Find Manningham July 2023 Edition

• 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

• Mortgage Broker

• Naturopathic Medicine

• Nutrition

• Osteopathy

• Painter

• Personal Trainer

• Photographer

• Plumber

• Podiatrist

• Printer

• Project Management

• Psychologist

• Real Estate Rentals

• Real Estate Sales

• Reiki

• Residential Cleaning

• Residential Mortgage

• Security

• Signs

• Solar

• Solicitor

• Travel Agent

• Website Developer

• Wedding Planner

About the Find Manningham

By Warren Strybosch

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

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

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

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

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

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

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

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

We value your support, The Find Manningham Team.

anningham The

EDITORIAL ENQUIRES:

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

PUBLISHER: Issuu Pty Ltd

POSTAL ADDRESS: 248 Wonga Road, Warranwood VIC 3134

ADVERTISING AND ACCOUNTS: editor@findmanningham.com.au

GENERAL ENQUIRIES: 1300 88 38 30

EMAIL SPORT: sport@manningham.com.au

WEBSITE: www.findmanningham.com.au

OUR NEWSPAPER

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

ALL THINGS MANNINGHAM

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

ACKNOWLEDGEMENT

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

DISCLAIMER

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

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Cyber Insurance – Update

GENERAL INSURANCE

By Craig Anderson

Well-known law firm Slater and Gordon have reportedly lodged a class action against Optus, on behalf of more than 100,000 registered participants alleging their safety has been compromised.1 Data allegedly accesed by hackers may include name, date of birth, email, phone number, address, and ID numbers such as driver’s license or passport numbers. If this can happen to a multi-million dollar global communications giant with a full time IT department, then it can happen to your company.

This news should send a shiver down the spine of all small and medium enterprises as well, because similar data breaches experienced by small businesses put up to half of them out of business within 6 months.2 Reputational damage and associated lack of trust is certainly a revenue killer, even if the horrendous cost of rectifying a breach isn’t enough to bankrupt the business first. Fines and penalties will sometimes be a problem too, and there are potential EU General Data Protection Regulation fines, which may apply within Australia if the affected party is from an EU country.3

So what might a Cyber Policy typically cover?

a. Business interruption financial loss due to a network security failure or attack, human errors, or programming errors

b. Cost of data loss and restoration including decontamination and recovery of files and hardware

c. Emergency incident response and investigation costs, supported by an insurer appointed contractor

d. Delay, disruption, and acceleration costs from business interruption event that stems from a cyber-related issue

e. Crisis communications with clients and reputational damage mitigation expenses

f. Civil Liability costs arising from failure to maintain confidentiality of data

g. Civil Liability arising from unauthorised use of your network

h. Computer/data network, or data extortion / blackmail (where insurable. Paying this may be illegal under certain circumstances)

i. Online media civil liability

j. Regulatory investigations expenses

As diligent as you may be at managing your clients’ data, system intrusions can still happen.

Given that cyber-crime profits have eclipsed the global drug trade in turnover, I would say it’s a pretty fair assumption that the SME sector will take a beating sooner rather than later. Talk to your broker about Cyber Insurance today, and protect yourself and your clients against extensive losses.

If you think you may be affected by the recent Optus Data Breach go to

https://www.acma.gov.au/optus-databreach or ring 133 937

1. https://www.abc.net.au/news/202304-21/optus-hack-class-actioncustomer-privacy-breach-dataleaked/102247638

2. https://www.mybusiness.com.au/ resources/news/more-than-half-ofsmall-businesses-close-after-a-cyberattack

3. https://ovic.vic.gov.au/privacy/ resources-for-organisations/eugeneral-data-protection-regulation/

See Scope of the GDPR: Considerations for Victoria

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

Anyadviceinthisarticlehasbeenprepared 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).

Maximizing Success: Unveiling the Benefits of Lead Generation for Service-Based Businesses

DIGITAL MARKETING

By Ethan Strybosch

Lead generation, the process of capturing and nurturing potential customers, is an indispensable strategy for service-based businesses seeking sustainable growth in today's competitive marketplace. By proactively identifying and engaging with prospective clients, businesses can unlock a plethora of benefits that fuel their success. Let's delve into the advantages that lead generation offers.

First and foremost, lead generation empowers service-based businesses to expand their customer base. By actively targeting and engaging with potential clients, companies can tap into previously untapped markets, both locally and globally. This enables them to reach a wider audience and establish a strong foothold in new territories, paving the way for increased revenue and market share.

Moreover, lead generation facilitates the acquisition of high-quality leads. Through targeted marketing campaigns and data-driven strategies, businesses can attract individuals who are genuinely interested in their services. These leads are more likely to convert into paying customers, boosting conversion rates and ultimately improving the return on investment (ROI) for marketing efforts.

Furthermore, lead generation fosters a more personalised and tailored approach to customer interactions. By gathering relevant data about prospects, businesses can understand their specific needs and preferences. This allows for the customisation of marketing messages and the delivery of personalised solutions, creating a more engaging and meaningful customer experience. Building strong relationships through personalised interactions enhances customer loyalty and promotes repeat business, leading to long-term profitability.

