to improve, maintain and promote health at individual, group and community levels. So what, you may ask, am I intending to do with all of this knowledge? Well, first I have developed programs tailored for individuals in relation to fitness, nutrition and lifestyle. Secondly I have developed programs for groups (such as age appropriate and corporate groups) and thirdly I have a larger goal of influencing the wider community though nationwide health promotion. So basically through Healthy Identity I am striving to improve, maintain and promote health at individual, group and community levels. Also as a qualified Tennis Australia coach member I can incorporate tennis into all of the Healthy Identity programs that I have developed. What makes Healthy Identity different? My programs not only target nutrition, exercise and lifestyle, but also their social and physical environmental determinants. So what, you are asking, are these ‘social and physical determinants’? These include issues such as ‘time management’, ‘shopping habits’, ‘food in the workplace’, ‘team building’, ‘food preparation’ and ‘capability’. A lot of health programs will concentrate on strict regimes addressing one of these areas. For example weight loss through exercise, weight loss through fad diets. You won’t get any of that spin with me. My goal is to influence the way we approach perceptions of a healthy lifestyle. Over the next 12 issues I will be outlining in more details how Healthy Identify can work with you, your business or department and the community, to change lives forever. It seems like a big goal but all it takes is the right information, commitment and support and I believe we can start to make lasting, life changing improvements in the health of our communities. Please contact me to discuss how I can assist you, your team or your organisation to live a healthier life.

Robbie Manzano is founder and managing director of Healthy Identity. Robbie has degrees in Human Nutrition and Coaching Science from the University of Canberra and is currently completing a Graduate Certificate Public Health from Curtin University. robbie.manzano@healthyidentity.com.au 0423 366 014

by Andrew Smith

Timing the move

We regularly deal with tenants who are reaching their lease end date and haven’t left themselves enough time to source and consider the options that may be available to them. This causes significant stress as people rush around trying to secure new premises or negotiate a new lease with their current landlord. Some forward planning and knowledge of the timeline required to facilitate a stress free move are critical in getting your business the best possible result. Although this would not suit in every circumstance, as each tenant has differing requirements, the following is a generic timeline, attempting to allow you a reasonable and stress free amount of time to consider a move. • 12 Months from Lease end date – Start thinking about the following criteria for you premises: • How much space do we need? • What locations would we consider? • What standard and amenity needs to be at the premises? • How many staff are we accommodating? • What is our budget for rent? • Do we have a budget for fitout? • 9 Months out – Have a defined list of criteria that you can use to shortlist between sites. • 6 Months out – Inspect a broad range of properties (at least 5 and probably 8 or more). • 5 Months out – shortlist down to 2 – 4 preferred sites and ask for proposed leasing terms from each Lessor. • 4 Months out – Negotiate with 1 or 2 Lessor’s on final terms. • 3 Months out – select preferred site and request formal lease documentation from Lessor’s solicitor. • 2 Months out – Execute lease documentation for new premises and provide any required guarantees and proof of insurance • 1 Month out - Be operational in new premises, allowing enough time for make good at existing site. • Lease End Date – Obligations at existing site finish. Assumption – No fitout was required at new premises. Tips – 1. Obtaining multiple offers allows you to compare the terms that lessor are willing to provide. 2. Viewing a large number of properties serves as a double check of your criteria and helps for you to be able to compare sites against each other. 3. Speak to commercial property agents, as they will know what space is coming up over the next 12 months. 4. Review your current lease to understand your end of lease responsibilities.

Andrew Smith is the Director at Ray White Commercial 17-23 Townshend Street Phillip 2606 T: 02 6162 0681 | www.rwcanberra.com.au

TRAINING

By Karen Nicholas

STRATEGIC FINANCIAL ADVICE

Calling all industry experts

The Certificate IV in Training & Assessment qualification is one of the more popular qualifications in the vocational training sector, with 36,600 enrolments in 2011. Why? Well in part because it is a fantastic set of skills for anyone in the human resources or workforce planning space, but also because it is the minimum requirement for those wishing to deliver training or conduct assessments in Australia’s Vocational Education & Training sector.

