Financial Planning BUILDING WEALTH THROUGH FOCUSING ON VALUE
Audi THE RISING STAR OF THE LUXURY MARKET
Tax Time DON’T WAIT TIL IT’S TOO LATE TO MEET Y YOUR ACCOUNTANT
Salt grill LUKE MANGAN EARNS ACCOLADES AT HILTON SURFERS PARADISE
Good Gearing
New London Town
MYTHS AND TRUTHS OF PROPERTY INVESTMENT
THE 2012 OLYMPIC CITY
Our
Olivia FROM TEEN SENSATION TO NATIONAL TREASURE
Win!
AUS $6.95 NZ $8.95 ISSN 1838-0514
3 NIGHTS AT SEA WORLD RESORT & WATER PARK.
imagine six • autumn - winter 2012
Imagine
PUBLISHERS DESK ISSN 1838-0514 Imagine Your Lifestyle Pty Ltd ABN 27 120 725 073 ACN 120 725 073 Publisher Nicholas Reid publisher@imagineyourlifestyle.com.au nick@reidmedia.com.au Group Executive Editor Jeni Bone editor@imagineyourlifestyle.com.au National Advertising Director Virginia Shirley virginia@imagineyourlifestyle.com.au Art Direction Reid Media info@reidmedia.com.au www.reidmedia.com.au
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Printed in Australia by Caxton Web www.caxtonweb.com.au
elcome to the Autumn/Winter issue of Imagine – with the perennially beautiful Olivia Newton-John gracing our cover and feature story.
What a career (over five decades) in music and films, only surpassed by her contribution to cancer research, raising awareness and millions in much-needed funding to construct the world’s first Cancer & Wellness Centre in Melbourne, dedicated to the holistic treatment of Cancer. As one in three people will be struck with the disease, all of us in some way will benefit from this ground-breaking facility and its approach to every aspect of health. Olivia has put her name to this facility and is using her profile to spread the word globally. She truly deserves the recognition of “National Living Treasure”. Also this issue, we cover the pressing topics before Tax Time – an annual occurrence that comes around all too quickly, and something we often leave til the last moment. We share the tips and advice for If you get up one more accountant’s making it through smoothly, as time than you fall you well as some helpful hints and compelling reasons to be organised! will make it through. Chinese Proverb
So, a smattering of Events, Cuisine, Health, Travel, Motoring and plenty of real life stories – that is what you have said you want to read in your magazine. Thanks for your feedback. Our job is to prepare a satisfying mix of informative and inspiring content, so with that as our brief, you will find a more compact and concise version of what you have come to love about Imagine. Keep the comments coming as we appreciated each and every observation. Enjoy Imagine! Nicholas Reid www.imagineyourlifestyle.com.au
Join us for all the latest news.
@imagine_mag
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imagineyourlifestyle
A huge thank you to Olivia Newton-John for taking the time to talk with us.
Distributed by Future Sources www.futuresources.com.au Imagine Six Team:
Carol Yip
Andrew Winter
Ken Swan
Sam Tannous
Jon Thomson
Geoff Edwards
Lauren Brittain
Lexie Jeuniewic
Phone +61 (0)2 9375 2143 www.reidmedia.com.au
Sydney Office Level 29, Chifley Tower 2 Chifley Square NSW 2000
Gold Coast Office 36 Francis Street Mermaid Beach QLD 4218
Disclaimer. No part of this publication may be reproduced or copied in any form by any means without prior written permission from the Publisher. Opinions expressed in the magazine are those of the authors and not necessarily those of Imagine Your Lifestyle Pty Ltd. Every issue of Imagine Your Lifestyle is prepared with careful attention to accuracy. Please use this magazine as general guide. It is important to consult a professional before making decisions relating to your own financial investment. Imagine Your Lifestyle expresses the views of the authors and is based on the information available at the time of publication and it is not to be taken as advice. All editorial material is accepted in good faith. We welcome editorial and photographic contributions. Imagine Six | Autumn - Winter 2012
Twins
TM
Pink and Blue Diamonds By Robert Musson
www.musson.com.au | Telephone 61 2 9412 0888 | | Level One Chatswood Chase Sydney |
DIAMOND GUILD AUSTRALIA FOUNDING MEMBER
Protect your investment. Musson engagement rings now come with full international all risk insurance. Ask instore for terms and conditions.
Imagine
CONTENTS
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Contents
Imagine Six • Autumn - Winter 2012
08 Your Say
readers share their opinions
10 Events
what’s on around the country and specially for kids!
12 Foreword
the best books to inspire and enthral
22 Tax Time
this year’s hot tips, insight and advice
26 Carol Yip
What Wealthy Women Want!
30 Insurance
Peace of mind for the “Just in Case” times of life
34 Collaborative Practice
the way to split with dignity, peace of mind and assets for those who need them most
38 I nvesting and adding value 42 Education Teaching what to do with inherited wealth
13 Silverscreen
films for every taste and inclination
14 Galleria
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inspect the gadgets
16 Cover Story
Olivia Newton-John has spent her lifetime winning hearts, minds, body, spirit, soul and now our good health
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Imagine Six | Autumn - Winter 2012
CONTENTS
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Imagine
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46 Property
no such thing as “get rich quick�!
50 Cuisine
Market News and Salt grill at Hilton Surfers Paradise
54 Recipe
Kingfish sashimi, persian feta, ginger and shallot
56 Health
Geoff Edwards warns that tech overload could be making us delete our lives
60 Beauty
winter-proof your skin
61 Body Shop
Beauty with Heart
62 International Travel London Calling
66 Local Travel
Sublime Sofitel
67 WIN
a trip to Sea World Resort & Water Park + VIP passes
68 Sport Profile
David Pocock, sporting star and philanthropist
70 Audi
is the meteoric marque
74 Shelley Craft
shares what she learnt from her first job
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Imagine
Your say
Letter of the Issue...
your say
ments to: Email your letters, questions or com u letters@ imagineyourlifestyle.com.a
Surprise... What a surprise to find your magazine in our mail box. We enjoyed it. Very much so. Imagine if it turns up again? How happy we will be.... C. Riley Thank you for your letter and kind words. Please thank your Accountant for your subscription! Hope you continue to enjoy Imagine.
Food for thought. Having read your magazine for the first time, may I congratulate you on your informative articles. I thought I could give our ideas of teaching children to handle money in a sensible way. When our daughters were small, it was a non-negotiable rule that half of any money received from gifts or pocket money had to be saved. We opened a bank account for them and would accompany them to the bank to make the deposit. In 1979, our elder daughter realised she had saved $100 and so we made an appointment with the bank manager to discuss the best way of investing it. Half the money from part time jobs in their teenage years was also saved. Fast forward 32 years. Both girls, now married, own their homes and cars, have share portfolios, have travelled extensively overseas and are currently buying an investment property each. They have no credit card debt. It was easy to organise and they have never had the experience of spending every cent of their money. J. Schelle
Can’t put it down. My husband has just received a copy of your magazine. I can’t put the book down! So much to read, interesting and informative. I was interested in one of “your say” people who wrote in, she mentioned slimming safflower? I imagine it would have been in a previous copy, I would like to read more about this. G. Dinami We will continue to bring you insights into health and lifestyle each issue. We will have Imagine Four featuring Ita Buttrose sent out to you in the mail. The information you request on Slimming Safflower can be read on Page 91.
Don’t tell. I visited a friend recently and waiting for him to get his things ready for our golf game, grabbed the first magazine lying handy and had a flick. I couldn’t put it down - and didn’t! I took it with me and spent the afternoon and next day reading the well researched and written pieces - all of them relevant to my and my own family. I cut out a few articles and faxed/emailed them through to my kids, now grown up and spread around the country and in NZ. Obviously, I can’t give the magazine back to my mate. I am planning to organise another golf game soon, so perhaps I will pick up the next issue. Don’t tell him! D. Chalmers If you’re interested in having the magazine sent to you, please visit www.imagineyourlifestyle.com.au for subscription details.
Thanks for your feedback and great tips! Congratulations you are our ‘Letter of the Issue’ winner. Enjoy the Li’Tya Sea Dreaming Pack valued at $185.
Li’Tya Sea Dreaming Pack For the Letter of the Issue, we have a heavenly Li’Tya Sea Dreaming pack. It contains Pearl & Peppermint Skin Refining Cream 125ml, Mother of Pearl Body Polish 100ml, Ocean Dreaming Massage Oil 200ml and sublime Ocean Dreaming CD. www.litya.com
Valued at $185
Our best letter for issue 6 will win a copy of The Elephant’s Tale, an amazing account of the adventure of Mike and Jo Hannan who take off on an epic tour of Europe and discover that it’s never too late to live the dream. Their transport is an 1150cc BMW motorbike called ‘Elephant’. Journeying through sunshine and rain, over good roads and bad, they explore France, Spain, North Africa, Russia and other former Soviet countries, Mongolia and Korea, meeting all kinds of people along the way and coming to understand the deep universal significance of their journey. Published by New Holland and available from May.
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Imagine Six | Autumn - Winter 2012
Which pays better, cash or shares? On the question of cash versus shares, many people think cash is the better option. And it’s fair to say that a cash investment will generally maintain its value over time — while steadily earning interest. If you had invested $100,000 in cash on 1 January, 1990 and reinvested the interest, by the end of 2010 it could have grown to around $376,500. If you had invested the same amount in a diverse range of Australian shares and reinvested the dividends — even with varying ups and downs, including the global financial crisis — by the end of 2010 your investment could have reached over $679,000. That’s quite a difference. So it pays to consider shares in your long term investment plans. Speak to your financial adviser about the benefits of having shares work alongside your other investments.
$679,000 SharES
$376,500 caSh
1990 $100,000 INVESTED
2010
Things you should know: Accumulated returns based on $100,000 invested on 1 January 1990. Shares index is the S&PASX 300 Accumulation Index. Cash returns based on the UBS Bank Bill index. Calculations do not take into account fees or taxes. The value of a cash investment over time will be subject to inflation. You should consider your personal objectives, financial situation and needs before acting on this information. Past returns are no guarantee of future performance.
Imagine
EVENTS
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events guide 01. Archibald Prize Exhibition NSW, 31 March – 3 June Australia’s most extraordinary art event. The Archibald, Wynne and Sulman Prizes is an annual exhibition eagerly anticipated by artists and audiences alike. It never ceases to create lively debate amongst the arts community and wider public. The Archibald Prize is one of Australia’s oldest and most prestigious art prizes. It’s awarded to the best portrait painting, preferentially of some man or woman distinguished in art, letters, science or politics.
02. Canberra Love Vintage Clothing Sale & Show ACT, 27-29 April Australia’s best dealers in vintage, antique and retro textiles, jewellery, homewares and collectables, are all set to come together under one roof. Specialist
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traders will be selling wonderful antique tablecloths, hand-made aprons, vintage sewing patterns and magazines, antique prints, jewelled ‘50s compacts and lipstick cases, rare Bakelite brooches, the prettiest parasols, quirky kitchenalia, vintage posters and prints, and so much more!
Noosa Century Cycle, Noosa Half Marathon, Mizuno Noosa 10km Run and the Noosa News 5km run/walk. The design of the Festival, with its mix of events caters for competitors of all abilities and ages, and provides the ‘ultimate’ weekend winter escape.
03. V8 Supercars
05. Ningaloo Whaleshark Festival
WA, 4-6 May Don’t miss out on seeing your favourite men of motorsport take to the track again for some fast-paced, fuel-injected action. With all the thrills and excitement of 2011, the upcoming Trading Post Perth Challenge is set to deliver a gripping racing showdown in 2012.
04. Noosa Winter Festival QLD, 5-6 May The 3rd annual Noosa Winter Festival includes a variety of events for participants including the Noosa Blue Water Swim, Noosa Paddle, Subaru
WA, 25-27 May For festival and whale shark lovers, the good news is that the Whaleshark Festival has returned to Exmouth and is scheduled to welcome back the gentle giants to the local waters. The festival will offer entertainment displays, workshops, boating and car shows, celebrities, exhibits, photographic and art competitions showcasing the magnificent whale sharks, also some extreme sports displays, wakeboarding, kiteboarding and freestyle motocross riders.
Imagine Six | Autumn - Winter 2012
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Kids Events Elmo’s World Tour Until 6 July
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06. Brisbane Racing Carnival QLD, May and June The Brisbane Winter Racing Carnival is held in May and June annually by the Brisbane Racing Club with major feature races taking place at both Doomben and Eagle Farm race tracks. The major Group One feature races in Brisbane are the Doomben 10,000 which takes place at Doomben racecourse in May and the $1Million Stradbroke Handicap held at Eagle Farm in June. Eagle Farm is also home to the Brisbane Cup in June.
07. Truffle Kerfuffle: Southern Forests food Festival WA, 16 June WA food and wine connoisseurs are hotly anticipating the return of the ultimate epicurean indulgence the Truffle Kerfuffle (TK), Southern Forests premier food and wine festival celebrating the annual truffle harvest, happening Saturday the 16th of June 2012, in the
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heart of Australian truffle country, Manjimup. In its 2nd year, the 2012 Truffle Kerfuffle gives foodies the chance to indulge in the expensive delicacy and taste first-hand what all the fuss is about. To match the gourmet star of the show, the TK will host a truly impressive line up of West Australian epicurean talent headlined by Anna Gare from TV’s cooking phenomenon Master Chef and award winning Chef David Coomer of iconic Perth restaurants Star Anise and Pata Negra, and soon Xarcuteria.
08. Melbourne Jazz Festival VIC, 1-10 June Like the great cities of New York, London and Paris that are remembered for their music, architecture and culture, Melbourne has also become an international destination, particularly for jazz musicians. Melbourne’s rich pool of home grown talent, more than ever, is attracting collaborative peers from all over the world.
Come along with Elmo and the Sesame Street gang as they circle the globe in this all-singing, all-dancing stage show touring Australia in 2012. Elmo and his friends have fun learning how people sing and dance and say hello in different places, but things don’t go to plan when Cookie Monster eats a letter of the alphabet. Can Abby Cadabby find the right spell to help? Along the way, audiences will also delight in hearing a sensational tale from The Count and will help some back-packing rubber-duckies find a place to stay with Bert and Ernie. Featuring a bunch of classical Sesame Street songs alongside catchy new tunes, Sesame Street presents Elmo’s World Tour is sure to delight Sesame Street fans of all ages.
Great Moscow Circus 2012-2015 Tour QLD, 29 March – 14 April Michael Edgley’s all New Great Moscow Circus 2012-2015 Tour showcasing the Human Cannonball and featuring renowned Russian performers along with special International Guest Artists from around the World. The totally ALL NEW 2012 show emphasises the brilliance of Russian Circus, with an explosive array of acts like never before, featuring extraordinary skills and ability. With 20 Superb acts from Russia and around the World the show boasts a program to thrill and amuse – two hours of “edge of the seat” entertainment! 11
Imagine
FOREWORD
$29.99
$34.95 $34.95
$45.00
foreword New Age Nanas Being a grandmother in the 21st Century Authors and nanas, Doreen Rosenthal and Susan Moore surveyed over 1,000 Australian women on what it means to be a grandmother. The result is an engaging book that explores the rich and diverse views of these women, ranging from a surprisingly young 34-year-old to a 92-year-old, each with their own specific characteristics, strengths and foibles, to discover the role of the new breed of 21st century grandmas. Covering topics such as feelings towards grandchildren, managing changing relationships as grandchildren get older, negotiating conflicts and special issues faced by grandmothers; New Age Nanas is a must-read guide on how to make the most of this wonderful and rewarding stage of life. Big Sky Publishing. 12
Dirty Money
Matthew Benns, author of the best-selling The Men Who Killed Qantas is back, with an expose on the very topical mining industry in Dirty Money explores a range of topics, including the harmful effects mines have had on their surrounding environment and people. And the biggest question remains: what will we do when it all simply runs out? At the current rate of exploration, there are only 30 years of gold left in the ground, 10 years worth of diamonds, 85 years of copper, 30 years of silver, 35 years of zinc and 70 years of iron. Random House.
