Find Manningham September 2024 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.

International Day of Charity: A Celebration of Human Kindness

By Mary Barnes

International Day of Charity, observed annually on September 5th, is a global celebration of compassion, generosity, and the power of human kindness.

Established by the United Nations in 2012, this special day aims to raise awareness about the importance of charitable giving and volunteerism. It serves as a platform to recognise the invaluable work of charities and nonprofit organisations worldwide, which tirelessly strive to address pressing social and humanitarian issues.

The day is also a call to action, encouraging individuals, communities, and businesses to come together and make a positive impact on the world. Whether it’s through volunteering, donating to a cause, or simply spreading kindness, every act of generosity counts. By supporting charitable initiatives, we can help alleviate suffering, empower marginalised communities, and build a more just and equitable society.

International Day of Charity is a reminder that we are all interconnected and that our actions have the potential to create a ripple effect of positive change. It inspires us to look beyond ourselves and consider the needs of others, fostering a sense of empathy and compassion. By celebrating this day, we honour the spirit of human solidarity and reaffirm our commitment to building a better world for everyone.

Bookkeeping - Back to basics

BOOKKEEPING

By Jodie Moore

Each month, I will bring you some simple bookkeeping skills to help you run your business with ease. Bookkeeping is an important part of running your business and one that not everyone puts enough time into. When done properly though, it can truly save you time and money.

What is bookkeeping?

1. the activity or occupation of keeping records of the financial affairs of a business.

Keeping your finances in order will allow you to monitor your business and quickly see potential issues before they arise and get on top of them when they do. It will allow you to see who owes you

money, who you owe money to and whois consistently slow to pay you amongst many other beneficial reports.

Let’s begin by looking at some Basic Bookkeeping terms:

Accounts Payable: this refers to the account which tracks the people, suppliers, banks and other third parties that you owe money to.

Accounts Receivable: this refers to the account which tracks the people, customers, companies and other third parties who owe you money.

GST paid – when you pay for goods and services, you will be paying GST to that business. It is good practice to keep track of this as you will need it if you are registered for GST when it comes time to lodge your Business Activity Statement (BAS). GST paid is considered an asset

Ultimately, International Day of Charity is about recognising that charity is not just an act of giving, but a powerful force for transformation. It is a catalyst for hope, a bridge between different cultures, and a testament to the resilience of the human spirit. Let us embrace this opportunity to celebrate the extraordinary work of charities and to inspire a new generation of philanthropists who will carry the torch of compassion into the future.

as you have already paid it and do not owe it to anyone.

GST received – when a client or business pays you for goods or services, a portion of the amount you receive will be the GST amount. This is not your money, it will need to be paid to the ATO when you next lodge your BAS. As you owe this money to the ATO, it is considered a liability. It is good practice to have a separate bank account to ‘store’ this money so that you have it readily available when it comes time to pay it to the ATO.

BAS - your Business Activity Statement is required to be lodged monthly, quarterly or annually depending on your business. This is a statement that works out how much GST you paid in that quarter against how much GST you received. If you received more GST than you paid, then you owe the difference to the ATO. If you paid more GST than you received, you will receive a refund.

Balance Sheet – this is a snapshot of your business at a particular point in time and includes your assets, liabilities and capital of your business.

Chart of Accounts – a list of all the accounts you use to categorise your financial transactions to record them in your general ledger. They act a bit like a map, categorising your transaction types into asset accounts, liability accounts, equity accounts, revenue accounts, and expense accounts.

WHAT CAN YOU DO TO MINIMISE THE IMPACT OF A HOME LOAN INTEREST RATE INCREASE?

MORTGAGE BROKERING

By Reece Droscher

If you were one of the many borrowers who fixed a rate on your Home Loan when rates were under 2%, you either have recently seen your fixed rate expire and have moved on to a higher variable interest rate, or are about to have this happen. Borrowers who had a fixed rate that has already expired have seen their loan repayments increase significantly. To try and minimise the impact of these changes to your cash-flow there are a few strategies that you can implement.

1. REVIEW YOUR CURRENT HOME LOAN

As a mortgage broker I regularly come across people who have had a Home Loan with the same lender for five years or more. They have simply been paying the required repayment without ever thinking about what the current interest rate is, the fees that are being charged and what other lenders may be offering.

In the current environment it is a mistake to assume that your current Home Loan is providing you with the best value. By having your loan reviewed a Mortgage Broker may be able to present products from lenders offering lower interest rates

than you are paying currently. This could potentially save you thousands on interest costs or help you pay your loan off sooner.

Another benefit of having a review is to ensure the type of loan you have remains the most suitable to meet your current needs. Offset, redraw, the ability to make extra repayments or switching your rate between fixed and variable rates are all options your Mortgage Broker can review for you.