Additionally, lead generation aids in enhancing overall marketing and sales effectiveness. By utilising lead tracking and analytics tools, businesses can gain valuable insights into their marketing campaigns' performance. This enables them to identify successful strategies and optimise their marketing efforts, ensuring a higher return on investment. By streamlining sales processes and nurturing leads through targeted communication, businesses can shorten the sales cycle and improve conversion rates.

In conclusion, lead generation is a vital component of success for service-based businesses. From expanding customer bases and acquiring high-quality leads to fostering personalised interactions and enhancing marketing and sales effectiveness, the benefits are manifold.

By investing in robust lead generation strategies, businesses can position themselves ahead of the competition, driving growth and maximising their overall potential in the dynamic marketplace.

CTA buttons, colours, and layouts, allows for data-driven decisions to improve conversion rates. By measuring and analysing key metrics such as bounce rates, time on page, and conversion rates, marketers can identify areas of improvement and make informed changes.

Crafting a good landing page requires a thoughtful approach that incorporates various elements. From a clear and concise value proposition to engaging visual design, persuasive copywriting, and trust-building strategies, each aspect plays a crucial role in driving conversions. By continually optimising through A/B testing, personalisation and transparent communication, marketers can refine and enhance their landing pages, maximising their potential to convert visitors into customers. Remember, a successful landing page is not a one-time creation but a continuous process of refinement and improvement.

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

Is Now The Best Time To Fix The Rate On Your Home Loan?

MORTGAGE BROKERING

By Reece Droscher

As a mortgage broker, one of the most common questions I receive from clients is whether they should fix the interest rate on their Home Loan. With interest rates having already risen 4% since April 2022, borrowers on variable rate loans are seeing their loan repayments increase significantly. Many borrowers on fixed rates will also see their repayments jump in the next few months as many come off their super low fixed rates. It’s been approximately 10years since we last saw rates at this level.

With commentary from the Reserve Bank indicating that they will use interest rates as a tool to reign in inflation, lenders have lifted their advertised fixed rates, particularly in the popular 2 and 3 year fixed rate products, to almost 7% now. This is much greater than the increases to variable rates, although with further increases in the cash rate expected this situation may change.

Fixed rate loans are priced differently to variable rates and the recent significant increases are due to issues not linked to local inflationary pressures, although this is part of the problem. Banks and other lenders need to borrow money to be able to then lend it out to Home Loan customers, as they don’t hold sufficient deposits in bank accounts to cover the demand for lending. They access this from a number of different areas, with a large proportion borrowed from overseas banks. As the cost of money from these sources has increased, the extra costs are being reflected in the rates offered by lenders here.

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

Advantages

1. Security

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

2. Potential Money Saver

If you are able to fix your rate at the

right time you will save money on interest, potentially thousands of dollars. FFor example, if you were to fix a rate today you could lock in a 6.54% for two years with some lenders. These same lenders have variable rates at 6.24%. so you are looking at a difference of 0.3% to lock in a rate. If the variable rate was to keep rising, by locking in now you could save interest, however there is a risk that fixing now could cost you money too.

3.

Some Flexibility

Most lenders will allow borrowers to make additional repayments when they have a fixed rate loan without incurring a penalty. It is most common for any extra repayments to be capped at a maximum $10,000 per year.

Some lenders also offer the ability to have an offset account linked to the fixed rate loan to help reduce interest costs further, although these are generally only partial offsets usually 40%. For example if you had a $1,000 balance in an offset account only $400 of that balance would be offsetting your loan.

Disadvantages

1. Penalties may be payable for early repayment

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

2. Most flexible features are unavailable

Flexible features that are standard on most variable rate loans are either not available or offered with reduced benefits on a fixed rate loan.

3. Potential to lose on the interest rate bet

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

4. Potential for higher repayments once the fixed rate expires

A large number of borrowers have fixed their rates at historically low rates for the next few years. Once these rates expire the new interest rate will have increased significantly during this period, so their loan repayments could be much higher than what they have been used to paying. Borrowers may be in for a rude shock in the next year, depending on how long they locked in for when rates were much lower.

Split Loans

If you can’t decide which option is the best one for you it is possible to hedge your bets. Lenders also offer a split loan option which means you can have a portion of your loan at a fixed rate and the balance on a variable rate. By splitting your loan you retain the flexible repayment features of a variable rate loan, as well as having some of your loan locked away securely on a fixed rate for a few years.

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

At SHL Finance we are available to speak with you at any time. We are already proactively helping our clients negotiate a better rate with their current lender, reviewing their existing loans and discussing ways to potentially save clients thousands of dollars. We would love the opportunity to help you too. Please call Reece Droscher on 0478021757 to discuss your options.

Long Covid

NATUROPATH

By Kathryn Messenger

It may come as a surprise, but post-viral syndrome is not a new health issue. If you’ve lived a few decades, you may remember in the 1980’s and 90’s, that chronic fatigue was the term used to describe the long-term exhaustion which was usually caused by the Epstein Barr virus. Studies at the time found that muscle function, attention and memory were severely hampered, although the cause was largely unknown.