Training organisations will also value your involvement in reviewing training materials, in developing content, or in validating assessment. Training Organisations rely heavily on the training and assessment skills of our practitioners but also on their vocational competence. For some it can be a challenge to ensure trainers and assessors have up to date industry knowledge and whilst return to industry programs help in part, the preferred approach at Learning Options is to engage only trainers and assessors who have recent and preferably ongoing employment in their industry. So as an industry expert, what could this mean for you? Perhaps you have spent years in your sector working your way up, but now find you would like a change? Or maybe you are keen to continue your employment but would like to pick up a day here and there delivering training, or marking assignments. Training organisations will also value your involvement in reviewing training materials, in developing content, or in validating assessment. Each of these could present a contract opportunity for you that may enable you to change your career path whilst drawing on your years of investment in your industry sector; to pick up some additional income; or to give back to the industry sector you are passionate about and skilled in by helping develop tomorrow’s workforce. If you are not sure if your industry skills are relevant, take a look at the list of training packages at http://www.tpatwork.com/ and if your industry is listed, there is bound to be a training company that can use your technical skills in some way. A word of advice though: Don’t select the cheapest or shortest qualification you can find on this one. It’s worth paying a little more to do as much of this course as you can in a classroom. After all, one of the best ways of becoming a great trainer is by firstly being a student.

Karen Nicholas is the Director of Learning Options Level 3, Endeavour House 2-10 Captain Cook Crescent Griffith ACT 2603 T: 6260 6677 | F: 6260 6300 www.learningoptions.com.au

by Sara Caggiano

Safeguarding your personal assets

How directors or owners of small and medium-sized enterprises can protect their assets against creditors or litigants in case something goes wrong. While many company directors and business owners rely on professional advice to assist them with their business, they often fail to invest in safeguarding their personal assets. Even business succession plans are often too focused on the business and fail to look at the owner, their family, lifestyle and wealth. In some cases, this poor personal planning can result in costly outcomes. Complex family circumstances, significant wealth and valuable assets, require effective planning and preservation that will protect you and your family.

The sooner you begin safeguarding your assets the better What is a personal wealth asset protection plan? Protecting your assets is about using sophisticated and legally permissible techniques to ensure that they are secured should something unexpected happen. For example, protecting the family home is important, but can be complicated. The home and other real property can often be at risk if held in an individual director’s name. A well-developed asset protection plan doesn’t just look at appropriate structures, such as trusts or companies, but also considers tax-minimisation, estate planning strategies and intergenerational wealth plans to provide personalised and holistic solutions. Who would benefit from an asset protection plan? Most people need some form of asset protection, but it’s especially important for individuals who are: • officers or directors of an organisation • operating a business or engaged in a profession • engaging in riskier activities, eg property development • litigation targets, eg those in the public eye or who are perceived to be wealthy, and • anyone with significant personal or business assets. The sooner you begin safeguarding your assets the better protected you and your family will be. Starting sooner can minimise costs. And, because every person’s situation is different, there is no “one size fits all” solution so seeking professional advice is important. Perpetual Private advice and services are provided by Perpetual Trustee Company Limited (PTCo), ABN 42 000 001 007, AFSL 236643. This article has been prepared by PTCo and is dated April 2012. It contains general information only and is not intended to provide you with advice or take into account your objectives, financial situation or needs. You should consider whether the information is suitable for your circumstances, we recommend that you seek professional financial, tax and/or legal advice.

