Find Manningham 2022 - December Edition

SMSF Funds face Crypto issues in the face of the FTX collapse

ACCOUNTANT

By Warren Strybosch

The FTX collapse is creating significant issues for SMSF trustees as they try to obtain valuations for lost assets and calculate the CGT payable on previously held Crypto.

FTX was a Crypto exchange platform founded by Sam Bankman-Fried. Most of his wealth, which peaked at an estimated $26.5 billion, was tied up in ownership of about half of FTX and a share of its FTT tokens.

In November 2022, FTX faced a liquidity crises. Rival exchange Binance considered buying portions of the company but after some due diligence, quickly pulled out of the purchase.

Soon after Binance pulled out there followed some tweets regarding FTX and questions about some missing billions that had disappeared from the exchange – keep in mind the exchange was to manage other people’s money and was not meant to be used to prop up other companies. Apparently, this is what happened. Funds were taken from FTX and used to prop up a fund manager that had lost millions and was looking to collapse. Unfortunately, even with the funds taken from FTX the fund manager collapse and the funds taken from FTX disappeared overnight. Millions of investors lost their crypto investments overnight; the whole exchanged just closed. It is estimated that 30,000 Australians have been impacted by the closure of FTX.

A key accusation leveled against Bankman-Fried is that he used customer funds from his crypto exchange to fund risky bets at affiliate trading arm Alameda Research

With the closure of FTX many SMSF investors who had money invested in Crypto on the FTX can longer download any data or transactions from the FTX exchange. The site is blocked and any trustees trying to obtain information regarding their Crypto assets that were previously held on the FTX exchange are going to find it rather difficult.

We’re currently in the middle of the financial year and we have already spoken to client’s whom we know have been using FTX to try and see if they can obtain any information regarding their trading prior to the closure. It is a responsibility of SMSF Trustees to keep accurate records of all investments held in a SMSF so, if they cannot obtain these records then they could be facing a potential breach and at this point in time we are not sure what the auditors or ATO are going to do about it.

We are hoping some clients were using software that tracked their individual trades up until the FTX collapse. Alternatively, those clients who did not use external tracking software might have to go through individual emails and try to recreate their record – basically, it is going to be a mess for accountants and auditors where FTX is involved. For funds or investors that have lost assets or who currently have crypto assets frozen, the ATO has

given some limited guidance on their community pages.

That ATO has stated that Cryptocurrency is a capital gains tax (CGT) asset and if it looks like a C2 event which effectively means that as long as there’s no chance of reclaiming that asset, that it is really lost, then you can potentially claim it as a capital loss. So you may be able to write off those losses as a capital loss. It is likely we are going to see a lot of losses across several SMSF for the 2023 financial year.

There is some discussion on ATO Community Forums that it would not be considered a G3 event which relates to liquidation of shares and where you generally have to wait for the liquidation notice. Which, if this is the case, will be a relief for investors, trustees, accountants and auditors alike.

If you are going to invest in Crypto, we strongly suggest using external software outside of the exchange that captures each trade and to run these reports regularly throughout the year.

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

Warren Strybosch

Easy DIY remedies this summer

NATUROPATH

By Kathryn Messenger

Sunburn, scrapes, bites and stings often go hand in hand with enjoying being out in nature over the summer break. Below are some natural remedies that are supported by research, that you can prepare yourself this summer.

Calendula is part of the marigold family of flowers, and the flowering head can be used medicinally both internally and externally. Externally, both current research and traditional use, show it to aid in wound healing for ulcers, burns (including sunburn), incisions, and insect bites, reducing inflammation and healing time. The best way to prepare calendula is to soak the flower heads in an oil - nut oils are best as they are high in vitamin E which also improves skin healing. After a couple of months, strain the oil and apply it to burns and wounds, this can be used throughout the year. A cooled strong tea made from the flower heads and water can also be used topically on skin conditions if you have run out of time. If you keep it in the fridge, it will last for a couple of days.

Chamomile is another herb that can be used on the skin, and is more readily available. Once again, the flowering head is used and excellent results are seen when taken internally and externally. When consumed as a tea, it is calming to the digestive system, and externally for wound healing, eye inflammation, as well as for muscular and nerve pain. As with calendula it can be infused into an oil or used topically as a strong tea. For use as an eye bath, only use a cooled tea.

