Member News

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  • 21-Feb-2017 16:13 | Tracy Dawson (Administrator)

    We are pleased to provide you with the latest edition of the Pitcher Partners national publication - Property of Pitcher Partners. This publication provides insight and commentary on the Australian property market.

    In this edition we cover:

    • The Property Market Report including prime residential property market perspective, three themes for real estate investors and Sydney’s future as a co-living, co-functioning hub.
    • Airbnb – The questions people want answered – Does it go in my tax return, can I claim it and what about taxes?
    • Tenants and landlords – Commercial leases and the changes to lease accounting standards
    • The AP energy case and the importance of market valuations
    • Snapshot of recent tax changes affecting property transactions
    • Margin scheme traps - Dot your I's and cross your T's
    • Property sales in the federal government's crosshairs – New laws to claw back up to 10% of the sale price for real estate sold by foreign residents at $2m and above.

    Click here to continue reading.

    For further information, please contact your Pitcher Partners representative.


    Contact

    Scott McGill

    Partner, Property Group

    Pitcher Partners Sydney

    T: +61 2 8236 7880

    E: scott.mcgill@pitcher.com.au




  • 20-Feb-2017 17:09 | Tracy Dawson (Administrator)

    Introducing PARKROYAL Parramatta’s hottest new offers:

    Lunch on the Deck with a glass of selected wine, beer or soft drink for only $18.90. This offer is available Monday to Friday from 12:00pm - 2:30pm.

    Live music and $10 cocktails every Friday night from 6.00pm.

    The Seafood Buffet. Seafood lovers can indulge in the freshest locally sourced seafood, available every Saturday night.

    Click here for more information  


  • 14-Feb-2017 16:30 | Tracy Dawson (Administrator)

    After months of Government deliberation, public outcry and political backflips the largest superannuation reform legislation in almost 10 years finally passed both houses of parliament on 22 November 2016.

    Though these superannuation changes have been marketed by the government as some kind of Robin Hood approach to a seemingly flawed system, the impact and significance of these changes will be felt by all those saving for retirement especially the wider middle class Australians and not just those considered wealthy.

    A Bit of Background

    The Government’s superannuation reforms were first unveiled by Treasurer Scott Morrison in the May budget amid a wave of uproar from experts, the superannuation industry and the general public alike due to the extent and timeline for the introduction of the reforms.

    The legislation has undergone a number of changes since the original proposals, the Government finally settling on a watered down version as a compromise to ensure they were passed through parliament.

    The Governments changes are aimed at making Australia’s superannuation system “fairer and sustainable” in the long term by reducing the benefits of superannuation to high wealth individuals.

    The Key Changes

    1. Concessional Contribution cap reduced from $30,000-$35,000 to $25,000

    The cap on concessional contributions will no longer be determined by age and instead will be $25,000 for everyone.

    2. Removal of 10% income test on deductible personal contributions

    The requirement that less than 10% of taxable income must come from wages/salaries has been removed and now anyone can claim a personal deduction for contributions subject to the above caps.

    3. Div 293 Tax Income Threshold reduced from $300,000 to $250,000

    Taxpayers with personal taxable income in excess of $250,000 will now need to pay an additional 15% in contribution tax on their concessional contributions.

    4. Ability to catch-up on concessional super contributions for those with balances less than $500,000

    Individuals will be able to make additional concessional contributions where they have not used up their cap in the previous 5 years if their balance does not exceed $500,000.

    5. Ability to make non-concessional super contributions limited to those with balances less than $1.6 mil

    Individuals can no longer make non-concessional contributions once their balance exceeds $1.6 mil.

    6. Non-concessional contribution cap lowered from $180,000 to $100,000

    The ability to bring forward the cap of an additional 2 years worth of non-concessional contributions will still be available to those under the age of 65.

    Those who trigger their bring forward rules in the 2016 or 2017 years and not use up the existing cap by 30 June 2017 will have the remaining cap adjusted down inline with the new cap.

    7. Low Income Superannuation Tax Offset available to those with low individual taxable income

    The current low income super contribution will be replaced with a tax offset for the same amount to those with personal taxable income of less than $37,001.

    8. Removal of tax-free exemption of earnings from transition to retirement pensions

    There will now be no tax benefit to starting a transition to retirement pension.

    9. $1.6 mil cap on amounts transferred into an account based pension

    A $1.6 million pension cap will be introduced, earnings on this cap will remain tax free the balance will be left in accumulation phase and the earnings taxed at 15%.

