Find Manningham_April 2023 Edition

• Bookkeeper

• Bowen Therapy

• Builder- Commercial

• Business Equipment Financing

• Business Insurance

• Cabinets

• Caterer

• Graphic Designer

• Plasterer

• Chinese Medicine

• Chiropractor

• Creative Director

• Commercial Mortgage

• Computer Repair

• Computer Web Design

• Concrete

• Copywriting/Copy Editing

• Counselor/ Psychotherapist

• Dentist

• Digital Media

• Electrical Operations

• Electrician

• Finance Bookeeper

• Financial Planner

• Fitness Trainer

• Flooring

• Pilates

• Garage Doors

• General Insurance

• Health & Wellness Coach

• Homeopathy

• Lactation Consultant

• Lawn Care

• Lawyer

• Life Coach

• Loans

• Marketing

• Massage Therapist

• Meditation/Yoga

• Mortgage Broker

• Naturopathic Medicine

• Nutrition

• Osteopathy

• Painter

• Personal Trainer

• Photographer

• Plumber

• Podiatrist

• Printer

• Project Management

• Psychologist

• Real Estate Rentals

• Real Estate Sales

• Reiki

• Residential Cleaning

• Residential Mortgage

• Security

• Signs

• Solar

• Solicitor

• Travel Agent

• Website Developer

• Wedding Planner

About the Find Manningham

By Warren Strybosch

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

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

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

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

To help support the paper, we invite local business owners to sponsor the paper and in return we will provide exclusive advertising and opportunities to submit articles about their businesses. As a community we encourage you to support these businesses/columnists. Without their support, we would not be able to provide this community paper to you.

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

and rolling out over the coming years. Our aim is to help as many NFP and other like organisations to raise much needed funds to help them to keep operating. Our fundraising initiatives will never simply ask for money from you. We will also aim to provide something of worth to you before you part with your hard-earned money. The first initiative is the Find Cards and Find Coupons – similar to the Entertainment Book but cheaper and more localised. Any NFP and similar organisations e.g., schools, sporting clubs, can participate.

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

We value your support, The Find Manningham Team.

anningham The

EDITORIAL ENQUIRES:

Warren Strybosch | 1300 88 38 30 warren@findnetwork.com.au

PUBLISHER: Issuu Pty Ltd

POSTAL ADDRESS: 248 Wonga Road, Warranwood VIC 3134

ADVERTISING AND ACCOUNTS: editor@findmanningham.com.au

GENERAL ENQUIRIES: 1300 88 38 30

EMAIL SPORT: sport@manningham.com.au

WEBSITE: www.findmanningham.com.au

OUR NEWSPAPER

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

ALL THINGS MANNINGHAM

The City of Manningham is a local government area in Victoria, Australia in the north-eastern suburbs of Melbourne. Manningham had a population of approximately 125,508 as at the 2018 Report which includes 27,500 business and close to 45,355 households. The Doncaster and Templestowe Council administered the area until December 15, 1994.

ACKNOWLEDGEMENT

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

DISCLAIMER

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

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Rainhead Revisited –your annual reminder

GENERAL INSURANCE

By Craig Anderson

As we head into the cooler months, and the leaves start to pile up in your gutters at work as well as at home, I’m here to remind you about preventative maintenance. Your insurer has a fair and reasonable expectation that your building will be maintained in a serviceable condition; and under certain circumstances, they can deny a claim if they feel the building has been damaged as the result of negligence. Blocked gutters and downpipes are increasingly the cause of unnecessary water ingress claims due to poor maintenance. However, this is only part of the story. Stormwater pits and pipes also need maintenance and as a result of being out of sight, are overlooked frequently. When they back up due to a blockage, huge volumes of water can

enter your building with catastrophic results, when gutters and downpipes can’t discharge the rainwater fast enough, or perhaps not at all.

Often the cost to maintain stormwater systems is cheaper than paying the policy excess and having your home or business damaged, not to mention the stress a water ingress event adds to your life. It’s certainly cheaper than paying the resultant damage yourself if a claim is rejected. Insurance renewal premiums can be impacted, resulting in ongoing increased costs to you, and deteriorating claims history does not make you attractive to a new insurer either.

I am seeing insurers become more focused on these types of claims due to the massive jump in storm related claims, and I can say from recent experience they will dig in their heels if they believe neglect is involved, or if they believe a

system is inadequate. Hopefully this little reminder might save you a painful claim.

For a “health check” of your business insurance, contact Small Business Insurance Brokers via email: sales@ smallbusinessinsurancebrokers.com.au

Any advice in this article has been prepared without taking into account your objectives, financial situation or needs. Because of that, before acting on the above advice, you should consider its appropriateness (having regard to your objectives,needs and financial situation).

Craig Anderson

GENERAL INSURANCE

Small Business Insurance Brokers

0418 300 096

The Advisor Innovation Summit is back in 2023 with a focus on how advisers can adapt to transform and thrive in the future.

As the advice industry copes with economic uncertainty and generational shifts in wealth management, the highlyanticipated Adviser Innovation Summit is returning this year to arm advisers with the strategies they need to flourish in an ever-changing landscape.

Taking place over two days — 8 and 15 June 2023 — the summit will unpack how advice practices could revamp their business models to succeed even when the market is volatile and deliver cost-effective advice, boost efficiencies, and meet compliance requirements. The IPA conference, also over two days, will provide delegates with key information to enhance their technical knowledge, understand emerging

Warren Strybosch

management and professional skills and discuss thought-provoking insights on professional and ethical standards.