Gang of One
Scotsman Gary Mulgrew is known in Britain as one of the ‘NatWest Three’. Gary and his co-accused were regarded in the US as the men who brought down Enron. They were extradited to Texas
and sentenced to three years in one of the USA’s toughest jails. They eventually agreed to a plea-bargain to avoid standing trial with the probability of a 35 year sentence. Two were sent to ‘soft’ prisons, but Gary was sentenced to three years in to a notorious, gang-invested prison in Texas. This is Gary’s story, a riveting, page turning true tale of his experiences both with the US legal system and his horrific time in jail. The author is giving 60% of his net royalties to charity. Hachette Australia.
Classic Preserves
Everything old is new again! Preserving is a time-honoured tradition. Borne from necessity, it dates back to the days when seasonal fruit and vegetables were preserved in the late summer for the approaching winter months. The latest title in the beautifully-designed and popular AWW Classic series, Classic Preserves is a comprehensive collection of jams, marmalades, jellies, chutneys, pickles, relishes, sauces and cordials. ACP Books.
Imagine Six | Autumn - Winter 2012
SILVER SCREEN
Imagine
Release Date 24 May
Men in Black 3
Snow White and the Huntsman
In Men in Black 3, Agents J (Will Smith) and K (Tommy Lee Jones) are back... in time. J has seen some inexplicable things in his 15 years with the Men in Black, but nothing, not even aliens, perplexes him as much as his wry, reticent partner. But when K’s life and the fate of the planet are put at stake, Agent J will have to travel back in time to put things right. J discovers that there are secrets to the universe that K never told him – secrets that will reveal themselves as he teams up with the young Agent K (Josh Brolin) to save his partner, the agency, and the future of humankind. Save the world at www.MenInBlack3.com.au
This is Snow White, but not as you know it! In the epic action-adventure Snow White and the Huntsman, Kristen Stewart (Twilight) plays the only person in the land fairer than the evil queen (Oscar winner Charlize Theron) who is out to destroy her. But what the wicked ruler never imagined is that the young woman threatening her reign has been training in the art of war with a huntsman (Chris Hemsworth, Thor) who was dispatched to kill her. Be beguiled at www.snowwhiteandthehuntsmanmovie.com.au
Release Date 21 June
Release Date April 11
Battleship Peter Berg (Hancock) produces and directs Battleship, an epic actionadventure that unfolds across the seas, in the skies and over land as our planet fights for survival against a superior force. Based on Hasbro’s classic naval combat game, Battleship stars Taylor Kitsch as Hopper, a Naval officer assigned to the USS John Paul Jones; Brooklyn Decker as Sam, a physical therapist and Hopper’s fiancée; Alexander Skarsgård as Hopper’s older brother, Commanding Officer Stone of the USS Samson; Rihanna as Lt. Raikes, Hopper’s crewmate and a weapons specialist on the USS John Paul Jones, and international superstar Liam Neeson as Hopper and Stone’s superior (and Sam’s father), Admiral Shane. Sink or swim at www.battleshipmovie.com
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Imagine
Galleria
Lexon Safe Radio The Lexon Safe Radio made from bamboo is the perfect modern and eco-friendly accessory. Bamboo is an ecologically renewable resource, with a maturity cycle of 3-4 years. This beautifully simple design incorporates AM/FM radio with a dynamo powered by crank and a MP3 amplifier. www.lexon-design.com
$499
Canon 1100D The Canon 1100D is the perfect camera for those looking to enter the world of DSLR photography. A simple design makes the Canon 1100D incredibly user friendly and intuitive to use with some excellent upgrades from the previous model. These include the addition of High Definition video recording, the latest Canon Digic Image Processor for excellent image quality and a new 9 point autofocus system. www.canon.com.au
tyle.com www.imagineyourlifes
$179
.au
galleria Techno File
$1,490
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Beosound 8 If you keep your music on an iPad, iPhone, iPod or computer, you are all set to discover the iconic style and breathtaking sound quality that has made Bang & Olufsen one of the most sought-after names in home audio. Move BeoSound 8 from room to room or hang it on a wall. All you need is a power outlet, your music player of choice, and a desire for real sound quality. Secure your iPad, iPhone, or iPod firmly in the adjustable holder and prepare for a surprise. The sleek speaker design gives little clue about the fidelity and depth of the sound that is about to come your way. www.bang-olufsen.com
Imagine Six | Autumn - Winter 2012
Galleria
Imagine
$13,950 Bang & Olufsen Beovision 10 The Bang & Olufson Beovision 10 is the slimmest flat screen TV from B&O ever, designed to hang on your wall with your other artwork. It’s a 46-inch LCD with highend, built-in speakers that will be more of a statement than the average big-screen LCD. The Beovision 10 boasts brushed aluminium frame, 200Hz refresh rate, and LED backlight, as well as the all-important sharper images. www.bang-olufsen.com
$95
Jaybird SB2 Bluetooth Headphones The Jaybird SB2 Sportsband Bluetooth Headphones feature Bluetooth connectivity and apt-X technology for pristine CD quality audio rivalling the very best of wired headphones. The new SB2 Sportsband comes with apt-X on board, which cleans up, adds depth, bass and treble to your Bluetooth music with technical specifications matching that of CD quality output. www.jaybirdgear.com
$150
Watch this space! Sony’s new internet-linked wristwatch powered by Google-backed Android software is known as “SmartWatch” and is coming to a wrist near you. It connects wirelessly to a wearer’s Android smartphone using Bluetooth technology. This piece of covetable tech is available online and at Sony stores. www.sony.com.au
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Imagine
Olivia
our olivia There’s an Olivia for every generation. Mention her name and some recall the “fresh faced teen” who took to local Melbourne stages in the early 60s as “Lovely Livvie”. Her stage today is global and she is applying her voice and profile to combating cancer with research and treatment that combine cutting edge medicine with nurturing for the spirit, mind and soul.
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n those early days, Olivia was a regular on the Go Show, hosted by her first love, the late Ian Turpie. But it was entering and winning the talent show, Sing, Sing, Sing hosted by Johnny O’Keefe, with a first prize of a trip to England, that was her springboard to a global music career. Her first solo album, If Not For You was released in 1971 and the title track was an international hit. Encouraged by singing great, Helen Reddy, Olivia moved from the UK to the US to test her vocals, and made impact with a series of country music hits, among them Let Me Be There in 1973, which reached the American Top 10 on the Pop, Country, and AC charts and earned her a Grammy for Best Country Female and an Academy of Country Music award for Most Promising Female Vocalist. Next was her incarnation as straight-laced then sexy Sandy alongside John Travolta in Grease in 1978 (successfully portraying a teenager at the ripe old age of 29 years old). This now iconic film was movie of the year in ’78 and
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has become its eternally popular collection of songs has earned the distinction of being the most successful movie soundtracks of all time. Grease has worked its magic on three generations and its perennial appeal propelled Olivia in to the stratosphere of A-list Hollywood. After Grease, a handful of films followed, including the much-maligned yet cult classic Xanadu, and several albums in the 1980s capitalising on her spandex-clad new image. Who doesn’t remember with some affection the downright steamy clip for Physical, which showed Olivia’s body talking very fluently! Olivia received her OBE from the Queen early in her career, in 1979, and has since gone on to receive various international awards for her significant contribution to environmental and animal rights campaigns. In 1981 she accepted her star on the Hollywood Walk of Fame, in 1990, she became a Goodwill Ambassador to the United Nations Environment Programme and there is a litany of awards and accolades for raising the profile of and much-needed funds for research in to breast cancer. Since surviving breast cancer herself in the 90s, Olivia has been an advocate for health awareness becoming involved
Imagine Six | Autumn - Winter 2012
Olivia
Imagine
Imagine Exclusive
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OLIVIA
Imagine Six | Autumn - Winter 2012
Imagine Exclusive with various charities, holistic healing, causes, cookbooks and fundraising efforts. She is co-owner and the epitome of the ethos of Gaia Retreat & Spa in the Byron Bay Hinterland, a favoured destination for the strung out and soul-seeking in need of the genuine restorative powers of this lush and inspiring region. Gaia, meaning ‘Spirit of Mother Earth’, is also the name she gave a deeply personal album released in 1994, compiled of songs she wrote that dealt with her cancer, chemo and poignant responses to the plight of nature. Opened since 12005, the retreat is perched on the highest peak of the Ballina shire, on the northern New South Wales coast. The concept is testament to her unique vision to impart well-being to all. As co-owner in the concept, Gregg Cave explained at the time, the discovery of the location for this idyllic retreat was a surreal as it was fortuitous. In 2003 Olivia’s mother Irene passed away at age 89. Olivia sought solace in Byron Bay, the haven of the health-craving. “We pondered the idea of making a base here and establishing some kind of health retreat, just sourcing a property we liked in the region and then making
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OLIVIA
the people an offer,” he recalled. “But there was this winding country road and we just stumbled upon a property which was absolutely perfect. It turned out to be an old resort – Bangalow Palms – one of the first health farms in the area, with a gorgeous rainforest, fragrant gardens and tranquil groves of palms. We were ecstatic! It really had good bones to work with. The concept just evolved from there.” Kukura House is the Samoan-inspired heart of the premises which acts as the main lodge, administration, guest reception, social centre and dining hall with its warm timber-ribbed interior, swathed in gem-coloured fabrics, sculptural lamps, comfy lounges, and a massive deck, known as Tevana, dappled with sunshine. Olivia was very hands on, said Gregg. “She had really precise ideas of how each place should look and feel – the mood it should convey. Olivia has never been caught up in the Hollywood hype. She has a special ability to be able to show people there’s a light within all of us. She understands humanity from her own experiences with loss, cancer and as a mother herself.” The Gaia experience, added Gregg, is entirely up to the individual. “Olivia
Imagine
calls it ‘barefoot meets Armani’ – luxurious, yet simple and unpretentious. It’s all about choice. We want it to be like your home away from home. Olivia and I sat down and asked ourselves: ‘how would we like to retreat when we relax on our own down time?’ Then we came up with the packages and activities for Gaia. When you get here, you tell us what you need, what you want to eat, participate in and experience. We have the experts on hand to tailor treatments, programs and even diet to suit.” It’s not just for vegans and the teetotal either. “We have all kinds of meat dishes and we serve wine. But like everything else, we ask people to engage in nothing to excess, out of respect for other people.” The retreat uses fresh organic local produce and employs about 50 people, winning accolades from tourism authorities, the Council and state government. At its official opening in March 2005, presided over by Sandra Nori, state Minister for Tourism, with Olivia’s friends, celebrities and media, Olivia was eager to impress upon those gathered that the retreat would be testament to her principles of environmental care.
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Key Features for the New Centre: Research An enhanced Clinical Research Centre with dedicated facilities for highly specialised new cancer therapies and collaborative research programs will be for the benefit of cancer patients world-wide. The centre will be home to the largest clinical research site of the international Ludwig Institute - to develop innovative cancer therapies.
Research in Action About the Olivia Newton-John Cancer & Wellness Centre.
T
he Olivia NewtonJohn Cancer & Wellness Centre will combine international cancer research and medical treatment, together with the best of wellness care. The Centre will be home to the largest clinical research site world-wide of the Ludwig Institute for Cancer Research. Patients, with any type of cancer, will have access to scientific discoveries from Ludwig’s global network of laboratories as well as dedicated support programs and complementary therapies. It’s the concept of wellness that will make all the difference to patients and their families when they come to the Olivia NewtonJohn Cancer & Wellness Centre. It will provide a supportive care environment to complement patients’ medical treatments. Wellness therapies will include guided relaxation, meditation, massage, music therapy, yoga, counselling, and an Information Resource Centre. The Centre will build on cancer care expertise that the Austin Hospital, in Heidelberg Victoria (Australia) has provided since 1882
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as part of Austin Health. It will bring together the best of cancer care, research and education and provide a significant resource; training a new generation of worldclass cancer experts. The Centre is currently under construction, with the first phase scheduled to open mid-2012, which will include the Wellness Centre. Olivia Newton-John was the natural choice as Patron. Since recovering from breast cancer in 1993, she has been committed to supporting new cancer cures. She has also been a strong advocate for total patient care, not just the cancer. Olivia is actively involved in supporting the fundraising appeal for the new cancer centre and launched the appeal in May 2003. Austin Health has a comprehensive range of cancer treatments available in Medical Oncology, Clinical Haematology, Radiation Oncology and Palliative Care. The Austin is also a leading centre for cancer surgery, especially for the most common cancers such as bowel cancer, prostate cancer and breast cancer, and has an extensive thoracic surgery unit for lung cancer.
Patient Care The centre will bring under one roof the comprehensive cancer services that are currently spread across two campuses at Austin Health. The new facility will include: • A Wellness Centre”, incorporating meditation, cancer support groups and relaxation techniques in a tranquil and beautiful environment. • Inpatient facilities for acute and palliative care patients. • Radiotherapy, surgical oncology, chemotherapy, biological therapies including immunotherapy, tumour targeting and radionuclide therapy, cell therapy, bone marrow and stem cell transplantation. • Patients will be able to enjoy continuity of care with the full range of services provided at the one comprehensive cancer centre. • A range of outpatient facilities such as clinics, day therapies and procedures, and rooms for treatment, counselling and special procedures. Education and Training The new centre will provide training and educational programs for medical specialists and researchers in conjunction with affiliated organisations, including the University of Melbourne, the Royal Australian College of Surgeons and the Cancer Council of Victoria. It will also include education and support groups for patients and their carers. $181 million has been raised to date, of which $16 million was raised through the community, foundations and individual donations. The Victorian Government committed $138.7 million and the Australian Federal Government committed $25 million towards the centre. The appeal’s current fundraising target is to raise a further $8 million through donations from the community. For information and to make a secure online donation visit
Imagine @ www.oliviaappeal.com
Imagine Six | Autumn - Winter 2012
OLIVIA
“I have loved this region for 25 years and I now share my piece of paradise with others. For me, Gaia provides a beautiful environment to restore my spirit and get back to normal. I have strong views on the environment and protecting our planet, so our aim at Gaia is to make the property as environmentally friendly as possible.” The commitment to wellbeing and holistic living is something Olivia lives as well as preaching. She earned her Order of Australia for “service to the entertainment industry as a singer and actor, and to the community through organisations supporting breast cancer treatment, education, training and research, and the environment” in 2006 and then in 2008, Newton-John signed on to use her profile to help raise funds for construction of the Olivia NewtonJohn Cancer and Wellness Centre in Melbourne with the aim of “turning hope in to better health for those with Cancer”. And the statistics say one in three of us will be touched by cancer and the rest of us, affected by the journeys of our loved ones.