    10. Temporary CGT relief available to funds where there is a gain resulting from the $1.6 mil cap

    Assets that are moved into accumulation due to the new $1.6 mil cap will be able to have their costbase reset to their 1 July 2017 value to reduce CGT implications in the future.

    What should you be doing?

    A few things worth thinking about before 1 July 2017 rolls around and most of the changes come into effect are:

    • Utilising the $540,000 bring forward non-concessional cap before it drops to only $300,000,
    • Starting a transition to retirement pension for the remainder of 2017 financial year while earnings on them are tax free
    • Obtaining market valuations on various assets to have their costbase reset and thus benefit from the CGT relief


    These changes whilst wide reaching do provide opportunities but only if you act before 30 June 2017. CIB Accountants & Advisers will be holding free seminars in March to further explain the ramifications of these changes. If you are interested in attending the seminar please contact Krystina Wildman on (02) 9683 5999.




  • 13-Feb-2017 17:06 | Tracy Dawson (Administrator)

    The Western Sydney Making Spaces Initiative will provide funding to enable professional artists and arts organisations to create their work in new studios, artists’ residencies and rehearsal spaces in Western Sydney.

    The Western Sydney Making Spaces Initiative seeks to open up new and innovative arts sites across Western Sydney to increase the footprint of arts making and arts participation across the region. It is designed to encourage property owners or managers to offer new or unused spaces for making and programming art works in 2017/18 and 2018/19.

    The information on this page is a guide only. Before you apply, please read the Western Sydney Making Spaces Initiative Guidelines for more comprehensive information, including special eligibility requirements and assessment criteria for this funding category.

    Applications close: 6 March 2017 (5pm, AEST – Sydney time)

    Who can apply?

    • Professional artists, creative partnerships, cultural groups and arts organisations based in NSW
    • Community groups, unincorporated entities and non-government organisations based in NSW
    • Government property owners managers based in NSW.

    Term

    Projects must commence on or after 1 July 2017 but can run until 30 June 2019.

    Funding range

    • $10,000 to $60,000 per application.

    Objectives

    • Develop new spaces or venues in Western Sydney outside the spaces currently funded for arts activities
    • Support new creative hubs to build capacity and sustainability of arts practice in Western Sydney
    • Increase visibility of arts and cultural practice across Western Sydney particularly in new areas in the region.

    Assessment criteria

    Applications will be assessed against the Assessment Criteria outlined in the Western Sydney Making Spaces Initiative Guidelines. Applicants are required to review the guidelines before submitting an application.

    Application process

    To apply, you must submit a completed online application form and the required support material. Applications must be submitted through the Arts NSW online application system available from 25 January.

    Contact Us

    Augusta Supple, Western Sydney Project Officer, Strategic Initiatives
    Phone: 02 9995 0533
    Email: augusta.supple@arts.nsw.gov.au

    Arts NSW is committed to supporting applicants with disability. Information can be provided in alternative formats upon request (i.e. large print or electronic). If you require assistance with your application please contact Arts NSW on the details provided below.

    To make a National Relay Service call: 

    • TTY users phone 133677 then ask for (02) 9995 0646
    • Speak and Listen users phone 1300 555 727 then ask for (02) 9995 0646.


  • 13-Feb-2017 16:22 | Tracy Dawson (Administrator)

    Supporting the Victor Chang Cardiac Research Institute. Saturday 11 March - Grand Pavilion, Rosehill Gardens.

    This event is a celebration of Women in Sport and will feature a host of Sydney and Australia’s best sporting talent. Enjoy an unforgettable race day from the top floor of the Grand Pavilion adjacent to the Winning Post whilst supporting the Victor Chang Cardiac Research Institute. With superb food, a selected beverage package, outstanding service and the best views on course overlooking the 2,000m start, this is a popular corporate hub.

    The Women in Sport Long Lunch includes:

    • General admission and access to the Grand Pavilion
    • Three-course lunch
    • Beverage package
    • MC and special guest speakers
    • Gift bag
    • Racebook
    • Access to private betting and bookmaking facilities
    • Complimentary infield parking via Unwin Street
    • Complimentary transport on Sydney trains included with ticket


  • 02-Feb-2017 17:00 | Tracy Dawson (Administrator)

    Local football fans are in for a treat in coming months, with some of the best teams from across Asia set to take to the turf at Campbelltown Sports Stadium, as part of the AFC Champions League.

