Chamber News. First Clarence Roundtable a success, says Mayor. Chamber Meeting. Dairy Dates: MAY Edition 2015

Transcription

1 MAY Edition 2015 Chamber News First Clarence Roundtable a success, says Mayor Clarence Valley Council has held their first round Table discussion with the feedback being that the night was a success and that discussion held were informing and productive. (please see below a media release issued by council ) THE first Clarence Roundtable discussion on how to make the most of Pacific Highway and second Grafton bridge developments has come up with a number of points that will guide discussions in future meetings. Those include the impact the developments will have on the availability and cost of accommodation, how businesses can capitalise on the opportunities the development will bring, the probable need to adjust business operating hours to meet the changing demands of the construction workforce, how local contractors can get involved, the possibility of some social dislocation through the construction period and a host of other topics. The roundtable was established by the Clarence Valley Council to provide a conduit to discuss the multitude of issues likely to arise from the massive investment in infrastructure. The first meeting was last night and Mayor, Richie Williamson, said he could not have been happier with how it went. Everyone came with a can-do attitude, he said. We had more than 30 people attend and it appeared everyone recognised the opportunities these developments will provide and wanted to make sure those opportunities aren t wasted. There was also recognition that with those opportunities there will be challenges. What was impressive was that people didn t want to deflect those challenges onto someone else. They recognised the challenges and opportunities were there for the whole community to deal with and there was a cooperative mindset. It was very heartening. Cr Williamson said the meeting was largely informal and hoped future meetings would be similar. We don t want to be stifling the cooperation that was evident by imposing too much structure, he said. Dairy Dates: Chamber Meeting Chamber Breakfast Meeting 20 May 2015 Venue: Vines at 139 Address: 139 Fitzroy Street Time: 7.00am for a7.30am Start Sponsor: The Greater Building Society Ordinary Chamber Meeting Venue: - Crowe Horwath Tiime: 5.30pm Date: 27 May 2015 Member s most welcome to attend. Come and join in the discussion on Where we want to take Business in Grafton into the future. The next meeting will be held in June.

2 Law changes bring relief for taxpayers 28/04/2015 New laws have been introduced to offer relief for individuals who have exceeded their non-concessional contributions cap. In the past, individuals could face a punitive tax rate of 47% for exceeding the non-concessional contributions cap. Background Traditionally, non-concessional (e.g., after-tax) contributions that exceed your cap were automatically taxed at 47% (46.5% before 1 July 2014). This punitive tax rate applied irrespective of your own marginal tax rate, and whether you made a genuine mistake. Furthermore, excess contributions tax essentially amounts to double taxation because non-concessional contributions are typically made from after-tax income. Policy wise, these severe tax consequences are intended to ensure that the superannuation concessions (such as the concessional tax rate on fund earnings) are appropriately targeted. Comprehensive accounting, business and financial advice services Crowe Horwath has your business and financial future covered. We focus on providing practical accounting, business and financial advice to deliver the right outcome for you. However simple or complex your needs are, you will receive practical, insightful advice, and with your best interests at heart, we will help protect and improve your business Financial Advice Using our wealth of knowledge in financial markets, coupled with a close relationship to our accounting team, we can tailor individualised strategies to provide opportunities for your portfolio to generate returns in today s volatile marketplace. TIP - The non-concessional contributions cap is $180,000 for the 2015 income year ($150,000 for the 2014 and earlier income years). If you are 64 or less on 1 July, you generally bring forward the next two years worth of contributions if your nonconcessional contributions are more than $150,000 in an income year ($180,000 for the 2015 income year) - conditions apply. Reforming the rules New laws allow individuals a choice to withdraw excess contributions together with 85% of the associated earnings amount. The changes apply to non-concessional contributions for the 2014 and later income years. Under the changes, the implications of electing to withdraw the excess contributions are: excess non-concessional contributions tax will not apply nor are the withdrawn contributions assessable; 85% of a deemed 'associated earnings' amount must also be withdrawn. This is a Government defined earnings rate designed to approximate earnings on the excess contributions whilst they were held in the fund; and 100% of the associated earnings amount is assessable, with a 15% non-refundable tax offset. These amounts are reported on your personal tax return. IMPORTANT-The ATO controls the election process and the withdrawal of excess contributions. You cannot simply withdraw the excess contributions yourself. If you do not elect to withdraw the excess contributions, the following consequences arise: excess contributions tax of 47% (46.5% for ) will arise; no 'associated earnings' income amount must be included in your tax return; and no tax offset on associated earnings can be claimed by you; EXAMPLE-Belinda exceeds her non-concessional contributions cap by $100,000 in the 2015 income year. The ATO assessment shows the excess contributions of $100,000, and associated earnings of $13,814. Generally, Belinda's options will be: Do nothing - Belinda will incur excess non-concessional contributions tax of $47,000 (ie, $100,000 x 47%); or Elect to relea se $111,741 (ie, $100,000 + [85% x $13,814]). Belinda includes $13,814 in her tax return with a non-refundable tax offset of $2, TIP - The ATO expects to issue elections to individuals with excess non-concessional contributions for the 2014 income year over the coming months.