2. CONSOLIDATE MORE EXPENSIVE PERSONAL LOANS AND CREDIT CARDS

You may also have some smaller debts, such as credit cards or personal loans, that are charging higher interest rates but could be consolidated into your Home Loan. This could help repay these debts sooner by reducing the costs of these debts but would also simplify your finances, reducing the number of loans and repayments being made to multiple lenders.

NEGOTIATE A BETTER DEAL WITH YOUR CURRENT LENDER

Even without refinancing your Home Loan to another lender, your Mortgage Broker may be able to negotiate a better deal

with your current lender. It costs a lender a lot more to attract new borrowers than to keep their existing customers, which is why they invest a lot of money in business retention teams. By looking at what competitors are offering your Broker can use this information to leverage a lower rate with your existing lender.

It is also important to note that a mortgage broker is required to act in their client’s best interest by law, which is different to the requirement on a lender when you deal with them directly. That is why the best person to review your Home Loan is your local Mortgage Broker. At SHL Finance 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 our clients thousands of dollars. We would love the opportunity to help you too.

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

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

INTERESTING CAR DISCUSSIONS

I decided to sit down with a gentleman who is well known for his love of classic and vintage cars and the discussion immediately became VERY interesting:

Q: What is your current project?

A: The “RE-EMERGE” of the Dame Nellie Melba family car.

Well, I was not really ready for this answer and was amazed at the historical value of this event.

Q: What is this car?

A: It is a Sunbeam Talbot 10 (1939) 4-door, 4-cylinder, 10hp –Gun metal grey in colour.

Q: That sounds great but what is the importance of this car to the community?

A: The history of this car is just so important to the Community of Melbourne and Australia! It was given to the grand daughter, Pamela, by Dame Nellie Melba’s son (Pamela’s father) on the occasion of her 21st birthday in 1939. Pamela became Lady Pamela Vestey.

Q: How did you purchase the car, and how did you hear about it? Let’s hear all about it.

A: The Manager of Coombe Cottage (Dame Nellie Melba’s home) in Coldstream contacted the Sunbeam & Talbot Owner’s Club to come and have a look at the car which was stored in the barn/hay shed (alongside vintage horse carriages). Two members from the Sunbeam & Talbot Owners Club came to have a look!! It was purchased in late 2023 and they have restored it to the original running condition.

Lady Pamela became the guardian of her grandmother’s legacy and the chatelaine of Coombe Cottage in 1973. Her sons, Sam and Mark, went to Yering Primary School; Lady Pamela returned to England so that her sons could attend Eton, the famed college to attend.

She was a widow at this stage – her husband, Baron William Vestey, had joined the Scots Guards but was killed in action in Italy on the 25th of June 1944. We believe there is a book written and published by Lady Pamela regarding her grandmother Dame Nellie Melba – Melba: A Family Memoir. A story in this

book tells of the lady gardeners organised by Edna Walling and also Pamela’s 10th birthday – a fancy-dress party.

Q: Let’s get back to the car – why did you buy the car?

A: Terry states that he and Malcolm fell in love with the car and its history and felt that he wanted to make sure it stayed in the Eastern suburbs of Melbourne where most of its history is. His mate Malcolm and he spent many hours in recent months enjoying the car restoration. Of course they could have some fun with their matemanship as well.

Q: What are you planning for the car now?

A: There is to be an official “Re-emergence” of the car into the community! It will be held on the 18th of September at the Heatherdale Reserve, Purches Street, Mitcham. Hon. Michael Sukkar is to cut the ribbon, and it will be an important day in the history of Melbourneand indeed Australia.

Investment

FINANCIAL PLANNER

By Erryn Langley

Investment bonds, or insurance bonds as they are also known, are issued by life insurance companies. They have features similar to a managed fund combined with a life insurance policy. They can be a tax effective way to invest if certain rules about contributions and withdrawals are followed.

Investment bonds are used for a range of purposes including:

• A medium to long term lump-sum or regular savings plan

• A tax effective investment for investors or high income earners

• Investment bonds can be taken out by parents, grandparents and the like on the life of a child. The bond can be structured to automatically be transferred into the child’s name at a pre-determined age. This is referred to as ‘child advancement’.

• Estate planning. Because an investment bond is in essence a life insurance policy, it is subject to life insurance rules. This includes the ability of the owner of the investment bond to nominate one or more beneficiaries to receive the proceeds of the bond in the event of the death of the bond owner. By nominating beneficiaries under an investment bond, the bond does not form part of the estate of the bond owner and may be administered separately to their estate.

• Deceased estates that are required to invest bequests that will vest with beneficiaries at a later date.

Parties to an investment bond

There are three parties to an investment bond; the owner - who subscribes to the investment funds, the life insured – who may be the bond owner or someone else; and the issuer of the bond – the life insurance company.

Some bonds may include a fourth party, being a nominated beneficiary. The bond owner may nominate a beneficiary to receive the bond proceeds in the event of the death of the life insured.