Similarly, whilst there are a range of long covid symptoms such as neurological, digestive, cardiovascular and autoimmune disturbances, for most people, fatigue is what has the greatest effect on the ability to function normally.

As the term chronic fatigue suggests, the fatigue lasted for months after the initial viral infection. This obviously has an enormous impact on people’s lives, as their ability to carry out day-to-day tasks can be severely hampered.

Conventional medicine has little to offer in the case of chronic fatigue, and this is where natural medicines really shine.

Studies from the 1990’s show herbal medicine to be effective in treating post

viral syndromes and new research is emerging in how effective it is in treating long Covid.

In treating post-viral syndrome with herbal medicine, a combination of herbs are used so that the mix includes antiviral, adaptogen, and adrenal tonics. This way both the causes and the symptoms are being addressed.

I wrote about antivirals last month, please refer to that article if you would like to know more about antiviral herbs.

Adaptogens are herbs that help the body adapt to and recover from stress. The following adaptogens have been studied and found to be effective in post viral syndromes:

• Astragalus - immune regulation, increased immune cells, antiinflammatory, antiviral

• Withania - regulate inflammation, anti-viral, anti-stress, inhibit SARS CoV2

• Green tea - binds to the virus proteins and inhibits further damage

A study of a combination of herbal adaptogens specifically for long covid-19 showed significant relief of all long covid symptoms, but especially for pain, fatigue, cognition, anxiety, and depression.

Naturopaths and herbalists prescribe individually, so for example, if you have neurological or digestive issues along with fatigue, different herbs would be added to the mix to address these issues. If you’re suffering from post-viral syndrome, or fatigue of any kind, herbal medicines can make a significant difference to your recovery.

Here at Whole Naturopathy we have a range of effective treatments for both long covid, or fatigue of any kind. Book an appointment today to start seeing improvements.

Kathryn Messenger

BHSc (Naturopathy)

kathryn@wholenaturopathy.com.au

Suite 1 53/1880 Ferntree Gully Rd

Mountain Gate Shopping Centre

Ferntree Gully, Victoria

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.

World Day of Grandparents 2023

By Abby

Remembering our grandparents is a wonderful way to cherish the memories and the impact they had on our lives. Grandparents often hold a special place in our hearts, and reflecting on their love, guidance, and experiences can bring us comfort and nostalgia. Here are a few ways to remember and honor our grandparents:

Share stories: Recall and share stories about your grandparents with family members or friends. Talk about their accomplishments, adventures, or memorable moments. These stories

help keep their memory alive and allow others to learn from their experiences.

Look at old photographs: Take out photo albums or digital collections of pictures featuring your grandparents. Spend time flipping through the pages or scrolling through the images. This visual journey can evoke memories and spark conversations about the times you shared together.

Visit their gravesite: If your grandparents have passed away, you can visit their gravesite to pay your respects. Bring flowers or other items that hold significance to them or your family.

Spend a quiet moment reflecting on their life and the impact they had on you.

Cook their favorite recipes: Prepare a meal using a recipe that was cherished by your grandparents.

Cooking and enjoying their favorite dish can be a meaningful way to connect with their memory and keep their culinary traditions alive.

Create a tribute: Consider creating a tribute to your grandparents, such as a scrapbook, a digital photo montage, or a written piece about their life. Include memories, photographs, and any other mementos that hold significance.

Carry on their traditions: If your grandparents had specific traditions, customs, or values that were important to them, consider incorporating those into your own life. Whether it's celebrating certain holidays, practicing a hobby they enjoyed, or passing down their wisdom to future generations, honoring their legacy can be a meaningful tribute.

Remembering our grandparents allows us to honor their memory, preserve their legacy, and keep their love and wisdom alive in our lives.

Approaching Retirement: Are you ready?

RETIREMENT

By Warren Strybosch

If life is what happens when you’re making other plans, retirement is no exception. Thanks to health issues, redundancy and family responsibilities you might be saying goodbye to working life before you’re good and ready.

If you are in a position to put your plans for retirement into action, health, wealth and happiness are all up there as things to think about. From finances to feelings about leaving work, this article is all about the things to keep in mind when planning for life beyond the 9 to 5.

Ready for change?

A job can be more than a way to get paid. When colleagues and career mean more to you than the money, moving on can be tough. If you’re expecting retirement to leave a big gap in your life, planning new routines, rewards and friendships will boost your sense of optimism and wellbeing. By thinking about this ahead of time, and even taking steps to explore options, you can feel like you’re swapping a positive experience of working life for something even better.

“I retired 3 years ago when I decided I’d had enough of work! I love being retired, it’s all about freedom to do what I want, no routine, and not having to be on guard all the time like at work.”

Pauline, retired for three years.

The right choice for your health

Whether you love your job or can’t wait to retire, your health could force the issue. Depending on the type of work you do, retiring early may become the only option when health problems are in the picture. The same may be true if you need more time to care for a partner in poor health. So it’s no wonder the Australian Bureau of Statistics (ABS) reports personal health as the second most common reason for retiring.

