Find Manningham January 2025 Edition by Find

anningham The

We are looking for business owners who like to join the

Manningham Network Group and Community Paper.

• Accounting Services

• Acupuncture

• Architect

• Architectural Interior Design

• Attorney- Family

• Auctions- Real Estate

• Bookkeeper

• Bowen Therapy

• Builder- Commercial

• Business Coach

• 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

CLUB SPONSORS

• 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

COLUMNIST CONTRIBUTORS

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.

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

PUBLISHER: Issuu Pty Ltd

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

The

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.

We value your support,

The Find Manningham Team.

anningham

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.

NEXT ISSUE

Chinese New Year In Australia 2025

By Gen Alcampor

Chinese New Year in Australia in 2025 will fall on Saturday, January 25, marking the start of the Year of the Snake. It is one of the most vibrant cultural celebrations, especially in cities with large Chinese communities such as Sydney, Melbourne, and Brisbane.

Chinese New Year in Australia is a vibrant celebration, especially in cities with significant Chinese communities. In 2025, the festivities will usher in the Year of the Snake, beginning on Wednesday, January 29, and continuing for 15 days, culminating with the Lantern Festival.

Expect colorful and energetic performances in Chinatown areas and public spaces. These dances symbolize good fortune and warding off evil spirits. Cities often organize beautiful lantern festivals and displays, showcasing traditional Chinese culture and artistry.

Major cities such as Sydney and Melbourne frequently host fireworks displays as part of the New Year celebrations. Enjoy food stalls, traditional performances, and markets at events like the Melbourne Chinese New Year Festival or Sydney's Lunar New Year celebrations in Darling Harbour.

For many, it’s a time for reunions and feasts, featuring traditional dishes symbolizing prosperity and longevity.

The tradition of giving red envelopes

with money as a symbol of good luck is observed widely, especially among families. Lion and Dragon Dances shows symbolic performances bring good luck and are performed in public spaces like Chinatowns, shopping centers, and festival grounds.

Traditional performances will take place in Chinatown districts and various community festivals, symbolizing prosperity and driving away bad luck.

Chinese New Year in Australia in 2025 will be a spectacular and vibrant celebration that brings communities together to honor traditions and culture. Though not a national public holiday, the festival will be widely observed across major cities like Sydney, Melbourne, Brisbane, Adelaide, and Perth, where residents can experience traditional practices, festive food, cultural performances, and grand events.

Chinese New Year 2025 in Australia promises to be a lively and colorful celebration, bringing together diverse communities to celebrate the Year of the Snake. While not a nationwide public holiday, the festival will be joyfully observed across major cities, including Sydney, Melbourne, Brisbane, Adelaide, and Perth, through cultural performances, fireworks displays, street parades, and traditional food festivals.

The Year of the Snake will symbolize renewal, prosperity, and self-reflection, and celebrations will feature beloved

traditions like lion dances, fireworks, lantern festivals, and the exchange of red envelopes. Markets, parades, and street festivals will offer opportunities for people of all backgrounds to immerse themselves in Chinese culture and the excitement of the new lunar year.

This annual event not only highlights the deep-rooted cultural significance of the holiday, such as the pursuit of prosperity, good fortune, and family unity but also promotes cultural diversity and unity within Australian society. In 2025, communities across Australia will continue to engage with the rich Chinese traditions of lion dances, red envelopes, and lantern displays, creating an atmosphere of excitement and renewal.

Whether through a gathering with loved ones or exploring festivities in the city, Chinese New Year 2025 in Australia will undoubtedly be a time of joy, celebration, and reflection, marking a fresh start with optimism for the year ahead.

Overall, Chinese New Year 2025 in Australia will be a celebration of joy, prosperity, and tradition, creating an inclusive atmosphere that honors both cultural roots and the shared values of community. It promises to be a memorable Chinese New Year in Australia, as it fosters community spirit and cultural exchange, making it a wonderful time for celebration, reflection, and connection.

Bookkeeping - Back to basics

Single- vs. Double-Entry Bookkeeping: Understanding the Differences

BOOKKEEPING

By Jodie Moore

Bookkeeping is the process of recording financial transactions, and it plays a crucial role in maintaining an accurate picture of a business’s financial health. The methods of bookkeeping can vary, but two of the most common systems are single-entry and double-entry bookkeeping. Each method has its pros, cons, and applications depending on the size and complexity of the business.

1. What is Single-Entry Bookkeeping?

Single-entry bookkeeping is a straightforward and relatively simple system of tracking business transactions. Each transaction is recorded only once, either as an income or an expense. It is a bit like keeping a personal cheque book or diary where you write down each financial transaction, but without the complexity of balancing accounts.

How it Works:

• Every transaction is recorded in a single ledger.

• Each entry typically includes details like the date, description, and amount.

• The system does not involve categorising assets, liabilities, or equity.

2. What is Double-Entry Bookkeeping?

Double-entry bookkeeping, on the other hand, is a more sophisticated and universally used method. In this system, every transaction is recorded twice, once as a debit and once as a credit, to maintain balance in the accounting equation:

Assets = Liabilities + Equity.

How it Works:

• Each transaction affects at least two accounts: one account is debited and another is credited.

• Debits and credits must always be in balance, meaning the total debits must equal the total credits for every transaction.