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Getting her message to the media, Olivia led a three-week, 228 km. walk along the Great Wall of China, joined by various celebrities and cancer survivors throughout her trek. The walk symbolized the steps cancer patients must take on their road to recovery. There was a companion CD, A Celebration In Song, the following month released worldwide featuring new and previously recorded duets by Olivia Newton-John and friends, among them Jimmy Barnes, Barry Gibb, Delta Goodrem, Richard Marx, Cliff Richard and Keith Urban. The same year, she launched the www.liv.com website and teamed with fitness franchise Curves to distribute one million Liv-Aid breast self-examination aids for Breast Cancer Awareness Month. This year, the National Trust officially recognised with an award that states the thoroughly obvious: Olivia is a National Living Treasure of Australia.
Imagine @ www.oliviaappeal.com
www.gaiaretreat.com.au
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TAX TIME
tax time If you are planning to start a relationship with an accountant, don’t wait till June 30! Story Samantha Tannous
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ou don’t need to be a property mogul or own a share portfolio to benefit from a relationship with an accountant. Even the average family can find that an accountant can save a lot of money, hassle and potential fines if you get it wrong. Frequent changes to tax laws and more complexity around certain deductions can be minefields best navigated by a professional. They can avoid the pitfalls but more importantly for the client, they can achieve the best financial outcomes. The education tax refund, for primary and secondary students, is one such minefield. When handled by your accountant, who is eligible (it is means tested),
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what expenses you can claim and how to calculate the refund can help you get the maximum repayment. Health insurance is another issue with some complex elements, including choosing the level of excess for your private hospital cover that ensures you don’t have to pay the 1.5% Medicare levy. “The education tax refund and the Medicare levy are examples of the red tape that government has created for the average tax payer that they might not realise,” says Ken Ludeke, principal at Robina Financial Solutions. “The ATO is also doing cross checks with other organisations to check on certain details that people
Imagine Six | Autumn - Winter 2012
TAX TIME
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“The ATO’s rates are much higher than the banks.”
are putting on their tax return. Mistakes can lead to a person having to pay interest on any tax outstanding and the ATO’s rates are much higher than the banks.” People with investment property or shares are likely clients of such an accountant already, benefiting from advice on issues such as capital gains and when to put money into superannuation. The right time to start a relationship with an accountant is before 30 June, according to Ludeke. Once the financial year ends, it’s too late to take any actions that may help to minimise your tax obligation or increase the size of your refund. Ludeke says that it’s a good idea to consult with your accountant prior to any significant financial event. The sale of a property or shares, that might attract capital gains tax, are obvious reasons to talk to your accountant ahead of 30 June. They might suggest strategies such as tax deductible donations or injecting money into superannuation that need to 24
be undertaken before the end of the financial year. “We try to encourage our clients to be proactive, to come to us about any major financial event ahead of time so that we can advise them of ways to minimise their tax liability. We know what to look for, what questions to ask and how to proceed within the law.” The role of an accountant can be much broader than that of a tax agent who simply files your return. Ludeke points to the range of advisers – from insurance and mortgage brokers to lawyers and quantity surveyors – who may be associated with your accountant and who could also assist with your overall financial affairs. A good accountant will be able to look at the big picture of your finances and see where there might be gaps. A family with a large mortgage will need adequate life insurance, for example, in the event the main income earner dies. Or the owner of an investment property may benefit from greater depreciation if a quantity surveyor has documented the specifics. “We can help with overall financial life to make it better and make them aware of things they need and should have,” Ludeke says. “This is part of the general advice we provide as part of our service.” Some of these advisers, such as insurance and mortgage brokers, do not require an upfront fee, rather they are paid on a commission basis by the successful bank or insurance provider. But the benefit to the client can be a better rate that helps reduce credit card debts and assurance that the family will be provided for in the situation where the main income earner is no longer around. “We are trained in the laborious matters around tax and finances, we know what to look for and know what questions to ask,” Ludeke says. “We probe our clients to find out things and we know what to do to minimise tax within the law. The average person has to be far more careful if they are acting without the advice of a qualified accountant.”
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Imagine Six | Autumn - Winter 2012
TAX TIME
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Case Study One
Capital Gains A husband (aged 60) and wife (aged 56) came to see us in December after selling an investment property. They were both salary earners, earning $80,000 and $60,000 respectively. The sale of the property realised a capital gain of $100,000. The tax on this would have been about $37,000. We talked about possible ways to minimise this tax burden. We referred them to our associated investment advisor, who advised them to salary sacrifice part of their salaries into superannuation before 30 June. The tax saving was about $15,000.
Case Study TWO
Building family wealth A husband and wife were looking to build their family wealth and wished to purchase an investment property. We explained typically how property investment works financially and from a tax perspective. We then referred the couple to our associated mortgage broker, who discussed how they could finance the property. We also referred them to our associated risk insurance adviser who discussed with them the need for life insurance, income protection insurance and trauma insurance.
Case Study THREE
Deductions on an investment A client purchased an investment property during the financial year. She came to see us at the end of the tax year with the tax workpapers for the year. We asked her if she had contracted a quantity surveyor to calculate the depreciation deduction for the property. Under tax law, generally only qualified quantity surveyors can prepare such calculations. We referred the client to our associated quantity surveyor, who inspected the property and prepared the calculations. The net result was an annual tax deduction of about $10,000 and a tax saving of about $3,000 per annum.
ATO Tax Tips es
Imagine @ www.ato.gov.au/ business
The Tax Office has some useful tips and information to help businesses start the new financial year on the right foot. There are some important things all small businesses need to remember, including good record keeping practices, meeting GST obligations and reporting and paying tax and superannuation. Record keeping Good record keeping practices include: • r ecording all information from business transactions in a cash book, either electronically or manually • r ecording payment summaries for salary, employment termination payments, and reportable fringe benefits • s toring all documents in a safe place for a period of five years, and •w ithholding tax according to the pay as you go (PAYG) withholding rules, recording all GST obligations and paying superannuation contributions to a superannuation fund on behalf of eligible employees. The Tax Office has a number of programs available to help businesses keep good records including a record keeping evaluation tool, online calculators to help businesses calculate their tax obligations and eRecord - a free, electronic record keeping product which can help small businesses meet their tax reporting obligations. For further information contact the Tax Office on 13 28 66.
The information contained in this article is of a general nature only. This information has not been prepared taking into account your specific objectives, financial situation or needs. You should take advice from a qualified professional before making any investment decisions to ensure that it is appropriate having regard to your objectives, financial situation and needs. Financial Planning Services are offered by Robina Financial Solutions as Corporate Authorised Representative No. 402849 of Professional Investment Services Pty Ltd AFSL 234951 | ABN 11 074 608 558. Accounting Services are provided by Cordner Wilson Ludeke Pty Ltd.
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CAROL YIP
what wealthy women want Women around the world are building and inheriting more wealth than ever before. Their heightened visibility in financial circles can be traced to more women achieving success in the workforce and a greater number of women actively managing family finances.
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Story Carol Yip
ith longer lifespans than men, rich and independent widows with sizeable incomes are a growing demographic niche. But are bankers and wealth advisers paying sufficient attention to this alluring segment of the market? When it comes to investment decisions, men still make the lion's share of the choices about whether to invest in stocks, bonds or real estate. According to a report released by The Boston Consulting Group (BCG) July 2010, the gap is narrowing. In 2009, women decided how to allocate about $20 trillion in investments, about 27% of the world's wealth. It was up by 16% from 2008. In the same report, the amount of wealth controlled by women, about $0.5 trillion in Australia and New Zealand, rose by 24% in 2009. But old habits are hard to change. In New Zealand, one woman complained in BCG's report that banks tend to spend their marketing budgets on men by sponsoring sports events such as football and rugby and inviting men to the corporate boxes at games. Women, she said, do not get that kind of treatment.
Women of Wealth
Based on research conducted in 2011 by the Family Wealth Advisers Council, a network of US-based, independent feeonly wealth management firms, the financial services industry has a long way to go if they wish to provide the kinds of 26
services wealthy women say they want. The title of the study of high-net-worth American women says it all: “Women of Wealth: Why Does the Financial Services Industry Still Not Hear Them?”. Involving 551 women across the US with a net worth of $1 million or more, the study collected survey questionnaire data across marital status, employment status, age and net worth. The research looked at what worries wealthy women: • 86% of working women surveyed consider obsolete careers and eroding earning power as risks to their financial success; • Married women believe health challenges present a greater risk to their financial security than the death of a spouse; • 96% of women want their unique circumstances and their entire life picture understood by their financial adviser; • 80% of women (either married or divorced) believe that they will be called on at some point to help one or more of their children in a crisis; • 81% of retirees see a potential decline in the economy as a major risk versus 45% of full-time working women; • 57% of married women feel that divorce poses a significant risk to their financial well-being. With women’s economic clout in the workplace and purchasing power in all consumer and commercial markets increasing, their dissatisfaction with the financial services industry is also growing. The study clearly showed that women do not like to be considered a monolithic group, but want services tailored to their specific circumstances. Evidence suggests that wealthy women in Asia Pacific are also having similar experiences.
Imagine Six | Autumn - Winter 2012
CAROL YIP
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Different women have different needs
CAROL YIP
As more women call the shots on money, they also want their wealth advisers to do a better job of meeting their needs. They want the same attention, advice, terms and deals that men get with advisers who provide investment recommendations. But at the same time, women also want advisers to tailor services to them because they have very different needs and expectations than men. In the BCG survey, women said advisers tend to assume they have a lower risk tolerance than men so advisers provide only a narrow range of investment alternatives. Some women claimed that advisers for women are too quick to focus on strategies that don't emphasize on performance, assuming that women are more inclined to make investment decisions based on social issues. With these and other study insights, wealth advisers who service female clients should, foremost, recognize that women want to be treated differently. Some suggestions come from the findings: •W omen want to be understood as unique individuals. They want an adviser who listens to their needs and
is trustworthy. A fiduciary adviser who knows how to create strategic investment allocations based on a women’s situation, goals and risk appetite will stand a better chance of securing their business. • Women are looking for advisers who can provide advance planning, relationship management and investment advice - a one-stop boutique financial centre. • The wealth adviser’s gender plays an important part of the financial planning process for wealthy ladies. Female wealth advisers will be able to relate better to their situations and challenges than males.
Women’s Investment Attitude
It's no surprise that women's behaviour as earners, investors and savers is the subject of a large and growing body of behavioural economic research, which has yielded important findings. Women prefer to focus on long term investment goals and seek holistic advice. When women invest, they tend to look for informed advice and better rate of return than men. Women can be too conservative in their approach, especially given the fact that they tend to live longer than men. Ultimately, from the way they seek financial information and advice, to their understanding of the long term, women's financial behaviour holds crucial lessons for all financial advisers. Women may also tend to limit their trading far more than men do. They prioritize by protecting principal rather than taking risks to grow their assets. A study by the University of Michigan's Retirement Research Center found that men frequently and unnecessarily trade their holdings. All other things being equal, the male participants traded 56% more than their female counterparts, and the more they traded, the worse their performance became — "a result of a too-rosy estimation of their own investment skills," the researchers wrote. The landmark study on gender differences in stock investing also found that men tended to sell too early, or to swap assets for new ones that
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underperformed what they had sold. By contrast, women were more inclined to take the long view and understood that performance in many cases were best measured over time.
Huge Opportunity
Women's financial behaviour and preferences across varied situations show major differences from men's. Women's financial strengths are significant. So are their challenges. The provision of tailored wealth management services for wealthy women is much needed. There is a unique opportunity for the financial services industry to design investment, lending, trust and estate planning products and services that better address women’s needs, psychological preferences, life values and different life stages. Wealth is a ‘means of life planning rather than a goal in itself’ for women. The one-size-fits-all concept is no longer appropriate. Customized fitting is always the preferred choice to make wealthy female clients happy. Wealthy female clients will be loyal customers when wealth advisers deliver the results they want. A long-term trusting client-adviser relationship will be the result.
Kuala Lumpur will be the inaugural host venue for The Women & Money Asia Convention 2012 (WMAsia 2012), scheduled from 15-16 May 2012 at JW Marriott Hotel Kuala Lumpur, Malaysia. The Women & Money Asia Convention 2012 is a regional event conceptualized to provide updates to high net worth females on the latest trends in finance and wealth management and to equip them with the relevant financial knowledge to make better informed decisions in today’s changing landscapes. Visit www.WomenAndMoneyAsia.com for more information if you are keen to attend the convention.
Imagine Six | Autumn - Winter 2012
Are you getting the right financial advice on superannuation, investments and life insurance? Your financial future is a serious issue that requires the expertise and skill of a professional. Someone who is committed to providing the right quality advice.
Professional Investment Services Making sure you are ok! Speak to one of our financial advisers today:
1300 273 865
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CRAIG BALL
real life reality and relief As many people discover, taking out insurance and having Estate and Succession Planning in place, ‘Just in Case’ inevitably become the safety nets of life.
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raig Ball brought all the research and strategic skills he acquired from his years in the Royal Australian Navy to his post-service career in financial services. Working in the Combat Information Centre collecting, collating and disseminating data for his ship’s Commander during a period of service in the Persian Gulf during the Iran-Iraq War, Craig admits “there were a couple of harrowing incidents and a lot of stress amid the constant threat of attack”. Returning to civilian life in 1988, Craig attended a Navy Resettlement Seminar which featured an AMP Manager, Steve Helmich, who as well as imparting the key fundamentals of the financial services industry, echoed the ethos Craig was already familiar with: “The harder you work, the more you earn”. “That struck a chord with me,” says Craig, who with his wife and young child moved from Sydney to Brisbane to follow his path in Insurance. “I kept in touch with Steve and when he told me his Associate Manager in Sydney was retiring and offered me the position, I took up the offer to move back there for a few years in 1990.” From there, opportunities arose in Cairns, then in Brisbane, where Craig headed up the Toowong Sales Centre for AMP, with 65 advisers over four sites. By 1995, Craig was ready for independence. “I was ready to take control of my own future. I had been teaching advisers and I knew there wasn’t much competition in the area of Estate
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Planning. I saw there was a niche and I was ready to make the leap.” Starting from scratch, with no clients, he established his own company as an adviser, specialising in Estate and Succession Planning. By that time, with three children and a mortgage, Craig admits to being “nervous” and his wife Mary “absolutely horrified”. But with that singular focus and determined approach so vital in a combat zone, Craig got down to business. “I simply got on the phone all day for a couple of weeks to drum up interest. People saw the value in what I was saying. I soon teamed up with a couple of lawyers and started networking with accountants.” Paul Carter was the name of a very highly regarded Insurance Adviser and colleague of Craig’s. In 2006 Paul was diagnosed with terminal cancer and upon receiving this terrible news, he called Craig to ask if he would purchase his share of The Carter Group so that he could spend the rest of his days with his family. Craig felt honoured to be considered and he merged his business into The Carter Group and started up the Risk and Estate Planning department of the new enterprise. Tragically, in 2007, Paul passed away. “We kept the name as a legacy to Paul, his family and his contribution. He was a thorough professional, respected and loved.” Today, Craig says the company sets itself apart with its expertise in structuring. “Our focus is to create wealth and protect it, from the cradle to the grave and beyond!” He and his partners work with around 1500 clients at all levels – from insurance to retirement planning, superannuation and finance – around the country and the world. “Go-to Meeting
Imagine Six | Autumn - Winter 2012
CRAIG BALL
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Left: AFA award winners’ dinner 2011, Left to right: President of the AFA, Brad Fox, Craig Ball and Chief Operating Officer, Zurich Life Risk, Chris Rutherford.
and Skype are wonderful tools!” he enthuses, adding that the real tool that he employs for clients is his software program called ‘The Allocator’. “The Allocator is Australia’s first Estate Planning tool, and it allows us to maximise income and minimise tax for families when tragedy strikes,” Craig explains. “Instead of clients opting for a lump sum payout of life insurance, they can obtain tax-free Allocated Pensions for all dependent beneficiaries, including children. The Allocator also works out the most effective beneficiary allocation to ensure that a family’s future taxation liabilities are kept to an absolute minimum.” Craig and his team have made The Allocator available to Financial Planners, Risk Advisers and Accountants all around Australia. “The take up rate has been tremendous, not only from Advisers, but also Insurance and Superannuation companies and Dealer Groups. My goal is for every Australian family to be given the opportunity to structure their insurances correctly with an Adviser who uses The Allocator.” Referring to the parameters of current legislation, Craig says that if insurance is structured correctly inside superannuation, a wife and dependent children can receive over $48,000 each in pensions per annum. “For a Mum and two kids that’s nearly $150,000 tax free each year!” 32
Case Study One
Tracey
Tracey’s husband Gary passed away suddenly at age 46 leaving her with two young kids. Gary was a partner in a successful commercial plumbing business in Brisbane. The couple were responsible enough to realise that sometimes bad things happen to families. They implemented Buy/ Sell agreements (for the business) and Wills through the company’s associated lawyers. They also obtained sufficient levels of insurance to protect the business and their family. When it came to the claim, Tracey was very emotional. Fortunately, the Accountant, Lawyer and Financial Planner were all there with their expertise to ensure the claim came through and was allocated in a way to minimise risk. Garry Day was Gary’s business partner for 13 years. As he
explains: “Craig was my son’s water polo Coach. We were having a chat one day and I realised that we didn’t have income protection or key man insurance - anything. So Gary and I got together with Craig and while initially reluctant to pay for one more thing, we ended up taking out the full complement of insurance to cover every eventuation.” Without the agreements and insurances, Garry readily admits that he would have lost the business and his 35 employees would be out of work. “For sure. We had the insurance in place for about three years and when Gary died suddenly, we realised its worth. You just can’t operate without it when you have a business, a partner and families.”