Child Advancement Conditions

Where a bond is issued on the life of a child, and its ownership is to vest in the name of the child at a future date, the bond is subject to Child Advancement Conditions. The owner of the bond may nominate an age, up to 25, at which the ownership of the bond will transfer to the child.

10 year rule

Insurance bonds are tax paid investments. This means earnings on the investment are taxed in the hands of the life insurance company at the corporate tax rate. Insurance companies are generally taxed at a rate of 30% however the actual rate of tax payable may be less than 30% when tax deductions, tax offsets, and tax credits available to the life insurer are taken into account.

Investment bonds can be tax effective for long term investors with a marginal tax rate higher than 30%. An investment bond is designed to be held for at least 10 years. If you hold the bond

Year withdrawal made Tax Treatment

Within 8 years

100% of the earnings on the investment bond are included in the investor’s assessable income and a 30% tax offset applies

In the 9th year 2/3 of earnings on the investment are included in the investor’s ªssessable income and a 30% tax offset applies.

In the 10th year 1/3 of earnings on the investment are included in the investor’s assessable income and a 30% tax offset applies.

After the 10th year

All earnings on the investment are tax free and do not need to be included in the investor’s assessable income.

for at least 10 years, the returns on the investment, including additional contributions that meet the 125% rule, will be tax free. In some circumstances, investing in an investment bond for a shorter period may be an appropriate strategy.

Withdrawals

If you withdraw money before 10 years is up, some or all of the income will be taxable and included in the investor’s assessable income. This amount is taxed at the investor’s marginal tax rate - however a 30% tax offset is allowed to compensate for the tax already paid by the life insurance company. Where an investor’s personal tax rate is less than 30%, any unused portion of the tax offset can be used to reduce tax payable on other income in the same financial year.

If you make a withdrawal within the first 10 years, the rate at which earnings in the investment bond are taxed will depend on when you make the withdrawal.

Tax treatment of investment bond withdrawals

The investment earnings are calculated by referencing a formula contained in the Australian Taxation Office’s Income Tax Ruling 2346.

125% Rule

While investment bonds are often described as a ‘single premium’ or lump sum investment, many investment bonds accept both regular and irregular additional investments. Provided the amount invested in any one year – based on the anniversary of the bond commencing – does not exceed the previous year’s investment by more than 125%, it will be considered part of the initial investment.

If you exceed 125% of the previous years’ investment, the 10 year period will reset. If you do not make a contribution in any one year, a contribution in following years will reset the 10 year rule.

Investment Options

The life office issuing the investment bond may offer a range of investment options such as single asset funds i.e. cash, fixed interest, shares, property or a range of diversified options. Each option has different investment goals, timeframes, risk profiles and underlying assets.

Disadvantages and Risks of Investment Bonds

The key risks are largely determined by the nature of the investment chosen. Risks to be aware of include:

• Market risk: The performance of the investment bond will be affected by the assets and securities that it invests into.

• Fees: These may vary depending on the investment bond and investment options chosen and include management and administration fees and buy-sell spreads.

Whilst

Erryn Langley

Investment Property owners take note: ATO Results from Data Matching.

ACCOUNTANT

By Warren Strybosch

The property management data matching protocol has recently been extended by the ATO.

It is important for those who own investment properties or a second property to understand what information is being gathered by the ATO and to take note of the lodgement errors being made by property owners.

The ATO requires software providers to give details of rent and expenses for residential rental properties managed by a property manager.

The ATO has advised that the information gathered (including rental data from banks, landlord insurers, rental bond authorities and sharing economy providers) gives it insight to common investment property mistakes. In this regard, it said recent results from property data matching found the following common errors:

• instead of reporting gross rental income and claiming expenses, net rent (after expenses) is reported and the same expenses are claimed a second time

• properties are being omitted from returns

• where they are owned by multiple stakeholders, only one owner reports the property – when both are required to report

• not reporting the rental income received when purchasing an already tenanted property that the new owner intends on moving in to

• capital works or depreciating assets being claimed as repairs and maintenance.

The ATO said if property owners have forgotten to disclose any rent received or made mistakes with claiming expenses, they are encouraged to lodge an amendment as soon as possible otherwise they might face penalties and/or fines for providing the wrong information on their returns.

Warren Strybosch

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

Important Information

This information is of a general nature only. Itdoesnottakeintoaccountyourparticular 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.

If weight loss is a simple formula, why do we struggle?

NATUROPATH

By Kathryn Messenger

Part of it is due to poor diet advice. To some extent it is because sugar is highly addictive, as well as the fact that eating can be strongly driven by emotions.

We’re all basically wired to avoid pain and seek pleasure. After all, to some degree, it keeps us alive. If we’re used to short-term gratification, then why wouldn’t we go for chips and donuts rather than kale and hemp seeds (Ok, so I don’t eat kale or hemp seeds all that often.)