50% of Australians were influenced by work availability or health reasons when considering when to retire.

Financially fit for retirement

The same ABS figures show wealth as even more common than health when it comes to reasons for making the move into retirement1. 41% of men and 34% of

women said financial security had the biggest influence on their decision. Knowing what you’ll spend in retirement and where that money will come from can give you confidence that you’re financially ready to make the change.

Is part-time work an option?

Continuing with paid work in retirement can be a way to stick with a routine you’re comfortable with and make your super last longer. If you’re eligible for the Age Pension, it’s good to know you can still earn some income without your payments being affected up to a certain level (this is called the income test threshold). There is also the Work Bonus that allows you to earn income up to a certain threshold without reducing your Age Pension. And if you take a break, you can build up your Work Bonus balance and earn more when you start working again.

Visit the Department of Human Services website for more on the Work Bonus and the latest on eligibility, thresholds and balance limits.

Expectation vs reality

The time when you want to retire and when it actually happens can often be quite different. According to the ABS, 70% of those intending to retire from the

workforce indicated that they intend to retire after reaching age 65. But whilst you might be prepared to keep working well into your 60s, there’s a significant gap between that expectation and reality. For many people it’s a case of being pushed into retirement by circumstance rather than making a carefully planned choice. If we look at when people are actually retiring, the average age at retirement for those retiring in the last five years was just under 63. Almost half of Australians are making this earlier than anticipated move into retirement due to health issues or redundancy.

How long will you spend in retirement?

Freedom from working life can be a positive, even if it happens sooner than expected. But it can create problems for your finances when your time in retirement stretches into several decades.

Australians are living longer due to improvements in medical care and living standards. The average life expectancy has risen in recent years and continues to increase, particularly for people over the age of 65. And, unless living longer runs in the family, most people tend to underestimate just how long they’ll live.

A National Seniors Australia survey (2015) previously found that those aged 55-64 underestimated their life expectancy by almost 5 years.

How many more years are you likely to need to plan for?

An Australian male aged 65 could expect to live to 88, while a female aged 65 could expect to live to 90.

Warren Strybosch Award winning Financial Adviser and Accountant

has

provided as

I Estimates calculated using Australian Life Tables 2015-17 with 25-year mortalit improvements as provided by the Australian Government Actuary. There is a 50% chance of living for this number of years at these ages.

Of course, this is great news for all the plans you have for life beyond work. But it can put real pressure on your finances. Once you’ve stopped earning a wage from work, you’ll need a different kind of income to cover living costs and turn your plans for retirement into reality.

Speak to your financial adviser about income strategies and investments available to help protect against the risk of running out of savings later in life.

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/

Warren Strybosch is Authorised representative (No. 468091) 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.

of the advice.

advice.

have not considered your financial

needs or objectives.

should consider

should obtain and consider the relevant Product Disclosure Statment (PDS) anf seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mention in this communication. Whilst all care has been taken in the preparatin 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 representative accepts responsibility for any loss suffered by any person arising from reliance on this information.

Talking About Lifetime Annuities

AGED CARE

By Warren Strybosch

A lifetime annuity is a financial product that pays you a regular income in excahnge for a lump sum investment. Using a part of your money from savings or super, you can invest in a lifetime annuity and receive regular income payments for life.

Complement your existing retirement income

A Lifetime annuity complements other reitrement invesments and sources of income, such as a pension from your super and the Aged Pension. They provide a lifetime income which can be used as the foundation of your retirement portfolio.

Regular income you can rely on

A lifetime annuity provides regular income payments for the rest of your life. Even if you live longer than you expect to, you'll have no concerns about your payments stopping.

Challenger lifetime annuity features at a glance

Make your retirement income last a lifetime

What is a lifetime annuity?

Whether you love your job or can’t wait to retire, your health could force the issue. Depending on the type of work you do, retiring early may become the only option when health problems are in the picture. The same may be true if you need more time to care for a partner in poor health. So it’s no wonder the Australian Bureau of Statistics (ABS) reports personal health as the second most common reason for retiring1.

Different payment solutions to suits your needs

They provide different monthly payment solutions to suit your financial circumstances and needs. For income centainty, you can choose CPI indexed or fixed payments. Alternatively, you can choose to have payments linked to changes in the RBA cash rate or investment markets.

An Age Pension boost if you're eligible

Investing in a lifetime annuity may help boost your Age Pension entitlements under the Age Pension assets test rules.

Flexibility

to withdraw

if circumstances change

There is a long period where you can access a lump sum if your circumstances change (unless you ask for this feature to be removed). Bear in mind that a Challenger lifetime annuity is designed to be held for life, so you may get less back if you decide to withdraw.

Frequently asked questions

I need flexibility with my finances. Why would I lock my money into a lifetime annuity?

Lifetime annuities are just one source of income in retirement. By knowing you have a source of regular income, it can help you plan and budget for the future.

What if things change and I need access to my investment?

While Challenger lifetime annuities are designed to be held for life, you have the flexibility to access a lump sum within a defined period if your circumstances changei.

Will I lose all my money if I die earlier than expected?