• The system uses a chart of accounts to track various categories, including assets (what the company owns), liabilities (what the company owes), income (revenues), and expenses.

Key Differences Between Single-Entry and Double-Entry Bookkeeping

Feature

Recording Method

Financial Statements

Complexity

Cost

Error Detection

Accuracy

Suitability

Financial Insight

Tax Compliance

Single-Entry Bookkeeping

Records each transaction once.

Does not generate full financial statements.

Simple and easy to understand.

Low cost, often implemented without external help.

Errors and fraud may go unnoticed.

Less accurate due to the lack of checks and balances.

Ideal for small businesses with limited financial activity.

Limited insight into the business’s financial position.

May not be suitable for tax reporting due to lack of detail.

Which System Should You Choose?

The choice between single-entry and double-entry bookkeeping ultimately depends on the size and complexity of your business.

• Single-entry bookkeeping may be ideal if you are a small business owner with simple financial transactions. If your business is small, operates on a cash basis, and doesn’t involve complex transactions, single-entry bookkeeping should be sufficient.

• Double-entry bookkeeping is generally recommended for medium to large businesses or those planning to grow. It’s also the preferred system if your business has multiple accounts, assets, liabilities, or investors. Double-entry bookkeeping offers a much more accurate and comprehensive understanding of your financial situation and will also be necessary

Double-Entry Bookkeeping

Records each transaction twice (debit and credit).

Enables the creation of full financial statements.

More complex and requires understanding of accounting principles.

Can be more expensive, requiring professional accountants or accounting software.

Easier to detect errors or fraudulent transactions.

Highly accurate, as every transaction is checked.

Suitable for businesses of all sizes, especially larger ones.

Provides a detailed and comprehensive view of financial health.

Provides detailed reports that comply with tax regulations.

if you plan to file financial statements or obtain external financing.

Conclusion

Both single-entry and double-entry bookkeeping systems have their pros and cons, but the choice depends largely on the size and complexity of your business. While single-entry is simple, fast, and inexpensive, it has limitations and is not well-suited for larger or more complex organisations. On the other hand, double-entry bookkeeping, though more complicated and costly, provides a robust and accurate framework for understanding a business’s financial health.

When starting out, going with the singleentry system might be sufficient to keep track of day-to-day transactions. As your business grows, you may eventually find that transitioning to double-entry bookkeeping will offer better financial control and insights—empowering you to make more informed decisions.

Just how beautiful are wilderness areas, refreshing to the soul

By Liz Sanzaro

Recently we visited the North and West Coasts of Tasmania, leaving from Launceston.

Cataract Gorge is actually a little known feature of Tasmania, people preferring Hobart but the Launceston gorge is amazing and quite close to the CBD.

Always spectacular especially after heavy rain. Loud roaring, turbulent and a force of nature.

When not in flood it is quite a different picture, and a great walk up and back with not too much of an incline.

Tasmanian geology is so very different from the mainland, in fact a professor of geology who has made a lifetime study of rocks and matching up places from Gondwana land to known places, has a very well explained theory that Tasmania was never attached to Australia, but instead is a chunk broken off from Antarctica when that land mass was near North America. Sounds bizarre, but you can read about the new findings here,https://www.abc.net. au/news/2015-09-08/tasmania-oncewedged-between-antarctica-and-northamerica/6757774

Further afield there is Levon Canyon walk, out of Ulverston on the north coast. Amazing to see the canyon come and go from the one vantage point.

Dip Falls out of Boat Harbour is also beautiful, but we are yet to find waterfalls that do not impress, plus the sounds are soothing. You can see the dolerite columns here, where the water splashes onto each column, making for a very white water fall.

Having already seen the Nut at Stanley which is well known as a dormant volcano base.

Last but not least is the absolutely amazing Trowatta Arch and caves on the Tarkine national forest

With Tasmania on our doorstep, this was all done in a 4 day get away. It is necessary to refresh your soul, especially if you are feeling despondent about Climate Change and world events. We are not travel agents, just wanting to share vision of how pristine parts of Tasmania still are, precious beyond words.

The Conservation Society wishes you all a good end of year break.

If you find any injured wildlife over the holidays, carefully transfer it to a cardboard box using a heavy towel or blanket to protect yourself, then take it to a local Vet if open. There is no charge for this service. Also when the weather is hot make sure there is water available for wildlife in your garden.

Otherwise call Wildlife Victoria 24 hours, 7 days a week on-call support for injured or sick wildlife.

Call Wildlife Victoria on 03 8400 7300 or report an injured animal using their online form.

By Ethan Strybosch

For not-for-profit organisations (NFPs), standing out online can feel like an uphill battle. But what if you had $156,000 annually to boost your online presence and drive more people to your cause?

Enter the Google Ad Grant program, a powerful opportunity that provides NFPs with free advertising credit to spread their message, attract new supporters, and increase donations. If your organisation isn’t leveraging this game-changing resource yet, here’s everything you need to know to get started.

What Is the Google Ad Grant Program?

Google offers eligible NFPs up to $10,000 a month in Google Ads credit—totalling $156,000 a year. These funds allow you to run targeted ad campaigns that appear in Google search results, helping you reach the right audience at the right time.