Rather than first focusing on your diet failure, let’s look at what’s going on at a deeper level. Are you stressed and your brain is looking for quick fuel? Are you sad and memories of cake or lollies remind you of happier times? Whatever the reason, if you look to firstly identify the cause, then work at making changes and treating yourself with kindness, you will likely see some better results.

If you do struggle with sweet cravings or carb cravings, there are a few things to look at.

• Was your last meal balanced, including carbohydrates, protein, and healthy fats?

• Did you eat enough at your last meal?

• Is it boredom eating, would a herbal tea or glass of soda water help?

• Do you have healthy snacks around for when you’re hungry?

My favourite healthy snacks are roast almonds, very dark chocolate and Chinese red dates. I also drink a lot of herbal teas, particularly in the winter when it’s cold. Be sure to have some healthy snack options around (and ideally no junk food options) for when those cravings hit. My favourite herbal teas are peppermint, nettle leaf, and licorice, but in the summer I would rather a glass of soda water with lemon juice.

Often a whole diet overhaul is difficult to maintain long-term. What one change

can you make for this week that challenges you, but doesn’t feel overwhelming? Set a reminder in your phone for next week and make another change. After just 1 month of this you may find you have established some great habits.

If you would like further support with weight loss, my weight loss course is based on the latest scientific research and will teach you how to eat to lose weight and keep it off for the rest of your life. If you have other health issues alongside a desire to lose weight, naturopathic medicines can help to support you with both of these together.

Kathryn Messenger

& RETIREMENT & AGED CARE

THE STATE OF THE ECONOMY

RETIREMENT

By Warren Strybosch

With continuing uncertainty around the world, Australia, despite the current challenges it is facing, is still better poised to cope with these uncertainties than most other countries around the world. Some take home points include:

1. $28.5 in budget improvements, with the underlying cash deficit in 202223 expected to be $36.9bn, down significantly from that announced in the March 2022 Budget.

2. The economy is expected to grow by 3¼% in 2022-23 before slowing to 1½% in 2023-24.

3. Unemployment is at a historic low level and is expected to remain low through until June 2024.

4. Rising interest rates and inflation are negatively impacting many families with wages growth not keeping pace with increased costs of living. Inflation is expected to hit 7¾% by the end of 2022 before starting to ease over the following two years.

Housing stock is a real issue for young families. For many retirees, their home, is their largest asset and with significant prices rises over the last decade, these retirees are holding on to a greater amount of wealth than they had anticipated. It makes sense then to create a way for retirees to benefit from selling their principle homes to free up equity they can invest and generate an income whilst at the same time increase the amount of properties that younger people can purchase.

With this in mind, the government, in their bid to tackle housing accessibility, has announced the extension of the downsizer superannuation contribution to those between the age of 55 and 59.

This measure was first introduced in 2017 and was previously restricted to those aged 60 and older. Now, it will become available to anyone over the age of 55.

The downsizer contribution allows people to make a one-off post-tax contribution to their superannuation of up to $300,000 per person (up to $600,000 per couple) from the proceeds of selling their home. Both members of a couple can contribute, and these contributions do not count towards their respective non-concessional contribution caps

Whilst not legislated, it is believed this measure will gain bi-partisan support and be passed in the first quarter of next year.

When retirees sell their home, they have to act quickly with the sale proceeds before the money is deemed by Centrelink. Often, retirees need longer than 12 months to build the new home and/or move into the new place of residency. It can become a real shock to some retirees, when they have been relying on their age pension, to have it either reduced or stopped all together and in some circumstances, having to pay back some money.

From 1 January 2023, it is proposed that a two-year asset test exemption will be available for home sale proceeds that are going to be used to buy, build, rebuild, repair or renovate a new principal home. Currently, the proceeds from a home sale that are earmarked to buy, build, rebuild, repair or renovate a new principal home are only exempt from the asset test for 12 months.

Only the amount of sale proceeds that will be used for the new home are exempt. For example, if your home is sold for $1 million and $800,000 of this will be used for the new home, the amount exempt under the asset test is limited to $800,000. The impact of home sale proceeds during the exemption period will also reduce under the income test. Sale proceeds are often deemed to earn an income at the higher 2.25% rate. Under this measure, the exempt amount will have the lower deeming rate applied (currently 0.25% frozen until 30 June 2024).

This measure will be a great relief for all retirees who are currently receiving the age pension. It will mean that they will have plenty of time to move into their new principal place of residence and not have those funds deemed.

AGED CARE

The Government is committing $2.5 billion over the next four years to help fund more care for older Australians and to increase nursing numbers in care facilities. The package includes:

• Mandating that facilities have a registered nurse on site 24 hours per day from 1 July 2023

• Increasing average care minutes per resident to 215 minutes per day from 1 October 2024

• Better food options which are fresh, healthy, and safe

• Strengthening regulation of aged care providers

• Capping administration and management fees charged by providers in the Home Care Packages Program

Cost of medication to decrease

From 1 January 2023, the Government will decrease the general patient co-payment for treatments on the Pharmaceutical Benefits Scheme from $42.50 to $30.00. This provides a $12.50 reduction per script for those paying the general rate.

