City of Parramatta has applauded the Greater Sydney Commission’s (GSC) vision for a thriving economic corridor from Olympic Park to Westmead which recognises the crucial part Parramatta will play in the future growth of Global Sydney.

Greater Sydney Chief Commissioner Lucy Turnbull has outlined a plan to create a three city strategy for Sydney with Greater Parramatta and the Olympic Peninsula (GPOP) to be delivered as the Central City.

GSC’s report identifies Parramatta as the “connected, unifying heart” of Global Sydney.

“The Commission has worked closely with City of Parramatta and other stakeholders to create a unified vision for what is a very critical economic corridor, which will be underpinned by the new Parramatta Light Rail,” City of Parramatta Council Administrator Amanda Chadwick said.

“There is a significant amount of investment flowing in to the GPOP corridor and having an agreed vision will ensure a coordinated approach to planning and infrastructure delivery.

“Crucial to this vision will be the delivery of key cultural and transport infrastructure such as Parramatta Light Rail, Museum of Applied Arts and Sciences (MAAS) and a fast rail connecting the Eastern City and Parramatta with the new Western Sydney Airport.”

The Commission has outlined four distinct zones within GPOP including: Parramatta CBD and Westmead Health and Education Super Precinct; Next Generation Living from Camellia to Carlingford; Essential Urban Services, Advanced Technology and Knowledge Sectors in Camellia, Rydalmere, Silverwater and Auburn; and Olympic Park Lifestyle Super Precinct.

The report highlights the importance of the 4,000 hectare economic corridor and the opportunities to create jobs, housing and transport connections to facilitate significant population growth in the region.

“This is a once in a lifetime opportunity to deliver Sydney a central city that offers lifestyle, employment, arts and culture and world-class transport infrastructure. The Parramatta CBD is at the core of this vision and needs to be interconnected to the north, south, east and west in order to create a highly liveable city,” Ms Chadwick said.

Council’s recent ‘Parramatta 2021’ report by PricewaterhouseCoopers shows that Parramatta will benefit from more than $10 billion worth of investment during the next five years. Economic growth is expected to double and the City’s economy will be worth $30 billion.

“There is already significant investment momentum and work underway to deliver on the vision for GPOP. City of Parramatta Council will continue to work with the Commission and other stakeholders to ensure all these opportunities are realised for the community.”

In the May 2016 Federal Budget the Government announced a raft of proposals to change the superannuation rules. Since that time there has been considerable debate, consultation and political negotiation. In September and October 2016 exposure draft legislation was released, providing additional detail of the changes.

It is likely to be months before we see final legislation passed by Parliament and for some people there will be a short timeframe in which to take action to avoid penalty or adverse outcomes. Advice should therefore be sought sooner rather than later to ensure that you are ready for the changes.

Summary of proposed changes

The proposed changes include:

• Reduction in the concessional contribution cap from $30,000 or $35,000 to $25,000 per annum

• Reduction in the non-concessional contribution cap from $180,000 to $100,000 per annum and ban on further non-concessional contributions where super balance already exceeds $1.6 million

• Introduction of a $1.6 million cap on the amount that can be held in superannuation pension accounts

• Transition to retirement pensions will no longer attract tax concessions in a superannuation fund

• Allowing over 65s to make personal super contributions and removal of the “10% test”, allowing anyone up to age of 75 to claim a tax deduction for concessional contributions

• Ability to “catch-up” unused concessional contribution caps over 5 year period where super balance is below $500,000

• Extending the tax offset for low income spouses

Start date

The start date for most of proposed changes is 1 July 2017. The catch-up of concessional contributions will commence from 1 July 2018.

Planning opportunities

Business owners will need to be aware of the changes, particularly where business assets are held in self-managed superannuation funds. The new measures may adversely impact succession plans and also the ability to continue to fund limited recourse borrowing arrangements.

The 2016/17 financial year represents the final opportunity for people with available funds to make large super contributions before the lower limits start to apply. If the three year “bring forward” limit for non-concessional contributions has not already been utilised, a contribution of up to $540,000 can be made, even if the current balance exceeds $1.6 million. A contribution can be made in cash, a transfer of listed shares or business real property.