The summit is aimed at financial advisers, fintech consultants, executives, IT and compliance managers, practice managers, product managers, and decision makers. The IPA conference is aimed at accountants or accounting technicians.

One of the industry leaders, Warren Strybosch, will be one of the speakers at this year's summit. He will be joined by other industry leaders to discuss the latest data and strategies that could help other advisors transform their practice into an accessible, compliant, well-oiled machine, and look at the opportunities and threats unique to the financial planning industry. Warren will also be speaking at the Institute of Public Accountant

(IPA) Conference this April. He will be joined by other thought leaders in the accounting profession to discuss ethical standards in the accounting profession.

The Advisor Innovation Summit and IPA Conference will push advisers and accountants to reimagine their operational structures and find new practice efficiencies to provide quality advice.

You can read the full article about the summit here: https://www.ifa.com.au/ news/32536-adviser-innovation-summit2023-to-future-proof-advice

If your an IPA member and would like to attend the IPA Conference, you can read more here: https://www. publicaccountants.org.au/events/ conferences/2023-cape-schanckhybrid-conference

I am excited to announce that I’ll be speaking at the Cape Schanck Hybrid Conference.

Why you need to advertise on google

DIGITAL MARKETING

By Ethan Strybosch

In today’s digital age, having a strong online presence is essential for any business looking to succeed. One of the best ways to increase your visibility and reach potential customers is through advertising on Google. With over 5 billion searches conducted on Google every day, it’s a platform that no business owner can afford to ignore.

In this month’s article, we'll explore some of the key reasons why businesses should advertise on Google.

Firstly, Google Ads allows you to target your ideal audience with precision. By selecting specific keywords, locations and demographics, you can ensure that your ads are shown only to the people who are most likely to be interested in your products or service. This level of targeting ensures that your advertising budget is being used effectively, as you are reaching the people who are most likely to convert into paying customers.

In addition to precise targeting, Google

Ads also allows you to track your results in real-time. This means that you can see exactly how many people have clicked on your ads, how much each click is costing you, and how many conversions you are getting from those clicks. Armed with this data you can quickly and easily adjust your campaigns to improve your return on investment.

Another benefit of advertising on Google is that it’s incredibly scalable. You can start with a small budget and increase it. Over time as you see positive results. This allows you to test different strategies and find what works best for your business without committing to a large investment upfront.

Google Ads also provides a range of ad formats, including text ads, image ads, and video ads. This means that you can choose the format that works best for your business and target audience. For example, if you have a visually appealing product, you might want to use image ads to showcase it to potential customers.

Finally, advertising on Google is a great way to stay ahead of the competition. If your competitors are advertising on

Google and you’re not, they may be capturing potential customers that could have been yours. By advertising on Google, you can ensure that your business is visible to anyone searching for keywords related to your industry, giving you a competitive edge.

In conclusion, advertising on Google is a smart investment for any business owner looking to increase their online visibility and attract new customers. With precise targeting, real-time tracking, scalability, a range of ad formats, and the ability to stay ahead of the competition, Google Ads is a platform that should not be overlooked. If you’re not already advertising on Google, now is the time to start.

If you have any more questions, please reach out to:

info@elmedia.com.au or contact us at www.elmedia.com.au

IS NOW THE BEST TIME TO FIX THE RATE ON YOUR HOME LOAN?

MORTGAGE BROKERING

By Reece Droscher

As a mortgage broker one of the most common questions I receive from clients is whether they should fix the interest rate on their Home Loan. With the Reserve Bank pausing rate increases, at least for this month, some economists are now suggesting the cash rate may actually fall later in the year depending on inflation results. In the current climate the timing and length of time to fix a rate could save you, or cost you, thousands of dollars.

Given the current interest rate climate is now the best time to fix the rate on your Home Loan? There are advantages and disadvantages to locking in your interest rate which would determine if fixing your rate is the best option for you.

Advantages

1. Security

When you fix a rate on your Home Loan you are guaranteed that the rate will not change for the period you have fixed for. This means your repayments will also remain unchanged which is helpful for household budgets.

2.

Potential Money Saver

If you are able to fix your rate at the right time you could save money on interest, potentially thousands of dollars.

3.

Some Flexibility

Most lenders will allow borrowers to make additional repayments when they have a fixed rate loan without incurring a penalty. It is most common for any extra repayments to be capped at a maximum $10,000 per year. Some lenders also offer the ability to have an offset account linked to the fixed rate loan to help reduce interest costs further,

although these are generally only partial offsets usually 40%. For example if you had a $1,000 balance in an offset account only $400 of that balance would be offsetting your loan.

Disadvantages

1. Penalties may be payable for early repayment

If you become dissatisfied with your lender, decide to sell your home or you simply want to take advantage of better deals elsewhere, when you are locked in to a fixed rate you could be charged a substantial interest penalty to break the contract. A complex formula is used to determine what the loss to the lender would be if the fixed rate contract is broken which is outlined in any Home Loan Contract. This penalty could offset any benefit you received by locking in originally.

2. Most flexible features are unavailable

Flexible features that are standard on most variable rate loans are either not available or offered with reduced benefits on a fixed rate loan. Offset is typically not available, or only offered as partial offset which reduces the effect it has on interest saving, and redraw is also not available on fixed rate loans.