Sara Caggiano is a Senior Financial Consultant at Perpetual Private Level 6, 10 Rudd Street Canberra P: 6243 6507 | www.perpetual.com.au

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MINISTER’S MESSAGE

Red Tape

ANDREW BArr

ACT DEPUTY CHIEF MINISTER TREASURER MINISTER FOR ECONOMIC DEVELOPMENT

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t’s no secret that red tape poses a burden on businesses. I’m sure all business owners and managers can recall a story or two about having to get to grips with an annoying regulation that simply doesn’t make sense. Regulations, of course, have an important role in ensuring our society functions in accordance with accepted norms and laws. However, businesses should not have to deal with pointless regulations that stifle activity, creativity and getting things done. This is why the ACT Labor Government is committed to cutting red tape. Last month I was pleased to chair the first meeting of the ACT Government’s Red Tape Reduction Panel. The purpose of the Panel is to: • Identify regulations that impose unnecessary burdens, costs or disadvantages on business activity in the ACT; and • Recommend ways to remove and improve regulations that are outdated, unworkable and illogical. The Panel brings together business experts to focus on specific problems facing businesses. We will examine what laws and regulations don’t work or don’t make sense. And we have a clear mission to fix them. In the coming months the panel will be consulting directly with local businesses. In the meantime, we would like your feedback. We want to hear your stories of the gripes and queries you have about doing business here in the ACT. Fixing red tape won’t happen overnight. This Panel is a long-term project and will progressively identify and remove red tape. But doing so is something to which this Government is committed. However, where we can implement change quickly and immediately remove unnecessary burdens, we will. There are several changes that Cabinet will be considering shortly, with a view to implementing them in early 2013. The Government believes in creating an

environment in which local businesses can thrive and grow, and to creating a diverse and successful private sector. Removing red tape is just one example of our commitment. We are committed to market-based policies and actions to broaden employment, business activity, growth and investment. In other words, we want the private sector to continue being a driver of economic activity, which is particularly important at a time when the federal government is contracting spending and employment. The Red Tape Reduction Panel was just one of the many initiatives in the Growth, Diversification and Jobs – A Business Development Strategy for the ACT, which I issued in April. The Strategy outlines how the ACT Government will support the private sector in the years to come. If you have any ideas you would like to discuss about how the Panel can make it simpler and easier to do business in the ACT, please contact the Economic Development Directorate: www. economicdevelopment.act.gov.au The Panel members are: Andrew Barr, Minister for Economic Development (Chair) David Dawes, Director-General, Economic Development Directorate (Deputy Chair) Peter Strong, Executive Director, Council of Small Businesses of Australia Chris Peters, Chief Executive, ACT and Region Chamber of Commerce and Industry Chris Faulks, Chief Executive Officer, Canberra Business Council Brett Phillips, Executive Director, Office of Regulatory Services If you are interested in offering an apprenticeship/ traineeship or employment to a young person who is leaving Bimberi Youth Justice Centre please contact the Transition Teacher at Bimberi on 6207 3528. It has been said many times that it takes a whole village to raise a child. The ACT Youth Commitment gives all members of our community the opportunity to the growth and development of the next generation of entrepreneurs.

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A S S O C I AT I O N S T O B U S I N E S S

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Canberra’s Business Community

y role allows me to meet various local business owners daily. It is extremely satisfying to meet with business owners and make them aware that we are able to provide advice on critical elements such as Workplace Relations, Employment and Education and the importance of networking and advertising. Canberra is a fantastic community, and we offer our members the same sense of community. I am extremely proud to work for the Chamber and I am rewarded daily knowing that we are making a difference by helping businesses to achieve their goals. The Chambers expert staff enable us to deliver an extensive and professional range of services to members. Our Workplace Relations team provides business specific services for employers including a Workplace Relations Hotline for information on wages, award matters and access to member’s rates on services such as Workplace agreements, termination, redundancy procedures, occupational health and safety and workers compensation. In addition, we can represent your business in the Fair Work Australia Commission on claims such as unfair dismissal. The team conduct regular workshops providing information to employers and representatives on a number of topics including Bullying & Harassment and Managing & Training your Customer Service Team. As of 1 January 2012, the ACT Government now requires contractors to possess an Industrial Relations and Employment Obligations Certificate (IRE Certificate) in order to be eligible to bid for, or participate in, work on an ACT Government building project. The ACT & Region Chamber of Commerce & Industry has been authorised to assess applications by contractors wishing to obtain an IRE Certificate. Further staff training and development is not only of benefit to employees, it is of benefit to your business. This has shown to be useful in retaining valuable staff; you are willing to financially invest in them and in return they remain loyal, hard working and happy in their roles. Our Employment, Education and Training team offer a vast range of opportunities for your business. Our Education and Training Adviser can offer information and advice