Reduced impact of employment income on pensioners

Currently, the Work Bonus system allows age and veterans pensioners (both employees and the self-employed) to earn $7,800 per year of employment income with no impact on their pension payments under the income test. The Government has proposed to add a one-off credit of $4,000 to their Work Bonus income bank effectively increasing the amount of exempt employment income that can be generated in this financial year from $7,800 to $11,800.

The additional $4,000 income credit will be available until 30 June 2023. Other measures supporting working pensioners include a proposal to allow employment income to exceed the income limits for up to two years without a need to re-submit a pension claim and the Pensioner Concession Card will also be retained for a period of two years where the pensioner has a nil rate of pension due to employment income.

Commonwealth Senior Health Card income thresholds increase

The Government will increase the income thresholds for eligibility to the Commonwealth Seniors Health Card to:

• $90,000 per year for singles (up from $61,284) and

• $144,000 combined per year for couples (up from $98,054)

Warren Strybosch

Help the local community know you exist and what sets you a part compared to other aged care facilities, Financial Planners and other providers in the local area.

We have developed Find Aged Care Services (www.findagedcare.services) so you can promote your facilities and services to the general public. You can also place any job vacancies on our website that is available in your facilities.

For more information, please contact us at 1300 88 38 30 or email info@findagedcare.services

Investment Options In Retirement Explained

Getting the balance right between a safe spending rate and having enough income to enjoy retirement takes some careful planning. Investing for a reasonable return is one approach to helping your savings go the distance.

Risk vesus return

RETIREMENT & AGED CARE

risk, and generally provide you with more potential to grow your investment over time.

risk, and generally provide you with more potential to grow your investment over time. Here are some of the assets in each category that you might come across when exploring your investment options:

Here are some of the assets in each category that you might come across when exploring your

Defensive assets

payments for either a fixed period or for the rest of your life depending on the type of annuity you choose.

As with term deposits, your payment rate will remain fixed. So whilst you won’t be affected by share market falls, you also won’t benefit from higher returns when share markets perform strongly.

There’s a rule of thumb when it comes to investment risk. Generally speaking, the higher the expected return, the higher the risk involved. But taking on investments with the least possible risk can make it difficult to earn investment returns that keep up with inflation and any rises in living costs.

Defensive assets include investments like cash, term deposits, fixed interest securities, and annuities.

As with term deposits, your payment rate will remain fixed. So whilst you won’t be affected by share market falls, you also won’t benefit from higher returns when share markets perform strongly.

Growth assets

Growth assets include investments like property, shares and equities.

On the other hand, taking on too much risk could lead to steep falls in the value of your investments. This can have an even bigger impact when you’re retired, because you can’t expect to replace these losses from your salary or other types of income. Plus, you’re relying on your ‘nest egg’ to provide at least some of your income. When you lose a portion of those savings to risky investments, you have less to spend for the rest of retirement and less to earn returns on over the long term.

Cash is considered the safest form your money can take but it typically generates the lowest returns. However, it can be good to have some cash in a bank account because of the safety it provides and because you can access it right away when you need it.

Term deposits are held for a set period of time with a bank, building society or credit union. The rate of return is fixed, and you can be certain of your income, but you should be prepared to have your capital locked away for the full term. Whilst term deposits offer this security, there is a tradeoff. When markets perform strongly, your rate of return will remain fixed and you won’t benefit from higher returns.

Growth assets include investments like property, shares and equities.

Understanding the investments available to you, and their risks, will be crucial to looking forward with confidence in your retirement.

Term deposits are held for a set period of time with a bank, building society or credit union. The rate of return is fixed, and you can be certain of your income, but you should be prepared to have your capital locked away for the full term. Whilst term deposits offer this security, there is a trade-off. When markets perform strongly, your rate of return will remain fixed and you won’t benefit from higher returns.

What is an asset class?

An asset class is a group of investments with similar characteristics and laws. They’re typically grouped into two broad categories, defensive and growth. Defensive assets offer less opportunity for growth, and generally provide you with income stability and security for your original investment and income. Growth assets carry more

An asset class is a group of investments with similar characteristics and laws. They’re typically grouped into two broad categories, defensive and growth. Defensive assets offer less opportunity growth, and generally provide you with income stability and security for your original investment and income. Growth assets carry more

Fixed interest securities, such as bonds, involve you usually loaning money to a company or entity. You receive regular interest payments and can expect to get back the original sum invested at the end of the term, known as the ‘maturity’. The underlying value of the fixed interest security can change with interest rate movements.