    The Western Sydney Wanderers became the first Australian team to win the competition in 2014, and will this year play their three group stage games at the stadium, bringing world-class football to Campbelltown’s doorstep.

    The Red & Black will take on Japanese football giants – the Urawa Red Diamonds – on 21 February with kick off at 8pm.

    Click here for further information or to book your tickets.



  • 02-Feb-2017 08:45 | Tracy Dawson (Administrator)

    Together with Servcorp, national business magazine Inside Small Business is launching their Top 50 Small Business Leaders - as judged by successful Australian business entrepreneurs – at events across Australia.  

    The Western Sydney launch will take place on Wednesday 8 February from 5.30pm at Deloitte, Parramatta.

    Join the winners of the top 50, other small-business owners and the judges, and become inspired for 2017.

    Learn what it takes to grow your business and deal with challenges running a business throws up from entrepreneurs who have started their own enterprises with a vision to make the world a better place. Canapes and drinks will follow. 

    Click here to book your free place now. 

    Judges:

    NSW Jack Delosa, Founder, The Entourage

    NSW Jackie Attard, Founder, Acquired Audience 

    VIC Andrew Pearce, Founder, Vixier 

    VIC Tim Ladhams, Editor, Inside Small Business

    QLD Stephen Tait, CEO, CCIQ 

    SA Karen Raffen, CEO, Brands South Australia 

    WA Chris Smoje, Founder, DIME Customer Service

    NSW/ACT Joel Symmans, Director - Sales, eWAY 


  • 30-Jan-2017 16:26 | Tracy Dawson (Administrator)

    Events by ATC are recent winners of the 2016 Savour Australia Restaurant & Catering HOSTPLUS Awards for Excellence NSW – Events Caterer.

    With a $178 million dollar refurbishment of Rosehill Gardens and Royal Randwick, Events by ATC welcome the opportunity to show you through their venues and discuss your event requirements.

    Book and hold your next event before December 2017 to receive a complimentary upgrade to your conference or gala dinner package at either Royal Randwick or Rosehill Gardens.*

    Contact their sales team:

    E: info@eventsbyatc.com.au

    P: 1300 729 668

    W: www.eventsbyatc.com.au


  • 24-Jan-2017 13:31 | Tracy Dawson (Administrator)

    The Parramatta Eels are excited to invite you and your family to the 2017 Blue & Gold Army Festival!

    The festival is open to everyone (free entry) but 2017 Members DO get special Member benefits on the day! Become a Member today to reap the rewards!

    Members get priority entry to the day, with an extra 1.5 hours with the entire full 2017 NRL playing squad, allowing great opportunities for time with the players and signatures!

    WHEN: Sunday, 19 February 2017

    WHERE: Bella Vista Farm - Norwest Blvd & Elizabeth MacArthur Drive, Bella Vista NSW 2153

    TIMES: 2:00 pm – 3:30pm (Eels Members Priority Access)

    3:30pm – 6:00pm (General Public)

    The Blue & Gold Army Festival will be the last opportunity for Eels Members and fans to mingle with the players, hear from NRL Head Coach Brad Arthur and Eels players along with meeting members of the Parramatta Eels Cheerleaders ahead of the start of the 2017 season.

    There are plenty of activities for the kids including a Kid’s Zone with jumping castles, face painting, interactive rides, a petting zoo, Sparky and Sparkles and a NRL youth clinic with plenty of rugby league drills.

    Also check out the Chill Out Zone, set up for Blue & Gold Members and fans to kick back, relax and enjoy the atmosphere.

    Come and visit the Junior Rugby League Club marquee on the day to find out how you can get involved in the game plus enjoy the food area featuring plenty of food trucks, drinks and plenty more catering options available for purchase.

    Don’t forget to visit the Membership team to join the Blue & Gold Army and visit our Merchandise team to check out the latest 2017 70th Anniversary Club merchandise and plenty more Blue and Gold apparel on the day!

    Please note: Parking is available on site. Pets are not permitted at the Blue & Gold Army Festival.


  • 23-Jan-2017 09:37 | Tracy Dawson (Administrator)

    Tropfest, the world's largest short film festival, is making its premiere at Parramatta Park, February 11 2017.

    Here’s your chance to experience the best of Aussie film and cutting edge culture with Tropfest’s corporate hospitality packages located in the most premium locations of the park.

    Tropfest offers the perfect opportunity to reward staff, entertain clients or indulge yourself with family and friends.

    The 25th Anniversary event is set to be bigger and better than ever.


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