on nationally recognised vocational qualifications for your staff and any other education and training issues. The Ready team seeks and establishes sustainable partnerships between education and training providers, business and industry, parents and family and community groups. The team develops effective programs that support young people so that they remain engaged or re-engage in education or training and realize their full social and economic potential. The varied networking events offered at the Chamber aid in building strong professional relationships, providing you with an environment in which you can discuss concerns and issues with likeminded people. These events also provide an opportunity to share your achievements and keep up to date with what is going on in your business community. The Young Business Network, Women in Business and Business after Business events provide opportunity not only for employers but for employees also. The Young Business Network for example is a skill developing network and covers topics such as ‘Overcoming your Fear of Public Speaking’. The Chamber continues to lobby business views to government on legislation in a wide range of areas including work cover, education, employment, planning, skills shortages, parking and other policy issues. The Chamber works closely with political leaders and Government to create positive outcomes for business. Staff members sit on a variety of committees and advisory bodies such as the Educational Ministerial Round table, ACT Worksafety Council, Red Tape Reduction Panel, the ACT Taxation Review Roundtable and Australian Chamber of Commerce & Industry Workplace Policy Committee. I am focused on providing members a key point of contact and I am always available to assist with any queries they may have. I ensure I develop a long lasting relationship with your business, which is crucial for a mutually beneficial relationship. If you would like further information with regard to Chamber services and membership, please contact Jo Madsen, Business Development Manager on (02) 6283 5232 or jo.madsen@actchamber.com.au

JO MADSen

BUSINESS DEVELOPMENT MANAGER ACT & REGION CHAMBER OF COMMERCE & INDUSTRY

Corporate Sponsors ACTEWAGL, 104.7 / Mix 106.3, Prime TV, The Canberra Times, The Good Guys Tuggeranong, Duesburys Nexia, Synapse Worldwide, B2B in Canberra. Associates and Affiliates Retail Traders Association, Australian Industry Defence Network Foundation Member Australian Chamber of Commerce & Industry

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A S S O C I AT I O N S T O B U S I N E S S

Red Tape

CHRIS FA U L K S

CEO CANBERRA BUSINESS COUNCIL

AFFILIATED WITH

Principal Members ACTEW Corporation, ActewAGL, Blue Star Printing, Brookfield Multiplex Services, Cre8ive, Canberra International Airport, CanPrint Communications Pty Ltd, Elite Sound & Lighting, eWAY, Hindmarsh, ISIS, KPMG (Canberra), Master Builders Association (ACT), National Australia Bank Limited, National Museum of Australia, PricewaterhouseCoopers, Staging Connections (ACT), The Village Building Company, Toshiba (Australia) Pty Limited, TransACT 40

A U G U S T 2 0 12

ed tape imposes a significant cost on business – time, dollars and resources. Whether its filling out endless paperwork; trade licensing; having to apply to multiple agencies to obtain approvals or the never-ending low-level rules that appear to be arbitrarily enforced; whether its filing and certification requirements; reporting; investigation; inspection; and enforcement practices – excess bureaucracy and regulation are a cost on business that reduces productivity and makes them less competitive. The Business Council of Australia (BCA) has stated that businesses big and small deal daily with the dead hand of red tape and inefficiency and that the different rules and regulations in Australia’s nine jurisdictions are a major drag on our economy and a huge cost to business and consumers. The VECCI-Commonwealth Bank Survey of Business Trends released in July 2012 showed that 81.3% of businesses surveyed reported that government compliance processes are impacting negatively on their business. Businesses stated that their compliance burden had increased particularly over the last two years and that the costs associated with compliance – internal costs and costs associated with seeking external, third party expert advice - had increased markedly. In March this year the Prime Minister set up a formal advisory group to work through the Council of Australian Governments (COAG) to help to identify and cut unnecessary red tape. At its meeting in April this year COAG announced it was meeting the red tape challenge. Policies and commitments to cut red tape are often popular around election time but experience shows that unless governments are particularly resolute and have buy-in at all levels, campaigns to reduce red tape mostly fail. In March 2008 the then Federal Minister for small business, Craig Emerson said “red tape” was one of the key priorities that needed attention. Fast forward to March this year and a media release from the Shadow Minister for Small Business, Bruce Billson, pointed out that since Labor was elected to the Federal Government in 2007 it had introduced over 16,000 regulations that affect business and repealed just 79. I suppose that is one interpretation of paying attention to red tape! Closer to home, the ACT Government has