3. Potential to lose on the interest rate bet

Fixing a rate is effectively betting that the fixed rate will be lower than the variable rate for the time you choose to lock in for. In a volatile interest rate environment, where variable interest rates are dropping, if you have a fixed loan your rate will not reduce. The inflexibility of the fixed rate which is great in stable environments can be a curse at other times.

4. Potential for higher repayments once the fixed rate expires

A large number of borrowers have fixed their rates at historically low rates for the next few years. Once these rates expire the new interest rate will have increased significantly during this period, so their loan repayments will be much higher than what they have been used to paying.

Split Loans

If you can’t decide which option is the best one for you it is possible to hedge your bets. Lenders also offer a split loan option which means you can have a portion of your loan at a fixed rate and the balance on a variable rate.

By splitting your loan you retain the flexible repayment features of a variable rate loan, as well as having some of your loan locked away securely on a fixed rate for a few years.

It is always a great idea to speak with a mortgage broker who can guide you through the process, advise you on which loan structure would suit your needs best and recommend the most suitable lender to meet your requirements.

At SHL Finance we are available to speak with you at any time. We are already proactively helping our clients negotiate a better rate with their current lender, reviewing their existing loans and discussing ways to potentially save clients thousands of dollars. We would love the opportunity to help you too.

Please call Reece Droscher on 0478 021 757 to discuss your options.

Should retirees pay off their mortgage at retirement?

RETIREMENT

By Warren Strybosch

With higher interest rates in Australia, it may be a good idea for people who are about to retire to consider paying off their mortgage. Higher interest rates can increase the cost of borrowing, making it more expensive to carry debt, including a mortgage.

Paying off your mortgage can provide several benefits in retirement, including reducing your monthly expenses, providing peace of mind, and freeing up cash flow for other expenses or investments. However, before making a decision, it's essential to consider your overall financial situation, including your retirement income, other debts, and expenses.

Here are some factors to consider:

1. Retirement income: If you have sufficient retirement income to cover

1. your living expenses, including your mortgage payments, it may not be necessary to pay off your mortgage immediately. However, if you are relying on your retirement savings to cover your expenses, paying off your mortgage may help reduce your monthly expenses and provide you with more financial security.

2. Other debts: If you have high-interest debt, such as credit card debt or personal loans, it may be more beneficial to pay off those debts before paying off your mortgage.

3. Tax implications: Depending on where you live, there may be tax implications to paying off your mortgage. It may be worth consulting with a financial advisor or tax professional to understand the potential tax implications.

4. Investment opportunities: If you have a long-term investment strategy, it may be more beneficial to invest your money instead of paying off your mortgage. However, this strategy involves a level of risk, and it's essential to consider your investment goals and risk tolerance.

In summary, with higher interest rates in Australia, paying off your mortgage before retirement may provide several benefits. However, it's crucial to consider your overall financial situation and consult with a financial advisor before making any decisions.

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

Find Aged Care Services is seeking professional ‘aged care’ accredited financial planners to provide advice to those seeking aged care advice in their local area. Are you accredited and can help work with clients to find the best aged care options? Are you able to work with their loved ones and help make the process of transitioning into aged care less daunting and complex? If so, consider listing on our website.

List with us, and we will get you promoted through our website, social media, and local community papers. Why not consider joining the Find Network as a specialist Aged Care advisor and obtain referral leads from the rest of the Find Network members in your area?

How Much Is Our Native Vegetation Worth To Us, The Residents Of Australia?

NATURE & CONSERVATION

By Liz Sanzaro

Some might say, very little, but what they may not realise is that entire ecosystems depend on our original native vegetation. Others understand the importance and are embracing native vegetation in many ways. An interesting example is the native warrigul greens, which is a leafy green plant that is a replacement for spinach, and is now so popular it can be found in the plant section at Bunnings. Recipes for how to prepare it abound on the internet, where chefs of celebrity status have provided their own spin on the recipe. Macadamia nuts are also a fully Australian food, just better known generally for a longer time.

In terms of what we have left of the original native vegetation, that supports our indigenous wildlife, we might only have a strip of land beside a road. In Croydon along Mt Dandenong Rd, there is a special section between Carcoola Rd and Murray Rd. A sign on the land declares it to be State Significant Roadside vegetation right in Maroondah, something to be very keen to protect.

However in Drouin, land that had been grazing land is now being offered to developers under a new State Government initiative called a Special Precinct Plan or SPP. This SPP over-rides the local environmental strategy of Council of Baw Baw, and the consequences are a disaster for all of us collectively.

Croydon Conservation Society stands with Drouin’s trees group, in condemning this wholesale destruction of what actually belongs to us, through our State Government, roadside vegetation land. Some Councils have developed their own roadside management protection plans, to ensure there is no loss of these precious strips of significant roadside vegetation, which provides habitat, biodiversity, shade on the road, important in extreme hot weather, slowing of wind, carbon sequestration, and not forgetting the health benefits of the view and clean air to everyone.

We need to appreciate what we have left in terms of original vegetation, and protect as much as possible. Often road sides provide the best examples of our native cultural heritage in terms of the original growth of plants in that specific region. Clearly the road making itself will have removed a linear strip, and if the surrounding land is owned by locals, the other side of the road reserve will often be farming land, like dairy, sheep, crops, like canola, barley or market garden crops, sometimes there may be no native vegetation left at all.