Aloe vera can also be used on skin conditions, and it is so easy to use. Simply break of part of the leaf and squeeze the gel onto wounds, bites, or burns (including sunburn). The gel contains vitamin C and E, as well as zinc, which have all been shown to improve wound healing.

If you suffer from travel sickness, don’t forget ginger. It has antinausea and antiemetic properties, and a recent study specifically on travel sickness found it to greatly improve both nausea and vomiting. Ginger can be consumed in a number of ways: from a tea, to a slice of fresh ginger, crystalised, glazed, or as a tablet.

A homeopathic first aid kit is an effective way to treat ailments yourself. My kit covers issues from digestion, skin, headaches, respiratory and more. For more details on my kit, go to my website. website

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

GENERAL INSURANCE

By Craig Anderson

There are questions that have only a yes or no answer, and you will find some of these types of questions on your insurance renewal forms. For a Home and Contents policy, the question may be, “Is the property in poor condition or poorly maintained”, to which everybody invariably answers “No”. This may not in fact be true, and you may be unaware you are misleading your insurer.

For example, if you have a valley iron on your roof which is not visible from the ground and it is full of debris from an overhanging tree, or have cracked tiles, missing bedding, or loose flashing etc. then you have not maintained your house properly like you promised. As you have already sworn to the insurer as part of the legal contract of insurance that you do maintain it, you may have a claim rejected when the cause is determined by the assessor to be “poor maintenance”. Sudden and unexpected ingress of water due to storm damage should be covered, but if the main contributing factor that created the claim is poor maintenance, then do not be surprised if the claim is declined.

So how much should you reasonably be expected to know as a homeowner? The answer may vary, but good practice would have you (or your competent tradesperson) maintain anything that can be accessed even if out of sight. Typically, destruction caused by animal, bird, insect, vermin or rodent eating, chewing, clawing, pecking, nesting or soiling in a single incident or over a long period of time is excluded. This means you should be doing your best to prevent this from occurring, as the insurer will not be footing the damage bill.

Regular pest inspections and treatments are a great way to prevent and treat serious infestations. Given that the price of replacing a house is in the hundreds

Un-Covered

of thousands and the cost to spray for termites is often below one thousand it seems like a good deal to me. Termites also like damp ground, so maintaining good stormwater drainage and keeping your sub-floor dry is a good thing to do. Preventing water saturation around footings, stumps, and slabs can avoid subsidence and heaving too, which if caused by blocked and broken drains over time, will not be covered either. Sudden and unexpected pipe ruptures are mostly covered, but years of seepage would not be. So ensure your stormwater, sewer, and mains water systems are checked and if necessary repaired before serious damage occurs.

Your policy is not a “cure-all” or “Magic Bullet” so you should understand the extent to which you are covered, and act accordingly. Policies vary depending on their type and the insurer who issues them, so do not assume anything, and if you need clarification (after reading the

PDS) ask the provider who sold it to you to provide it.

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

www. heightsafetyinsurancebrokers.com.au 0418 300 096

Find Group

STRYBOSCH

Managing big life changes

AGED CARE SERVICES

By Warren Strybosch

You’ve probably heard the saying ‘change is as good as a holiday’. And sure, in some situations, altering your circumstances can be refreshing. But not all major life changes make you feel immediately clear, secure, and ready to take on the world. When everything you know is turned upside down, moving forward successfully is not a quick snap – it’s a transitional process.

Navigating through the darkness before the dawn is tough. Conversely, many people struggle with sudden good fortune. The good news is, countless people like you have been there before. They’ve struggled with decisions and made mistakes so that you don’t have to.

The most stressful life (and financial) events.

According to the Holmes Rahe Stress Scalei, the biggest life events you may have to overcome include:

Buying a home

Involuntary unemployment

or separation

Pregnancy or gaining a new family member

Major changes to business

Moving into Aged Care

How to deal with sudden changes

So what do all these life events have in common? Basically, they induce psychological states where you’re more likely to be emotional and reactive than logical and rational. This can lead to poor outcomes which only fulfil your short term needs, or worse, cause further detriment to all involved. There’s only one way to remove yourself from that reactive state – mindfulness. Mindfulness means being self-aware, having the ability to see your situation from an outsider’s perspective, and thinking before you act. Here’s how you get there:

• Get a mentor. A friend, family member or amenable acquaintance who has been through what you’re going through. They’ll be able to give you a fresh perspective and (evidence-based) hope for the future.