Imagine Six | Autumn - Winter 2012
CRAIG BALL
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Meryl Davison, who is a client and also a Key Account Manager with Asteron.
Left to right: Jeff Singer, Craig’s Wife Mary and Craig.
Case Study TWO
Phillipa
Phillipa is a single mum looking after a young daughter. She had incurred some debts and sought insurance “just in case”. She was shocked when she was diagnosed with cancer at just 33. Her Accountant, Satvir Birk referred her to The Carter Group. As she explains: “He thought it was in my best interests to be covered for my debts ‘just in case’. At 33, it was hard to imagine the ‘just in case’, especially when insuring myself for a large sum for all possible scenarios was going to be quite costly as an annual premium. I imagined myself paying the premiums until I was
elderly when something might go wrong. “Less than a year later I was shocked to discover I had suddenly developed cancer. It was very stressful for my family and changed my life overnight.” Craig liaised with the insurance company and managed to achieve a pay out that was considerably more than Phillipa had anticipated. “We have moved to the country for a quieter life, I work less hours and enjoy the freedom to manage my health and stress and I know we will have a bright future now.”
Another facet of the business is working with clients to structure their Wills correctly with tools like Testamentary Trusts, to ensure “The right people are looked after – the immediate bloodline – not the in-laws”. “We have a 55 point check list for Executors and we work with our clients to gather all of their important documentation like Birth Certificates, mortgage and Trust deeds, insurance policy documents etc. A comprehensive report is provided, detailing vital issues such as asset ownership and important contact details, then we store it all in a fire proof box so that if and when it’s required, the family doesn’t have to stress over finding these documents and contact numbers – everything is taken care of. “When families suffer the loss of a loved one they tend to be in a highly emotional state and what they need more than anything is someone thinking logically for them. All of the documentation is in order – we then simply guide the Executor through the Estate Administration process”. During his 25 years in the business, Craig has heard the full spectrum of excuses as to why couples do not give adequate attention to their Wills and Estate Planning. “Some of the barriers include being too busy, feeling awkward about discussing their finances with somebody, or they feel their situation is too complicated, or even that they don’t have enough to worry about leaving a Will. But in my experience, we all have the same issues. You don’t have to be wealthy to set your affairs in order and if you have insurance, a home and any assets, you should consider structuring your Estate properly.”
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This article is to be viewed as general advice only. It is not intended to be, nor should it be construed as specific personal investment advice. Your financial circumstances, needs or objectives have not been taken into account and you should seek the assistance of a qualified professional such as a financial planner, lawyer or accountant before you make any decision based upon the content of this article. While all care has been taken in the preparation of this article, no warranty is given in respect of the information provided and accordingly neither Imagine Your Lifestyle Pty Ltd, its affiliates, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.
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DIVORCE
collaborative practice Taking the sting and the court out of separation and divorce.
There is generally no joy in divorce. From the cause of marriage breakdown, through to the despair and duress during separation, divorce and finally, settlement – it’s traumatic for all parties involved. Now there’s a forum for establishing common ground in the best interests of all parties.
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he process chosen to negotiate a settlement can make a big difference to the level of stress and conflict experienced at this time. With Marguerite Picard and Dr Tina Sinclair, Tricia Peters is Principal of The Melbourne Collaborative Alliance. “We take a holistic approach to helping both people and their children achieve resolution and move safely and confidently forward in their lives.” Collaborative practice is a client-centred approach which evolved in the US and is becoming increasingly popular in Australia as a more effective and more amicable way of reaching a settlement after separation. According to the US definition, “The heart of Collaborative Practice or Collaborative Divorce (also called “no-Court divorce”, “divorce with dignity”, or “peaceful divorce”) is to offer each partner the support, protection, and guidance of their own lawyers without going to court. Additionally, Collaborative Divorce allows each party the benefit of child and financial specialists, divorce coaches and other professionals all working together on their case.” The Melbourne Collaborative Alliance facilitates a nonadversarial and collaborative process. “Think of it as a one-stop-shop,” says Tricia of their collaborative centre. "We have all the services separating couples and their families need, available all in the one place." “This is an alternative to the lawyer-led system. We believe strongly that divorce is an emotional crisis not a legal crisis.
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While it has legal and financial consequences, you can’t deal with these effectively, without dealing with the emotional issues. “We use an 'interest-based' approach which focuses on what's important to that couple and their family.” According to Tricia, people often don’t understand that they are engaged in a legal process when they go to a lawyer to help them organise a divorce settlement. “It’s not about the end of your marriage or the pain you are going through. In conventional legal process, lawyers for both parties are intent on winning their client’s case. The downside of this scenario is that, more often than not, someone loses and the level of conflict increases. “Most people don’t realise that the legal process drives their case. They often feel like they are forced to negotiate at the worst time of their lives and in fact don’t have the time to collect their thoughts and consider what they want. The entire process can be clouded with emotion and decisions are made that have life-long consequences.” Collaborative practice addresses the emotional crisis and allows people to talk about what is important to them and is certain to reduce conflict by helping people to see some of each other’s perspective. A Certified Financial Planner with qualifications in accounting and finance and expertise in superannuation, Tricia is also a mediator and collaborative professional and trainer. She is also Principal of PetersMcKeown financial planners, where she says that 'helping women manage their money and financial resources after settlement is our focus'. She has worked for many years helping people with financial
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DIVORCE
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settlements after separation and divorce and has seen the immense difference, sound financial planning advice can make to people, particularly during one of life’s most challenging times. “People often don’t know where the money goes and separation casts the spotlight on any financial problems,” she says. “Sometimes one partner was in charge of the finances and the other feels they don’t have any idea about money. Fear about financial security is very real for many facing separation. Putting everything on the table gives transparency and information to enable frank discussion about money.” Every situation, every client is different, Tricia observes. “No matter what the dollar amount a couple is discussing, there can be a lot of fear and uncertainty. Our objective is to facilitate communication, identify the needs and interests of each person, list the elements of the project and reduce the conflict to resolve the matter to each person’s satisfaction.” MCA has assembled a team of professionals to help a couple navigate the complex family relations to prepare them to come to the table and settle so that it’s a win-win arrangement. Couples and families are helped to separate with dignity, to achieve deep resolution and transition to their new lives in a positive and business-like manner. “The difference is that the parties involved are the ones who will ultimately make the final decisions, rather than the Court system,” says Tricia. “It’s amazing how creative clients can be when designing settlements that meet their unique set of circumstances. These sorts of settlements would not be achievable through the traditional legal system.” Engaged are 10 lawyers, six psychologists/family consultants, six financial planners and four specialist child psychologists. Interdisciplinary collaborative practice is a bit like project management, Tricia says. “We bring on the right people, with the right skills, at the right time, depending on what resources a couple needs. As well as a lawyer for each person, we have a psychologist/family consultant to help gauge the clients' readiness and to assist them to communicate openly and respectfully. There’s a financial planner to help gather and assess information about the 36
Case Study One
The Caseys Ellen and Trevor had been married for 12 years and had two children aged 11 & 9. Trevor had begun a relationship with another woman. After Ellen discovered the affair, Trevor agreed to end it. Ellen discovered some time later that the relationship was ongoing. Trevor and Ellen had several counselling sessions, but it was clear that Trevor was no longer committed to the marriage. Ellen was extremely angry. She was also extremely fearful about becoming a single parent without income support. They began working with their Collaborative lawyers, Children’s Psychologist and Financial Planner, to achieve the best agreements for the children and the way they would organise their money and property. The Collaborative lawyers drew up Financial Agreement and a Child Support Agreement for Trevor and Ellen. The Child Expert assisted them to write a Parenting Plan. The financial planner helped them work out how they would pay for the children’s expenses and what budget cuts would be needed in the light of their new circumstances. This has helped Trevor and Ellen co-parent effectively as they can present a united voice to the children about what can be afforded.
Imagine Six | Autumn - Winter 2012
DIVORCE
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Case Study Three
The Andersens Harry consulted one of our Collaborative lawyers. He and Wanda were separating, because he said Wanda had a problem with gambling and he feared she would spend all their money and the only way he could stop that would be to divorce her. Our Collaborative lawyer spent time talking to Harry about his marriage and relationship with Wanda. Divorce was the only solution Harry could think of. He did not really want to separate from Wanda. He wanted to separate their money from Wanda's history of overspending. Harry was concerned, as the sale of the family business was imminent and there would soon be a lot of money in the bank.
Case Study TWO
The Brookes David & Robert had been in a relationship for many years. That relationship was now changing to a business relationship only. They had considerable assets. They had begun having difficulties over the issue of relocating their tour business overseas. David did not wish to relocate and wished to cash in his interest in the business. Robert could not afford to pay David out and could not afford to borrow money without mortgaging both of their properties. It looked like the business would have to be wound up or sold. When they had both appointed a Collaborative lawyer, they met with the family consultant and then began discussions in joint meetings. The financial planner worked through the numbers with both of them and helped them see how their resources could be used to meet the interests and goals they each had. The aim was to look at creative ways to resolve their issues the agreement reached required flexibility and time for Robert to restructure his business affairs. The solution reached could not have been achieved in litigation. David and Robert have a Financial Agreement under the amendments to the Family Law Act, which sets out the agreement they reached in their meetings.
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Our lawyer suggested that there might be other solutions apart from divorce and Harry agreed to invite Wanda to appoint her own Collaborative lawyer; she also wanted to stay married. Harry and Wanda met separately and together with our psychologist/ communications expert, who was able to understand their concerns and their history. They received coaching about ways to make their communication effective, so that they could understand each other's point of view. Harry and Wanda remain married. They have a Financial Agreement under the Family Law Act, drawn by their Collaborative lawyers. After the agreement was settled, they began work with our financial planner and are delighted with their new understanding of the opportunities that exist for their financial future.
financial resources there is to share and to help with budgeting and planning for their future. It’s an entire support group around the couple.” Then there are the child specialists, “not to write a report, but to bring the voices of the children to the table and help parents make decisions that are in the best interests of their children,” explains Tricia. Children and the expense of raising, educating and maintaining their lifestyle is perhaps the greatest issue when families fragment. MCA has a range of practical tools it uses with clients. “Working with a couple on family budgeting helps everyone understand what it costs to provide for the children and allows the parents to make joint decisions about what can and can’t be afforded in the future. These discussions can change relationships around money and help improve coparenting.” Sometimes couples need to be creative in the way they structure their settlement to maximise their resources. “There can be underlying expenses associated with certain assets, eg capital gains tax on an investment property, and knowing how these can be legitimately reduced can be a real benefit when the family’s resources are being divided.” Superannuation splitting is a complex issue for separating couples and is quite often one of the major assets people have. Tricia is one of only a handful of superannuation splitting experts in Australia. “I’ve been able to help people understand how they can get their superannuation to work better for them.” “We aim to undertake this process as respectfully as we can, functioning to benefit all parties involved. It’s as stress-free and seamless as possible. Their own lawyers are involved to work with them, giving legal advice when needed but importantly to help empower them to confidently make their own decisions.” Divorce is, hopefully, not a repeat business. “You don’t need this until it happens to you,” says Tricia, who adds that word of mouth from couples who have experienced their brand of collaboration and referral from Counsellors are the current means of drawing clients.
Imagine @ www.melca.com.au 37
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38
LENDING
Imagine Six | Autumn - Winter 2012
LENDING
Imagine
adding value Dannie Lui and Henry Cheng together as Value Print Financial Services, focus on the Chinese community, living locally in Melbourne or overseas.
A Left to right: Nicky, Dannie, Henry and Sunnie.
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ccording to Dannie, Value Print began operations in 2009 as a specialist provider of a one-stop Financial Planning and Mortgage Consulting service. “We have a wide range of loan products including Residential Home and Investment loans to both local and overseas clients. Recently we focused more on commercial lending and have helped many clients successfully purchase shops, offices, hobby farms, as well as motel extensions. As a financial planning based company it added to our responsibility to continually develop further services that we could offer our clients.� With more than nine years working in the finance industry, Henry is a qualified financial planner with a Bachelor degree in Finance (University of Melbourne), and has attended many courses in financial planning and associated subjects. He is accredited through Australian Loan Company and having passed exams in core financial services and financial planning.
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LENDING
His specialties are negative gearing, wealth creation through property investment and long term strategic financial planning. He says: “We provide intelligent solutions to your specific borrowing requirements.” The company Director, Dannie Liu is a copartner of Henry and has more than 10 years experience working at senior management level including working for public IT company. That brings valuable insight to the workings within big organisations and the basic fundamentals with regard to diligent investment. “We developed our VCDS (Company-owned Centralized Database System) and Value Print client platform through which we built up good relationships with the clients and benefit from the continued referrals,” explains Dannie. The point of difference for the team is its philosophy, says Dannie. “In an industry where many brokers have little 40
experience, we bring relevant educational qualifications and industry knowledge together to differentiate ourselves,” he says. “Most importantly, we’ve built strong relationships and deep trust with the majority of our clients. We have stepped up from our own humble beginning so we now are able to share our improvement with all of our clients.” They approach every client request as an imperative. “No requirement is too small. All emails and incoming calls are a trust on our service,” says Henry. They live and work this ethos. Dannie and Henry provide a seven day call response service. “We found it is helpful because many clients call us at the weekend when they attend auctions or inspect properties and want to make an offer. We understand the market and requirements, especially those who need urgent help. Therefore we do not mind call back or give answers as soon as possible.”