established a Red Tape Reduction Panel as part of its Business Development Strategy to identify outdated, unnecessary and burdensome regulations which place onerous demands on business. The intentions of the Minister for Business, Andrew Barr, are genuine in attempting to reduce the compliance costs of small business in their dealings with government and to remove regulations that hinder competition or stifle innovation. But without political leadership and the full support and absolute commitment of his colleagues and a coordinated effort across the entire ACT public service, it is going to be a challenging mission. History demonstrates that as one unnecessary regulation is identified and removed others are frequently being drafted and introduced across other areas of the same bureaucracy and government. Strict adherence to a one-in-one-out policy for introducing new regulations would be a good start - if only to focus attention right across government on the ever-increasing volume of red tape and regulations. At the very least there needs to be robust vetting of proposed regulation, fine-tuning of existing regulations that are considered necessary and the jettisoning of redundant regulations. Maybe we should follow the European Commission and hold a competition with prizes for the most innovative suggestions for reducing red tape and unnecessary bureaucracy. Another suggestion is to use the ACT Government’s recent Digital City announcement to identify more efficient ways for government to interface with business. On-line registration, tendering and reporting would be a sensible first step. Canberra Business Council has offered to assist the ACT Government to identify examples of regulation, red tape and enforcement practices that are onerous or outdated. The Council is holding a series if industry-specific forums throughout August 2012 to discuss red tape and identify regulations that impose unnecessary costs on business. If you are interested in helping to identify specific examples of unnecessary or burdensome red tape and regulation that we can bring to the ACT Government’s attention contact the Council on (02) 62474199 or email me at ceo@ canberrabusinesscouncil.com.au

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A S S O C I AT I O N S T O B U S I N E S S

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Market in Focus: Indonesia

The ACT Exporters’ Network provides a forum for exporters to network, share knowledge and expand their export activities. In the past 10 years, the Network has helped local ACT firms promote their goods and services into Europe, Asia, the Middle East and North America.

Being able to share experiences, share knowledge and encourage each other in their exporting journey, while drawing on assistance from those that provide assistance and support for exporters, is what the ACT Exporters’ Network is all about. More recently the Network has been focusing on supporting members develop business in our near neighbours. As part of this strategy the Network is pleased to announce the first ACT Trade and Investment Mission to Indonesia in February/March 2013. The reasoning behind the mission is very simple, Indonesia is simply too important to Australia for us to ignore. You may not be aware but Indonesia : • Has a population of over 240 million and is rich in natural resources, • Is predicted to be the 10th biggest economy in the world by 2020, 8th biggest by 2030 and fourth biggest by 2040 (Citigroup) - that’s bigger than Japan, Germany and all other countries except China, India and the USA – will this be achieved? Who can tell? - but these are serious predictions supported by well-informed