• Take it one day at a time. And if you don’t think you can get through a day, try a shorter time period. As a wise TV comedienne recently said, “You can stand anything for 10 seconds. Then you just start on a new 10 seconds.”

• I n a similar vein, concentrating on small tasks, one at a time, can help make a seemingly impossible task seem much more manageable. For example, take income insecurity. You may be feeling anxious because you don’t know how to pay for all of the expenses you currently have. But listing your expenses in priority order can help clarify just how little you have to spend to get by.

• I t’s a good idea to have scheduled ‘down time’ while you’re going

• through a major change. Whether it’s meditation, exercise, a massage, shopping, or a good old snooze, mark it in your diary –and don’t let anyone cross it out. This can help prevent you from feeling overwhelmed at other times – such as when you’re making an important financial decision.

• Take action. Putting off work involved with a major life change just means the stress snowballs. Even taking a small step can help take the pressure off. For example, if you’re feeling a bit restless about being retired, enquire about a volunteering position. You don’t have to make a commitment, but you’ve opened yourself up to the possibility of contributing your skills to a cause.

• Ask yourself how much of your situation you can really control. Try to be objective – pretending you’re giving advice to a loved one can help. Letting go of what you can’t control allows you to spend mental energy on what really matters.

Hindsight is 20/20 – when to reassess after change

After you’ve made it through to the other side of a major life event, it’s important to reassess your financial situation. You may think that you’ve dealt with all the financial implications. But doing a review of your finances can still yield benefits...

If you’ve recently been through a big change, get in touch with us to help reassess and plan for a prosperous future.

time to CLEAN

YOUR FINANCES?

FINANCIAL PLANNER

By Erryn Langley

Spring and Summer are a time of renewal and regrowth, a time to dust off the cobwebs and let the sunshine in, and it’s also a good time of the year to take a look at your finances.

It’s been a challenging year on many fronts and spending a day getting on top of the state of your finances, putting some measures in place to make some savings, could be time well spent.

Try to arrange your financial spring clean on a weekday so you have scope to call banks, credit card issuers, health insurers, and other financial services providers who are easier to contact during office hours. And you will also need all your tools — financial records, current tax return, mortgage, credit card and bank statements — close at hand. Internet access is also important as there are many things you can do on line.

Hitting the target

So, what are your objectives? Well, there are two sides to this coin. The first objective is to put more $$ in your pocket by saving a little more of and spending a little less of your income, without making your life a penny-pinching misery in the process. The second is to discover some cheaper ways, if they exist, to pay for some of life’s essentials.

Start at the beginning by reviewing your monthly budget — or constructing one, if necessary — so you can pinpoint the big expenses before trying to pare them back. Take your power bills, for

example. Some power companies will not only reward you with a discount for combining your gas and electricity, they will also allow you to pay them with a pre-set monthly direct debit, avoiding the shock of that big quarterly hit and smoothing your cash flow.

Monthly payments or saving targets can be an excellent budgeting tactic. In fact, you can even create your own monthly debit system for major expenses such as school fees, annual holidays and Christmas by estimating the cost and transferring monthly instalments to a separate savings account. You’ll most likely be able to setup automatic transfers with your bank so your savings build over time, without a second thought.

If you can manage it painlessly by cutting one or two unnecessary expenses, one good outcome of a budget review would be to save an extra 1 per cent of your salary — just $1 out of every $100 you earn — for a major objective like a renovation or even pumping up your rainy day fund. The best budgets can be ruined by unexpected emergencies, whether it is a burst water heater or a change in your financial circumstances.

Smart moves

Once you have your budget review completed and have set up new direct debits and/or opened one or two new dedicated savings accounts, you should still have a few hours of your Financial Spring cleaning day left to look for some significant savings on financial services. Credit cards are a black hole in many budgets. Could you save by switching to a cheaper card? Are you paying off your card within the interest-free period? What about rewards programs

— if you are paying for them, are you using them? Some supermarket reward programs now offer a “double reward” so it may pay to investigate your options. You can compare cards online at several sites such as www.creditcards.com. And if you do decide to change card companies, you might find one that will give you an interest rate holiday for the first 3–6 months as a reward for switching.