Whether your goal is to raise awareness, drive traffic to your website, or engage with potential donors, Google Ad Grants can transform your online marketing efforts.

How to Apply

1. Check Your Eligibility

Start by ensuring your organisation meets the requirements. You must:

• Be a registered not-for-profit.

• Hold valid charity status in your country.

• Agree to Google’s non-discrimination policies.

Visit Google for Nonprofits for full eligibility criteria.

2. Submit Your Application

Once your eligibility is confirmed, you can apply directly through Google for Nonprofits. The process is straightforward, and guidance is available at every step.

3. Set Up Your Account

After approval, you’ll need to set up your Google Ads account. Google provides a guided setup to ensure your campaigns comply with the program's policies.

Optimising Your Ad Campaigns

Getting started is just the first step— ongoing optimisation is key to making

the most of your ad credit. Here’s how to create impactful campaigns:

• Keyword Research

Identify the terms your audience is searching for using tools like Google Keyword Planner. Focus on keywords that align with your mission and services.

• Engaging Ad Copy

Craft compelling ads that resonate with your audience. Use clear and direct calls to action, such as “Donate Now” or “Learn More.”

• Landing Page Optimisation

Ensure the landing pages your ads link to are relevant and userfriendly. A clear call to action on these pages—like signing up for a newsletter or making a donation— can drive better results.

Common Pitfalls to Avoid

While the Google Ad Grant program is an incredible opportunity, it’s essential to avoid these common mistakes:

• Low Click-Through Rates (CTR)

If your ads aren’t attracting clicks, test new keywords and refine your ad copy. Small changes can lead to significant improvements.

• Poor Quality Scores

Google assigns Quality Scores to your ads based on their relevance to the landing page. Ads and landing pages must align closely to maintain performance.

Ready to Make an Impact?

With $156,000 per year in free advertising, your organisation has the potential to reach new heights in visibility, engagement, and impact. Whether you’re just starting or looking to optimise existing campaigns, the Google Ad Grant program is a resource no NFP should overlook.

Take the first step today—visit Google for Nonprofits to learn more and apply. Your cause deserves to be seen.

MORTGAGE BROKERING

By Reece Droscher

Did you know that seven out of 10 borrowers use a mortgage broker?

During the June 2024 quarter, mortgage brokers wrote 73.7% of all new home loans in Australia – the second highest result on record.

When it comes to refinancing, many borrowers choose to use a mortgage broker for peace of mind that switching is the right move for them.

Here’s why many borrowers are using a mortgage broker to refinance, rather than going direct to a lender.

Professional advice you can trust

Australians are in the midst of a cost-ofliving crisis and money is tight for many. When it comes to your home loan, you want to know that it’s competitive and has the features you need.

A mortgage broker is a trained finance specialist who can offer support and guidance about whether refinancing is suitable for you. We understand the different home loans and can narrow down your options to find one that marries with your specific financial situation and goals.

Mortgage brokers are bound by a best interests duty. What that means is we are governed to always act in the best interests of our clients, so you can rest assured we’re on your team.

A streamlined refinancing process

Do you remember when you took out your existing home loan?

Maybe you had to jump through a few hoops to get to the finish line? Perhaps it felt like there was A LOT of paperwork to wade through and it all seemed overwhelming at times?

Mortgage brokers streamline the refinancing process. We liaise with the lender, oversee the paperwork and provide ongoing assistance.

Bottom line: you’ll have someone to support you throughout the entire refinancing journey.

Tailored finance solutions

There’s no one-size-fits-all mortgage. Everyone’s financial situation and goals

WHY USE A MORTGAGE BROKER TO REFINANCE?

are different, which is why you need tailored finance solutions.

A mortgage broker will take the time to understand your financial circumstances and goals. If we think you could benefit from an offset account or redraw facility, we’ll explain why, but we won’t push extras on you that you don’t actually need.

A panel of lenders

If you go directly to a lender, they’ll try to sell you their home loans. Naturally.

We have access to a full panel of lenders, so we can compare the market and find a mortgage that’s suitable for you. Borrowers are spoilt for choice these days, and we will help you pick your home loan from the hundreds of options out there.

What about commissions? The commissions we receive are pretty similar across lenders. This ensures there’s no incentive for a broker to recommend one lender over another. Our job is to act with our clients’ best interests at heart.

A holistic approach to your finances

Banks are generally focused on the here and now. Their primary goal is to secure your business and lock you in.

Mortgage brokers, on the other hand, take a holistic approach to your finances. We’ll take into account your current

financial situation and future financial aspirations, then line you up with finance to support those goals.

Common reasons to refinance

If you haven’t reassessed your mortgage recently, now is the time to do it. Refinancing could help you to:

• Secure a more competitive interest rate

• Benefit from interest-saving features like offset accounts or redraw facilities

• Access equity for renovations, additional properties or other financial goals

• Consolidate debt.

Like to explore your options? Interest rates may be on the move again in early 2025, so it makes sense to shop around now to see what lenders are offering. Contact Reece on 0478021757 for more information.