Imagine Six | Autumn - Winter 2012
Imagine
LENDING
Case Study Here’s just one example of how Value Print has helped a satisfied client to 1) refinance and 2) fund new purchase by no cash required, and 3) take tax benefits: Pham, a father of 2 young children, has two properties in Forest Hill and Kew respectively, was finding it quite difficult to get tax reduced from his current investment structure. So he bought a new investment apartment and asked us for help to determine his loan options. After getting a good understanding of his individual situation, we found that restructuring his current loans was his best option. In addition, we found that by this restructuring he was not only able to get enough funds to settle the new purchased property, but also able to take cash saving and tax benefit from 100% LVR borrowing on the new purchase. We did the time-consuming research for Pham, and compared different valuation panels because the result of value is a key issue in this loan option.
We also built up two plans for him and a 2-person team was working on the whole procedure. Through research and comparison we found that remaining in the existing bank would help him take all benefits from 1) cost control especially on interest discount and package fee, 2) higher valuation, and 3) long term customer relationship. We finally still applied through two banks as we always have the alternative as backup for the majority of our clients. As a result we were able to offer him the new loan structure through refinancing that better suited his new requirements, and included the loan features he wanted. It is worth mentioning that we split 4 different loan accounts against 3 different securities. By this arrangement his accountant will clearly find that the tax benefit is maximized and he can easily work on the tax deduction from the clear investment loan statements. Below is a table to outline a simple comparison:
Before refinancing: Ownership Borrower
Balance Owing Before Refinancing
Interest Discount
Mr. & Mrs. Pham
$500,000
0.7%
Investment Loan
Mr. Pham
$356,000
0.7%
Proposed Loan Amount
Mr. Pham
$288,000
0.7%
Type of Asset/Liability Home Loan
Dannie adds: “When most clients purchase their first investment property, they are unsure of how to structure the whole thing. They ask us for advice. We take things relatively slowly, and explain every little detail to them.” All the tax implications are outlined by Henry while Dannie arranges low interest rate finance for clients with the features they want or can best benefit them and their situation. It’s a source of great pride for Dannie and Henry that most of their clients now own three to four properties; especially when most of them never thought this possible. au
Imagine @ www.value-print.com.
Value Print Financial Services Pty Ltd is the Authorised Representative of PIS (Professional Investment Service) Australian Financial Services License (AFSL) No. 234951. ABN 11 074 608 558
w w w.imagineyourlifestyle.com.au
Total Tax Deductible Loan Amount
$644,000
After restructure: Ownership Borrower
Balance Owing Before Refinancing
Interest Discount
Mr. & Mrs. Pham
$504,000
1%
Investment Loan
Mr. Pham
$466,000
1%
Investment Loan
Mr. Pham
$230,000
1%
Investment Loan
Mr. Pham
$130,000
1%
Type of Asset/Liability Home Loan
Total Tax deductible Loan Amount
$864,000
Summary for above loan accounts: $504,000 is against existing investment property $466,000 is against current home $230,000 is refinanced from home and together with $130,000 both against new purchased investment property. 41
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EDUCATION
intergenerational wealth transfer a strong case for a learning strategy Parents should not be the only people concerned about the transfer of wealth across generations. Advisers, accountants and other financial service professionals need to offer more than a few estate preservation products to safeguard family wealth. Without an investment in wealth education family wealth has minimal chance of enduring. Story Ken Swan
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ecently I met with my accountant to plan a wealth education program for the children and teenagers of clients. He mentioned one of his very affluent clients who thought it wise to give his son $1 million on his eighteenth birthday with an expectation that he would grow that sum over the coming year. It was an expensive learning experience for the father. Not only was the one million dollars gone within the year, but there was also quite a debt. This experience is not isolated. Every advisory
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service and accountancy firm I speak with provides similar stories of concern related to wealth transfer. I also recently spoke with the principal of a large financial advisory group who said he was spending considerable time now talking with wealthy parents about managing their children’s use of that wealth. Many have expressed the view that their children demonstrate minimal capacity or willingness to make the wealth endure. For many clients in this advisory group, their children do seem to think that the money is endless and can appear almost instantaneously as the result of a phone call or email request. Setting up trusts with strict guidelines for the issuance of money is one strategy often used. Unfortunately, it hides
the issue that many parents and their financial advisers and accountants have missed; that is, the transfer of wealth across generations must be planned well before the need has arisen. Intergenerational wealth transfer strategies must include more than protocols and structures about the physical movement of money. It must be based on common understandings, a broad strategy of learning that incorporates values, attitudes and beliefs as well as the more formal financial constructs. Ultimately, it is parents who must take full responsibility for planning this strategy, but accountants and advisers should show initiative to support that planning for two reasons. Firstly, as a professional service provider Imagine Six | Autumn - Winter 2012
EDUCATION
there is a duty of care and responsibility to act in the best of interests of the clients. Recently PricewaterhouseCoopers (PwC) published a report entitled Anticipating a new age in wealth management in which they state, “an advisor must have at its disposal the skills, tools, techniques and strategies to develop a long-lasting relationship with not only the patriarch and matriarch of a family but also their heirs and spouses and any vehicles of philanthropy. Our studies have shown asset attrition on inter-generational transfer of more than 50% in many markets. Respondents told us that creating loyalty across multiple generations of clients can significantly cut asset attrition. Understanding a family’s time horizon, unique needs and challenges as they develop over time are all critical aspects of cross-generational asset retention.” The findings of this report point to the second reason. Financial service providers who do care for the “multiple generations” minimise the likelihood of losing clients and their financial assets. It makes no sense for such providers to potentially lose up to 50% of their clients (and therefore their client’s assets) simply because they have not built a client relationship with the next generation. w w w.imagineyourlifestyle.com.au
There may be a tension here between the needs of the local community financial provider and the wealth managers or dealerships to which they associate. While some individual advisers nearing retirement may not feel this multigenerational responsibility, the fund managers and dealerships will want to keep the overall client base. In current times it is extremely difficult finding new clients and establishing new deep and sincere relationships. As the PwC report reaffirms, “targeting heirs early represents an opportunity to continue long-term relationships with a family…. It demands an evolution in the educational offering of wealth managers to reflect the goals and horizons of wealthy individuals and their families.”
Sharing the responsibility Globally, there is an increasing recognition of the need for sharing the responsibility of financial education. The Australian Securities and Investment Corporation is investing heavily over the next few years in the financial education of all Australians. A visit to the MoneySmart website is evidence of this commitment. A search of the site will also find many reports on financial education,
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including behaviours and habits that are influencing the wealth of individuals and families. From an educators perspective it is pleasing to see that ASIC has reaffirmed what educators have known for a long time. Knowing financial content has very little impact on a person’s financial capability. It is the behaviours, attitudes and skills associated with that content that will make a difference to financial decision-making. Intergenerational wealth programs must be built on this premise. The Bank of America’s U.S. Trust recently made the following observation. “If you are looking for the core strength of an institution such as U.S. Trust, this is surely it: client relationships that span many generations, and a capacity to help each of those generations grasp the implications of wealth.” Clearly, one of the world’s largest financial institutions has now seen the light. Good on them. I hope their programs are truly educational and are more than token rhetoric. Charles Schwabb, another of America’s larger financial service providers has had a long-held view regarding the necessity of financial education. Schwabb regularly surveys teenagers for their views on 43
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EDUCATION
financial education. Some of their findings include: • 86% say they would rather learn about money management in a class before making mistakes in the real world • 7 5% say that learning more about money management including budgeting, saving and investing, is one of their top priorities. I believe a survey of Australian teenagers would reveal similar results. Such research is a message to us all. Financial education and wealth education are important, especially for teenagers if they are to learn to be good financial decision-makers in the future. Fund managers, dealerships, banks, advisers, accountants and parents must all contribute toward supporting young people become financially capable. In doing so, intergenerational wealth transfer will become less of a problem for parents and their financial service providers who have serviced those parents for many years. The added benefit for financial service professionals is that there is an increasing source of revenue possible in facilitating such an educational service, as parents will surely pay for quality education that will help their children. History has proved this in all areas of learning. The revenue more usually associated with estate planning will continue to increase over coming years as Australia’s population ages. Research by Lifeplan 44
Funds Management in 2008 indicated that $1 trillion in assets is likely to transfer down the generations by 2021. This is a significant collective sum that all financial institutions will want a slice of. While I believe education should be a key platform in any strategy trying to secure those funds, there is however a challenge for institutions looking to capture large slices of this transfer. “The challenge is to adapt their communication and marketing strategies to meet the needs of the younger generation rather than provide the service offerings designed for their parents and grandparents.”1 Any provider that thinks the same client relationship strategies will work for teenagers as they did for their parents will not cut through. The social networking threads that connect the lives of young Australians will quickly sort the providers who have teenagers’ interests’ front and centre, or their own.
The teenager perspective If I were to put myself in the shoes of teenagers of high net wealth parents especially, most of whom have had very limited wealth education, I would expect they would feel some fear and trepidation about the journey ahead. While I am sure they are pleased to have a financial head start, the responsibility they feel may be a difficult burden to bear. Is it fair to give them such responsibility without due preparation? No. To do so is similar to
giving your child the keys to a formula one racing car without the necessary training. At some point they will crash. As mentioned earlier, parents are ultimately responsible for the upbringing of their children. They are their first teachers and the habits and values their children demonstrate are largely the result of the formal and informal experiences they have encountered during their life. The financial behaviours, attitudes and skills they demonstrate result from this mixture of experiences. Wealth education is an experience that must become common for all teenagers. It will not only be good for them as they make financial decisions during adulthood, but also for their heirs in decades to come. Parents should consider the learning strategy they have in place now for their children. As always, education is the way to make a positive difference that is enduring.
Imagine @ www.thewealthacadem
y.com.au
Ken Swan is founder of The Wealth Academy, a company that supports financial providers in serving the wealth educational needs of their client’s children, teenagers and young employees. Ken can be contacted at admin@thewealthacademy.com.au 1 Branding and Segmentation in Wealth Management Report 2011 http://www.researchandmarkets.com
Imagine Six | Autumn - Winter 2012
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Investment
| Personal Insurance | Superannuation
Imagine
Property
investing in residential property. Get Rich Quick, Become a Property Millionaire, Pay off your Mortgage in 5 years, Capital Growth Assured - all popular promotional phrases, or titles of books! But all are also very far removed from the realities of property investment.
S
o where do I stand on the whole residential property investment front and the phenomenon of this investment vehicles growth in the last decade or two? Books containing 100s and 100s of pages are written on this subject alone, magazines dedicated to this subject – it has moved on in such a dramatic way since I started in the world of Real Estate in the mid 80s. Do you know why and how this form of investment exploded in recent years? In my opinion one factor alone has created all this world of possibility and profits and losses for the masses – the ease of obtaining finance for Mr and Mrs Typical to buy a second, or third and onwards property purely for the purposes of making $$$s. The change in focus on seeking capital growth and rental income as the temptress and ignoring the paying off of the debt (mortgage). In fact the benefit of the potential loss every month was being sold as a feature and something to reduce your tax bill! Negative gearing was king!
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Let's look at some then and now scenarios: Then: Buy new to offset more tax benefits with depreciation allowances. Now: Never mind the fact you could buy a home the same around the corner 3 years old for 15% less! Then: Buy a reno – do it up sell for a profit Now: forget to add in stamp duty and sale costs, holding costs etc and then discover profit is a distant memory. Then: Buy a bargain, hold on to it for a year sell at a profit Now: but market stands still a year later the resale doesn’t even cover your costs. Then: Buy as many homes as you can, retaining all, rent covers loans and equity gain pays for deposit on next one. Now: except rent does not cover loan and equity gain not happening. Then: Buy a property for investment, negatively geared and use the loss to reduce your tax bill. Now: Finding the money month to month to cover that loss is more stressful and costly and outweighs any so called tax perks.
Imagine Six | Autumn - Winter 2012
Property
Residential property investment has always been traditionally a solid and safe long term investment plan. I do believe it is still exactly that but because we have just experienced long periods of property profits, easy finance and people relaying their true life 'money making property stories' have bred a whole group of investors who believe it is easy and if they don’t believe it’s easy; they just hop into a seminar or buy a book and off they go! Many so called experts and people who have made money in property did this in an era where quite frankly it was bloody easy! if you had the bottle to take on multiple loans, use leverage to find deposits etc you made a killing. Even those at certain times who bought and paid top price, undertook no research, or maybe bought a reno did a cheap bad
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fix, both sold quickly and for big profits. Those times don't last and in the current economic climate are not likely to be back for many, many, years. I don't want to put you all off, but the rules have changed, these changes were inevitable. The housing market of the future cannot grow at the same percentage rates, as it has done, because in real terms for example 10% growth for a typical average home equated to one Holden Commodore, now at today’s prices that same percentage growth would equate to two Holden Commodores with GPS option and extra spoilers. In very recent years acquisition costs like stamp duty, due to house prices and mean governments have stopped what was a little pain to a massive financial penalty, even for 47
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modest priced homes. Real estate fees too, usually percentage based, have become a big deal and if you cannot find 20% deposit there is a one off mortgage indemnity payment your lender will want to charge and that can be in the tens of thousands of dollars on top! Personally I see a residential investment market more like we did pre mid 90s, a more sensible place, an investment vehicle for the long term, buy to turn (sell quickly) only in rare situations, where buyers start to analyse risk correctly. Sure, read the magazines and the books, but you pay for them so they have no real angle, unless they are telling you to buy more copies! But seminars? Seminars about property investment should feature Tax Accountants, Property Analysts, Lawyers, Licensed Mortgage brokers OR Developers selling their own product, again that is fine it makes sense. However there are those run by Marketeers, a special breed who hide secret 'price mark ups' yet appear to give you everything free, they call themselves investment specialists promising the earth if you follow their strategy. Buyer beware, if they are paying for the seminar who is paying them? They are making money, are you sure you could not buy better yourself? So still not put you off? Good here are a few tips to help you: Risk - do you want to play it safe or take a risk? Less risk is in housing markets you know well, where you build in a financial cushion if holding costs go up, rent reduces or the home is empty for a while, a property you can drive by regularly etc, a location you know you have paid the right price and the area is popular. High risk is in an unknown area to you, a market new and emerging, a property you will only be able to see a few times a year, or something with rezoning potential, all potentially great but higher risk. Finance - this again is linked to risk. Play it safe so you can afford it if costs go up, or your income reduces, maybe you want to push the finances but understand that is higher risk, you can make bigger profits, but big losses too. These could even affect your family home, or day to day life. Decide on a location, this is vital and only when you know a location, or area, can you make an informed judgement so important in today's modern market. Mining towns, visit them, review the employers housing for their staff, ask local agents, look at the stats before you commit, know your area. Even a location 10kms from home can have a totally differcnt market from your suburb. Once an area is decided most places will have some good and bad buys at any one time, no matter where you choose. Understand the area's median/average house prices. Anything 48
around, or below that figure is likely to be generally easier to sell and rent, a very general rule, but usually true, of course profits will not be so big and there will always someone wanting the best houses in an area. Use online research such as realestate.com.au, domain.com.au and rpdata.com.au all great insights, something we didn't have in the mid 90s all to give you an insight. Remember if you want second hand bargains always look at homes that have been listed a long time! Understand a property investment is all about what you pay in the first place, how much it costs you to own and what you will sell it for; that is it nothing more complicated than that! Do not rule out any property type, buy what is right for the location whether it is freestanding, a semi, a unit or townhouse. Avoid marketeers/certain seminars etc. Use them but do your own research, buy from real estate agents or developers direct, kick out the middle man. If a market is booming and a massive capital growth has been reported, you buy there you could be buying on a high so watch out! Finally, the market changes all the time and with a certain amount of unpredictability. At some point the capital growth could be heading up or down, another time rents will fluctuate, although rents are more stable and slower to change than sale values, a profit is never guaranteed no matter how sensible you are! So where do I stand on this whole subject right now? Well, I would like you to consider buying a property investment like buying shoes: you see all the catwalk shows, the designer shops to tempt you, there are the comfortable ones, the shocking ones and the bunion enhancers; such a huge range! You must only choose a pair comfortable for you, ones that fit your needs and you can relax with and don't expect to be able to re-sell them straight away on ebay for a profit! au
Imagine @ www.andrewwinter.com.