international analysts, • Has four Australian University graduates in its cabinet, including one who went to Canberra High School, • The Indonesian economy is already bigger than Australia’s in Purchasing Power Parity (PPP) terms and is expected to be at least twice as big well before mid-century, and • There are already a number of ACT companies doing good business in Indonesia The specific market opportunities for ACT firms centre on the products and services that we are good at providing. In preliminary discussions with Austrade, they have identified three specific opportunities ideally suited to ACT firms • Capacity Building – human resource development, corporate social responsibility, ethical business practise, ethical government practise, document management etc • Food Security – improving the supply chain, transportation management, cold storage, etc • Infrastructure – waste water management, water management, roads, bridges, etc Being able to share experiences, share knowledge and encourage each other in their exporting journey, while drawing on assistance from those that provide assistance and support for exporters, is what the ACT Exporters’ Network is all about. If you would like to be involved in our events, or find out more about the Network or the Mission to Indonesia, please visit our website (www. actexportersnetwork.com.au) or contact the Canberra Business Council on 6247 4199.

BRENT J U r AT o W I T C H

PRESIDENT, ACT EXPORTERS’ NETWORK

For more information on the ACT Exporters’ Network visit actexportersnetwork.com, or contact the Network’s manager, Craig Malcolm, on 0438 808 233, Craig.Malcolm@ canberrabusinesscouncil.com.au. The ACT Exporters’ Network is proudly sponsored by the ACT Government, Canberra Business Council, the Centre for Customs & Excise Studies and AusIndustry.

p ro p erT Y YOUR MONTHLY LOOK AT PROPERTIES AND PROPERTY RELATED INDUSTRIES IN THE ACT

Interested in purchasing an investment property? Lend Lease & Dixon Advisory invite you to learn about the benefits of a property investment through a Self-Managed Super Fund. Buying property with super can be incredibly rewarding. Pay zero capital gains tax, reduce your income tax and take charge planning your own self-funded retirement. With help from the experts at Dixon Advisory, this seminar is designed to educate you on the potential benefits that can be achieved using a Self-Managed Super Fund (SMSF).

YOU WILL LEARN ABOUT

• The mechanics of an SMSF • The benefits that make SMSF the preferred super solution for many Australians • Investing in property through super • Current investment opportunities in the residential property market

Don’t miss out on your chance to take control of your retirement. WHERE LEND LEASE Level 13 SAP House, Canberra Centre, Cnr of Bunda Street & Akuna Street, Canberra City, ACT Date Thursday 16th August 2012 Time 12.30pm Light lunch will be served 1.00pm Seminar commencement AND 5.30pm Canape’s & drinks 6.00pm Semiar commencement Cost RSVP

$10 per person /$15 per couple Please RSVP by Monday 13th August 2012 Contact Michaela on 02 6173 0677 or email springbankrise.reception@lendlease.com

B2B PROPERTY

Benefits of a strong community bank model

he Community Bank Model brings massive financial benefits to the Canberra and Queanbeyan communities. Much of the bank’s profits come from home loans to customers. The continuation of that profitability relies on a healthy economy, a competitive building industry and sensible planning policies and land release programs. Any imbalance threatens an industry that provides a huge percentage of the territories revenue and the profits that flow from the Community Bank to the community. There are real pluses in working in Community Banking, it allows community minded people to act in cooperation with the community to achieve mutual goals which make our community a better place to live in. It’s a genuine opportunity to opt in, define and own local issues and work for change. Community banking is a metaphor for so many other aspects of community life. Canberra is so often and so inaccurately referred to as a city without a soul. Yet every day I see people putting others first and making life a bit easier for them. Lately I have been working to assist some new arrivals to our city – refugees with some very big challenges in front of them and it has been a privilege to watch how diverse groups across Canberra, voluntary organisations, unions and

Calwell, Curtin, Jerrabomberra and Wanniassa Community Bank Branches

individuals can come together for a shared objective. Canberra remains the nation’s best kept secret in terms of quality of life, but we need to be vigilant to ensure that all in our community are given the best opportunities to achieve their individual best. The Bendigo model - at its heart is about listening to people and making their objectives happen, working within the community and for the Community. The truly unique part is the distribution of up to 80% of profits back to the community as grants and funding for local groups and charities. It’s logical to want to explore the implementation phase of community initiatives – but rarely does sausage sizzles and chocolate drives produce sufficient profits to allow recurrent commitment to good ideas that benefit the whole community. It’s a matter of pride that since reaching profit in 2007 Molonglo Financial Services has added nearly a million dollars to the capabilities of local clubs, groups and charities to deliver services and benefits to our community. The board generally supports policies and programs that offer the most opportunities to the widest range of people. Canberra and Jerrabomberra’s community banks have achieved great things and continue to provide for the community, especially with initiatives for women and