Please call Reece Droscher on 0478 021 757 to discuss all of your Home Loan needs.

reece@shlfinance.com.au www.shlfinance.com.au

FINANCIAL PLANNER

By Warren Strybosch

As the year is coming to a close, we want to thank all our readers and clients for their continued support. At Find Wealth (which also includes Find Retirement & Find Insurance) we will continue to strive to improve our client experience and be one of the best financial planning firms in Australia. On that note, we are excited to announce that Erryn Langley is a finalist for the first time at the IFA awards (https:// www.ifa.com.au/excellence-awards/ winners/2024-winners-and-finalists) in the category of SMSF Advisor of the Year, and I, Warren Strybosch, am a finalist in 2 individual categories: Client Outcome of the Year & Holistic Advisor of the Year – Vic. The Find Group (representing Find Wealth, Find Accountant, Find Foundation, and Find Network) is a finalist across five (5) categories. Last month I, Warren Strybosch, was listed for the third time in the FS Power 50 as one of the most influential financial advisors in Australia and I recently attended the IFPA awards where I picked up Holistic Advisor of the Year and Australian Financial Practice of the Year. In all, Erryn and I have had a good year, and this could not have been possible without the support of our amazing team and our families.

This month we just want to touch on what is new across the industry as follows:

1. New Aged Care Bill passed

On 25 November, the Aged Care Bill 2024 passed both houses of Parliament and will become law with amendments made by the Senate. The new Act will commence from 1 July 2025.

These changes were mentioned in previous editions under our Aged Care.

Early in the new year, we will delve into the potential impact of these changes from a strategic perspective for our clients looking to access aged care both before and after 1 July 2025.

Note: Warren Strybosch of Find Wealth will be looking to launch their new website www.findagedcare.services in 2025 and from 1st July 2025, will start to provide aged care advice. Watch this space.

2. Increase in maximum published Refundable Accommodation Deposit (RAD)

As part of the Government’s aged care reforms, there is a proposal to allow the maximum published accommodation price that can be charged without seeking approval from the Pricing Authority, to increase from $550,000 to $750,000.

Additionally, the maximum price will then be indexed annually on 1 July each year to CPI.

While the new Aged Care Act will commence from 1 July 2025, the Government has registered a legislative instrument Aged Care (Subsidy, Fees and Payments) Amendment (Maximum Accommodation Payment) Determination 2024 to implement this change to RADs which will come into effect from 1 January 2025.

3. Release of super on compassionate grounds

The ATO recently released statistics pertaining to the early access of super under the Compassionate Grounds condition of release.

The information highlights the popular reasons for access and the likely success of the application, a useful bit of information for clients requesting early access under this condition.

Of particular interest:

• The total dollar amount released under the Compassionate Grounds definition has more than doubled over the past six years

• Medical treatment is by far the largest category for withdrawals, making up 94.5% of applications approved in 2023-24.

• Of the sub-categories under medical treatment, 45% of the approved claims were for dental treatment and 28.6% for weight loss

• Preventing foreclosure or forced sale of a home was the category with the lowest application success rate with only 1,110 approved applications from 12,900 applications received in 2023-24.

The full report is available on the ATO website here.

4. 2025 Federal Budget date change

The Australian Federal Budget for 202526 will be handed down on Tuesday 25 March 2025 instead of the usual second Tuesday in May. This is in anticipation of the upcoming Federal Election which must be held on or before 17 May 2025.

Leading up to the election, when Parliament is dissolved, all proposed bills and other business before the House of Representatives and the Senate will expire and will have to be reintroduced in the next Parliament (if applicable).

Again, from everyone at the Find Group which includes Find Wealth, we want to wish you all a happy Christmas and enjoyable time away with your friends and family at this time of year.

Warren Strybosch

Financial Planning is offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth & Find Retirement.

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 Alliancegroup https://www. centrepointalliance.com.au/

Warren Strybosch is Authorised representative (No. 468091) of Alliance Wealth Pty Ltd. Services offered are superannuation, retirement planning and aged care advice.

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.

Dreaming of setting up your own business – things to consider

ACCOUNTANT

By Warren Strybosch

I don’t know about you, but I am looking forward to a well-earned break at the end of 2024. As a family we hook up the caravan and head off towards Falls Creek and set up camp along the Kiewa River. I try to slow down even though I find that hard, but I do look forward to spending that time with family and friends.

As you all know, I run my own accounting and financial planning business with a focus on looking after pre-retirees and retiree clients. What you may not be aware of is that I am also the founder of a Not-For-Profit called the Find Foundation which runs community papers throughout Victoria, and I manage the Find Network that runs a network group alongside the community papers. Additionally, I am on the board as treasurer where my children attend their schooling, and if that is not enough, I am about to launch our new wellbeing business to help our aged care clients and those clients with mobility issues. I am also currently writing a money/ financial planning book aimed at helping young people who either cannot afford financial advice or simply don’t want to see a financial planner. I told the Uber driver about my book, and he now follows me on LinkedIn. He told me he would be one of the first to purchase it…I might give him one for free given he was so encouraging during our trip to the airport. Oh, did I mention I am also writing a financial planning course for an overseas university? One of my friends says he gets tired just hearing me talk about all my business ideas and what I have on the go, but I thrive on it…well, most of the time I do but to be honest, I am looking forward to some down time this year…it has been a big year.

The end of year is often a time for reflection. For some there will be thoughts of leaving paid employment and running their own business. Whilst running your own business brings with it certain rewards and sounds romantic, it can also bring with it many challenges. I was asked recently to help a new client set up his own business. So, I thought I would put together a few thoughts for people to consider before they head down this path.