Andrew Winter is best known as host and residential property expert for the award-winning series Selling Houses Australia, exclusive to The LifeStyle Channel. He is also author of the ‘No Nonsense Guide to Buying and Selling Property’.
Imagine Six | Autumn - Winter 2012
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Market news
Maggie Beer’s Sparkling Ruby Cabernet A great accompaniment to venison, or any other game, is Maggie Beer’s Sparkling Ruby Cabernet. This refreshing non-alcoholic bubbles is made with early harvest Cabernet Grapes, with the bead of champagne and the mouth feel of a good wine. www.blackpearl.com.au
Do give a fig!
The fruit of the Gods, familiar to Roman and Greek legend and lifestyle, figs are small, pear-shaped fruit, with thin edible skin and sweet pulpy flesh. Their skin colour can be purple, white, black or red, although the ones we most often see are pale green, ripening to a deep purple. Their flesh is a deep crimson in colour, with tiny edible seeds giving it a slightly granular texture. Available until May, figs are delicious on their own, in salads, or in desserts and baking.
The Ducks Nuts Orange Obsessions For the chocolate connoisseur looking for that something special to ‘hit the spot’, look no further. Award-winning Duck Creek Macadamia’s have again cracked the nut with their NEW couverture chocolate indulgence which will leave you orange with obsession. Duck Creek’s ‘Orange Obsessions’ are premium roasted macadamias panned in orange flavoured couverture dark chocolate and dusted in Belgium coco powder. This limited edition hand-packaged delight may have you developing a devotion bordering an obsession! ‘Orange Obsessions’ come in a variety of ways – Limited Edition Jar: RRP $19.50 (230g); Small Jar: RRP $14.20 (230g); Large Jar: RRP $28.65 (500g). Snacking on Duck Creek Macadamias has never been more indulgent. Available in gourmet food stores Australia wide and online www.duck-creek.com
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in season Chocolate fig and hazelnut torte 250 g dried figs ½ cup Frangelico 250 g Hazelnuts 300 g Dark Chocolate
1 Pinch of Cinnamon 6 Free Range Eggs (whites only) 100 g caster sugar
Method. Pre heat oven 160 degrees. Dice figs, place in bowl & pour over the Frangelico and pinch of cinnamon Whilst you prepare the rest of the recipe the figs will soak up a bit of the alcohol. Roughly chop chocolate and hazelnuts add to figs. Beat egg whites until stiff & slowly add in sugar. Fold fig, chocolate and nut mixture into egg white mixture. Spoon into foiled 25 to 30cm cake tin. Bake for 45 mins or until golden and just firm. Serve Warm or cold with double cream.
Imagine Six | Autumn - Winter 2012
SALT GRILL
Imagine
A pinch of Salt grill One of the Gold Coast’s newest and most popular dining establishments, Salt grill by Luke Mangan, has achieved a significant milestone only four months into trading having been officially acknowledged with a Chef Hat in the 2012 Australian Good Food Guide Awards this month.
Luke Mangan, David Kelly, GM at Hilton Surfers Paradise, and team from Salt grill.
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CUISINE
eading Australian celebrity chef and restaurateur, Luke Mangan, opened his first Queensland Salt grill in September 2011. Located on level 1 of the new Hilton Surfers Paradise, the restaurant is a fashionable, urban venue where the team focus on the delivery of contemporary Australian food using the finest and freshest ingredients, sourced locally. According to a representative from the Australian Good Food Guide, Salt grill is a very welcome addition to the Gold Coast dining scene. “It is very rare for a restaurant that has only been trading for a few short months to achieve success in these awards. It really goes to show the calibre of restaurant that Salt grill is,” says the representative. The restaurant itself has a large open plan kitchen allowing guests to interact with the Chefs and see their meals being prepared right in front of their eyes, a spectacular wine room and three separate dining zones that each has their own unique feel and distinguishing features. “Choosing the Gold Coast to open my new restaurant made perfect sense to me as Hilton Surfers Paradise is an ideal location, and it has been very exciting to show the Gold Coast my own rendition of contemporary Australian food,” says Mangan. “Salt grill is an ambient space where locals, foodies and visitors can feel relaxed and comfortable, yet indulgent at the same time,” he says. “There are already some really great restaurants on the Gold Coast, and it has been terrific to be able to be able to give locals another option serving simple and uncomplicated food, that is full of flavour. I would like to personally thank all of the Gold Coast locals who have been in to Salt grill for their support” With dishes that reflect Luke’s classical French training and Asian influences, restaurant patrons have come to know a unique combination of delicious unpretentious fine dining cuisine, affordable prices and an atmosphere that is chic, playful and creative. Luke Mangan is one of Australia’s leading chefs and restaurateurs and is highly regarded internationally as a shining example of Australia’s culinary culture. His career started in Melbourne under Herman Schneider, of
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‘Two Faces’ fame. After completing his training, Luke persuaded Michel Roux of the 3 Michelin starred ‘Waterside Inn’ in London to give him a chance. He believes that working under these great chefs in the early years were the two most important steps he took to learn his craft. Luke currently owns and operates glass brasserie, Hilton Sydney; Salt grill, Hilton Surfers Paradise; Salt grill, Singapore; Salt and the adjoining World Wine Bar, Tokyo; and Salt grill onboard three P&O cruise liners. He is also the consulting chef for Virgin Australia. While Luke’s restaurants range from casual to fine dining establishments, they share the common thread of Luke’s cooking philosophy – which is to source the finest and freshest local and Australian ingredients and showcase them with a clean and contemporary twist. Luke is renowned for his unexpected creations, which highlight his French classical training and Asian influences, married with simple, fresh, clean flavours. Luke’s cooking aims to enhance and accentuate, rather than mask, the natural taste of the ingredients. In addition to running seven busy restaurants, Luke has written four best-selling cookbooks and most recently, his autobiography ‘The Making of a Chef’. He has launched his own range of gourmet products and also makes regular appearances on number of TV shows, both in Australia and internationally. Further testaments to Luke’s excellence are the requests he has received to cook for, including former US President Bill Clinton, Richard Branson, Tom Cruise and at the wedding of Danish Crown Prince Frederik and Princess Mary. Luke regularly donates his culinary skills to both community and industry organisations to raise money for charity. He supports Camp Quality, Starlight Foundation, Newman’s Own Foundation and FSHD Global Research Foundation, amongst numerous others. He is the co-founder of the Appetite for Excellence hospitality awards program which promotes the development of young chefs, waiters and restaurateurs in Australia. Luke was recently presented with a ‘Friend of Australia’ award; the program which is run by Tourism Australia, is extended to a select few, whose outstanding achievements and contributions give them a voice on the world stage, assisting to promote Australia as a travel destination.
Imagine @ www.hiltonsurferspar
adise.com .au
Imagine Six | Autumn - Winter 2012
SALT GRILL
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CUISINE
kingfish sashimi, persian feta, ginger and shallot Created by Luke Mangan You can use any good quality fish for this canapĂŠ. Ingredients 200g good quality kingfish sea salt freshly ground black pepper 50g Persian feta Dressing 50g ginger 100ml sugar syrup (see below) 50ml vinegar 1 shallot, peeled and finely diced 1 tablespoon soy sauce splash extra-virgin olive oil Sugar syrup 500g white sugar 500ml (2 cups) cold water
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Preparation For the sugar syrup, put sugar and water in a saucepan and boil until sugar dissolves. Makes about 1 litre. Sugar syrup lasts for a long time and is handy to have made up. Store in a sterilised jar in the refrigerator. For the dressing, peel and slice ginger very thinly with a sharp knife (or mandolin if you have one). Blanch in boiling water for 2 minutes and refresh in cold water three times. Heat sugar syrup and vinegar together and pour over blanched ginger. Let cool, place in fridge for at least a couple of hours for flavours to develop. To serve, dice ginger as fine as you can (retaining pickling liquor), mix with shallot and soy sauce, olive oil and a splash of pickling liquor. Slice kingfish thinly with a sharp filleting knife, season and drizzle with ginger and shallot dressing. Twist the kingfish into the shape of a rose and serve on Chinese spoons, lavosh bread or another type of biscuit. Finish with crumbled Persian feta.
Imagine Six | Autumn - Winter 2012
RECIPE
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Health
are you deleting your life? Story Geoff Edwards
“Are you paying attention to me now?”
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his is a very common phrase and a question that arises easily from our fast paced, high tech world where we are competing for attention with the huge volume of information we are provided with – 200 billion emails and 75 million blog posts daily, 500,000 new books every year, 8bn web pages very minute. Is it any wonder that we have developed short attention spans that operate in delete mode – in some cases, we are not evening taking notice of important people, places and events in our lives, so let’s hope it is not your actual life that you are deleting! By living in a world where there is a constant stream of information, our minds are tricked into believing that we need more of everything. Although you can’t change what you see in Times Square with its vast array of billboards, lights, shows
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and people, we have choices and are able to limit that influence and determine what we let into our sight. You can choose what books you read, what movies you see, which TV shows you watch and how you would like your life to be. It is important to be the “observer” of your experiences and make choices that align with your purpose, not someone else’s. The following article highlights some aspects of our modern world that you may like to consider.
Is this You?
Life is filled with many opportunities. It is important for everyone to decide what is the correct path to take – this comes through consciously observing and reflecting on situations that may be unproductive. A few examples may illustrate this. Sam’s alarm jolted him out of bed, and he looked over at the clock which read 5am. Before his first yawn, he reached for his iPhone - 20 emails. His eyes were still
Imagine Six | Autumn - Winter 2012
Geoff Edwards
trying to focus as he did his best to discern the text in the messages. A few comments from yesterday’s post, today’s best online deal, Amazon’s mp3 albums of the week… After he scanned his email, he saw notifications from Twitter and Facebook. He checked those and began to scroll through the information streams to see what he had missed in the 6 hours since he fell asleep. He rolled out of bed and plopped in his computer chair. His browser was already open with Google Reader in a tab. It seemed to be waiting there patiently for him to return. He refreshed the page and began to look through 500 unread updates. He wasn’t even properly awake yet, let alone having a chance to brush his teeth! (Tony Alicea, “How I am Fighting Information Overload” 16th August, 2011) The consequences of continuing this approach are a reduction in our quality of life and also, placing ourselves always under constant “high alert” and the stress that goes with it. In the workplace, how many times do you notice people checking through emails or text messages on their smart phones? In recent discussions with clients, it has become apparent that while we all experience things differently, there are many situations occurring where important messages are being overlooked. Today we see how technology and marketing efforts have combined to produce an excellent approach to the delivery of messages for all types of products and services. The end result however, is that all of us receive an ever increasing number of messages from many sources. And, because we can only focus on a few things at any given time however, our brain operates in delete mode and we only see the first sentence or, the product with the brightest colour, or the service with the most appealing message. This applies to many situations, for example, email messages in the business world. Clients indicate the need to repeat sending messages a number of times as the recipient has only read the first line. In other situations, we are sometimes overlooked by a friend in a crowd or, even nearby, due to pre-occupation in our mind with so many other things. We need to increase our awareness about when we could be operating in delete mode due to the overload of messages, as we may be missing an important event, or relationship opportunity in our life. While I support social media and technology, I’m convinced that we should be leveraging all the potential technology tools at our disposal to create collaborative environments
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where people can contribute to something worthwhile and perform at a higher level. I’m not a fan of how technology seems to dumb-down our collective ability to focus on the things that are really important.
Why we Delete things
Day in and day out our minds are distracted by what we see in the world around us, read in the paper, books, magazines, and what we watch on television. ‘A man is according to his mind’. All of our experiences in the world are mental and where our attention goes our mind goes. When we watch too much trashy TV, our mind becomes clouded. Whatever we read, watch on TV, or see in the world we internalize and it becomes a part of our reality. Some of us are more impressionable than others, but we are all affected on some level. We DELETE information because our brain is overloaded from our experiences . People can get easily overwhelmed and therefore not “see” the clear choices right in front of them. All types of information may be filtered out in their life and therefore they miss golden opportunities right in front of them. People may rely on information from others to make a decision because they have learned NOT to trust their instincts because of mixed messages they received. This can prevent people from moving ahead and they can get stuck and prevent themselves from moving out of their comfort zone. There’s really no simple answer to that (except turn off the TV and the computer and go read a book, fly a kite, take a walk, etc.). I think ideally, we need to stop focusing on getting so much information, so quickly. It’s okay to miss some things. It’s okay not to put up a post about every breaking story as soon as it happens. It’s okay not to tweet everything you see or do. It’s okay not to have 5,000 friends. I think that instead of designing services that help us create more and more micro content, we should be trying to create and promote services that help us to filter the best of the more intelligent, thoughtful fare.
What is your life about?
Give yourself some time and space to get away from the expectations, the conversations, the noise, the media and the pressure. Take some time each day to go for a long walk and think. Plant yourself on a park bench and look at the beauty around you. Take a long thoughtful road trip. Whatever
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Health
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice - they somehow already know what you truly want to become. And most important, have the courage to follow your heart and intuition, everything else is secondary.” Steve Jobs
you do, move away from anything that distracts you from contemplating your life and where you want it to go. In solitude, you should feel independent and self – sufficient, not lonely, needy or afraid. If the banter of co-workers, parents, friends, or strangers is getting you down, solitude can restore your sense of balance and inner calm, reminding you that you have a trajectory in life mapped out and that you’re marching to it, not to the worries, fears and hearsay of other people. Ensure at this time that you are in the present moment, rather than the past or looking too much in the future. Remember that you can’t drive your life forward if you are always gazing through your rear-view mirror! Creating change in your life, is an opportunity for further discovery about who and what you are meant to become and how you can contribute i.e. your life purpose. It is important to learn to know yourself and begin answering the big questions of life i.e. what inspires you, why you are here and what you are supposed to experience, learn and get out of this lifetime. So, take out a few sheets of loose paper, or a journal and a pen and find a quiet place where
you will not be interrupted. Turn off your mobile phone, your computer and consider the following:- what makes you feel great about yourself, what are your goals, who inspires you most? Also, start and notice your thoughts, feelings and emotions. At least once a day, for at least 5-10 minutes, practice awareness of your experience. “Watch” whatever thoughts, feelings, evaluations, memories, sensations etc., come up without trying to influence what comes up. When you start looking “from” your thoughts or looking “in” your thoughts, bring your attention back to watching your thoughts. Let your thoughts etc., come and go as they please. Accept all parts of your experience. However, don’t take the content of your mind seriously – your sense of self does not depend on the content of your mind. You are not your mind as there is a deeper inner place where your true self resides. By distancing yourself from your thoughts, your mind will experience peace, your ego loses its power over you, which means that you become free from futile thinking, worries, and restless thinking. Awareness goes beyond thinking. At such times, the spirit within you, the real you, is not hindered by your mind, your thoughts and your desires. New perspectives will arise in line with your true self.