A recent Choice survey found 82% of Australians are concerned about health costs, making it the main household cost concern. Your current health insurance plan may be worth reviewing because your family circumstances might have changed since you took out the plan, or the market may have newer, more flexible options providing better value. There are many sites that allow you compare plans, including a Government comparison website www.privatehealth.gov.au

Planning ahead

And finally, have a think about your goals and dreams and make sure that any decisions you are making in the present are not at the expense of your future financial security.

All done? Congratulations on a day well spent!

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 Alliance Wealth Pty Ltd ABN 93 161 647 007 (AFSL No.449221).Part of the Centrepoint 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.

MORTGAGE BROKERING

By Reece Droscher

For some time now if you have a SelfManaged Super Fund you have been able to borrow from a Financial Institution to buy a property for investment purposes. Many SMSF’s have taken advantage of this option to invest in bricks and mortar, however before you start heading to property inspections and dreaming of building a property portfolio to support you in retirement, there are some things you will need to know about how lending to an SMSF works and which lenders will support this type of finance.

SMSF PROPERTY RULES

Buying a property inside a SMSF comes with a particular set of rules and regulations to which the trustee of the SMSF must comply.

1. The property must not be lived in by fund members or any related party.

2. The property must be acquired for the sole purpose of providing retirement benefits to fund members.

3. The property cannot be rented to fund members or related parties.

There is one exception to the rules above and that is where a SMSF purchases a commercial property that is to be occupied by a fund member’s business. The business can occupy the commercial premises but must be paying market rent. Buying property inside a SMSF also comes with higher costs. To enable the SMSF to buy a property a special holding trust needs to be established, and the property is placed in the name of this holding trust, so there are additional costs for this to be set up.

SMSF members are also required to obtain legal and financial advice as part of the buying and borrowing process.

SMSF BORROWING

Borrowing for property using your SMSF comes with very strict conditions, and as such not many lenders currently offer loans to SMSF’s. These loans are classed as ‘limited recourse loans’ which means that if a SMSF defaults on a loan, the lender’s only recourse to repay the debt is limited to the property asset held in the SMSF. They cannot access any other assets within the SMSF.

Loans to SMSF’s are more costly to lenders who participate in this market, so interest rates and establishment fees applied to these types of loans are significantly higher than loans provided for buying property in your personal

Planning To Buy A Property In Your SMSF? What You Need To Know

name. Be aware that rates above 6% are common for these types of loans. There is no correlation between the rate applied on a standard Home Loan and the rates applied on a SMSF property loan.

SMSF’s are solely responsible for meeting the repayments on the loan. Rental income from the investment property combined with super contributions on behalf of the fund members are the primary sources used by lenders to determine the borrowing capacity of the SMSF. The cash liquidity position of the fund is also a contributing factor, as there must always be sufficient cash in the fund to meet the loan repayments even when the investment property is vacant.

Lenders are therefore more conservative when it comes to gearing levels for loans provided to SMSF’s. Most lenders will not allow a SMSF to borrow more than 80% of the property value, however this will depend on the type of property being purchased. In some instances, say for commercial property or residential property in some regional areas, the percentage may be reduced to 70% and potentially lower, so the SMSF would need to contribute more cash towards a purchase than a natural person.

Furthermore, a property purchased within a SMSF cannot be altered or renovated to change the character of the property until the SMSF loan is repaid. Borrowed funds can be used to cover repair and maintenance costs, but any alterations or renovations which are classed as improvements must be paid for through the accumulated funds of the SMSF and cannot change the asset type. For example, a property originally purchased as a standard residential home cannot be altered to become a medical practice as this changes the asset type to a commercial property.

PARTICIPATING LENDERS

Due to the highly regulated and specialised nature of this type of lending,

most lenders in the market do not offer SMSF lending as part of their suite of products. However there are a few lenders still remaining in this market, such as Latrobe Finance, Liberty and Think Tank.

There are also a number of private lenders who offer these products, however it is always best to speak with a mortgage broker who has experience in these types of transactions, as they will be able to help you navigate the complex lending process and ensure that you are able to access the most appropriate product to suit your needs.

BEFORE YOU START LOOKING FOR A PROPERTY TO BUY….

If you have a SMSF, or are thinking about establishing one, please ensure that you get the right team of experts to provide you with advice before you make the decision to buy property and borrow through your fund. That would mean speaking with your financial advisor to determine whether to buy property would align with your investment strategy, and getting legal advice to ensure the SMSF structure is in place to allow for a property to be held in the fund.