1. Business Idea and Market Research

• Define Your Niche: Clearly identify the problem your business solves and how it stands out in the market. If you can find a solution to a problem

, then you are likely to succeed. Alternatively, if you feel you can do what someone else is already doing but better, faster or cheaper (without sacrificing on quality) then that might be the way to go.

• Understand Your Target Audience: Conduct thorough market research to understand who your customers are, their needs, behaviours, and pain points.

• Competitor Analysis: Research competitors in your industry to evaluate their strengths and weaknesses. This helps you identify gaps in the market or areas for differentiation. For me, I like to speak to other award-winning financial planning and accounting practices. Be humble and recognise that you can learn from others.

2. Legal Structure and Compliance

• Choose a Legal Structure: Decide on the type of business entity (sole proprietorship, partnership, company, trust, etc.). This decision impacts taxes, liability, and other factors. Speak to your accountant about all of this.

• Obtain Necessary Permits and Licenses: Depending on your location and industry, you may need to apply for specific business licenses, permits, or certifications. Often it is insurance you will need to obtain e.g., public liability, work cover and/or income protection.

• Understand your Tax Obligations and get the Right Software: Consult a tax professional to understand the tax obligations and what bookkeeping software you should use. Aim to use bookkeeping software at the start as it will save you time and money in the long run.

3. Funding and Cashflow

• Estimate Startup Costs: Calculate the initial capital required for equipment, inventory, office space, marketing, etc. This helps you determine how much funding you need.

• Sources of Capital: Explore funding options such as personal savings, bank loans, investors, crowdfunding, or grants.

• Cash Flow Management: Set up a cash flow plan that includes cash flow projections, budgeting, and accounting systems to track revenue and expenses.

Branding and Marketing Strategy

• Develop Your Brand Identity: Create a strong brand that resonates with your target audience, including a logo, colour scheme, messaging, and tone of voice.

• Marketing Plan: Design a marketing strategy that includes both online and offline channels, such as social media, SEO, content marketing, email campaigns, and traditional advertising. Don’t fool yourself. If you are not on social media, you need to start. Remember, when you run a business, social media should be all about you and your business so keep it family friendly. You do not want to alienate the general public who are conservative by nature.

• Domain Names and Trademarks: Make sure you can obtain the domain name that represents your business and check IP Australia for trademarks. The last thing you want to do is receive a letter stating you are infringing someone else’s IP.

• Customer Acquisition and Retention: Identify strategies for attracting new customers and retaining them, including promotions, loyalty programs, and personalised services.

5. Operations and Systems

• Set Up Your Operations: Establish processes for day-to-day business operations, including supply chain management, inventory control, and customer service.

• Technology and Tools: Invest in the right software and tools (CRM, accounting software, project management tools) to streamline your workflow and enhance productivity.

• Scalability: Design your operations with scalability in mind, so you can efficiently handle business growth without sacrificing quality or customer satisfaction.

• Staffing: Consider hiring admin staff from overseas and only hire client facing staff in Australia.

By carefully considering the above areas, you’ll be better equipped to navigate the challenges of starting and growing a successful business.

Feel free to give me a call if you wish to discuss your next business idea or want any help to understand any of the above points.

Warren Strybosch

How to look after your liver (especially during times of celebration)

NATUROPATH

By Kathryn Messenger

Your liver is one of the major detoxification organs in your body. But not only does it work in detoxification, it also plays an important role in hormone regulation and blood glucose metabolism.

It’s commonly known that too much alcohol is bad for your liver. But did you know that overeating, too much sugar or white flour products, as well as prescription medications (and recreational drugs) can increase the detoxification load of the liver?

Some common signs of reduced liver function:

• Fatigue (especially after lunch or mid-afternoon)

• Brain fog

• Headaches

• Nausea

• Irritability, frustration, or anger

• Dry skin

The good news is that the liver is an organ that can repair itself (at least at this point), and there are lots of simple things you can do to help your liver with its role of detoxification and help to improve its function.

Fluids

Drink plenty of water, it’s the easiest way to help your body eliminate waste products and toxins, it does this via the liver and digestive system, via the kidneys and urinary system, and also through sweat. Lemon, lime or grapefruit in water is especially helpful. There are some herbal teas that will also be of benefit: chamomile tea, dandelion root, or turmeric.

Foods

Bitter foods are not only good for the liver, but will stimulate your body to make more enzymes to aid in digestion. Mild bitter foods include the brassica family: broccoli, cauliflower, kale, brussel sprouts and cabbage. Bitter leafy greens such as roquette or dandelion greens can help, and for a good serve of bitters, you can't go past bitter melon.

Fasting

It makes sense that if overeating can cause liver problems, fasting can help with the repair. Often people with poor liver function don’t have a morning appetite. If this is you, fasting breakfast is a great place to start. Be sure to drink plenty of water, and when you do start eating, avoid sugar and white flour products, and include some of the foods that will help your liver.

I see such good results in my clinic with people’s energy levels in a short time after taking liver herbs, and there are some great herbal and nutritional products to improve metabolism and to help you feel great.

Kathryn Messenger

When do you consider closing down your SMSF?