Challenger lifetime annuities pay a guaranteed death benefit within a long death benefit periodi. The death benefit is up to 100% of the amount you invest and is payable to the beneficiaries you nominate or to your estate. This gives you certainty and control over your estate planning outcomes.

How much do I need to invest?

You don’t need to invest all your retirement savings into an annuity. You can invest as little as $10,000.

How safe is my investment?

The Challenger Life company and our annuities are regulated by the Australian Prudential Regulation Authority (APRA). They actively monitor our investments with the aim of ensuring we can secure income payments for your lifetime. The money we receive from your investment is held separately in a statutory fund. This statutory fund is required to hold enough capital to withstand a one in 200-year investment market shock event.

For more about Challenger lifetime annuities, speak to your financial adviser, visit challenger. com.au or call 13 35 66 (from 8am to 6pm AEST, Monday to Friday).

CONGRATULATIONS!

WARREN STRYBOSCH

Find Group

on winning the Holistic Adviser of the Year again at the IFA Excellence Awards 2022.

The founder of the Find Group of companies draws on his diverse background, which ranges from teaching, to serving in the army, to taxation and accounting, to coach and help clients live their best financial lives. A multi-award winner, Warrens’s innovative approach in business means he was a champion of virtual financial advise long before the pandemic. Warren established the Find Foundation, which owns and operates accros Victoria.

TOP 50 MOST INFLUENTIAL FINANCIAL ADVISER IN AUSTRALIA 2021 & 2022

The financial advisers featured in this guide are a diverse group: some specialise in responsible investment advice, some provide financial advise to specific professions, and some focus on addressing market gaps, mwith several finding themselves on the list for the very first time. But they all have one thing in common: they all wield influence that can create the blueprint for the future of financial advice in Australia. Not all of them are faniliar names but just because they are not making a lot of noise doesn’t mean they are not making waves. Meet our Power 50.

Proposed changes to taxation of superannuation for high-value account holders

ACCOUNTANT

By Warren Strybosch

On 28 February 2023 the government announced they would be increasing the tax paid on superannuation fund earnings for high-value superannuation account holders.

This initiative will target people with a total superannuation balance exceeding $3 million and is expected to apply from the 2025-26 financial year. The scheme will not be implemented until 1 July 2025 - after the next Federal election.

At the present time, details of how the scheme will work are limited. The government has announced it will consult with the superannuation industry regarding implementation of the scheme.

The current situation

Superannuation funds pay tax on their investment earnings. The following table illustrates the rate of tax generally paid.

This proposal does not apply to individuals with a total superannuation balance of less than $3 million.

Total superannuation balance

The total superannuation balance is the sum of all amounts a person holds in the superannuation system. It is calculated on 30 June each year and, at a high level, includes:

• amounts held in accumulation accounts, and in defined benefit schemes,

• amounts held in pension or income stream accounts, such as an account-based pension,

• amounts in the course of being rolled over from one super fund to another on 30 June,

• the amount of any outstanding limited recourse borrowing arrangement held by a selfmanaged super fund, in certain circumstances.

Any amounts contributed to superannuation as a personal injury contribution are excluded from the calculation of the total superannuation balance.

You can track your total superannuation balance by checking your MyGov account, or by contacting your superannuation fund.

A person’s total superannuation balance is critical when determining:

Tax on earnings?

While the government’s announcement and media commentary suggest an additional tax will be paid on superannuation fund investment earnings, this is not entirely correct.

Firstly, the tax calculation is based on an adjusted movement in a person’s total superannuation balance rather than on the actual earnings of their superannuation accounts. As a result, the extra tax may become payable on unrealised capital gains.

Secondly, the tax will not paid by the superannuation fund – rather it is levied on the individual member, personally. Once a tax assessment is issued, members will have the option of paying the tax personally to the Australian Taxation Office (ATO) from their own savings, or having the tax payable released from their superannuation account.

Finally, while it is estimated that less than 80,000 Australians will be affected by the additional tax, this will grow over time as it appears the $3 million threshold will not be indexed to keep pace with inflation. Over time, more Australians will be subject to this additional tax.

Calculating the tax

People with a total superannuation balance that exceeds $3 million will pay an additional tax of 15% on a portion of the earnings on their superannuation.

• if they will be affected by the proposed change to taxation of superannuation fund earnings and, if so,

• how any additional tax will be calculated.

The calculation of tax payable when a person has a total superannuation balance exceeding $3 million is complex, however the following steps and worked example may help to illustrate how the proposed tax will be calculated.

The proposal

TSB current FY - TSB previous FY + Withdrawals - Contributions = Earnings

Step 2 - calculate the proportion of earnings corresponding to funds above $3 million.

TSB current FY - $3 million

TSB current FY = Proportion of Earnings

Step 3 - calculate the tax liability.

15% X Earnings X Proportion of Earnings = Tax Liability

Example

Jolene had a total superannuation balance of $4,200,000 on 30 June 2026. Her total superannuation balance on 30 June 2025 was $3,750,000.

During the 2026 financial year contributions of $30,000 were made. During the year Jolene withdrew $100,000 from her super as a lump sum.