Listen more, speak less. Abraham Lincoln said, “It is better to remain silent and be thought a fool than to open one’s mouth and remove all doubt.” Use a note book. A note book allows me to stay in the meeting, focus on the presentation or discussion and still capture any notes or thoughts I’ll want to refer back to later. Live in the present moment. If you’re in a conversation, be in the conversation. Don’t let distractions pull you away from what’s happening right now. The email will still be there when the meeting’s over. Never meet just to meet. if you are responsible for a regularly scheduled meeting and there is no real reason to meet, cancel it until you have a real agenda. Have timeout. Reflect on your last holiday experience or time away and what you discovered, how you felt. Now is the time to add to and enhance your life experience. Simplify your life. Take notice of all the things you did in the previous week and decide if you can achieve an even better outcome in a simpler way.
Imagine @ www.geoffedwards.net
Tips for Change Technology and relationships. Technology is intended to enhance our ability to collaborate, not replace the need for personal interaction. Leadership requires making a personal connection with people. Technology can’t do that.
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Geoff Edwards is an Internationally accredited Life Coach with over 25 years of coaching experience who can support you on your journey to success with results that last.
Imagine Six | Autumn - Winter 2012
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BEAUTY
winter proof Protect your skin and hair against the change of seasons with this battalion of new-generation products that calm, soothe, heal and restore.
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2.
4.
5.
1. Environ
4. Palmer’s Cocoa Butter
2. Inspa Rescue Serum
5. Dr Spiller
Blending Vitamins C and E, the Environ range of products include an Intensive Super Moisturiser, a special moisturising cream formulated to help relieve dry skin conditions and is ideal for dehydrated, dry and sensitive skin. www.environskincare.net.au
Palmer’s Cocoa Butter has been refined and lightened to create the Face Care range. The new products remain light and nongreasy but with all the goodness of Cocoa Butter Formula. The new additions are packed with innovative elements and natural ingredients. www.palmersaustralia.com
When skin is red and aggravated, Inspa Rescue Serum is a creamy soothing salve to calm and comfort with German Chamomile and Azulene. German Chamomile is rich in flavonoids for their anti inflammatory benefits and anti oxidants. German Chamomile diffuses free radicals and prevents damage to cells and skin tissue while Azulene is hard at work and known for its amazing ability to neutralise irritations. www.inspa.com.au
Dr Spiller has a sensitive range to suit skin tending to redness. Dr Spiller Aloe Cleansing Gel for Sensitive Skin is a water-soluble foaming emulsion that gently cleanses without drying. Dr Spiller Sensitive Beauty Care Day Cream is a hydrating cream that enables skin to regain its balance. An effective combination of oils from avocado, grape seeds, calendula and arnica helps protect against harmful environmental influences. www.dr-spiller.com.au
3. Jane Iredale’s Lip Drink
6. Skeyndor
Lips dried out from summer? Try jane iredale’s Lip Drink, a colourless lip balm with SPF 15 and broad spectrum sunscreen, Lip Drink also contains green tea extract, Vitamin E and Vitamin C to nourish and enrich the condition of your lips. For something a little more glam, highlight your perfectly hydrated pout with a touch of Just Kissed – a shea butter based tinted lip plumper. Available in five wearable shades from soft matte pink to warm coral and a flattering neutral, Just Kissed contains cool mint, ginger and special peptides to give lips long-lasting moisture and visible plumping that lasts. www.margifox.com.au
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3.
Skeyndor Skin Velours Ceramides, the staple of make-up artists, is a lush yet light serum-which replenishes the ceramides between the cells making it a ‘must have’ for intensely dehydrated types and for those skins that have experienced several peels. www.vogueimage.com.au
Imagine Six | Autumn - Winter 2012
BEAUTY
Imagine
beauty within We have all heard the phrase: “Beauty is skin deep”, and been chastised by our elders for valuing looks over kindness. The Body Shop is living its ethos of “Beauty With Heart” and supported by the very lovely model, Lily Cole, the global icon brand is launching its new beauty movement “to inspire individuals everywhere and transform the boundaries of beauty”.
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ccording to its Brand Ambassador and UK “It Girl”, Cole, “Beauty With Heart” places emphasis on a beauty experience that is more than skin-deep, putting a human stamp on beauty and empowering people the world over to “Look Good, Feel Good And Do Good”. Beauty With Heart will spring to life through a new store experience called Pulse. Sophie Gasperment, Executive Chairman, The Body Shop said at the London launch 22 March: “We know that our Brand delivers more than beauty; our products truly contain heart as well. Today, we’re looking to a future where our vision of beauty can be experienced by new generations for whom it is all about looking good, feeling good and doing good, too.” The Body Shop became one of the world’s first ethical businesses when it opened its first store in 1976 in Brighton, UK. Its charismatic founder, Dame Anita Roddick, who died in 2007, was a campaigner for green issues decades before they became mainstream.
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In March 2006, The Body Shop agreed to a £652.3 million takeover by cosmetics giant, L’Oreal. It was reported at the time that Anita and her husband, Gordon Roddick made £130 million from the sale. Following her death in 2007, British Prime Minister Gordon Brown paid tribute to Dame Anita, calling her “one of the country's true pioneers” and an “inspiration” to businesswomen the world over for her entrepreneurial skills combined with her fiercely ethical approach to sustainable cosmetics, empowering and funding third world communities under the banner “Trade Not Aid”. Today, in its fourth decade, The Body Shop is reclaiming its brand values, reiterating its commitments to beauty with ethics and demonstrating to its 275 million customers at its 2,700 stores in 63 countries worldwide that it practises what it preaches. Beauty With Heart rolls out in the UK from 3 May, with global roll out to follow from 15 May onwards.
Imagine @ www.thebodyshop.com
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Travel
london calling In only a matter of months, TVs will be switched on, radios will be tuned in, laptops, tablets and phones will be charged and the world will hone in on London as this ancient city hosts the 2012 Olympic Games.
By Lexie Jeuniewic
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used for later purposes, while those that couldn't be utilised in the future would be built as temporary structures. Proving that they are not all talk, all London’s proposed Olympic venues were built in record time (most of the structures were finished mid last year). Of the new venues built, one of the most exciting is, without a question, Olympic Park. Located in Stratford, a town 10kms from London’s city centre. Olympic Park’s development involved quite a clean-up; 2 million tonnes of soil had to be decontaminated and over 300,000 water plants and native trees were planted as part of its transformation. If the discussion of a greener and cleaner London has you feeling compelled to jump on a plane and get in on the games action, remember that there is,
along with the endless sporting events and Australian flag waving, a lot to do if you are lucky enough to visit the effervescent city. If it's your first time to London, or if you've still got a bad case of Royal fever after The Wedding last year, make sure to allocate some time in your schedule to pay the Queen a visit at Buckingham palace. Tours of the Queen's humble abode are conducted throughout the northern hemisphere's summer (June/July period) and it is best to pre-book tickets online to avoid the big queues.For an alternative royal experience that won't cost you a pound (but might involve an early start to get the best spot), the iconic Changing of The Guard at 11.15am begins in January and runs through to March. After getting an eyeful of royal life,
Imagine Six | Autumn - Winter 2012
Images: Visit London Images. www.visitlondonimages.com
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he third games for the vibrant city (their first Olympics were held in 1908 and later in 1948), London has experience in the field of hosting and has certainly stepped up to the challenge of creating a more sustainable games. As part of their winning bid for the Olympics, London proposed that instead of creating entirely new buildings for sporting events, they would utilise both existing and historical venues in addition to some new venues. In keeping with the forward-thinking green theme, it was also proposed that any new structures created would be ones that could be
London
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Travel
it might be time to take a peek at London life; with a view from the top. Undoubtedly one of the most iconic viewing platforms in London, if not the world, is the London Eye: a giant Ferris wheel that sits on the bank of River Thames. With panoramic views of the city in all its glory, it's no wonder this attraction is the most popular in Great Britain. Another exciting viewing platform that is set to rival the famous London Eye, and will undoubtedly amaze all its new visitors, is that of The Shard. Although the London Bridge Quarter skyscraper’s Observatory doesn’t open until February 2013, this 95 floor architectural delight will be worth the wait; it promises visitors incredible 40 mile views across the city. Now, if looking down on the bustling city has you feeling as though you are missing out on the action below, take some time to get back down to sea-level and begin exploring some of the incredible museums, markets and restaurants the city has to offer. Whether it be classical or modern art, at least one of the two Tate galleries located in London is bound to impress. The Tate Britain, known as ‘the home of British art from 1500 to present day’, will give you an in depth insight into both historical, and modern artworks. An exciting up and coming display at the Tate Britain, if you happen to be in London in the July period, is the ‘Another London’ exhibition; 64
a collection of 150 photos taken by prominent photographers, such as Bill Brandt and Robert Frank, that shows each ones perception of the cosmopolitan city. For an entirely modern focus on art, The Tate Modern is definitely worth a look. Housing an impressive collection of international artists, such as Salvatore Dali and Andy Warhol, the Tate Modern always has exciting new exhibitions alongside permanent ones. London’s unique character is apparent after visiting these galleries, and also becomes clear after looking at some of the city’s street style. From boys with blue hair wearing fur jackets to high heel clad girls toting the latest ‘It’ bag, London fashion has become renowned for its mix of the eccentric and elegant. To snap up a few unique buys which will, on your return home, have people asking ‘Where did you get that?’ be sure to check out the markets in London. One of the best antique markets in the world, The Portobello Road market is the place to go if you are looking for some vintage buys; delicious custard tarts from Lisboa Patisserie and mouth-watering cupcakes at the Hummingbird Bakery are also worth the trip. If you decide to venture on down to Portobello Road, remember to have cash on hand (the queues at the ATM are often enormous) and, to avoid masses of people, arrive either earlier in the morning (about 10am) or later in the afternoon (around 4-5pm). After a full day rummaging through pile
Imagine Six | Autumn - Winter 2012
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after pile of vintage dresses and assorted antiques, you might start to feel a little peckish but, fear not, London has plenty of delicious delights on offer. To get a taste of traditional English fare in a cosy and warm environment, be sure to check out The Harwood Arms; a so called ‘gastropub’ with scrumptious offerings including that of Scotch eggs, boiled saltbeef and Yorkshire curd tart. If pub grub isn’t really your thing, or if it is and you are willing to go a little more formal for an evening, a must try (if you can get a booking) is Heston Blumenthal’s The Fat Duck. Awarded 3 Michelin Stars and voted both The Best Restaurant in the UK and the Best Restaurant in the World on a number of occasions, The Fat Duck promises to give you a culinary experience of a lifetime, thrilling the senses of smell, touch and taste through dishes such as Salmon Poached in Liquorice Jelly and Taffety Tart. Eating, shopping, sights and Olympic events aside, venturing to London from 2012 onwards will undeniably be an experience of a lifetime no matter where you venture and what you choose to do; the city is yours explore and enjoy.
Imagine @ www.visitlondon.com w w w.imagineyourlifestyle.com.au
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Travel
Sublime Sofitel The Sofitel Gold Coast Broadbeach exudes five-star luxury and sophistication combined with decadent comfort and state of the art technology.
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dyllically positioned in the centre of thriving Broadbeach, only 200m from the beach, beachside parks and Broadbeach’s array of boutiques, cafes and restaurants, Sofitel Gold Coast Broadbeach is simply magnifique for business or leisure travel. The Hotel features access by monorail to Jupiters Casino and is just a short stroll to the Gold Coast Convention Centre. It boasts 296 impeccably appointed guest rooms, including four executive suites and 17 luxury ocean spa rooms. All offer breathtaking Pacific Ocean or hinterland views and exude comfort with contemporary furnishings, stunning 66
Imagine @ www.sofitelgoldcoast.c marble bathrooms, private balconies, LCD televisions and movie channels with high-speed internet connection. Hotel facilities include the chic and award-winning lounge/bar/dining concept - Room81 and all-day dining restaurant, Bistro On3 located on the hotel's pool deck level. With two magnificent outdoor swimming pools - one heated to a glorious 24 degrees, spa and relaxation area set overlooking the entire Coastal region, guests are certainly spoilt for choice. Throughout the year, Sofitel Broadbeach is the epicentre for cultural events, soirees for charity and fashion, wedding expos, Winter in July and of course, festive Christmas and New Year’s celebrations with all the chic
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accoutrements for which the French are famous. Sofitel is the only French luxury hotel brand with a presence on five continents with 130 addresses, in almost 40 countries (more than 30 000 rooms). Sofitel offers contemporary hotels and resorts adapted to today’s more demanding and more versatile consumers who expect and appreciate beauty, quality and excellence. Whether situated in the heart of a major city like Paris, London, New York or Beijing, or nestled away in a country landscape in Morocco, Egypt, Fiji Islands or Thailand, each Sofitel property offers a genuine experience of the French “art de vivre”.
Imagine Six | Autumn - Winter 2012
COMPETITION
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Gold Coast Family Fun Favourites
Now there are even more reasons to head to Australia’s favourite theme park for your next holiday.
WIN 3 nights at Sea World Resort & Water Park PLUS 4 Super Passes.
Imagine readers have the chance to win Sea World and Sea World Resort & Water au 3 nights at Sea World Resort & Water Imagine @ MyFun.com. Park have amped up the family fun with all Park where the winners can join your Nickelodeon friends and some mind-blowing entertainment, everyone’s favourite sponge and his nautical friends and water play! Gold Coast Family Fun Favourites. in your own aquatic adventure at the amazing new SpongeBob SplashBash, and dance and delight Dive into Sea World and be transported to the wonderful at the spectacular musical water fountain with a underwater world of Bikini Bottom for the ‘SpongeBob stunning LED light show nightly. PLUS they’ll ParadePants-tacular’. Bikini Bottom comes to life right before receive Super Passes for unlimited fun at the Gold your eyes with extravagant floats, stunning water displays and Coast’s Super Parks Warner Bros. Movie World, Sea spectacular thematic boats in the world’s first SpongeBob parade! World and Wet’n’Wild Water World. Then there’s the amazing ‘SpongeBob SplashBash’, bright To enter: Simply tell us what would be the and colourful water-play areas themed around SpongeBob best part of experiencing the new Nickelodeon SquarePants, Patrick, and Squidward, plus a few jellyfish of course. attractions and meeting friends like Dora, Boots, There are hours of good times waiting, including a soaking from SpongeBob and Patrick at Sea World. Send your a giant spray bucket. Plus dance and delight at the spectacular name, address and contact details with your musical water fountain with a stunning LED light show nightly. answer (300 words maximum) to: competitions@ Kids can meet SpongeBob, Dora and their friends in the Resort imagineyourlifestyle.com.au with SEA WORLD lobby. Plus, visit the Resort’s newly upgraded Kids’ Club with NICKELODEON in the subject line. Winners will be notified by email at the end of June. specially designed Nickelodeon activities and programs that the kids will love. So for your next family fun adventure, book a Nickelodeon holiday experience and stay, play and splash at the award-winning Sea World Resort & Water Park. Tel: 1800 074 448.