RETIREMENT

By Warren Strybosch

Before I delve into this topic, I just want to say thank you to everyone who reads my articles and for those who have supported me throughout this year. I was very humbled to have been placed into the FS Power 50 once again.

(https://www.financialstandard.com.au/ fspower50#website).

The Financial Standard’s Power50 list is made up of the 50 most influential financial advisers in the country according to the readers of Financial Standard and FS Advice - The Australian Journal of Financial Planning.

They search for advisers who have actively participated in industry-based activities, community-based projects and/or other initiatives designed to promote the important role that financial advisers play in the country’s socio-economic future.

Not only did I make it into the FS Power 50 but I was a finalist in three (3) categories for the Australian Financial Industry Awards for 2024, an initiative run by the Institute of Financial Professionals Australia (IFPA). These prestigious awards celebrate excellence and outstanding

achievements within the accounting, superannuation, and financial advice sectors. I was able to attend the awards in late November and won Holistic Advisor of the Year and to my astonishment, walked away as the overall winner as Australian Financial Practice of the Year.

(https://online.ifpa.com.au/2024finalists).

This week I am travelling to Sydney again as I am a finalist across eight (8) categories for the prestigious IFA Excellence Awards. It is one of the most anticipated awards programs of the year, that identifies the top businesses and professionals in the financial services industry across the nation. In 2021 and 2023. I won an award, and last year I was the bridesmaid across four (4) categories. Winning an ifa Excellence Award is a desirable accolade for both individuals and businesses seeking to forge their role in the finance industry and pinpoint professional development and innovation.

Moving on to this month’s article.

When is it time to close down a SMSF?

At least once or twice a year I find myself having a discussion with a Trustee of a SMSF regarding the closure of their SMSF. Often these discussions take place when the trustees are in their late 70’s or 80’s and are starting to find it burdensome

to keep up with all the regulatory requirements of running their own SMSF. Often, these trustees do not have a financial planner helping them to manage their SMSF affairs and/or the underlying investments, and so all the legal and investment requirements fall on their shoulders.

Whilst it is not a requirement to have a retirement strategy in place when running a SMSF, I encourage trustees to consider putting one in place and to seek professional advice when doing so. I believe it is important that trustees give thought to their futures and to consider the ‘what if’s’ situations that might occur. For instance, what if one of the members pass away? Usually, it is the husband to pass away first and they were the ones managing the SMSF on behalf of himself and his wife. Would the wife be able to continue running the SMSF? What if a trustee has a property in the SMSF and wants to retire but still has debt associated with the property and cannot meet the minimum pension payment requirements? How do they pay themselves a pension? What if one of the members loses capacity to manage the SMSF?

Trustees should reconsider every three years if an SMSF is still the correct retirement strategy for their needs, and

RETIREMENT

have an exit plan in place, otherwise they might be forced to close the SMSF at a time they did not expect it or want to.

With the rise of industry funds offering low fee investment options and the ability now to purchase shares, exchange traded funds (ETF), and term deposits (TD), there are now alternative options compared to a SMSF for those in retirement.

I am of the opinion that if you do not want to hold property in a SMSF and you are not inclined to invest in highly speculative investments like Crypto and Derivatives, then maybe a SMSF is not the right vehicle for you to use in retirement. As such, I manage a lot of clients share portfolios using industry funds and the returns have done quite well to date. Even so, there are many clients who just love running a SMSF and so our business needs to cater to those with and without a SMSF.

I felt that as an accountant and financial advisor, who also has SMSF financial planning qualifications, that there would be a conflict of interest to do both the tax returns and provide financial planning advice in this space. It made sense to find another financial planner who specialised in this area. As such, I asked Erryn Langley to join the Find Group of companies so that any conflicts of interest would be removed and there would be two sets of eyes on the SMSF accounts, adding extra protection to our SMSF clients.

& RETIREMENT & AGED CARE

Erryn Langley specialises in providing financial advice to trustees who own and operate their own SMSF. I liked what Erryn did so much that I convinced her to join my business so that I could concentrate on the tax side of the business when it comes to SMSF, and Erryn could do her magic on the financial planning side of things. Erryn has a great rapport with her clients and looks beyond just investments. She prides herself on being on top of all the regulations and implementing strategies that benefit the clients now and in the future.

We work well together.

So, if you are not ready to let go of your SMSF but realise that you might need some help managing it, then Erryn might be an option for you until it becomes all too difficult or your situation changes that having a SMSF is not a realistic option anymore.

Even so, we still would encourage trustees to review their retirement strategy at least every three years. As part of your review, we encourage you to at least know what steps you may need to take if you ever find yourself needing to close down the SMSF. It is better to be informed now rather than feeling overwhelmed later on.

Feel free to reach out to Find Retirement, Find Wealth or Find Accountant if you need help with your SMSF.

Special Tax Return Offer

1. Email to returns@findaccountant.com.au requesting your PAYG return to be completed. Provide us with your full name, D.O.B and address

2. A Tax engagement letter will be emailed to you for signing via your mobile (no printing or scanning required).

3. You will be then sent a tax checklist to complete online. Takes less than 5 minutes.

4. We will then require you to upload your documents to our secure portal.

5. Once we have received all your documentation, we will complete the return.

6. We will email you the completed return with our invoices. Once you sign the return and pay the invoice we will lodge the return on your behalf.

