WELCOME TO OUR NEW NEWSLETTER

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1 ISSUE ONE > JUNE 2013 WELCOME TO OUR NEW NEWSLETTER PARTNERS OUTLOOK Welcome to the band new Patnes Outlook newslette. It s had to believe it s June and anothe end of financial yea is aleady ceeping up. Ou quately newslette will povide you with elevant insight into the issues that affect you. We believe an impotant pat of ou ole is to patne with you to cut though the noise and beak down the issues that will impact on you pesonal situation. This is an exciting time fo us as we ecently ebanded to Patnes Wealth Goup. The new band eflects the uniqueness of ou multisevice offeing and ou philosophy of woking collaboatively to help achieve you financial goals. This month we will celebate ten yeas in business. This is a significant milestone fo us and gave us a good eason to eflect on the changes that have occued. Whilst ou ange of sevices and depth of expetise has inceased geatly I want you to know that we have not lost sight of the need to povide pesonal sevice tailoed to each individual s needs. Ou ebanding eflects that by focusing on the team based appoach chaacteised by the geese flying collaboatively to achieve geate esults. To cap off a busy few months, we e delighted to announce the acquisition of Guild Financial Planning. This acquisition will give us the oppotunity to povide financial planning advice and life insuance solutions to health cae pofessionals acoss Austalia. Befoe you know it, 30 June will be upon us. The end of financial yea pesents an oppotunity fo all of us to get smate with ou finances. Many of the tax-effective stategies available to you need to be in place well befoe the date actually aives. So get stated today and contact you accountant o Patnes financial adviso. We appeciate any feedback and suggested topics you would like us to addess in futue editions. Please submit them to Thank you fo you continued suppot. Chis McMahon CEO, Patnes Wealth Goup Chis is CEO and the founding patne of Patnes Wealth Goup whee he is esponsible fo the stategic diection of the goup, management of Patnes high pefoming investment potfolios and the povision of solutions to complex client poblems. Chis has moe than 25 yeas expeience within the financial sevices secto. His expeience coves Funds Management, Banking, Boking, Life and Geneal Insuance and Academia at some of Austalia s lagest institutions. He speaks egulaly on mattes to do with economics and investment and has been ecognised by the industy fo the quality of his advice. Coe to his appoach is undestanding the ole finance and investing plays in a balanced and happy life A BRAND NEW DAY Patnes Wealth Goup ebanding WE RE CELEBRATING 10 YEARS A decade ago, we asked a simple question: what if? GEESE AND THE GOLDEN EGG The philosophy behind how Patnes Wealth Goup woks BETTER FINANCIAL HEALTH Guild Financial Planning is now pat of Patnes Wealth Goup CAPITAL GAINS TAX PLANNING A lot has changed ove the last five yeas TIPS FOR END OF FINANCIAL YEAR Ae you oganised to impove you tax position? PROPOSED CHANGES TO SUPER Summaies of the key poposed changes SMSF CHECKLIST Time is unning out to eview you supe stategies. DEBT PROTECTION Build you level of debt potection PRE-APPROVED FINANCE Pe-appoved vehicle, plant and equipment finance

2 A BRAND NEW DAY We wee delighted to launch a eband a few months ago including a new appoach and visual identity. The eband ecognises the inceased numbe of sevices that we now offe as we develop a new ange of bespoke solutions to meet the changing client and business demand. Announcing the new band, Patnes Wealth Goup CEO Chis McMahon said the time was ight to adopt a moe steamlined and consistent look and feel acoss the Patnes Wealth Goup. The Beginning. Atist: Ross Wilsmoe. Ou clients know Patnes Wealth Goup as a eliable, tusted povide of compehensive business and financial advisoy sevices. The new band enews ou commitment to shaing ou knowledge and expetise to ceate bette client outcomes. The new band also eflects the uniqueness of ou multisevice offeing and the philosophy of dealing collaboatively with clients and thei othe tusted advises e.g. accountants. The ebanding pogam will oll out in a phased appoach ove the upcoming months including a new website. Watch this space fo moe details! Let us know what you think of the new band, dop us a line at WE RE CELEBRATING 10 YEARS IN BUSINESS! June 2013 epesents a significant milestone at Patnes Wealth Goup as we mak ou tenth annivesay ou fist decade as a company. It was 10 yeas ago that Patnes Wealth Goup began its jouney poviding financial and business advisoy sevices to small and medium sized accounting businesses. Since 2003, we ve helped eveyday Austalians achieve thei lifestyle goals. We ve woked alongside ou efeal patnes accountants and othe tusted advisos to help meet thei client s financial needs. We ve inceased the numbe of sevices we offe and we e developing a new ange of bespoke poducts and sevices to cate fo the changing business and client demand. And along the way, we ve expanded into 4 states and inceased ou ange of sevices with the aim of poviding bette solutions to ou clients and efeal patnes. A decade ago, we asked a simple question: what if? What if we povided financial and business advisoy sevices to small to medium sized accounting businesses? What if we made it easie fo Austalians to access the ight advice to achieve thei lifestyle goals? Patnes Wealth Goup has invested in ou people, ou decision making pocesses, ou efeal patnes and clients to not only build wealth but also the pesonal elationships and tust needed to foste success. We ve accomplished a lot in 10 yeas but we e not nealy done. I cannot wait fo what the next 10 yeas will bing as we lead the chage on innovation and sevice. A special thanks to ou efeal patnes, ou clients, and ou staff. We couldn t have eached this milestone without you. Chis McMahon CEO, Patnes Wealth Goup 2 PARTNERS OUTLOOK