Terms and Conditions. The prize package is for two (2) adults and two (2) children aged 3 – 13 years inclusive and includes – 3 night’s accommodation staying in a Resort Room at Sea World Resort & Water Park including a Dolphin Discovery presentation on one morning of the Resort stay. Super Passes for unlimited entry to Warner Bros. Movie World, Sea World and Wet’n’Wild Water World until 30 June 2012. Should the winner wish to travel after this date and within the prize validity a comparable ticket will be issued. Prize is for 12 months from draw date. Meals, transport and other incidentals are not included except where specifically stated. The prize is not transferable or redeemable for cash and all components of the prize must be taken together. If the winner is under 18 years the prize may at the absolute discretion of the Promoter be awarded to the winner’s parent or guardian. No extension of the validity date of this prize will be permitted. The promoter reserves the right to announce or publish the winner’s name and/or photograph for publicity purposes. The Promoter shall not be liable for any loss or damage suffered (including but not limited to indirect or consequential loss) or for any personal injury suffered or sustained as a result of the prize except for liability that cannot be excluded by law. Winners are responsible for their own travel insurance.
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David Pocock
field of vision Australian Wallaby and Western Force flanker and its Captain, author and charity worker, David Pocock, just 23 years old, now has his face on a commemorative postage stamp, recognition for both his performance over 40 tests and his tireless charity work.
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e was 2011 Western Australia’s Young Australian of the Year, again for his rugby prowess and his commitment to the charity he founded, EightyTwenty Vision. The star loose forward is an inaugural Western Force player who made his Super Rugby debut as a teenager and quickly established himself as a vital member of the West Australian side. He progressed to international ranks in 2008 and won the 2010 John Eales Medal as the best performing Wallaby. In the past two years he has been amongst elite company as a nominee for the International Rugby Board ‘Player of the Year’. He is generally considered in line to become Captain of the Wallabies and most advocates of the game believe it’s just a matter of time, which at 23, he still has plenty of. In a short period of time, this outstanding up and coming
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sportsman has not only made an immense impact on the rugby field but his humanitarian efforts have brought hope to disadvantaged communities in his native Zimbabwe. In 2009 David established the charity, EightyTwenty Vision alongside close friend Luke O’Keefe. He has worked tirelessly to raise funds for projects focussing on health care for HIV and AIDS sufferers, education for children, food and water security, and human rights. He is also active at the coalface and regularly travels to Africa to assist in projects and ensure they’re delivering real outcomes. Dave grew up in Zimbabwe, moving to Australia with his family when he was 14. Eightytwenty Vision works with the people of Nkayi, Zimbabwe, helping the community to increase their capacity to sustain themselves and their communities. Growing up in “Zim” as he refers to his country of birth “was not without its challenges”, says David, but “has been one of the major things that has shaped how I view the world”. “I obviously had a pretty charmed childhood growing up on a farm with two brothers for playmates and friends. We were allowed to do so many things from driving cars and motor bikes to hunting and making traps to hours of kick, receive in the back garden. “Zimbabwe has such a diversity of flora and fauna and as a child I was definitely taught to appreciate and understand these things. As an adult this has stayed with me. I am very passionate about wildlife conservation and environmental protection
Imagine Six | Autumn - Winter 2012
David Pocock
because of this early understanding of the synergy of our planet.” Living in Zim, Dave experienced the very obvious disparity between the way his family lived and others in their community. “That difference was especially highlighted when we moved to Australia. Understanding that while farms had been taken from the white farmers they hadn’t been given to the black farm workers who knew how to run them and who could have so benefitted from being given that opportunity - instead they were given to Mugabe’s political and military allies. This meant that the cycle of poverty was perpetuated and actually worsened. Being born white in Zimbabwe meant that we were able to leave when things turned bad in Zim. It meant we had the opportunity (because of our finances) to come to Australia. Many of the children I grew up with did not have that same opportunity and, being from the Ndbeli people group, they were almost guaranteed a life of struggle.” Dave sees the work of Eightytwenty Vision as an opportunity to help bring about sustainable and long lasting change, restoring the dignity of people and allowing them to live lives that reflect a hopeful future. “We believe that a sustainable future is achieved by providing people with the skills necessary to empower themselves and in the future begin to empower other communities. We also understand that such a sustainable future begins with the generosity of others. It is generosity that helps to restore the dignity that is so often lost in times of poverty. “The role of Eightytwenty as one of upskilling – endeavouring to enable the community to sustain themselves in the long term. Eightytwenty Vision, for me, is about opening our eyes to see how other people are living, realising that the majority of the world face a very bleak reality, and then look for ways to partner with them to bring change.” Using his profile as an elite athlete has
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allowed Dave the platform to broadcast his beliefs and promote his cause, but those efforts have sometimes provoked detractors. “I have had people suggest that we need to take care of our own backyard first and I would agree that there are a lot of problems in Australia which need attention, particularly in terms of the treatment of Indigenous people and migrants. “In Australia there are systems in place that are meant to provide protection and assistance to people who need it. In Zimbabwe these same systems do not exist. The government and military which are meant to protect people have frequently been used to harm them. And the basic needs of survival are often unmet. This is why I’m willing to not only work hard for the people of Zimbabwe but also lend my profile to their cause.” Dave’s sense of philanthropy goes deeper than charity. “I feel it’s my responsibility to use my privilege to help those who do not happen to be born into the same kind of family, class, race as I was. It would be easy just to say that rich and poor countries exist and that’s the way it is and that all we can do is try to alleviate some of the suffering. But I firmly
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believe that we, in the developed ‘West’, perpetuate a cycle that necessitates other countries experiencing such high levels of poverty. It is this very system we need to reconsider. “I’ve read so many studies about how ‘unhappy’ the developed world is - which is in stark contrast to my recent visits with the community in Nkayi - who seem to be bursting with joy despite their obvious poverty. While I am always cautious about suggesting people get involved in aid and development work for their own sense of satisfaction I would readily suggest that a great motivator would be honouring your internal sense of injustice about the world by using some of your wealth to help others in need - this isn’t to make yourself feel better but rather to hold fast to your own integrity. “In Australia we are perfectly placed to make a tangible difference through our contribution.”
Imagine @ www.eightytwentyvisio
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Motoring
Imagine Six | Autumn - Winter 2012
AUDI
Imagine
audi
the rising star of the luxury market German luxury car brands have always been the preferred choice for the discerning buyer and the upwardly mobile providing a mix of superb engineering, safety, design and ergonomics, performance and handling and the sort of status that makes others take notice.
Story Jon Thomson
E
ven older German luxury cars around a decade old attract a reverence and respect that is probably well ahead of what they should command. Until a decade or so ago it was a battle between BMW and Mercedes Benz for the hearts and minds of prestige buyers and despite the arrival of Lexus from Japan it is still the German brands that make the cars with the greatest aspirational attraction. The alarming factor for Benz and BMW is the rise of their German upstart cousin, Audi. Audi was purchased by VW in the early 1960s when Benz was forced to off load the company then known as Auto Union because German government authorities thought Benz would have too much market power. VW spent many years plotting a course for Audi as its luxury brand and in some beautifully clever thinking they have created a marque that commands the same sort of attention and cache as Benz and BMW.
It has company come an awfully long way from the early 1970s when the Audi Fox was a rebadged VW Passat with about as much luxury cred as a Berlin tram. In the 1980s VW really differentiated Audi from the rest of the VW range but cleverly used many shared platforms across the VW range and even with the other marques under the VW umbrella such as Skoda and Seat. Like everything German technology is the key and Audi is no exception to this. The company’s slogan or tagline is Vorsprung Durch Technik, meaning “Progress through Technology” and boy have they made some progress! While Audi execs don’t like to admit it the baby of the family the Audi A1 shares many of its underpinnings with the VW Polo, the A3 with the VW Golf, the A4, 5 and 6 with the Passat and so on. The Germans have take the concept of sharing a small number of platforms across several very differently positioned marque to a new level and turned it into an art form. Imagine had the pleasure of sampling a range of recent Audi offerings over the last few months driving the brilliant A1 super mini, the A6 saloon, the A7 sportback 71
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Motoring
and the terrific Q5 mid-size SUV. Starting at the bottom, this writer was mightily impressed with the A1 particularly given the cars it is up against. Compared with the car that is called the Mini, the A1 is a super mini. While driving the A1 it made me feel that perhaps this had the size, feel, performance and charisma that was expected from BMW’s new age iteration of the Mini. Instead Bimmer gave us a steroidal impression of the original and Audi has given us a trim, taut and terrific little car that better deserves the name. However it is an Audi and it is a fantastic little machine. The sporty turbo and supercharged 1.4litre TFSI engine produces 90 kW and powers the Audi A1 up to 203 km/h, with 200 Nm of torque at 1,500 rpm making it a beautifully flexible little car in city traffic or on the open road. The Audi A1 TFSI Sport with 136 kW, sprints from a standstill to 100 km/h in 6.9 seconds and keeps accelerating up to 227 km/h. The responsiveness of the more highly tuned Sport model especially with its muscular 250 Nm of torque is incredibly smooth, fast and truly exhilarating to drive. The top A1 model 1.4 TFSI engine consumes just 5.9 litres of fuel per 100 km on average and emits just 139 grams of CO2 per km, salving your environmental concerns while remaining a fantastically fun car to drive. 72
The seven-speed dual-clutch S tronic Audi automated manual gearbox delivers lightning fast shifts and can be controlled by either the optional shift paddles, the gear stick or just left in automatic mode. This double clutch system has some quirks but once used to them they are terrific and rewarding to drive. Moving on up the A6 is Audi’s mid size saloon aimed at the BMW 5 Series and Benz E class, perfect for the upper level management types that want a classy way to display their status without ostentatious overkill. It’s not surprising that every second Audi currently sold on the planet these days has a a diesel engine under the bonnet because the German maker has an array of oil burning power plants that belie the long held misconceptions about diesel. Diesel powered Audis have dominated the Le Mans 24 Hour race for the last half decade or more and it was the first manufacturer to win that race with a diesel powered sports racer. It is this technology that makes the three litre TDi powered A6 sedan such an enjoyable car to steer. This engine develops an extremely handy 180 kW and will accelerate the A6 sedan from 0 to 100 km/h in 6.1 seconds thanks largely to its ample 500 Nm of torque. It certainly is no truck and as well as impressive acceleration and performance it is very economical with fuel consumption of just six-litres on the combined cycle.
Imagine Six | Autumn - Winter 2012
AUDI
The A6 features a wide range of technical innovations, including a clever system that combines with the car’s ESP stability program to keep you out of trouble and mitigate things when you are in a sticky situation. It is a lovely smooth and comfortable cruiser that can both lope along on the motorway or provide a quiet and relaxed sanctuary to edge through the morning bumper to bumper traffic. The A7 was the next Audi that Imagine was able to slide behind the wheel of and there is a lot to like about this five door executive fastback. Although many believe it has a lineage to the big Audi A8, the A7 is in fact based on the A6. It is similar in concept but much better in execution than its rival from BMW the 535 GT. While the 535 looks cumbersome and is actually based on BM’s big car the 7 Series the A7 is elegant sleek and a real head turner. The A7 Sportback three-litre TDI quattro model features the same V6 diesel as the A6 or as an alternative the three-litre TFSI quattro gets a 220kW/440Nm petrol engine capable of 0-100km/h in 5.6 seconds. Despite the enhanced performance,
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fuel consumption is still impressive for a big car at 8.2 litres/100km while pumping out 180kW of power and 500Nm of torque. The A7 is a superbly elegant and impressive executive express and one, which will capture attention whether that be the doorman at the ritzy hotel or the hard to impress neighbour. Audi has certainly come a long way in the last couple of decades and has been taking sales from both of its more established rivals. Audi sales have risen by almost 4000 in Australia over the past four years despite the GFC while Benz and BMW have remained fairly static. It is little wonder there is a freshness and elegance to the Audi range that makes it very attractive to the prestige buyer and some clever engineering and design makes them enjoyable and rewarding to drive and Imagine will bring you some more of the amazing acts from this four ringed entertainer in future issues.
Imagine @ www.audi.com.au
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Bookend:
Shelley Craft
A favourite face for four years as host of Nine’s Funniest Home Videos, Shelley Craft is the golden girl of TV and proudly Brisbane born and raised. She has also shone on our small screen on Domestic Blitz, Dancing with the Stars and the latest series of The Block with Scott Cam. No stranger to hard work, Shelley has four jobs on the go and is mum to Milla, with another on the way! What did you always want to be or do when you “grew up”? I always wanted to be an actress or a ski instructor. It was and still is all about lifestyle for me. At school, what were your main interests and main areas of excelling? My main subject interests were Ancient history, Biology, PE and of course Drama. Did I excel at any of these? Hmm, Perhaps I should say my main interest at school was socializing and in class debates. How did this industry first open for you? I approached Channel 7 in Brisbane in ’94 and asked for the opportunity to do work experience – anything. I was willing to work for free and sweep floors or photocopy scripts – anything! Back then, it was a lot easier to get opportunities like that. I was
offered a position as a producer’s assistant at the end of my week and the rest is history. Who was most influential in your early years? I would have to say that my really early years were influenced by Liz Hayes when she was the host of the Today Show and I am still in awe of her now. Also, Kerri-Anne of course – so perhaps acting was never going to be my calling – presenting was. What was your first ‘job’ for money? I had two jobs at high school. I started working at McDonald’s the day I turn 14 and 7 months and I also had a job at a ski shop in Brisbane city. How did you view working? I love working. I still have four jobs to this day and I am a mum. It is a passion and I gain great satisfaction from putting in a day’s work. McDonald’s was an amazing training for me and I still hold their QSCV (Quality, Service, Cleanliness and Value) motto close to my heart. Perhaps leave out the cleanliness clause when it comes to work on The BLOCK! What did you spend your first pay on? I think it went straight back into the Macca’s till. Or I spent it on Shoes. I haven’t really changed much. What did you learn from your father and mother about work ethic and your attitude to saving/ spending? My dad is a very hard worker and has the “Just Do It” attitude. Give everything a go and give it your best at all times. My mother was a stay at home mum and raised four children. When my little brother finished high school, mum headed back into the workforce and I was so proud of her for taking such an enormous and daunting step. 30 years out of the workforce and to head back in – brave and determined lady. My parents gifted me a wonderful education that gave me the belief that I could do and achieve anything I wanted from life. I think we had quite a unique spending/saving idea in my family. We were given pocket money
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for the month and it was to cover whatever we thought we needed. So I suppose we were being taught to budget from the beginning. Perhaps that is why I still work four jobs to this day… there is never enough to last until the end of the month. As you’ve matured, has your attitude changed towards money? I certainly appreciate the work it takes to earn good money. I understand that sometimes the good things have to wait. I do not layby and I do not use credit. If I can’t afford it then and there, I don’t get it. I see investing in property as my future income. I have several investment properties and love the bricks and mortar aspect. Have you had professional financial advice over the years? Yes, I have a financial adviser and an accountant. It is so important to have the right advice and people on your team. Your future comfort is not something to be left for a later date. Do something now and you will be ready for your future. Do you have a portfolio of investments/trauma cover/life insurance? I have all the insurance covers possible. I want financial security for my children but I will certainly be making them all get jobs when they are teenagers. What were the most important financial lessons you’ve learnt over the years? Buy only the car your ego can afford and sometimes you have to spend it to make it. What about money and family – what do you want to pass on to your kids about working and earning money? There is no quick or easy way to make good money. Work hard, put in the effort and you will be rewarded for that.
Imagine @ www.theblock.com.au Imagine Six | Autumn - Winter 2012
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