Annuities can also be viewed as a type of fixed interest investment. You invest a lump sum with an annuity provider and receive regular

Property can provide you with rental income and potential for capital gains. In Australia property prices have generally performed well over the long term. However, property prices are notoriously difficult to predict due to the number of variables that impact them. Investing in shares means buying a share of ownership in a company, usually on a stock exchange. The value of the shares are generally linked to a company’s value and as a shareholder, you can be paid a share of profits as a dividend. Shares are generally considered to be a higher risk asset class as their value tends to be more volatile. You can control the amount of risk you take on by investing in share portfolios that invest in companies that have delivered consistent returns over the long term.

Investment strategies for retirement

Everyone has different investment goals. However, a common objective for many people investing for their retirement is striking a balance between maximising available cash flow and protecting the remaining savings. Your risk appetite will determine which investment strategy is right for

you, and according to the Government website MoneySmart1 may fall into one of the following four types:

you, and according to the Government website MoneySmart may fall into one of the following four types:

1. Cash: Invests 100% in deposits with Australian deposit-taking institutions or in a ‘capital guaranteed’ life insurance policy. This option aims to guarantee your capital and accumulated earnings cannot be reduced by losses on investments.

chance of having a bad year than in the balanced or growth options below.

term. There is less chance of having a bad year than in the balanced or growth options below

2. Conservative: Invests around 30% in shares and property with the majority in fixed interest and cash. Aims to reduce the risk of loss and therefore accepts a lower return over the long term. There is less

2. Conservative: Invests around 30% in shares and property with the majority in fixed interest and cash. Aims to reduce the risk of loss and therefore accepts a lower return over the long.

3. Balanced: Invests around 70% in shares or property, and the rest in fixed interest and cash. Aims for reasonable returns, but less than growth funds to reduce risk of losses in bad years. Those losses usually occur less frequently than in the growth option. You may also be able to invest in a ‘moderate’ option with around 50% in shares and property.

4. Balanced: Invests around 70% in shares or property, and the rest in fixed interest and cash. Aims for reasonable returns, but less than growth funds to reduce risk of losses in bad years. Those losses usually occur less frequently than in the growth option. You may also be able to invest in a ‘moderate’ option with around 50% in shares and property.

4. Growth: Invests around 85% in shares or property. Aims for higher average returns over the long term. This also

5. Growth: Invests around 85% in shares or property. Aims for higher average returns over the long term.

This also means higher losses in bad years compared to investing in other low risk options. You may also be able to invest in a 'high growth' option with 100% in shares and property.

means higher losses in bad years than those you would experience with lower risk options. You may also be able to invest in a ‘high growth’ option with 100% in shares and property.

The importance of diversification Diversification is a golden rule of investing. Spreading investments across different asset classes can strike a balance between security (defensive assets), and higher investment returns (growth assets). This can reduce your overall investment risk and the impact of significant market downturns, or poor returns from a particular business or sector.

As a transition into retirement is made, there needs to be a much bigger focus on income stability and wealth protection rather than wealth accumulation.

Monster Raffle raises $20,000 for Manningham

This year, Manningham residents have raised more than $20,000 for local schools, clubs and community groups with the support of the Manningham Monster Community Raffle.

Manningham Mayor, Councillor Carli Lange, acknowledged the community effort, and the key role the community plays in fundraising.

“Thank you to our amazing community for your generous support! Because of you, $15,000 will go directly to the groups who participated and $5,000 will support the Manningham Charitable Fund. Your contributions make a big difference,” Cr Lange said.

For every ticket sold for $2.00, groups receive $1.50 and the remaining 50 cents is donated to the Manningham Community Fund.

With a prize pool of $10,000 including five $1,000 Coles/Myer gift vouchers, and one $5,000 Coles/Myer gift voucher, the Monster Raffle prize draw was held on Wednesday 17 July.

Manningham residents, Alex and Adeline, were the lucky winners of a $1,000 Coles/ Myer voucher.

The couple purchased tickets supporting both Milgate Primary School and 1st Templestowe Scout Group.

“We often participate in fundraising and buy tickets not thinking we are going to win, but so the money can go a good cause.” Alex said.

“My son attends 1st Templestowe Scout Group, and the leaders at the club always work so hard to give the kids a good experience, and Milgate Primary has also been a huge part of our lives

Manningham’s Community Infrastructure Plan 2023 – 2040 identified a shortterm priority to develop an Early Years Infrastructure Plan to support the recent changes to the kindergarten reform and guide the future provision of investment into Early Years Infrastructure.

with our two children going to school there, receiving such a quality education. “We’re incredibly thankful for this win!” Alex said.

The Monster Community Raffle is held annually and will open again in April 2025.

“For 19 years, our raffle has been a cornerstone of community spirit. Together, we’ve made a significant impact, and we look forward to many more years of making a difference,” Cr Lange said.

“We are deeply grateful to our raffle partner, the Templestowe Bowling Club, whose support has been key to its success.”

The Manningham Community Fund supports community initiatives including homelessness and affordable housing, education and employment, diversity, inclusion, sustainability, and wellbeing programs throughout Manningham.