Step 1 - calculate earnings.

$4,200,000 - $3,750,000 + $100,000 - $30,000 = $520,000

Step 2 - calculate proportion of earnings.

$4,200,000 - $3,000,000 = 29% $4,200,000

Step 3 - Calculate the tax liability.

15% X $520,000 X 29% = $22,620

For the 2025-26 financial year, Jolene will have a tax liability, based on the earnings of her superannuation fund, of $22,620.

If the calculation of earnings results in a negative (loss) amount, the loss is carried forward to future years.

What action should I be taking now?

The proposal announced by the government on 28 February will be subject to lengthy consultation before it moves to the next stage. Legislation will then need to be passed for the proposal to become law.

Currently, the government does not propose introducing the measure until 1 July 2025, which is after the next Federal Election is due to be held.

For people likely to be affected by this measure, take time to understand how it works and how you may be affected.

Important Information

There is still a lot of uncertainty around the measure and its eventual impact.

Taking immediate action, like withdrawing money from superannuation, is probably not a strategy that should be pursued at this early stage unless you had plans to withdraw your super irrespective of this proposal. Once money is withdrawn from superannuation, particularly for individuals with significant account balances, it is unlikely you will be able to recontribute it to superannuation.

Importantly, before taking any action in response to the government’s proposal, speak with your financial adviser or other financial professional.

Warren Strybosch

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

This information is of a general nature only. It does not take into account your particular financial needs, circumstances and objectives. You should obtain professional financial advice if you have not already done so before acting on this information. You should read the Product Disclosure Statement (PDS) before making a decision to buy or sell a financial product. Any case studies, graphs or examples are for illustrative purposes only and are based on specific assumptions and calculations. Past performance is not an indication of future performance. Superannuation, tax, Centrelink and other relevant information is current as at the date of this document. This information contained does not constitute legal or tax advice.

New ATO requirements when a SMSFs sets up an account-based pension

FINANCIAL PLANNER

By Erryn Langley

Back in 2013, the Australian Taxation Office (ATO) issued a Taxation Ruling that addressed the rules around paying pensions.

While the Ruling applied to all superannuation funds, there are specific implications for SMSFs. On the surface, SMSFs appear to have additional flexibility when compared to APRA regulated funds.

Firstly, it is quite a common practice for the commencement of a pension to be backdated to an earlier date, often the previous 1 July. This may be for administrative simplicity or because the member balance at the end of the previous financial year is not available due the financial statements not having been prepared.

However, when considering the Taxation Ruling, and particularly paragraph 12, while a pension may commence before the first income payment is made, it cannot commence before a member has made a request or application for a pension to commence.

We recommend members requests to commence a pension should always be in writing or using an application form provided by the trustees of the superannuation fund, the fund’s administrator, or the fund’s document provider. The request should always be made before the pension commences.

The practice of backdating the commencement of a pension from a SMSF became more complex with the introduction of the transfer balance cap.

While some SMSFs have historically been able to provide their transfer balance account reporting when the fund submits its statutory return, this will change from 1 July 2023.

From 1 July 2023, all SMSFs will be required to lodge transfer balance account reporting by the 28th day of the month following the end of the quarter in which the reportable event (e.g. commencement, reversion, or commutation of a pension) occurs.

The ATO has advised that all unreported events that have occurred by 30 September 2023 must be reported by 28 October 2023. Likewise, for pensions that commence in the first quarter of the 2024

financial year (e.g. on 1 July 2023) will also need to be reported by 28 October 2023.

On a final note, when a SMSF commences to pay a pension to a member, the trustee needs to provide the member with a product disclosure statement that provides details of the pension being paid. Most SMSF document providers have a PDS specific to their trust deed.

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.

LACTATION CONSULTANT

By Dr. Joanna Strybosch

Tattooing has become a popular form of self-expression and body art. With an increasing number of people getting tattoos, there are some important considerations for individuals who are planning to breastfeed or are already breastfeeding. While there are potential risks associated with tattooing, it is possible to safely navigate the process without compromising the well-being of mother or baby.

Timing and Healing:

If you're considering getting a tattoo while breastfeeding, timing is crucial. It's generally recommended to wait until your baby is at least six months old before getting a tattoo. By this time, your breastfeeding routine and milk supply would be well-established, reducing any potential disruptions caused by the healing process.

Safety and Hygiene:

When getting a tattoo, prioritising safety and hygiene is essential, especially when breastfeeding. Ensure that you choose a reputable tattoo studio that follows strict sterilization practices and uses disposable, single-use needles. This helps minimize the risk of infection and ensures a safe environment for both you and your baby.

Make sure to communicate your breastfeeding status with your tattoo artist beforehand, as they may have additional recommendations or precautions based on their expertise and experience.

Placement Considerations:

While there are no specific restrictions on tattoo placement for breastfeeding mothers, it's worth considering the potential impact on your comfort and convenience. For instance, if you plan to get a tattoo on your breast or areola area, it's advisable to wait until after you've finished breastfeeding. Changes in breast size and shape during lactation could distort the tattoo or lead to undesirable outcomes.