Because the developer, is allowed to maximise the investment, they are allowed to use the land right up to the boundary. Clearly this land is in the shadow of the roadside trees, and once the land is cleared, these external roadside trees, if retained may suffer from windshear, causing them to blow over in ever increasing wind speeds, across the now barren land so the roadside vegetation is perceived as a threat and then removed to ensure safety in the dwellings. Here is the result.

Along with wholesale vegetation removal at some of the level crossing removal projects, we are losing the habitat, biodiversity and benefits of trees, right at a time where we are looking at ways to prevent further human destruction of our natural heritage. Croydon Conservation Society has a very interesting website, explaining many things relating to conservation, from the value of a single tree (not monetary) to explaining fracking, to acidified oceans and everything else of local interest. If this interests you, you might like to support us by becoming a member, through the contact us tag.

Liz Sanzaro

Through native vegetation

Warrigal greens and Macadamia nut pesto.

Canola fields, with no roadside vegetation

President of Croydon Conservation Society

NATUROPATH

By Kathryn Messenger

Whilst most people will experience reflux with extreme fullness occasionally, often with overeating (think Christmas day!), for some people this is a daily occurrence.

What’s going on?

In healthy digestion, food enters the stomach via the oesophagus through a valve called the lower oesophageal sphincter, which opens only to let food in, then it closes again. Reflux is when this sphincter opens at other times and lets food or stomach acid through, often causing a burning pain in the oesophagus or an acid taste in the mouth.

Why stomach acid is so important?

The acid in your stomach plays a very important role in breaking up foods, killing bacteria (along with other foreign substances like bugs). The stomach is an amazing organ in that the acid can destroy human cells and will burn anywhere else in the body, but the lining of the stomach prevents it from destroying the stomach itself.

The problem with antacids

What most people do when they have reflux, is to take an antacid. This makes sense, of course, since at first glance, the problem is too much acid in the oesophagus. What can happen here though, is that further problems develop because they haven’t treated the cause. The acid is really important in breaking up foods and low stomach acid can lead to reduced digestion. This means that the food sits in the stomach for longer, placing increased pressure on the sphincter, which in turn can lead to increased reflux.

What you actually want to do, is be sure that your stomach has enough acid, strengthen the sphincter, and heal the oesophagus if it has been damaged by the acid. Another important point is that your body produces less acid as you age, so extra care is required as time goes by.

How to increase acid production

Stomach acid is produced when your nervous system is in ‘rest and digest’ mode as opposed to ‘fight or flight’ mode, which I have talked about previously.

reflux - a sour in your mouth

So eating in a calm environment when you’re not in a hurry is a great starting point. Your body will also produce more acid when you think about food or smell food.

This happens when you walk past a restaurant, smell the food and your stomach starts gurgling – it’s increasing the stomach acid ready for digestion. Another way you can do this by stopping work or other distractions 15 minutes or so before eating and think about and smell the food you are about to eat.

What else can I do?

Sometimes it can be helpful to add acid by drinking lemon juice or apple cider vinegar in a little water just before you eat. Be careful not to drink too much water with meals though, as this can dilute the acid in your stomach and make digestion harder, you’re best to drink water away from food by 1 hour. Bitter herbs can stimulate your body to produce more stomach acid and are best taken 15-20 minutes before eating. If you get really stuck, or are already taking medications to reduce your stomach acid, it can be helpful to take digestive enzymes with food so that your body has lots of acid with meals to digest them, then low acid in between. This can also help with other digestive issues such as fullness or pain. There are also some great herbs to heal the lining of the oesophagus if it has been damaged by the acid.

If you can follow your way to the cause of your health issues, you can go much further with your treatment.

Whole Naturopathy can help provide you with natural products such a bitter herbs and digestive enzymes, along with dietary advice for reflux and fullness.

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

Kathryn Messenger

BHSc (Naturopathy)

kathryn@wholenaturopathy.com.au

Suite 1, 24/1880 Ferntree Gully Rd

Mountain Gate Shopping Centre

Ferntree Gully, Victoria

ACCOUNTANT

By Warren Strybosch

Transfer Balance Cap (TBC) were introduced in July 2017 and set in place a limit on how much an individual could transfer from their accumulated superannuation account into their retirement pension account.

The first general transfer balance cap (GTBC) limit was set at $1.6 million and then this increased by $100,000 on 1st July 2021. The mechanism for the increase is covered in the income tax assessment act 1997 (ITAA) with inflation being the key factor as to when and how much it will increase each financial year. Based on recent inflation levels it is expected the increase on the 1st of July 2023 will be $200,000 and take the GTBC to $1.9 million.

For those who are yet to set up a pension and are likely to have assets in super exceeding $1.7 million at 1st July 2023, would want to consider setting up their pension after the 1st of July, 2023 to take advantage of the increase in the GTBC. Remember, if you exceed the GTBC, you are liable to pay tax on the excess transfer balance earnings (excess transfer balance tax). You also need to transfer any excess to a super accumulation account or withdraw it as a lump sum.

For most Australian’s they will not exceed their personal transfer balance cap (PTBC) of $1.9 million. If they are close to exceeding their PTBC, there are strategies that can be put in place to reduce an individual’s funds in their accumulation account and so avoid going over their PTBC. It is important for individuals who believe they might exceed their PTBC to seek financial planning advice ahead of time and not leave it until they are just about to retire.

For those who are already in pension phase, their PTBC could be anywhere from $1.6 million to $1.9 million depending on when they set up their pensions and how much they had in their accumulation account at the time. Everyone will be different and it is not a matter of simply adding $200,000 to your existing PTBC.