Should the advice suggest that buying property inside your SMSF is the best option for your retirement planning strategy, and finance would be required to facilitate this, ensure that your mortgage broker has experience in SMSF lending. Due to the complex nature of these transactions a lot of mortgage brokers have not participated in this market. At SHL Finance we have assisted many SMSF’s through the complex finance process and work with your financial advisor to ensure the lending solution aligns with the investment strategy.

Please call Reece Droscher on 0478 021 757 for any SMSF lending requirements.

Manningham

Passionate about how Council rates are spent? This is the survey for you!

To do this, we need to know what’s important to you.

“Our current budget is delivering a $65.17 million capital works program and more than 100 services for our community, and now it’s time to prepare for the next financial year. I strongly encourage residents to take part in the survey before it closes on December 15.”

Through the Budget and 10 Year Financial Plan Council is committed to:

• Building a better Manningham by creating, upgrading and maintaining infrastructure such as roads, drains, bridges, footpaths, cycleways and sporting and community facilities.

Manningham Council has launched a survey to ensure the 2023/24 Budget and 10 Year Financial Plan delivers in the areas that mean the most to the community.

Manningham Mayor, Cr Diedre Diamante said Council would invest in projects that support and benefit the diverse community and ensure the organisation was well placed to deliver for future generations.

“We’re a financially sustainable Council, committed to spending your rates wisely and providing community services, facilities and programs that suit your needs.

• Planning our future by ensuring facilities deliver on the needs of our community, unlocking the potential of our assets to improve financial sustainability, developing ways to protect public and private property through flood management and investing in innovation.

• Taking action to protect our environment through climate change mitigation, biodiversity, reducing waste to landfill and environmentally sustainable designs.

Community survey feedback will contribute to the Draft 2023/24 Budget and 10 Year Financial Plan to be endorsed for community consultation at the 23 May 2023 Council Meeting. The final version will be considered by Council on 27 June 2023. Complete our survey before Thursday 15 December by visiting yoursay.manningham.vic.gov.au/budget-2023-24

Carols spectacular to light up Ruffey Lake Park tonight!

After years of enjoying the local tradition with her family, Manningham’s new Mayor is thrilled to be opening the 39th Carols by Candlelight tonight at Ruffey Lake Park.

“After attending the carols with my family for the past fifteen years, it really is an honour to be able to open them as Mayor tonight,” Cr Deirdre Diamante said.

Pre-show entertainment will begin at 6.00pm and will feature two of Australia’s most popular children’s acts, Team Dream and soloist, Bethany Fisher.

Families can enjoy a range of activities offered by this year’s sponsors, including face painting, colouring competitions, Santa photos and opportunities to win great prizes.

The spectacular main concert will rock the stage from 7.30pm, featuring Chris Sebastian, winner of season 10 of The Voice Australia, known for chart-topping hits, I found you and Hard to get to love. The concert is a great way for Chris Sebastian fans to get ready for his new releases and Australian Tour next year.

“I cannot wait to get on stage this Friday at the Manningham Carols. I’ve got my favourite Christmas songs locked and loaded it’s going to be such a good night,” said Chris. Carol goers will also be spoilt by performances from more stars from the popular TV series, including Cassie McIvor, Aydan Calafiore and Jael Wena. Manningham local and international vocalist Cassie McIvor is often remembered for her show-stopping audition singing It’s all coming back to me now.

The main concert will also feature Richard Thomas, The Amore Duet, Zoe Sunday, Bethany Fisher and Alinta Burnell. Soloists will be accompanied by The All-Star Carols band, led by local award-winning music director John Turcio, and the Manningham Concert Band. A night at the Carols wouldn’t be complete without a fireworks finale! Council will light up the sky for a five-minute display around 9.30pm.

This evening’s carols are proudly sponsored by local Manningham businesses Barry Plant, Silverstar Motors, Aurora Early Education, Pizza Forno and Westfield Doncaster.

Council News

GoGet carsharing arrives in Manningham

Manningham Council and carsharing service GoGet have launched an 18-month carshare trial.

Carsharing offers individuals the opportunity to access vehicles on demand for short periods of time. Once registered to GoGet, drivers can pay a fee to hire a vehicle for an hour, a day, or longer – with fuel, insurance, registration and maintenance all covered.