Choosing a different location for your tattoo, such as the arms, legs, or back, can help ensure that your breastfeeding journey remains unaffected while still allowing you to enjoy your body art.

Ink and Allergies:

Some individuals may be concerned about potential risks associated with tattoo ink and breastfeeding. While rare, allergic reactions to tattoo ink can occur.

Tattooing and Breastfeeding

To minimize the risk, consider getting a patch test done before getting the tattoo to check for any adverse reactions.

If you're concerned about the composition of tattoo inks, it's advisable to consult with your tattoo artist. They can provide information about the ingredients and discuss any potential risks associated with the specific ink brand being used.

Conclusion:

Tattooing and breastfeeding can be safely navigated with proper planning and considerations. By choosing the right time, ensuring a clean and safe environment, and communicating with your tattoo artist, you can minimize any

potential risks and enjoy the body art you desire. Remember to prioritise your own well-being and the well-being of your baby throughout the process. If you have any concerns or doubts, it's always a good idea to consult with healthcare professionals or a lactation consultant who can provide personalised advice based on your specific situation.

Manningham

New Budget and 10 Year Financial Plan to deliver for the Manningham community

• Continuing work to upgrade Jumping Creek Road

• Developing a park at Hepburn Reserve.

“We’re continuing to invest in our community infrastructure with an extensive $54 million capital works program to maintain and enhance Council’s $2.5 billion of community assets,” Cr Diamante said.

“Pressures around cost-of-living affect us all, so we are providing over $1 million of relief measures. We’ll also continue to maintain our important community assets through an allocated $20 million.”

Council will also deliver on its Climate Emergency Response Plan, she said. “Through proposed capital works spending, Manningham will reduce the impacts of climate change.”

We’re delivering on our Council Plan. This includes:

Manningham Council endorsed the 2023-24 Budget and 10 Year Financial Plan at its last meeting, Tuesday 27 June 2023.

Manningham Mayor, Cr Deirdre Diamante said an operating budget of $147 million will see Council delivering over 100 important services for Manningham.

Budget highlights include:

• Installing traffic signals at Tram Road/Merlin Street intersection

• Upgrading Melbourne Hill Road drainage

• $38 million for a healthy community

• $24 million for liveable places and spaces

• $22 million for a resilient environment

• $5 million for a vibrant and prosperous economy

• $31 million for a well governed Council.

For further information, go to manningham.vic.gov.au/budget.

Zen Weeding and the Art of Bushland Regeneration

Join our local Land Restoration Guides, Alan Noy and Glenn Jameson for an interactive walk in 100 Acres Reserve, and for a summary session in the study room.

Learn how to successfully tackle weeds and support local wildlife on your block. Become empowered to collectively regenerate our native bushland and help it thrive, so that you can improve the natural beauty of where you live.

This workshop is FREE and take home notes will be provided. Wear shoes and clothing appropriate for a bush walk and the weather on the day. Bring a water bottle and a notepad and pen. Free light lunch provided.

Location will be provided upon registration

Council News

Manningham Council invites everyone back to Ruffey Lake Park to plant this National Tree Day. Join around 300,000 other Australians in coming together to give a gift to our environment. Over 500 native habitat plants were planted by volunteers at Ruffey Lake Park during the last event in 2022 and Council is preparing for another huge turn-out.

We will provide native trees, shrubs, and equipment for volunteers, as well as a free sausage sizzle cooked by the Rotary Club of Doncaster.

“This event is a wonderful chance for everyone to get involved and to connect with other members of the community, nature and our local environment”, said Mayor Cr Deirdre Diamante.

Planting native habitat plants plays a critical role in tackling climate change, improving air, soil, and water quality, as

well as creating homes for local wildlife and encouraging biodiversity. Each year, National Tree Day makes a critical contribution to the restoration of Ruffey Lake Park that has been underway for over ten years. This year volunteers will continue to create a vital habitat corridor along Ruffey Creek by planting out vegetation along the creek to improve the health of the water quality and reducing stream bank erosion as well as providing habitat for an abundance of small birds and reptiles such as lizards and skinks.

Event Details:

When: Sunday 30 July from 10.00 am to 12.00 pm

Where: The planting site will be along Ruffey Creek, between Ruffey Lake and the Victoria Street Entrance.

Register at: https://treeday.planetark.org/site/10028082

June Council Meeting Wrap Up

Our June Council meeting was a busy one where we adopted the 2023/24 Budget and 10 Year Financial Plan, and it is now available online and printed copies will be available at our libraries and Civic Centre.

We reviewed a new draft Affordable Housing Policy. The draft Policy provides direction on how Council will encourage ‘Affordable Housing’ outcomes through advocacy, land use planning, relationship building and investment.

I hope you can make it to our July Council Meeting. If not, you can watch the livestream on Facebook.

How to talk to young people about vaping: an online seminar for parents and carers

harm when talking about vaping with the young people in your life.

Attendees will have the opportunity to ask questions and will be given information about where to go for further help.