For those who are already in the retirement phase of their lives, a Transfer Balance Account (TBC) is required to track an individual's use of their PTBC.

Transfer Balance Caps

WHAT THEY ARE AND WHEN TO REPORT

Transactions are recorded based on the reporting of various events (refer below table). The most common being the commencement of retirement phase pensions and commutations from those pensions.

Debits (deacrease in a account balance)

Commutation of capital value of the pension (inpcludes partial lump sum payments)

Structured settlement value

Family Law payment splits

Losses due to fraud or bankcruptcy

Reduction in defined pensions due to a change in circumstances

Currently, you could report either annually or quarterly with many reporting annually. For SMSF’s it would either be:

• Quarterly reporters – reporting of events required to be lodged within 28 days after the end of the quarter in which it occurs.

• Annual reporters – events to be reported no later than the lodgement of the SMSF’s Annual Return for the year in which the event occurs.

New Reporting laws

From 1 July 2023 the reporting laws will change and everyone, including SMSFs, will be required to report on a quarterly basis.

This will also capture all reportable events that may have occurred in the 2022/23 financial year. In effect, all reportable events that occur from 1 July 2022 – 30 September 2023 will have a reporting date of 28 October 2023.

There will be no grandfathering of the

Credits (deacrease in a account balance)

Value of all retirement phase pension accounts as at 30 June 2017

Commencement value of new retirement phase pension

Commencement of death benefit pensions

National earnings that accrue on excess balance

Repayments of LRBAs commenced from 1 July 2017 where there is value shifting between accumulation and pension phase

old rules either. Funds that were previously identified as annual reporters will be quarterly reporters from 1 July 2023 and will need to consider the above-mentioned reporting date for events that have, or will occur, this financial year.

Existing quarterly reporters do not receive an extension to lodge and will still need to report events from the 2022/23 financial year on a quarterly basis.

Going forward, reporting dates will be:

Quarter Reporting Date

1 July - 30 September 28 October

1 October - 31 December 28 January

1 January - 31 March 28 April

1 April - 30 June 28 July

There will continue to be some instances where reporting must occur earlier:

• Commutations resulting from a member voluntarily responding to an excess determination are to be reported within 10 business days

after the end of the month in which the event occurs.

• Commutations required due to the receipt of a commutation authority from the ATO must be reporting within 60 days of the authority being issued.

Impact for annual client

Many trustees and their advisors would be reporting on an annual basis, especially those who are processing their financial accounts annually. For those trustees of SMSF, who current report annually, will need to put in place processes to remind them to report quarterly should an event occur that would impact their TBA.

Often it is the SMSF accountant or administrator who is lodging the Transfer Balance Account Reports (TBAR), and they also will need to be aware of these new reporting rules and keep an eye out for any events that might require the lodgement of a TBAR.

Thankfully, estimated values of the event can be lodged, with more accurate information reported via an amendment at a later date. However, this does create inefficiencies as the reporting mechanism is often linked to the software the transactions are processed in. Having to create ‘dummy

entries’ in order to lodge a TBAR will result in double handling and increase the chances of errors occurring. We would not encourage this process as this might lead to the further scrutiny by the ATO regarding the specific event being reported.

Late lodgement penalties

Transfer balance account reporting is akin to the requirement to lodge tax returns and activity statements in that, late lodgement may lead to penalties for failure to lodge on time. A penalty unit, currently $275, can apply for each 28 days (or part thereof) that a report is lodged late. Up to a maximum of 5 penalty units.

While the ATO have chosen not to apply penalties for late lodgement to date, it cannot be expected that this will continue. With the streamlining of reporting and having all SMSFs on the same reporting regime, it will be easier for the ATO to start imposing penalties. It is important to note that there is only a requirement to lodge if there are events that need to be reported. Unlike an activity statement, for example, where you may still be required to lodge a nil statement when there is nothing to report, transfer balance account reporting is driven by an actual reportable event.

Given the pending increase in the general transfer balance cap from 1 July 2023 and the implications for personal transfer balance caps, the sooner events are reported, the sooner these values can be correctly determined.

More pressure on accountants

These new requirements are likely to place additional pressures on accountants and administrators of SMSF. It is important for accountants and administrators of SMSF to review their reporting practices to try and avoid late lodgements of TBARs. This is especially important for those clients that have previously been able to lodge their TBARs at the same time as lodging their SMSF Annual Return.

Financial Adviser Warren Strybosch hosted by Ben Nash @findfoundation/videos

Have you had the discussion with your partner?

FINANCIAL PLANNER

By Erryn Langley

Jane (not her real name) rang me up last week. Jane was a member of one of the network groups I attended and I had not seen her around for quite a few months. This was not unusual for Jane as she would often be away on holidays. Jane and her husband love to ski and they would take every opportunity to travel and ski when and where they could whilst doing their work around their skiing trips.

We talked for a while and then Jane wanted to share with me some news… her husband has lymphoma. Her husband had gotten really sick recently whilst they were overseas on one of their ski holidays. Initially, they thought he had a bad cold or the flu but he could not seem to get over it and he started getting worse. They decided to go to the local hospital near the ski fields but received no conclusive answer so they decided to cut short their trip and return to Australia. After seeing their local doctor, they were provided the bad news a week later. Jane, being the fighter she is, told me that it was one of the more aggressive types of lymphoma, which apparently was good news, as it is one of the rarer types that is easier to combat, and has a higher chance of recovery.