children, medical facilities and advances in disability services, accommodation and practice. We are lucky to live here, both in terms of day to day livability of the city, and in the longer term with such initiatives as the Arboretum, which is a magnificent example of future thinking and belief. Planting a tree is an act of faith and belief in the future, planting thousands is visionary. Similarly the Community Bank, about to celebrate its tenth anniversary, has sowed the seeds of something that will likely deliver millions of dollars to the community sector in years to come. Canberra is a great city and it deserves to be championed by people who give a damn about the future of the entire community. The Bendigo Community Bank model is about creating an even better level of community amenity, and relies on affordable housing – successful builder business clients, and government agencies able to engage with the building industry and improve the delivery of services to the community. We all need banking services and most of us need business or home loans, but ask yourself if your bank gives 80% of profits it makes from your money back to this community…… unless you are already banking with us…… I doubt it.

Jayson Hinder is Chairman of Molonglo Financial Services MFS operate the Calwell, Curtin, Jerrabomberra and Wanniassa Bendigo Community Bank Branches.

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B2B Half Page_Layout 1 24/04/12 9:12 AM Page 1

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Accommodate Canberra offers a personal corporate or leisure experience in some of Canberra’s most sought-after locations.

B2B PROPERTY

IF YOUR SELLING/THINKING OF SELLING - TALK WITH YOUR ACCOUNTANT NOW

Jason Klose, Managing Director t: 0414 890 286 jason@bbbrokers.com.au www.bbbrokers.com.au n last months article you would have seen the following: From 1 July 2012 until the year 2029, there is going to be a constant supply of businesses on the market. The first of the baby boomers turned 65 years old in 2011 and population statistics show the birth rate of baby boomers growing every year for the next 18 years. Therefore it is going to be a buyers market for sometime.

Good businesses will sell. Armed with this knowledge sellers need to ensure they structure their business properly to give it every chance of selling. This includes pricing the business accordingly, financials up to date, secure leases, openness during the sale process and understanding what is motivating the buyer to consider your business. Good businesses will sell. The market will play a role in the price

you achieve, however what influences the sale price and time to sell the most is how presentable, desirable, marketable and financeable you make it for buyers. Brindabella Business Brokers Sales 2012 financial year Even though it is a buyers market, it just means you need a broker that will work hard to sell your business. To give you some indication, Brindabella Business Brokers achieved a total of $2.9m in business sales for the 2012 financial year. These sales did not come easy, but in the end we had happy sellers and happy buyers. This level of achievement was brought about by ensuring businesses are presented properly, talking with buyers on a regular basis, being available to talk on short notice and ensuring we are armed with the knowledge buyers/accountants are looking for - financials and income tax returns. Talk with your Accountant Now If you are currently selling your business or thinking of selling your business you need to let your accountant know immediately. Anyone looking at buying a business will put more weight towards one that has its financials up to date i.e. 2012 financial year completed. Therefore you need to advise your accountant you require your business financials and income tax returns completed sooner due to you selling your business. If you leave it until you have a buyer, you may pay the steepest price of all, losing the buyer as you were not prepared to sell your business. The less risk you present to the buyer - the increased chance you will have of selling.

CABINET LOUNGE BAR

DELI AND SALAD BAR

Absolute steal this business but owner has instructed it must sell. Like new ﬁt out worth approx $500,000. Full commercial kitchen, cool rooms, open bar, state of the art sound system.....the list goes on. ready for an existing bar owner or someone new to the market....will not last long.

he current owners have spent approximately $145,000 on ﬁtting out and the equipment of this Deli and Salad Bar. The owners have instructed to sell this 2 1/2 year old business for less than half its cost.