This event is a collaboration with Manningham, Monash, Kingston, Boroondara and Yarra Ranges

Meet the panel members

Sharon Torpey from Drug Education

Sharon Torpey is the Founder and Director of Drug Education Australia, a leading provider of high quality, factual drug education. Sharon is a qualified Physical Education and Health Teacher, with 25 years’ experience connecting with young people and their parents.

Are you a parent or carer and not sure how to talk to your young person about vaping?

Join a panel of experts as they unpack the known health implications of vaping and what the recent legal reforms will mean for young people. This online seminar will also cover ways to facilitate conversations, strengthen communication and minimise

Mind Calm - Guided Meditation and Mindfulness

Mind Calm will be facilitated by group therapists and is suitable for those who are new to meditation and people who wish to explore or extend their current practice.

• Discover what mind stilling methods work for you.

• Experience mindfulness.

• Learn breathing techniques.

• Practice different types of meditation.

Amanda Low from Healthy Communities Coordinator, Prevention Division at Quit

With a background in Public Health and as the Healthy Communities Coordinator at Quit, Amanda Low leads prevention strategies to reduce harm caused by smoking and vaping within communities and settings.

This event has a series of four sessions.

Getting there

Located on Doncaster Road between Westfield and the Manningham Council Civic Centre, MC2 is conveniently accessible by public transport.

There are ample parking spaces on site including 4-hour parking underneath the building. Access to level 1 via the lift or via stairs in the front foyer.

Do you need support to help your baby learn to sleep? Come along to one of our free information sessions.

Topics covered will include:

• Age specific development

• Normal sleep patterns

• Ways to deal with sleep difficulties

• Information about your wellbeing.

There will be time at the end of the session for you to ask questions about your specific situation.

In addition to the sessions, we are proud to provide an outreach service for interested parents. Speak to our Sleep and Settling Specialist at the end of the session for more information.

This session is designed specifically for parents of older babies aged between 6 and 8 months.

Do you need support to help your baby learn to sleep? Come along to one of our free information sessions.

Through the Maternal and Child Health Sleep and Settling initiative, we are providing support for parents experiencing sleep and settling concerns with their young children.

During this online session, consultants will teach you an evidence-informed sleep and settling model of care.

Sessions are also available for newborn babies and toddlers.

Please note: these sessions are only open to Manningham registered clients

Events Partners

Working in partnership with the Victorian Government, this program is part of the ‘More help for new Victorian mum and dads’ initiative.

Australian Citizenship Ceremonies

Becoming an Australian citizen represents a commitment to Australia and its people.

All applications for Australian citizenship are processed by the Department of Home Affairs. Further information on how to apply for Australian Citizenship is available from the Australian citizenship website (Australian Citizenship) or the Citizenship Information Line on 131 880.

For most people, the final step in becoming an Australian citizen is making the pledge of commitment at an Australian

Citizenship Ceremony. Applicants for Australian Citizenship will generally be invited to attend a ceremony within 3 to 6 months from the date their application is approved.

You will receive a written invitation to your ceremony from the Department of Home Affairs.

While Manningham hosts Australian Citizenship Ceremonies, the Council is unable to provide further information regarding the timing of your ceremony.

“Characters”

Photo by : Ewan Simpson

By Rob “Stormy” Fairweather

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 Leanne Sullivan.

A brief insight into Leanne’s working life, her involvement at Donvale Bowls Club, and the experiences it provided.

She grew up in the seaside area, attending Brighton Primary School and Brighton Secondary College.

Upon leaving school, she pursued a career in the dental industry, filling roles in both nursing and management.

In 2018 retiring after a 42 year-long career the last three decades spent serving a single employer.

She met her husband John in the early 1980’s.

They shared a mutual love of tenpin bowling, enjoying many years of competition at the state level.

In addition, during the late 1980’s and early 1900’s participated

in numerous fun runs, including completing in a half marathon. In the mid-1980’s, Leanne relocated to Doncaster and later married John.

They had a son named Charlie.

The family held a passion for travel, enjoying and exploring both Australia and overseas.

Their last major trip together was in 2017, a six-week European adventure, it was here they bid farewell to Charlie who continued his own six month-long world tour.

Sadly in 2019 John passed away, Leanne seeking activities to fill in her spare time.

In 2020, she signed up with the University of the Third Age (U3A) at the Blackburn Bowls Club, unfortunately her involvement was short-lived due to the onset of the Covid pandemic.

With Melbourne beginning to reopen later, the only club accepting U3A members was the Donvale Bowls Club, she signed up and became a

Sullivan

fully-fledged member in August 2021.

Leanne is immensely grateful to Barry and Julie Wilkins for introducing her to the challenging sport of lawn bowls and welcoming her into such a fantastic club.

She played in the Pennant 21/22 season in the 6th division, which her team won.

Triumphed in several Club Championship events, securing victories in the 100-up and pairs in 2023.

Also managing to secure runnerup in the mixed pairs, triples, and novice singles.

How fortunate we are to have Leanne at Donvale.

A tireless worker and volunteer, involved in so many aspects at the club that may be challenging or need addressing.

Trust, you agree her enthusiasm and laughter enhances and motivates us all.

Leanne