There are eight carshare vehicles located at various locations in Doncaster Hill. Manningham Mayor Cr Deirdre Diamante said carsharing can deliver significant health, economic, environmental and community benefits.

actions that Council and the Manningham community can take. Manningham’s adopted climate mitigation targets are:

• net zero emissions by 2028 for Council operations

• net zero emissions by 2035 for the Manningham community

Community members can vote on the best ways for Manningham to achieve these goals by taking part in a poll available here: https://pol.is/22jxwtadzj

The poll closes on Sunday 20 November 2022.

**One carshare vehicle, in an on-street dedicated space, replaces 10 privately owned vehicles. This frees up nine vehicles worth of street space for the local community and reduces CO2 released from production and destruction of nine vehicles.

“We’re exploring new ways to evolve Manningham’s transport network and provide the community with more sustainable and affordable transport options,” she said.

“When people drive less and own fewer cars, we’ll see reduced traffic congestion, greenhouse gas emissions and on-street parking demand.

“The GoGet trial will help us understand the demand and interest for carsharing in Manningham and inform our future transport planning,” Cr Diamante said.

*Seventy per cent of Manningham residents drive their car to work and more than 60 per cent of households have access to two or more vehicles, compared to 51 per cent in Greater Melbourne.

Council is currently developing its Climate Emergency Action Plan, which will include a broad range of climate mitigation

Carshare vehicles are also typically newer than the private car fleet, making them safer and more environmentally friendly. Doncaster Hill was identified as an ideal location for the carsharing service given its:

• accessibility

• proximity to other transport modes

• housing density

• safety and general operation.

This initiative has been identified and guided by Council’s Liveable City Strategy 2021, Transport Action Plan 2021 and Doncaster Hill Modeshift Plan 2014.

For more information on the GoGet carsharing trial and to view vehicle locations, visit www.manningham.vic.gov.au/ goget-carshare-trial.

To learn more about Manningham’s Climate Emergency Action Plan, visit yoursay.manningham.vic.gov.au/climateaction.

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 David Bill (Pictured) A brief insight into David’s working life, his involvement at Donvale Bowls Club, and the successful experiences it has provided.

He was born in Melbourne, May 1936 and remembers his early years being wartime, his father a Wing Commander in the Airforce.

David’s schooling included four years at Carey Grammar followed by four years at Melbourne High School, completing his matriculation certificate.

National Service in the Airforce at Laverton constituted part of those early years.

Law was considered as a career but ultimately pursued a career in design, qualifying in both interior and industrial design at RMIT.

His first job a carpet designer for BACM where he acted as chief designer at an early age. Carpet design was purely a means to an end and replaced by a keen wish to design and manufacture office furniture which he did for several years.

Following a failed marriage which included the birth of two daughters, David met Elizabeth, (or Liz as she is fondly known at our bowls club) marrying in 1975.

It was at this time David developed and patented a modular building system which was adopted in several residential applications. AV Jennings saw the system and bought David out, on the condition he joined the company for two years.

After completing a couple of local medium density residential projects, David and Liz moved to Queensland in 1981, purchasing a caravan park at Redcliffe ultimately turning the park into a 44-unit retirement village.

This was followed by the purchase of the Redcliffe Drive-in which he designed and built a 120-unit retirement village.

In the late 80’s David and Liz came back to Melbourne buying a house in Lower Templestowe. During this time David’s daughter Carol moved to study in Boston USA, ultimately marrying a fellow student and settling there affording Liz and David the opportunity to make numerous trips to the USA, assisting Carol, her husband Matt, their two adopted boys to build a family home.

In the early nineties David and Liz moved back to Brisbane taking on the management of a company manufacturing transportable homes for caravan parks on land applications. David designed and built some of the first two-story transportable homes in Queensland ultimately winning both the Queensland and Australian design awards for special accommodation with his two -story product.

David and Liz returned to Melbourne in 1999, but instead of retiring, for five years, David pursued building granny flats around Melbourne finally retiring in 2006.

Having learnt a little of lawn bowling in Queensland the lure of a bowling green still existed, David joining the Donvale Bowls Club in 2008, closely followed by Liz in 2009.

For David and Liz, the club retains so many happy and ongoing memories for them both.

How fortunate we are they chose Donvale, their contribution to our club and administration, immeasurable.

David Bill