A full list of raffle winners is available at manningham.vic.gov.au/monstercommunity-raffle

Early Years Infrastructure Plan Manningham

Early Years facilities are used in the provision of education, care, and support services to children from birth to six years of age and their families. These services include Kindergarten, Long Day Care, Maternal and Child Health Services and Toy Libraries.

The Early Years Infrastructure Plan will provide a strategic framework to ensure that the children of Manningham Council have greater access to contemporary early years facilities, optimising developmental and learning outcomes.

Manningham Council celebrates the 2024 Manningham Civic Awards winners Council News

Manningham Council has proudly honoured the exceptional individuals and organisations making a meaningful difference in the community at the 2024 Civic Awards.

Held last week, family and friends of the nominees gathered at the Manningham Function Centre for the awards ceremony. The nominees were celebrated for their outstanding contributions, and winners were announced for their exceptional community service.

Brian Tyedin was awarded Manningham Citizen of the Year for his work with Rotary over the past 25 years.

“Being nominated is a reward in itself and to be recognised for what we are doing in the community,” Brian said.

“There are so many opportunities to volunteer in this community and so many people doing great things.

“I hope that by receiving this award, I can work with other organisations to achieve an even better outcome for Manningham and help others in the community,” Brian said.

This year there were two recipients of the Doreen Stoves Volunteer of the Year Award, Luke Bastian and Kate Gniel.

Luke was recognised for his outstanding commitment to the local Scouting community over the past two decades.

Park Orchards-based mum of three, Kate, was recognised for her remarkable work

in the community and with the Sharks Junior Football Club.

“Volunteering fills my heart and makes me feel content. My youngest son was diagnosed with leukemia a few years ago, and during that time, we were overwhelmed by the kindness of so many people,” Kate said.

“That’s when we discovered the true power of community and felt deeply connected. It inspired us to give back and help others in the same way we were helped.”

Meet the winners – 2024 Manningham Civic Awards

2024 Citizen of the Year – Brian Tyedin

Brian was awarded Citizen of the Year for his tireless support and service to the local community. He is a champion of the Rotary movement and has served Rotary and the Manningham community with distinction.

2024 Doreen Stoves Volunteer of the Year – Luke Bastian and Kate Gniel

Luke Bastian

Luke has played a crucial role in the Scouting community for over two decades. His remarkable contributions to Rotary and the Doncaster Baseball

Kate Gniel

Kate is an outstanding individual who consistently makes remarkable impact in the community through her volunteering efforts. Over the past five years, Kate has dedicated her time and energy to

enhancing and enriching the lives of others. In 2022 Kate became the first ever female president of the Sharks Junior Football Club and has focussed efforts on making the mental health of players and families first and foremost.

2024 Sports Volunteer of the Year –Anthony Milicia

Anthony dedicates himself to volunteering with Manningham Juventus Football Club as if it were a second job, setting a positive example and motivating others. His actions serve as a source of inspiration and consistently makes himself available to others.

Community Organisation of the Year –Rotary Club of Manningham City

The Rotary Club of Manningham City Inc. received its official charter on 1 July 2023, bringing together Rotary clubs and individuals with diverse talents who have contributed to Manningham for over 45 years. The Club’s dedication to serving the community spans across all demographics, capabilities and requirements and plays a crucial role in maintaining connections among people.

In addition to the 2024 winners, the following nominees were highly commended for their outstanding contributions:

Highly Commended, Sports Volunteer of the Year – Michael James

Michael’s dedication to enhancing the Sharks Football Club has positively impacted the lives of many. His strong belief in fostering sporting values and essential life skills underscores his passion for nurturing well-rounded individuals. Michael has introduced programs that have contributed to the overall growth and success of the club’s players.

Highly Commended, Community Organisation of the Year – Manningham Toy Library

Founded 39 years ago, the Manningham Toy Library has served as a vital resource for the Templestowe Lower community, positively impacting the lives of numerous families. The Library’s focus on inclusivity and accessibility sees it offer a wide selection of toys that address different needs and developmental phases, highlighting its commitment to supporting the entire community.

To find out more, visit manningham.vic. gov.au/manningham-civic-awards.

Design underway for Aquarena Outdoor redevelopment

An exciting new water play area and improved café will be part of a major redevelopment of the outdoor area at Aquarena Aquatic and Leisure Centre.

The project’s detailed design is now underway, following Council’s endorsement of the Aquarena Outdoor Masterplan last August.

Manningham Mayor, Councillor Carli Lange, said the community is eagerly awaiting the redevelopment, which will bring Aquarena’s outdoor area up to the centre’s modern, state-of-the-art indoor areas.

“Around 2,500 people visit Aquarena each day, and we love welcoming the regular swimmers, local families, swim clubs, and community and school groups. The centre is highly valued by the Manningham community and visitors alike,” Cr Lange said.