3 Clarence Valley Events Event Date: May Council aims to work with brains of valley business REPRESENTATIVES of the retail, food and hospitality, tourism and primary industries are being sought. to advise the Clarence Valley Council on business and industry matters in the valley. Following a move from Cr Jason Kingsley, the council is establishing the Clarence Business Advisory Committee to find ways of better supporting existing businesses, attracting new business and industry to the area and perhaps partner in promotions. The Clarence Valley chambers of commerce will also be invited to send a representative along to the business advisory committee. Mayor, Richie Williamson, said the advisory committee would provide a platform for enhanced cooperation and communication between the business community and the council. We all want to see Clarence Valley businesses prosper, and this will add to our already substantial list of business support initiatives, he said. Tour de Woodford The Rotary Club of Maclean began The Tour de Woodford in 2008 as a way of bringing the community of the Clarence Valley together in a way that gave not only families and individuals the opportunity to have a great time together, but encourage the more competitive rider to pace themselves against their fellow cyclist on one of two open road course, 25km or 45km. The riders come from across the Valley and beyond, with large groups leaving Grafton, Yamba and Maclean early in the morning for the ride to Brushgrove to support this charity event. No matter which course you are on there are Marshals, support and direction signage along the way, the main thing to remember is that it is an open road event, therefore all road rules apply. Please follow marshal directions and have a safe & wonderful Tour de Woodford. Start/Finish: Brushgrove village (Recreational Triangle) Cost: $25.00 per entrant over the age of 15 years; $5.00 per child under 15 years (all children must be accompanied by a responsible adult) Sign On: 7.30am to collect your bike number (and late entries) Cyclists Away: 9am For further information, visit visit council s customer service centres in Grafton or Maclean, phone David Morrison on or edu@clarence.nsw.gov.au The deadline for expressions of interest is Monday, May 18. 3

4 NSW Business Chamber Dairy of Events WEBINAR: How to renovate your business Wednesday 20 May 2015 Event Code: EVE This webinar is designed for business owners, CEOs and young leaders. The highly informative webinar discusses why every business eventually runs out of gas and what you can do to ensure it doesn t happen to you. It s based on Mike s extensive experience of helping over 30,000 businesses. Please ensure you register with your address before 5pm the day prior to the webinar to ensure you receive the 'join webinar' link. WEBINAR: Getting ready for SuperStream Tuesday 26 May 2015 Event Code: EVE SuperStream applies to all employers making superannuation contributions. introduces a consistent and simplified payments to super. 4 Lower NSW electricity network prices to ease cost pressures on business The NSW Business Chamber, the State s peak business organisation, says the Australian Energy Regulator s (AER) final determination on electricity network prices in New South Wales will ease cost pressures on business and ensure energy providers are operating the networks as efficiently as possible. Electricity prices are a key source of cost pressure for both households and businesses in NSW, with $580 having been added to the average household electricity bill in just five years, said NSW Business Chamber Chief Executive, Stephen Cartwright. The regulator s final determination will provide much-needed relief for businesses across the state. For example, annual electricity bills for small businesses are expected to reduce by approximately 5 per cent for , an average saving for business of around $270. AER s final determination will also provide certainty for businesses, for a significant input cost, over the next four years. We particularly welcome the robust benchmarking of the costs of undertaking similar activities across service providers in the National Electricity Market. AER benchmarking shows that the government-owned electricity networks in the ACT, NSW and QLD have low efficiency scores and that there is scope for efficiency improvements. This follows the release earlier this month of the Senate Environment and Communications References Committee report on Performance and Management of electricity network companies, which identified over-investment in state electricity networks. AER s decision to lower electricity network prices in NSW confirms that the lease of the State s electricity assets will deliver more affordable electricity. It would also unlock funds to invest in essential infrastructure for households and businesses across the state, Mr Cartwright said. See more at: News-Media/Latest-News/Lower-NSW- electricity-network-prices-to-ease- cost#sthash.yzgb7z1e.dpuf