5 year lease with 5 year option Lease $5,048 per week + GST | Price $165,000

ICONIC QUEANBEYAN RESTAURANT If you have been looking for a proﬁtable restaurant, with little owner involvement and includes a near new ﬁt out of the whole premises- this is the restaurant you have been looking for. This restaurant has traded under the same name for 35 years in Queanbeyan and very iconic with both Queanbeyan and Canberra. Owners Return for 2011 $230,000 - little owner involvement

Sales for 2011 $1,711,000 | Gross Profit 2011 67% Rent per week $2,250 + GST | Offers Over $600,000 + SAV

2012 Sales $430,000 | Gross Profit 39% Rent per week $1,180 + GST | Price $70,000

CANBERRA CERAMICS AND BATHWAREONLINE.COM.AU Canberra Ceramics is a very well known business within the Canberra region. Its current location on Gladstone Street in Fyshwick has been a tile shop for almost 40 years. open 5 1/2 days a week. Very good business for someone working in the construction industry or a DIY. Business is providing the owner very good 6 ﬁgures every year. Fit out of approximately $500,000, Further details provided on ﬁnancials on making a time to meet.

New 4 year with 4 year option lease. Lease $2,300 per week | Price $365,000 + SAV

Contact Jason Klose on 0414 890 286 for more information or visit www.bbbrokers.com.au

Commercial

Deakin 2 King Street ‘A’ Grade Office Accommodation

Waramanga 9 -11 Waramanga Place Long Term Investment, with Strong Returns

Lease

•

Areas from 230m2* - 964m2*

•

Excellent natural light

•

• •

Modern & innovative architecture Andrew Smith 0409 600 471 Designed to achieve 4.5 Aaron Green 0406 177 339 NABERS ratings 6162 0681 rwcanberra.com.au

•

Ample public parking

View By Appointment

Aproximately 691m2* NLA

•

Net annual income: $147,000*

• •

Sale

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$675,000 Well established tenant, 10+10yr View By Appointment lease in place from Aug 2010

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Base Rent of $56,000* + GST

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Block size 300m2*

•

Great investment

Aaron Green 0406 177 339 6162 0681 rwcanberra.com.au

Commercial

Canberra

Phillip 68-70 Dundas Court Fully Leased Investment Opportunity •

Ideal location in thriving Waramanga Shopping Centre

Sale

Harrison 148 Flemington Road ‘Fusion’ Ground Floor Commercial Strata Units

Sale/Lease

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Unit 163 - 86m2*

By Negotiation

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Unit 164 -79m2*

Two long term secure tenants

View By Appointment

•

Onsite parking at rear

Troy McGuinness 0413 499 735

•

Excellent natural light & exposure Troy McGuinness 0413 499 735 Units offer own amenites & A/C 6162 0681 rwcanberra.com.au

6162 0681 rwcanberra.com.au

•

Each unit has 2 oniste car parks

•

Would suit a wide range of uses

View By Appointment

* Approx

Commercial

Canberra

Commercial Kingston 15 Tench Street ‘Griffin Hotel’ Rare Commercial Space • • • •

Superb location across from the Kingston Shopping Centre Excellent exposure fronting Tench, Giles & Jardine Street 9 individual gr floor tenancies of 54m2* - 588m2* for sale Board range of uses including restaurant, personal service and office

Sale By Private Treaty View By Appointment Andrew Smith 0409 600 417 6162 0681 rwcanberra.com.au

Commercial Canberra

Fyshwick 9 Quilpie Crescent Flexible Options, DA Approved Blocks • • • •

Block 6 - 2247m2*, Block 7 - 2716m2* DA approved to build 2500m2* warehouse/office DA approved to consolodate both blocks To be sold individually or in one line

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Plans available on request

* Approx

Auction Thursday 23rd August at 10:00am Venue Ray White Auction Room Doug O’Mara 0412 485 181 Andrew Smith 0409 600 471 6162 0681 rwcanberra.com.au

Commercial Canberra