I was saddened by the news and when it was appropriate to do so, I asked her a question that no one had yet asked her. I asked her if she knew what personal insurances her husband had in place. Jane had already shared with me during our conversation that their circumstances had changed and she was reviewing all her financial options now that she was looking after her husband. Initially, she did not understand what I meant and I explained that he might have personal insurance cover in super or a policy outside of super and that one of these policies e.g., Income Protection, could help cover some of their medical expenses and/or loss of earnings if a claim was put in. Jane had not even considered this and admitted to me that she had no idea what her husband had in the way of personal insurances. She said she would look into it after she spoke

with me. Jane suggested I should write about this and so here we are.

Personal insurances, such as life insurance, disability insurance, and critical illness insurance, can provide financial security for both you and your partner in the event of an unforeseen circumstance. For example, if your partner were to become seriously ill or pass away, having appropriate insurance coverage could help alleviate the financial burden and ensure that you and your family are taken care of.

Additionally, personal insurances can be particularly important if your partner is the primary breadwinner in your household. Without adequate insurance coverage, the loss of their income could be devastating for your family. However, if they have appropriate insurance coverage, it can provide a safety net and ensure that you and your family are financially secure, even if your spouse/ partner is unable to work.

Furthermore, personal insurances can also provide peace of mind. Knowing that your partner has appropriate insurance coverage can alleviate some of the stress and anxiety that can come with unexpected events. It can help you feel more prepared and in control, knowing that you have a plan in place to handle any potential challenges that may arise.

So, with all these potential benefits in mind, it may be worth knowing whether or not your partner has personal insurances. However, it's important to approach this topic delicately and respectfully. Some people may feel uncomfortable discussing their finances, or may not want to disclose personal information about their insurance coverage even to their partner. It's important to respect your partner's wishes and boundaries when it comes to discussing these topics.

If you do decide to broach the topic of personal insurances with your partner, it may be helpful to start the conversation by expressing your own concerns and priorities. For example, you could explain that you want to ensure that your family

is financially secure in the event of an unforeseen circumstance, and that you're curious about whether or not your partner has appropriate insurance coverage to help achieve that goal.

It may also be helpful to approach the conversation as a team effort. Rather than trying to dictate what your partner should do, work together to explore your options and come up with a plan that works for both of you. This can help ensure that both you and your partner feel heard and respected, and can help you reach a mutually beneficial decision. In conclusion, knowing whether or not your partner has personal insurances can be important for your financial security and peace of mind. However, it's important to approach this topic delicately and respectfully, and to work together as a team to come up with a plan that works for both of you.

If you or your partner require a review of your personal insurances, or would like to know how much cover you ideally should have in place, then consider having a discussion with your local financial planner. If you do not have a local financial planner than reach out to Erryn or Warren from Find Wealth or call Find Insurance on 1300 88 38 30 and they will organise a time for you to speak to an advisor and help you find the right cover in place for you or your family.

Erryn Langley

1300 557 144 | erryn@findwealth.com.au www.findwealth.com.au

Financial Planning is offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth. Find Wealth is a Corporate Authorised Representative (No 468091) of AllianceWealthPtyLtdABN93161647007(AFSLNo.449221).PartoftheCentrepoint Alliance group https://www.centrepointalliance.com.au/

Erryn Langley is Authorised representative (No.1269525) of Alliance Wealth Pty Ltd. This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

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

Silverettes For Breastfeeding

LACTATION CONSULTANT

By Dr. Joanna Strybosch

Silverettes are small, reusable, and ecofriendly nursing pads made from pure 925 silver. They are designed to be worn inside a mother’s bra to promote soothing and healing of sore nipples during breastfeeding. They are made in a small cone shape, to allow a comfortable fit over the nipple without compressing it. When applied correctly, with a drop of breastmilk inside, they will gently suction onto the breast over the areola area and remain in place inside the bra. No additional nipple creams or lotions are required when using silverettes.

Some mothers prefer silverettes to disposable nursing pads because they

are washable, and can be reused for an extended period of time. This makes silverettes an environmentally friendly option to disposable breast pads. They are easily cleaned by rinsing under warm water.

Silver has been used for centuries for its antimicrobial properties. It is believed that the silver ions that occur naturally in 925 silver have antimicrobial, anti-bacterial and anti-fungal benefits. Some studies have suggested that silver may have anti-inflammatory and wound-healing properties, which could make silverettes beneficial for sore and cracked nipples. Silverettes have the added advantage of providing a protective barrier between the nipple and clothing, reducing friction or irritation.

Many mother’s report that silverettes are

effective at healing their sore nipples quickly. It is important to note that research on the effectiveness of silverettes for nursing mothers is limited, and more studies are needed.

In general, if you are considering using silverettes for breastfeeding, discuss this with your healthcare provider or a lactation consultant to ensure that they are safe and appropriate for your individual needs.

Dr. Joanna Strybosch

Osteopath B.App.Sc(Clin.Sc)/B.Osteo.Sc/Grad Dip Paeds LACTATION CONSULTANT

Manningham Have Your Say on the Future of the Outdoor Pool Area at Aquarena

Manningham Council is seeking community feedback on a proposed draft masterplan for the outdoor area at Aquarena Aquatic and Leisure Centre.

The draft masterplan was informed by feedback received during community consultation undertaken between October 2021 and March 2022 and aims to provide clear direction for the future design and development of the outdoor pool area at Aquarena.