3 WHY GEESE DO MORE THAN LAY GOLDEN EGGS The philosophy behind how Patnes Wealth Goup woks with its clients and efeal patnes is taken fom natue and is a citical pat of ou band and sevice cultue. Patnes Popety Patnes Supeannuation Sevices Patnes Legal Patnes Wealth Goup The new logo incopoates stylised geese and like many geat lessons, it symbolises that flying alone aely achieves the same outcome as when woking as pat of a team. Geese fly in a V fomation o echelon and togethe they: > incease thei capacity to fly 71% futhe than if they wee flying solo > shae thei stengths and otate leadeship oppotunities to ensue the team emains engaged, motivated and skilled Patnes Salay Packaging Patnes Retiement Planning & Investment Advisos Patnes Motgage & Lending Patnes Supeannuation Tax Sevices > communicate effectively to stay on thei flight path. This is the philosophy behind Patnes Wealth Goup and now you know why geese do moe than lay golden eggs! Patnes 360 BETTER FINANCIAL HEALTH A new appoach fo allied health pofessionals. It s been a busy few months fo the team and we e pleased to announce that Guild Financial Planning is now pat of Patnes Wealth Goup. Guild Financial Planning is a national financial planning business. It is widely ecognised fo poviding specialist financial and insuance advice to allied health pofessionals. All NEW appoach The acquisition of Guild Financial Planning undescoes ou commitment to tapping into and stengthening the sevice offeing to health cae pofessionals and business ownes, said Chis McMahon, CEO of Patnes Wealth Goup. Ou patneship with Guild Financial Planning will ensue it has access to the expetise and esouces needed to develop a new ange of bespoke solutions fo the health cae maket. ISSUE 1 > JUNE

4 ESSENTIAL TIPS FOR THE END OF FINANCIAL YEAR With the end of financial yea fast appoaching, ae you oganised to impove you tax position? Conside some of the stategies below fo a stat. But don t foget to contact us fo a chat to see if thee is anything else which may be appopiate. > Pepaying expenses up to 12 months ahead on allowable deductions can bing fowad tax benefits and educe any cuent yea tax liabilities. This could esult in a lage efund, which could be effectively utilised by paying down non-deductible debt. > Utilise as much of you concessional (deducted) supeannuation limit of $25,000. > Undetake any voluntay epais and maintenance on investment popeties in this cuent financial yea. CAPITAL GAINS AND HIGH INCOME EARNERS TAX PLANNING STRATEGIES The conditions fo evisiting tax planning stategies ae vey good this yea paticulaly fo high income eanes and those with lage one-off capital gains. We have low volatility, attactive valuations and positive sentiment in shaes. Dividends ae obust and inteest ates at a ecod low which povides a good foundation fo deliveing positive investment etuns and tax savings fo clients. The fundamentals fo success ae all thee. If you e an accountant, a lot has changed ove the last five yeas with stuctued poducts and we would encouage you to lean moe about what options you clients could take. To find out moe please contact: Matthew Hol Senio Financial Adviso, Patnes Retiement Planning and Investment Advisos E Matthew Hol is a Senio Financial Adviso at Patnes Retiement Planning and Investment Advisos * and an Authoised Repesentative of Chate Financial Planning Limited. Matthew specialises in investment management and etiement planning. > Ae you likely to eceive a bonus befoe 30 June? If yes, you may wish to conside asking you employe to salay sacifice you payment into supeannuation to educe you taxable income. Make sue you have a salay sacifice ageement in place befoe making the exta contibution. > Pe-pay next yea s income potection insuance pemiums by 30 June and tax deduct the entie amount now. > Sell investments that ae in a capital loss situation whee the futue investment outlook emains bleak fo those investments. These losses can be offset against cuent yea ealised capital gains. > Check you total medical out of pocket expenses this financial yea. If you adjusted taxable income is above $84,000 fo singles o $168,000 fo a couple o family (+$1,500 fo each child afte the fist) you may be able to claim a eimbusement of 10% fo eligible out of pocket expenses incued in excess of $5,000 (indexed annually). Taxpayes with an adjusted taxable income below these thesholds will be able to claim a eimbusement of 20% fo net medical expenses ove $2,120 (CPI indexed fo ) when they lodge thei tax etun. > Make those last minute donations to ATO-appoved chaities now, athe than in July. > Stat getting you eceipts, income, inteest and dividend statements oganised as you tax statements will stat aiving in the mail. If you have any questions o need to eview you financial position befoe 30 June, please contact: Patick Bay Geneal Manage, Patnes Retiement Planning and Investment Advisos E Patick Bay is a Geneal Manage at Patnes Retiement Planning and Investment Advisos * and an Authoised Repesentative of Chate Financial Planning Limited. Patick is a specialist in supeannuation and insuance. * Patnes Retiement Planning Investment Advisos ae Authoised Repesentatives of Chate Financial Planning Limited, Austalian Financial Sevices Licensee Licence Numbe PARTNERS OUTLOOK