5 Grafton Chamber Executive Members hard at work. This is a photo of our discussions with Bruce Billson, Federal Minister for Small Business, in Ballina two weeks ago. By all accounts it was a productive get together. CHAMBER SERVICES Membership of the Grafton Chamber of Commerce and Industry offers the local business person more than a "club". Your membership provides you and the local community a valuable, professional, not for profit organisation that furthers the Chamber members interests and encourages business and economic growth in the region. Members don't need to attend meetings or events all the time, as members can us with their concerns. For as little as $140 annual membership, or $13 per month you get: The Grafton Chamber supports our members As the elected voice of the business community of Grafton and surrounding areas, we advocate and advise local, state and federal Government and organisations about business activity and concerns. We organise and host many campaigns, activities, regular networking events and invite guest speakers from Government organisations like the ATO, ACCC, WorkCover and other relevant people of organisations of interest to the business person. The Chamber represents business views on issues and advisory committees dealing with local matters including business rates, the proposed Grafton Bridge and the Summerland Way promotion committee. All members receive discounted rates on all Chamber activities, a regular newsletter, updates on matters relevant to their business and access to local information, contracts and networking through their Executive Officer. Our members get FREE alliance membership with the NSW Business Chamber. All Grafton Chamber members receive FREE alliance membership with the NSW Business Chamber. This alliance strengthens the Grafton business voice with State and Federal organisations through its partnership with the NSW Business Chamber, and all Grafton Chamber members can access a range of free and reduced cost services, advice lines, information, events and conferences. If you are already a member of the NSW Business Chamber, you receive a discount on your renewal while a member of our local alliance Chamber. The Grafton Chamber supports the local business community The Grafton Chamber produces a free newsletter for all businesses in our community - just us to be added to the mailing list. We assist many local organisations provide events, including the Spring into Skinner committee, Clarence Valley Business Excellence Awards, Jacaranda Festival, as well as local business, community and charity groups planning events or activities like Christmas events, Grafton Crazy Day and local school work experience placements. We develop with other businesses activities and reports to benefit the whole community like CCTV consultations, Grafton Career Expo, meet the Candidates nights and professional and specialist speakers. All businesses are welcome to attend Chamber events and activities. 5

6 Members Corner: This Months Member is The Harvey family commenced in the watchmaking and jewellery industry almost 500 years ago in England. In 1878 the business was established in Sydney, Australia and in 1920 was moved to Grafton on the north coast of New South Wales. From humble beginnings the business is recognised for its outstanding quality, service and great value. Positioned in the front of Harveys Arcade in Prince Street, the business is owned and managed by Des and Jenny Harvey who are committed to integrity and excellence and believe that Harveys Jewellers customers are the most important people and central to the future of the business, which currently employs approximately 10 people. If you are looking for a career in the jewellery industry please contact us. Harveys Jewellers is a member of the Jewellers Association of Australia and Australian Retailers Association and has been a member of Showcase Jewellers for over 20 years. Showcase Jewellers has over 300 shops within Australia and New Zealand. AWARDS Huisman Bros Inc Rockefeller Centre NY - Hall of Fame for Jewellery Huisman Bros Inc Rockefeller Centre NY Design Awards Winner Designs incorporating the 144, The worlds most brilliant Diamonds Grafton Chamber of Commerce & Industry Address: PO Box 502, Grafton NSW 2460 Phone: FAX: office@graftonchamber.org.au Or You can contact one of the Chambers Executive Committee. EXECUTIVE COMMITTEE Phil Belletty (Vice President Glenn Thompson (Treasurer) Anita Kleyn Corey Bertalli Mark Butler Sandy Stewart Des Harvey NEWSLETTER and WEBSITE ADVERTISING AVAILABLE ONLY TO MEMBERS Banner Ad (19 x 2cm) $ 45 per month 1/8 page (9cm x 6cm) $ 55 per month 1/4 page (19cm x 6cm) $ 95 per month 1/2 page (19cm x 12cm) $165 per month CHAMBER WEBSITE from $55 per month All copy and artwork must be received before the 2nd of the month. Any member interested in advertising in the newsletter or phone the Chamber on

7

8