The outdoor pool area is a beloved community spot where local families enjoy the water slides, cafe, and water play during the summer months. The outdoor 50-meter pool is also a key sporting and recreational asset that is used by swimming clubs, schools, and patrons of Aquarena all year round.

To ensure that the outdoor pool area can be enjoyed for generations to come, the draft masterplan includes several proposed improvements, including:

• A brand-new toddler splash pad and water play elements.

• An upgraded cafe with more seating (including undercover).

• New tiered style seating on the ‘grass hill’ opposite the 50-metre pool, for school carnivals and race day meets.

• Additional change room and toilet facilities.

• More accessible pathways.

• More barbecues and a new amphitheatre-style seating A new ‘quiet pool’ where specialised programs can be held.

• More shade structures and trees planted to provide better sun protection.

The plan also proposes the removal of the diving pool constructed in 1969 due to its deteriorating condition and low usage rates. The 50-metre pool, also constructed in 1969, is scheduled to be replaced in 2024 to 2026 as part of a separate project.

A copy of the draft masterplan can be found online at yoursay. manningham.vic.gov.au/aquarena-masterplan Feedback on the masterplan can be provided:

• Online via yoursay.manningham.vic.gov.au/aquarenamasterplan

• By joining a focus group

• By attending one of Council’s community information sessions.

Expressions of interest to join a community focus group Council is seeking expressions of interest from members of the community to join a focus group to discuss the proposed changes. The focus groups will be held in early May 2023 with details available upon application.

To apply visit yoursay.manningham.vic.gov.au/aquarenamasterplan

The draft masterplan was endorsed for community consultation at a Council meeting on Tuesday 28 March 2023. Community consultation opens at 10.00am on Monday 3 April and closes at 4.00pm on Monday 15 May 2023.

For more information visit yoursay.manningham.vic.gov.au/ aquarena-masterplan

Council News

Seminar Set To Empower Parents To Discuss Vaping With Young People

Manningham Council’s parenting seminar in May will empower parents and carers with advice on the best ways to discuss vaping with young people.

Attendees of the session, hosted in partnership with Access Health and Community, will learn strategies to facilitate conversations, strengthen their communication style, and minimise harm when talking about vaping.

The session will feature a presentation by an Alcohol and Drug (AOD) Clinician from Access Health and Community, followed by a question and answer (Q and A) session with a panel of experts.

Manningham Mayor, Cr Deirdre Diamante, said she hoped the session would build parents’ confidence in talking about vaping with the young people in their lives.

“This is a serious health issue and, as a mother of teenagers, something that I sadly see a lot of amongst my children’s peers. I know that many parents, carers and even teachers often feel unsure how to approach the issue in a way that will encourage open and honest conversations.”

The seminar was inspired by growing community concern about the increasing number of young people using vape

s and how easy it is to access them. Attendees at the Principals’ Breakfast in June last year (comprising, local school principals, wellbeing staff, community organisations in Manningham, and representatives of Manningham Youth Advisory Committee) ranked vaping as their biggest concern related to young people.

The upcoming seminar is just one of several Council initiatives tackling the issue of young people vaping. Council also conducts regular educational visits to tobacco/e-cigarette retailers across Manningham to ensure they comply with their Tobacco Act responsibilities, and runs a tobacco test purchasing program with the help of a person under 18 years of age.

Session details: Thursday 11 May, 7.00–8.30pm at the Manningham Function Centre.

Cost: $10 (concession), $15 (non-concession). Bookings essential.

For more information and to register your place, head to manningham.vic.gov.au/events/parenting-seminar-how-talkyoung-people-about-vaping

Find Your Local’s 1100 Nominations Bring New Customers to Manningham Businesses

Local businesses nominated during Council’s 30 Faves in 30 Days competition saw new customers wanting to try their products as early as the next day.

“We saw quite a few new customers in store and had more than the usual amount of new social media followers, particularly in the week or two after the cakes category was shared. It’s lovely to reach some new customers.” said Jenny, owner of Miss Sprinkles in Park Orchards.

Part of the broader Find Your Local campaign, the competition was launched last month to get the community talking about their favourite local businesses and sharing their recommendations in 30 different categories.

The competition proved very popular, with locals jumping on board to nominate their favourites for cakes, pizza, gyms, professional services, childcare centres and everything in between. Community members submitted 1103 nominations for over 200 local businesses during the month-long campaign.

Council launched the competition through Instagram,posting a new category every day from 1 to 30 March. Participants either commented on the posts with their favourite local businesses or submitted their recommendations through the online webform.

Manningham Mayor, Cr Deirdre Diamante said the community response to the campaign has exceeded expectations and is a great show of community support for local businesses.

“The response from the community has been delightful. With 537 people nominating, I’m sure many more, like myself, were following along to take note of new places to go and try!”

“It’s fantastic to see so many businesses nominated, and it’s very reflective of the number of high-quality businesses we’re lucky to have in Manningham. I encourage everyone to have a scroll through the Instagram page and make a list of local places to try next time you shop in these categories.”, said Cr Diamante.

The Find Your Local initiative aims to support the marketing activities of local businesses by sharing their products, services and events with the community; and encourage the community to explore local options for the products and services they need.

The next stage of the initiative is to use the Instagram page to promote content from local businesses, continuing to spread the word about the great businesses in Manningham. The Instagram page will feature different local businesses throughout the year, sharing their story and highlighting their latest products, services, events and deals.

Mayor Cr Deirdre Diamante urges businesses to take advantage of this new tool to increase their visibility in the community.