5 PROPOSED CHANGES TO SUPERANNUATION On 5 Apil 2013, Bill Shoten and Wayne Swan announced the Govenment s poposed changes to supeannuation laws. The opposition has stated they will object to many of these poposals so we may not see these changes legislated befoe the next election. The following summaises the key poposed changes to supeannuation: 1. CHANGES TO THE TAX EXEMPTION FOR EARNINGS ON SUPERANNUATION ASSETS SUPPORTING INCOME STREAMS Fom 1 July 2014, eanings above $100,000 pe yea on assets suppoting pensions will be taxed at a ate of 15%. The cuent supeannuation concessional tax ate on fund eanings is 15% and can be 0% fo those in eceipt of pensions. The poposed tax ate is still 0% on the fist $100,000. The govenment estimates this measue will only affect about 16,000 supeannuation membes with supeannuation balances of $2 million o moe. Tax fee pension and lump sum withdawals emain fo those membes ove 60 yeas of age. The measue gandfathes the Capital Gains Tax (CGT) teatment of existing assets suppoting income steams until 1 July Fo fund assets that wee puchased befoe 5 Apil 2013, the efom will only apply to capital gains that accue afte 1 July Fo assets puchased fom 1 July 2014, the efom will apply to the entie capital gain. 2. INCREASE OF CONCESSIONAL CONTRIBUTION CAPS > Fom 1 July 2013 taxpayes aged 60 and ove will have a $35,000 cap; and > Fom 1 July 2014 taxpayes aged 50 and ove will have a $35,000 cap. 3. REFORM OF THE EXCESS CONTRIBUTION TA X The new Excess Contibution Tax (ECT) egime fo concessional contibutions will allow taxpayes who have exceeded thei concessional contibution cap afte 1 July 2013 to withdaw the excess contibution fom thei supeannuation fund with the excess contibution being taxed at the taxpaye s maginal ate. The esult of these changes is that an excess concessional contibution will be taxed in the same way that a non-concessional contibution would have been taxed. 4. EXTENDING NORMAL DEEMING RULES TO SUPERANNUATION ACCOUNT-BASED INCOME STREAMS The govenment poposes to extend the nomal deeming ules to supeannuation account-based income steams fo the puposes of the pension income test. Fom 1 Januay 2015, the standad pension deeming aangements will apply to new supeannuation account-based income steams assessed unde the pension income test ules. GET THE RIGHT ADVICE These poposed changes povide an oppotunity to discuss with you Patnes financial adviso what impact they could have on you. You adviso will ecommend action to educe the impact should they become legislation (specifically the poposed change to tax on income suppoting pensions). If you wish to eceive futhe infomation, please contact: John Lethbidge Specialist SMSF Adviso, Patnes Supeannuation Sevices E John Lethbidge is an expeienced SMSF Specialist Adviso with Patnes Supeannuation Sevices. John povides specialist SMSF advice to accountants and thei clients. ISSUE 1 > JUNE