“This redevelopment will ensure the outdoor space continues to meet the diverse and evolving needs of the community for generations to come.”

Manningham Council has appointed Co.Op Studios as the architect to design the new space, and bring the Aquarena Outdoor Masterplan vision to life.

“The design process has been informed by the Aquarena Outdoor Masterplan, which involved extensive consultation with community users and industry experts, to guide the redevelopment of the outdoor spaces,” Cr Lange said.

“I want to thank everyone who shared their passion and interest in the future of the outdoor space. More than 800 people provided feedback to inform the development of the Masterplan. We’re excited to be delivering what the community asked for, and more”, she added.

Feedback from the community and stakeholders emphasised the need for more seating, shade, change rooms, a fun water play area, better spaces for schools and clubs, and a sustainable design to reduce environmental impact.

“An enhanced café will now serve both indoor and outdoor areas. The new outdoor change rooms will be only metres from the outdoor pool, and the outdoor pool will now have ramp access and a swim wall to swap between 50 metre and 25 metre lanes,” the Mayor said.

Other enhancements include state-of-the-art landscaping and the electrification of outdoor pool equipment, marking another significant step toward achieving Manningham’s emissions targets.

“Aquarena is currently our largest gas user. Making the switch from gas to energy efficient heat pumps, we can heat the outdoor area in an environmentally sustainable way,” the Mayor added.

The replacement of the centre’s 50-metre outdoor pool will take place at the same time as the redevelopment works.

“Aquarena’s outdoor area has a rich history of over 50 years and has been a source of community pride for generations. For many in our community, this is their backyard – we’re embracing the theme of your backyard to create an inviting space where our community can get active, play, socialise, host events and relax,” Cr Lange said.

“We’re excited to start sharing the draft designs and offering on site consultation opportunities in the coming weeks. We’ll also be connecting with various user groups to keep them informed as the project progresses,” she added.

The redevelopment works are planned to begin in late 2025, with project completion expected in late 2027.

Project updates will be available on yoursay.manningham.vic.gov. au/aquarena-masterplan, and the community can subscribe to receive updates directly to their inbox.

Have your say on upgrades for Burgundy Reserve

Manningham Council is planning an upgrade at Burgundy Reserve in Doncaster and is seeking community feedback until 12 August.

The proposal includes, an upgraded playspace and shelter, a new public toilet as well as a series of improvements to enhance the reserve for dogs and their owners.

Manningham Mayor, Councillor Carli Lange, said Burgundy Reserve is a popular spot for our local community. “We want to ensure Burgundy Reserve continues to be a space for families and local community members to enjoy and look forward to hearing your feedback on our proposed upgrade,” Cr Lange said.

The concept plan includes:

• a relocated and upgraded fenced playspace

• an upgraded shelter

• a new two cubicle public toilet

• new shared path to connect Cellar Way to Burgundy Drive new path lighting

• new chainmesh fencing along Burgundy Drive

• new seats around the oval

• a new drinking fountain with dog bowl

• path realignment and upgrade for more passive recreation opportunities

• additional landscaping and trees across the site.

The playspace and shelter upgrade, as well as the new public toilet, are planned as part of Council’s capital works program, scheduled to be completed over the next two years.

“We know many residents use this wellloved space to spend time with their dogs and as part of the upgrade, we are proposing some dog-friendly improvements, including a new path, shelter and drinking fountain,” Cr Lange said.

The dog-friendly upgrades are supported by the Victorian Government’s New and Upgraded Dog Parks Program.

“I encourage everyone to find out more, view the concept plan and have your say on what’s proposed for Burgundy Reserve in Doncaster,” Cr Lange said. You can find out more and have your say by visiting yoursay.manningham.vic. gov.au/burgundy-reserve-upgrade Consultation closes on Monday 12 August 2024.

Have your say on dog friendly upgrades for Warrandyte Reserve

Manningham Council is seeking feedback on a proposed upgrade of the northern oval at Warrandyte Reserve to improve facilities for the community, as well as for dogs and their owners.

Manningham Mayor, Councillor Carli Lange, said Warrandyte Reserve is a hub for the local community in Warrandyte and popular with dog owners.

“Warrandyte Reserve is enjoyed by many local sports and recreation groups, residents, dogs and their owners.

We’re proposing some dog-friendly improvements within the reserve and want to hear your feedback on our concept plan by 12 August,” Cr Lange said.

The proposed upgrades include:

• improvements to the path network between both ovals;

• a new shelter at the northern oval with seating and storage facility built in;

• a new drinking fountain with dog tap and bowl;

• improved fencing to allow easier access into the ovals; and

• improved drainage and ground condition of the northern oval for better year-round use.

The proposed improvements at Warrandyte Reserve are supported by

the Victorian Government’s New and Upgraded Dog Parks Program.

To see what’s proposed, find out more and have your say, visit yoursay.

manningham.vic.gov.au/warrandytereserve-upgrade