“This new platform is a great way for businesses to showcase their products and services to the local community. It’s also an opportunity for the community to discover new businesses and support their local economy. The page has momentum now and businesses can jump on and ride the wave”, said Mayor Cr Diamante.

Businesses can submit content by adding @ findyourlocalmanningham as a collaborator to their Instagram posts or submitting images or videos and captions through the Council’s webform at manningham.vic.gov.au/find-your-local.

For further information on the Find Your Local campaign, please visit manningham.vic.gov.au/find-your-local.

The businesses nominated by the community for each category were:

Cakes Miss Sprinkles

Dumplings

Dumpling Alley

Local Market Warrandyte Riverside Market

Gym or fitness studio Wellness by PP

Plants

Beasleys

Fish and Chips Shark Tank

Pet-friendly spot

Dogdayz

Coffee Two Doors Café

Jewellery Ruby Tuesday

Gifts Miss Sprinkles

BBQ staples McGregors Meats

Playground Wombat Bend

Avo on toast

3 Monkeys Place

Homewares Interiors by Riveresque / The Yarra Store

Ice Cream Meno Zero

Pizza Slice me nice

Clothing Zabecca Living

Noodles By New age/ppudo/pocha pocha

Souvlaki Alis Jumbo Kebabs

Picnic spot

Jumping Creek Reserve

Fruit and Veg/vegetables Colonial Fresh Doncaster

Hair or beauty

Sanctum

Flowers Donvale Flower Gallery

Walking and bike riding trail Mullum Mullum Creek Trail

Place to discover the arts Heide MOMA

Bakery The Warrandyte Bakery

Professional services Lower Templestowe Dental Excellence

Local producer A Lot of Good Stuff

Deli

Childcare Centre

The Don Deli

First Steps Early Learning

Manningham Council reappoints Andrew Day as Chief Executive Officer

Andrew Day has been reappointed as the Chief Executive Officer of Manningham Council for a further five years.

Mr Day joined Manningham Council in September 2018, following an extensive recruitment process.

Manningham Mayor, Cr Deirdre Diamante, said: “Andrew is an exceptional leader. He has consistently delivered on the strategic priorities of Council. He is present in the Manningham community, listens to our residents, and is focused on improving service delivery in a financially responsible way. The Councillors and I are delighted to reappoint him for a further five year term”

Mr Day said he was thrilled Councillors had given him the opportunity to continue serving the Manningham community.

“It’s a privilege to lead an organisation of professional people who take pride in serving the community.

“There is always more to do and improvements to be made. I look forward to working with Councillors, the Manningham team and our engaged community on the exciting programs and projects planned over the next five years.”

During his time at Manningham Council, Mr Day has led the organisation through the global pandemic, council elections and a change in ward structure, as well as several major emergency events.

Highlights of his tenure include overseeing many new and upgraded sporting and community infrastructure projects, kilometres of new and improved roads, drains and footpaths, the improvement and maintenance of Manningham’s beautiful open spaces and responding to climate change.

Under Mr Day, the organisation continues to deliver a wide range of services to support the community and ensure Manningham remains one of the most vibrant, inclusive and safe municipalities in Victoria.

Council unanimously resolved the reappointment at the March Council meeting following a recommendation by the CEO Employment and Remuneration Committee, in line with the requirements of the Local Government Act 2020.

The Council Report is available here: manningham.vic.gov. au/events/council-meeting-28-march-2023

Donvale Bowls Club is indeed indebted and beholden to many of our beloved characters which define and distinguish it.

One such character at Donvale is Helen Milner A brief insight into Helen’s working life, her involvement at Donvale Bowls Club, and the successful experiences it provided.

With her twin sister Ruth, she attended East Kew Primary School, then on to East Camberwell Girls School, (later known as Canterbury Girls Secondary School).

Finally graduating with Dip. Physiotherapy in 1965, commencing work at Royal Children’s Hospital in February 1966.

In 1967 she transferred to Yooralla Carlton as Senior Physiotherapist.

During this period, she worked at Yea and Alexandra Hospitals (thanks to her father who believed that you always put more into the community than you took out).

At the same time her parents had bought a farm at Strath Creek and the local GP mentioned they needed a Physio. Perfect timing for Helen.

She discovered life on a farm involves hard work and long hours, at the end of her Physio shift she would help her parents building the cattle yards, general farm duties, including the odd mishaps while drenching sheep.

In 1968 she travelled to Canada, working in Galt Ontario for 2 years, once again during shifts enjoying great skiing opportunities.

In 1970 she returned to Melbourne for Christmas, working for Scope (formerly known as Spastic Society of Victoria). During this period, she raised three children, Bronwyn, Tamara, and Zoe.

Locums for Yooralla Balwyn, and Scope. Conducted a private practice (part time) 1976- 2000) Health Department (part time) 1976 -2014 same role, many changes arose, dependent on which political party was in power.

A good deal of her work with the Health Department consisting mainly with premature babies and infants with movement difficulties.

1993 returning to full time work.

Outside of her successful and demanding professional life she found time to follow her father’s advice (“giving to the community more than you take out”).

Treasurer of local Girl Guides

Life member of Warrandyte Tennis Club

Past President Warrandyte Netball Club

And more recent, a valued and committed member of the Donvale Bowls Club.

On the front foot when a job or role at the club needs to be addressed.

A pivotal role “where angels fear to tread” the Selection Committee.

“Helen, we value and appreciate, your input your company, and your contribution to our club”.