Warren Strybosch

Award winning Financial Adviser and Accountant

Part of the Find Group of Companies

Financial Planning, SMSF, Super, Insurance, PreRetirement & Retirement Planning (Financial Planning) are offered via Find Wealth Pty Ltd ACN 140 585 075 t/a Find Wealth, Find Insurance and Find Retirement. Find Wealth Pty Ltd 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 (www.centrepointalliance.com.au/fsg/aw).

Warren Strybosch

Authorised Representative (No. 468091) of Alliance Wealth Pty Ltd.

Erryn Langley

Authorised Representative (No. 1269525)

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.

On the 8th November the Sunbeam Talbot 10hp, car ( the 21st birthday present to Lady Pamela Vestey- daughter of Dame Nellie Melba) was “ flagged off “ at Ringwood Square car park by Councillor Prue Cutts and Philip Daw President of the Heatherdale Community Action Group Inc.

The Sunbeam Talbot was driven to Coombe Cottage in Coldstream by Mal Clarke- one of the restorers of the vehicle – a slow and steady trip. The escort vehicle was a Sunbeam Allegro( owned by Terry Sully) ( one of 3 in the world) . THE SUNBEAMS WERE CERTAINLY BEAMING. !

I WANT TO BE A SUNBEAM

Baroness Saffron Foster, ( grand daughter of Dame Nellie Melba.) and family were there to view & welcome the car back for the special trip to its ancestral home..- Coombe Cottage was built in 1912 and Dame Nellie Melba always called it home. Coombe has always been kept exactly as she left it, and the house and 80 acres of grounds have been maintained impeccably .

Mr. Terry Sully stated that it was “fantastic” to be able to bring a small part of history to the family . The Sunbeam was stored in a hayshed for 70 + years before Mr. Sully purchased it for restoration with his mate Mal.

It is hoped that the next phase of the exquisite car’s life will be an interesting one where many people are able to see this part of history. – where is yet to be decided.

ELWYNNE KIFT

HEATHERDALE COMMUNITY ACTION GROUP

EV Strengthening Communities has launched a new service called the Virtual Volunteer Navigation Hub. The Virtual Volunteer Navigation Hub is a service available for anyone who is interested in finding volunteer opportunities in their local area according to their interests or needs. Prospective volunteers will submit a registration form on our website or via QR codes on postcards and flyers.

We have trained volunteer assessors who will meet with prospective volunteers online via Microsoft Teams or at our office in Ringwood to discuss the volunteer opportunities that are available locally. These volunteer opportunities would be referred to these volunteers to apply independently or with our support if requested. We also provide support in completing our registration form on our website if requested.

Feel free to send in a registration form on our website www.ev.org.au and select “I want to volunteer” OR scan the provided QR code to direct you straight to the registration form if you are interested in getting support in

opportunities.

Manningham

Grants bring community projects to life

Local community groups, sporting clubs and not-for-profit organisations are set to share in more than $290,000 through Manningham’s Annual Grant Program.

Grant applications open on Monday 3 February and eligible local groups can receive between $3,001 and $20,000 in funding.

Mayor Cr Deirdre Diamante said the program helped fund local initiatives, projects and activities that made a positive impact in Manningham.

“These include a wide range of community-driven projects such as arts, festivals and events, wellbeing programs, as well as inclusive and multicultural activities,” Cr Diamante said.

“We want to support our outstanding local organisations who do a wonderful job in helping make Manningham

a vibrant, connected and inclusive community for all.”

Grants are available in the following categories:

• Community Development

• Arts

• Festivals and Events

• Healthy Ageing.

The Manningham Toy Library was one of last year’s successful recipients. The library received a grant to support its free 40th Anniversary Messy Play Day.

Toy Library Coordinator Anlina Jones said the event will be a wonderful way to showcase the benefits of the group to the Manningham community.

“We love running messy play events, but it can be costly purchasing the equipment required, so this grant was such an amazing opportunity for us. We can really celebrate the 40 years

of play at the toy library,” Anlina said.

Applications for Manningham’s Annual Grant Program are open until 5.00pm, Tuesday 11 March. To assist groups with their applications, Council will host the following information sessions:

• Annual Grant Information Session, Tuesday 4 February, 10.00am to 11.00am, Manningham Function Centre

• Grant Writing Workshop, Wednesday 12 February, 10.00am to 12.00pm, Manningham Function Centre.

• Online Q&A session, Wednesday 19 February, 4.30pm to 5.00pm.

The sessions are free, but registrations are essential. For details visit Council’s website, manningham.vic.gov.au/ community-grant-program

Council

Manningham Council property purchase sets the stage for new community house

Manningham Council has signed the contract to purchase 576-578 Park Road, Park Orchards as part of its planning for a new Park Orchards Community House and Learning Centre.

A priority action in Council’s Community Infrastructure Plan, discussions and advocacy have already commenced for the replacement of this popular neighbourhood house and it is hoped that this significant investment by Council will be the catalyst for investment from other levels of government.

Manningham Mayor, Deirdre Diamante, said the existing community house needs replacing to bring programs and services together.

“The Community House is widely used and offers a variety of programs and services in learning, fitness and art for all ages, and includes a well-loved childcare facility.