6 END OF FINANCIAL YEAR CHECKLIST SMSF With the end of the financial yea aound the cone, time is unning out to eview you supeannuation stategies. You must ensue any end of yea financial tansaction is made on o befoe 28 June 2013, as 30 June falls on a Sunday this yea. Hee is a checklist that you should addess with you Patnes financial adviso now! ENSURE MINIMUM PENSION IS TAKEN Fo membes in the pension phase, ensue that you have eceived the equied minimum pension amount by 30 June Failue to meet you minimum pension levels can esult in the investment income deived fom you assets suppoting that pension no longe being exempt fom tax and othe penalties could apply. REDUCED CONCESSIONAL CONTRIBUTIONS CAP The eduction in the concessional contibution (tax deductible) fo individuals ove 50 to $25,000 took effect on 1 July You may need to take action befoe the end of the financial yea to make sue you have not exceeded the cap o you could incu excess contibutions tax. CLAIMING A TA X DEDUCTION FOR YOUR PERSONAL SUPERANNUATION CONTRIBUTIONS If you ae thinking of claiming a tax deduction fo you supeannuation contibutions make sue you ae eligible to claim the tax deduction and seek advice if you e unsue. Keep in mind that if you ae also making maximum non concessional (afte tax) contibutions, an eo in claiming a tax deduction fo pesonal supeannuation contibutions can have excess tax consequences of 46.5% o highe. MAKING LARGE NON CONCESSIONAL CONTRIBUTIONS If you intend to make lage non concessional (afte tax) contibutions to you supe fund you should execise cae egading the amount to avoid excess contibutions penalties. Non concessional contibutions made in the pevious two financial yeas can also have an impact. OFF-MARKET TRANSFERS The govenment announced on 29 May 2013 that they will not poceed with the pohibition of SMSFs being able to conduct off maket shae tansfes fom 1 July The Govenment had peviously poposed that off-maket tansfes of listed secuities between SMSFs and elated paties would be banned fom 1 July Theefoe, SMSFs will continue to be able to eceive and tansfe shaes to elated paties by off maket tansactions afte 1 July GOVERNMENT CO-CONTRIBUTION Take advantage of the govenment co-contibution by making a non-concessional (afte tax) supe contibution befoe the end of the financial yea. Fo evey dolla of eligible contibutions, the govenment contibutes 50 cents to you supeannuation (up to a maximum of $500). Fo , the maximum govenment co-contibution is payable fo individuals on incomes at o below $31,920 and educes by 3.33 cents fo each dolla above this. The co-contibution cuts out completely once an individual s total income fo the yea exceeds $46,920. WE CAN HELP Don t leave it until the end of June, eview you Self Managed Supe Fund now and seek advice if in doubt about any matte. If you need assistance with any aspect of you end of yea supeannuation tax planning, please contact you Patnes financial adviso to discuss. If you wish to eceive futhe infomation, please contact: John Lethbidge Specialist SMSF Adviso, Patnes Supeannuation Sevices E John Lethbidge is an expeienced SMSF Specialist Adviso with Patnes Supeannuation Sevices. John povides specialist SMSF advice to accountants and thei clients. 6 PARTNERS OUTLOOK

7 BUILD YOUR LEVEL OF DEBT PROTECTION Did you know the Pesonal Popety Secuities Registe (PPSR) is the egiste whee details of secuity inteests in pesonal popety can be egisteed and seached? The Insolvency and Tustee Sevice Austalia (ITSA) is the Austalian Govenment agency esponsible fo administeing the PPSR. On 30 Januay 2013, the Registe celebated its fist bithday. The PPSR now has moe than 7,000,000 egistations. This figue notwithstanding, many businesses have failed to take advantage of the PPSR. By doing so, they ae effectively placing themselves in the position of an unsecued cedito duing custome insolvencies. ASIC epots that in 98% of liquidations in , unsecued ceditos eceived less than 11 in the dolla. 1 Exceptions ae ae and do not offe much comfot the St Hillies goup stuck an ageement with its ceditos, with unsecued ceditos to eceive the elatively pincely sum of between 3.5 and 13 in the dolla in the wash-up ove the yeas. 2 Insolvencies ae infectious. Though a combination of non-payment and pesonal guaantees, a financial cisis within one business can quickly spead to its supplies, o even elated paties within the same goup. Just one defaulting custome can have devastating consequences. Duing the administation of the waehouse chain Supe Butche, two sepaate unsecued ceditos with well-established and viable businesses wee foced into liquidation. Each was owed hundeds of thousands of dollas by the etaile. 3 Businesses all ove the county ae leaning this lesson the had way. The New South Wales Govenment estimates that in the constuction industy alone, 24,000 sub-contactos geneally unsecued ceditos have gone unpaid in the last thee yeas! Unde the Pesonal Popety Secuities Act, a two-yea tansition peiod is available to egiste most secuity inteests that existed pio to 30 Januay Moe than half of this tansition peiod has aleady passed. Fo any secuity inteests ceated afte 30 Januay 2012, thee is no tansition peiod and you clients need to be egisteing NOW in accodance with the PPSR s stict time estictions. HOW WE CAN HELP Patnes Legal can wok with you and you clients to: > obtain secuity ove custome assets > potect expensive plant and equipment leased to thid paties > integate Retention of Title potection into tade documents > seek pesonal guaantees when cedit is povided > egiste secuity inteests on the PPSR. If you would like moe infomation please contact: Howad Chait Litigation Patne, Patnes Legal E Pete Gandolfo Managing Patne, Patnes Legal E Howad Chait (LL.B., B.A) ecently joined Patnes Legal as a Litigation Patne. His expeience coves a full ange of banking, commecial litigation and insolvency wok acoss accounting fims, banks and vaious copoate entities. Pete Gandolfo (LL.B., B.Comm.) is the Managing Patne of Patnes Legal. Pete povides pactical and effective advice to his clients on a boad ange of pivate and commecial legal issues. 1 ASIC epots on copoate insolvencies , 7 Septembe Austalian Financial Review, How St Hillies Suvived Administation, 10 Decembe July 2012 ISSUE 1 > JUNE

