FINANCE focus

with Robert Goudie CFP GradDipFP Consortium Private Wealth

deposits of different terms and interest rates – for example, you can invest $15,000 in a six-month term deposit earning one percent a year and $5000 in a 12-month term deposit earning 1.50 percent a year. Term deposits are also eligible for the government’s Financial Claims Scheme.

However, in terms of downsides, if you want to access your money before the term finishes, you might be required to notify your bank at least 31 days prior, except under special circumstances.

If interest rates increase, you cannot benefit as your money is already locked away at a fixed rate.

Banks usually have a minimum balance requirement for a term deposit of between $1000 to $5000. It might be a considerable risk if you do not want to lock away that much of your savings or have just started your savings journey.

Banks usually do not charge any fee on a term deposit. However, if you want early access to your money, there might be an early withdrawal fee and loss of interest for the remaining term.

Interest earned on a term deposit is treated as investment income and taxed at your marginal tax rate.

So which is better for your needs? Interest rates, accessibility of funds, and fees are key factors to consider. If you want a guaranteed income, term deposits are the way to go. However, if you want easy access to your money, use a savings account. Alternatively, you might keep some funds in a savings account for daily expenses or an emergency and invest the rest in a term deposit.

Ultimately, the right decision for you will depend on your budget and financial requirements.

• The information provided in this article is general in nature only and does not constitute personal financial advice.

Brightening city’s laneways

Artists are transforming central Horsham.

Melbourne-based Jack Rowland, with his assistant Yuria Okamura, are painting a new mural on the laneway wall of Cafe Jas in Roberts Avenue – the first of three artworks for central Horsham in coming months.

The project is part of a Horsham Rural City Council ‘off-street laneway network’ project, funded via the State Government’s COVIDSafe Outdoor Activation program. Rowland’s project, a ‘psychadelic forest’ spanning more than 20-metres, will take a number of weeks to complete.

“We’ve taken inspiration from our visits to the Grampians, where we often go and walk around the beautiful eucalyptus forests,” he said.

“We’re creating a large break from the urban sprawl; a bit of nature right in the middle of town.”

Rowland has exhibited his works across Australian and internationally. He is one of three artists the council has commissioned to undertake the work under leading street art company Juddy Roller.

Steve Cross will add a splash of colour to the Roberts Avenue arcade, between the businesses of Gypsy Willow and Imeldas; while Jimmy Dvate will transform the Ward Street-facing wall of Horsham Newsagency in Pynsent Street.

Works are due for completion in late March. The council has utilised COVID funding to help 34 businesses to install permanent outdoor dining infrastructure, shade, shelters and seating.

Community Information Sessions

WIM is hosting pop-in community information sessions during February.

Tuesday, 21 February

♦ 10:00 am – 1:00 pm: Murtoa & District Neighbourhood House

♦ 2:00 pm – 6:00 pm: Jung Hall

Thursday, 23 February

♦ 9:30 am – 2:00 pm: Horsham Plaza

Friday, 24 February

♦ 10:00 am – 2:00 pm: Dooen Hall

WIM proposes to develop the Avonbank mineral sands mine, subject to approvals and finance. WIM expects to release more information shortly, with regards to Public Exhibition details for the Avonbank EES.

Drop in to learn more and to discuss the Avonbank Project with the WIM team.

Speakers at the panel include:

Dr Cathy Tischler, Future Regions Research Centre, Federation University Dr Nikki Vincent, Commissioner for Gender Equality in the Public Sector Onella Cooray, Program Associate, Champions of Change Coalition Ashlea Edwards, See What You Can Be equality advocate

Date: 1 March 2023, 5.30PM - 7PM

Location: Federation University Auditorium, 298 Baillie St, Horsham

Bookings: Tickets $10 scan the QR code or go to https://events.humanitix.com/international-women-s-day-panel Supper: Light supper provided. For any details please call 5322 4100. Event supported by:

Val Reader; James Ferguson and Cameron Domaschenz; and centre, Nathanial and Evie Gula.

Aussie Made Glyphosate

Friday, March 9, 2023 @ 10.30am

Venue: Onsite – Tarrant Road, Warracknabeal

An opportunity not to be missed – 260.13ha/642.8 acres

Here presents a rare opportunity to purchase land in an extremely tightly held area on the edge of the Wimmera and Mallee districts.

This land comprises approximately 640 acres across 2 paddocks, both set up independently with water meters, tanks and troughs.

Many soil types are present, from black river flats, red rises, rising grey loams and a small area of sandy loams, which have consistently yielded excellent results throughout the vendor’s time of owning the property. This season, the southern paddock has delivered a very attractive Sherri Wheat crop with the use of Clear eld technology. In 2021 it was cropped with a Clear eld Canola variety with variable rate technology used with both Urea and MAP. The previous season saw this paddock grow vetch hay, enabling the subsequent seasons’ crops to thrive and prosper.

The northern paddock possesses an excellent fertiliser history. 2022 saw Clear eld Canola grown with triflualin and propyzamide used as a post emergent, and Clear eld combined with variable rates of urea up to 300kg/ ha and MAP up to 85kg/ha. Sparticus barley was grown in 2021, an excellent wheat crop in 2020 and canola in 2019.

Do not miss