“The current building is coming to the end of its useful life, has limited accessibility

and is too small to cater to all programs. These limitations have resulted in programs moving to different locations and spread across multiple local venues.

“By bringing these programs together into one building with better access and more space, we can improve efficiency and better support the community’s growing needs.”

The location of the new property, adjacent to the existing Community House at 572 Park Road, will allow for more space for the variety of programs on offer.

“Located in the heart of Park Orchards, as part of a community and education precinct and near public bus transport, the site will maintain convenient access to childcare, schools, recreational areas, and shops.” Cr Diamante added.

The purchase of 576-578 Park Road is part of Council’s long-term planning to replace this important neighbourhood house for Park Orchards.

Neighbourhood houses are predominantly funded by government grants and additional state and commonwealth government funding will be needed to deliver this new community facility.

“We have purchased this property as part of our long-term plan for the community house and local area. We’re pleased to be able to secure a site for a new centre in Park Orchards and will continue to advocate for State and Federal funding to deliver it.”

The purchase was funded by Council’s Strategic Fund which is part of its 10 Year Financial Plan 2024/25 to 2033/34.

For more information, visit yoursay. manningham.vic.gov.au/park-orchardscommunity-house-feasibility.

For more information, readers can visit

Aquatic Playgroup

An aquatic playgroup is a structured water-based program designed for young children (often infants and toddlers) and their parents or caregivers. These playgroups focus on providing a safe and supportive environment for early childhood development through fun, sensory, and skill-building activities in the water.

Engaging in water play activities during baby and toddler swim lessons can strengthen parent-child bonds and provide opportunities for social interaction. Such shared experiences contribute to a child’s confidence and comfort in aquatic settings.

Each session consists of water familiarisation for parents and babies, guided by a qualified swim teacher. All babies must be accompanied by an adult in the water. The Aquatic playgrou

p is available for babies from three months to 11 months of age.

Water play promotes learning in various developmental areas, including

cognitive and physical skills. Activities like filling, pouring, and splashing help children understand concepts such as cause and effect, while also enhancing their coordination and motor skills.

Seniors Happy Life Club activities

The

Engaging in social and recreational activities is vital for seniors, as it enhances physical health, cognitive function, and

emotional well-being. Participating in dance classes, such as ballroom or line dancing, promotes physical fitness and social interaction. For instance, 101-yearold Ron Crutch attributes his longevity to his passion for dancing, which he believes keeps him mentally and physically active.

Participating in these activities not only enriches daily life but also contributes to overall happiness and longevity. It’s essential for seniors to choose activities that align with their interests and physical abilities to maintain motivation and enjoyment.

Seniors Happy Life Club often focuses on organizing activities that promote joy, health, and connection among senior citizens.

Expressions of interest – help shape management of stormwater and flooding in Manningham

Community members are invited to register their interest to join the Manningham Flooding and Stormwater Management Community Reference Panel (CRP), for its second two-year term.

The CRP partners with Manningham Council to better understand the existing and emerging water challenges facing the community including:

• increased risk of flood and drought; and • pressures on potable water (drinking water) supplies.

This is your opportunity to make an impact on how we sustainably manage our water resources, care for our environment and manage flood risk into the future.

The CRP provides a diverse community voice to guide the preparation of an Integrated Water Management Strategy and the development of the Flood

Mapping Project. In informing Council’s deliberations, it supports quality decision making to best place the community, to proactively and sustainably, meet the challenges ahead.

Membership includes an independent facilitator, community members, Councillors, council officer representatives and subject matter experts.

For more information, or to submit the online Expression of Interest (EOI) form, visit yoursay.manningham.vic.gov.au/ flood-and-water-management

The EOI process will close at 11.59pm on Friday 29 November 2024.

All applicants will be notified of the outcome of the Expression of Interest process by mid-January 2025.

Manningham Council partners with Jackson Court traders to support local business

With support from Manningham Council, the new Jackson Court Traders Association has seen the launch of its first initiative – a welcoming new sign at Jackson Court Shopping Centre.

Formed just over a year ago, the Jackson Court Traders Association advocates for its businesses, collaborates with Council, pursues funding opportunities and creates initiatives to promote the popular activity centre.

Jackson Court has more than 90 businesses, making it one of Manningham’s busiest and most vibrant centres.

The new sign on Doncaster Road is designed to showcase the mix of local businesses and advertise the centre.

Manningham Council supports activity centres with infrastructure upgrades, business support and planning. At Jackson Court, Council helped establish

the traders’ association with registration, governance, communication and business development support.

Manningham Council supports activity centres with infrastructure upgrades, business support and planning. At Jackson Court, Council helped establish the traders’ association with registration, governance, communication and business development support.

President of the Jackson Court Traders Association, Con Valsamis said the sign brings a new look and increased advertising space for businesses at the centre.

“As a group, we have so many ideas on ways to continue improving this important shopping district. This new signage is a big step towards us achieving these goals,” Mr Valsamis said.

“A big thank you to my fellow committee members for their passion and dedication and to Manningham Council

for their support in setting up our traders association.” “We want to bring this area to life and really show people what we at Jackson Court have to offer,” Mr Valsamis added.

You can follow Jackson Court Traders Association on Instagram @jacksoncourt. doncaster.