8 PRE-APPROVED VEHICLE, PLANT AND EQUIPMENT FINANCE FOR YOUR BUSINESS Doing business with Patnes Motgage and Lending (PML) just got easie with new offes on pe-appoved vehicle, plant and equipment finance that won t put a stain on you cash flow. VEHICLE, PLANT AND EQUIPMENT FINANCE If you e a business owne opeating fo at least two yeas and you own you home, PML can povide you pe-appoval fo: > new vehicle(s) up to $150k > new plant and equipment up to $100k > the upgade and eplacement of a vehicle o plant and equipment up to $75k. Huy! Offe ends 30 June Tems and conditions apply. Don t foget, if you e afte any type of finance, o need solutions, talk to us fist! PROPERTY FINANCE Altenatively, if you ae: > buying you fist home > upgading to you next home > enteing into popety investment > efinancing o wanting to pay off you existing home loan soone PML can povide the ight finance option and assist in obtaining the quickest appoval fo you finance. With home loan ates dopping again ecently, we can souce you a geat deal. PML has access to the majo banks and a lage ange of othe lending institutions with the most competitive inteest ates and fees available. We take the time to undestand you pesonal and business needs, and wok to help you achieve you financial equiements. Moe impotantly, we act fo you, not the banks o finance companies. Phil Boyle Diecto, Patnes Motgage and Lending E Phil Boyle has been a Diecto of Patnes Motgage and Lending Sevice (PML) since incopoation. He has moe than 35 yeas of expeience in the finance industy, including senio positions with an institutional bank. He is a Senio Associate of the Finance Institute of Austalia, and is involved in many facets of lending. Phil is a key executive, esponsible fo the management and opeations of PML. CONTACT PARTNERS WEALTH GROUP Head Office: Level 13, 636 St Kilda Road, Melboune VIC 3004 NSW Office: Level 4, 8 Sping Steet, Sydney NSW 2000 T QLD Office: Level 3, 164 Gey Steet, South Bisbane, QLD 4101 T WA Office: Level 1, 9 Bowman Steet, South Peth, WA 6151 T Patnes Wealth Goup Patnes Retiement Planning & Investment Advisos Patnes Salay Packaging Patnes Popety Patnes Motgage & Lending Patnes Legal Patnes Supeannuation Sevices Patnes Supeannuation Tax Sevices Guild Financial Planning Advise Potfolio Solutions Patnes 360 Disclaime: This publication has been pepaed to povide you with geneal infomation only. It is not intended to take the place of pofessional advice and you should not take action on specific issues in eliance on this infomation. In pepaing this infomation, we did not take into account the investment objectives, financial situation o paticula needs of any paticula peson. Befoe making an investment decision, you need to conside (with o without the assistance of an advise) whethe this infomation is appopiate to you needs, objectives and cicumstances. Patnes Wealth Goup does not give any waanty as to the accuacy, eliability o completeness of infomation. We do not accept any liability fo any eo o omission in this pesentation o fo any esulting loss o damage. Past pefomance is not indicative of futue pefomance. This infomation is povided fo pesons in Austalia only and is not povided fo the use of any peson who is in any othe county. The Advisos of Patnes Retiement Planning & Investment Advisos ae Authoised Repesentatives of Chate Financial Planning Limited Austalian Financial Sevices Licensee Licence No

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