The small business CGT cap of up to $1.415 million continues to apply and this represents a significant opportunity for eligible people to top up their super savings in addition to the standard caps. The small business CGT concessions apply to the disposal of active business assets.

Anyone with current super pensions exceeding the proposed $1.6 million “transfer balance cap” will need to make some decisions prior to 30 June 2017 and will be required to roll some of their super back into an accumulation account. Superannuation death benefit nominations and estate plans will need to be revised as reversionary pensions are adversely affected by these proposals.

Transition to retirement pensions may no longer be worthwhile for some people as the tax exemption on associated earnings is proposed to be removed from 1 July 2017. This will affect anyone who started a superannuation pension before retirement, or reaching age 65.

It is important to obtain personal advice to understand how these proposals will affect you and what planning opportunities may be available, particularly in the lead up to 30 June 2017. For further information, please contact your Pitcher Partners representative.

Author

Louise Meijer

Partner, Private Clients

Pitcher Partners Sydney

T: +61 2 8236 7748

E: louise.meijer@pitcher.com.au

W: www.pitcher.com.au

Events by ATC at Royal Randwick and the newly refurbished Rosehill Gardens are excited to officially launch their brand new website and rebrand.

Over the past 5 years both Royal Randwick and Rosehill Gardens have undergone a $178million redevelopment and now offer some of Sydney’s most exciting event spaces for functions, conferences and special events. Premium venues along with the experienced Events by ATC team, ensures a stress-free and enjoyable experience for both organiser and guest.

“In order for event planners and clients to fully understand the range of venues that Events by ATC can offer, we wanted to create an online destination that would not only showcase our event venues, but also show how we can help to make their events a success. The new branding is reflective of our professional team of industry specialists and approach to delivering successful events” said Jimmy Busteed, General Manager Function & Event Sales

The new website www.eventsbyatc.com.au has been designed to make finding the perfect venue suitable for events ranging from 100 to 50,000 as easy as possible. With clear images, precise venue information, floor plans and menus, event planners and clients will find it easy to choose the best venue for their next event.

Rosehill welcomes new addition to their premier event precinct 

The recent refurbishment of the J.R Fleming Grandstand at Rosehill Gardens is now complete and sees the introduction of a brand new venue called The Hive.

This event space is designed with their guests in mind. A multi-purpose function venue located on the top level of the J.R. Fleming Grandstand with spectacular views of the racecourse, the flexibility of The Hive can facilitate functions and events for intimate groups or large scale groups of up to 300 guests.

Venue features include:  

• Floor to ceiling windows trackside with racecourse views
  
• Public address sound system
  
• Wall mounted LCD screens
  
• Air conditioned
  
• Existing bars and café outlets
  
• Amenities
  
• Natural light and carpeted floor
  

For further information contact the ATC sales team on 1300 729 668 or email info@eventsbyatc.com.au.

On the 10th and 11th November Urban Growth invite you to participate in panel discussions, working sessions, inspirational presentations, site tours and displays to help grow ideas for the Parramatta North heritage precinct.

Day one of Sprout will provide you with an opportunity to get a good understanding of the site, with tours and displays.

On day two Urban Growth will ask everyone to roll up their sleeves and put pen to paper. You will hear from community leaders, business owners, innovators, designers, artists, heritage experts, university students and academics to help inspire your thinking.

There will also be an opportunity for you to present your own ideas.

When, what and where:

Thursday 10 November 10:00am – 3:00pm

Site tours, displays, incubator showcase, NBN Sky Muster.

Friday 11 November 8:00am – 5:00pm

Presentations, panel discussions, workshop, displays, incubator showcase, NBN Sky Muster.

Friday 11 November 5:30pm – 7:30pm

Join us in the evening at Sprout, to view presentations, displays and videos, participate in a workshop, and provide your feedback.

Where: The Chapel, Norma Parker Centre, 1 Fleet Street, North Parramatta NSW 2145

Travel: The site is a pleasant 2km walk from Parramatta or Westmead Station. Alternatively, take bus 549, 601 or M54 or the free shuttle bus from Parramatta Station. Limited parking is available on site.

Contact: For more information please contact: 

Sara Wilson on 0419 815 087

Website: http://www.urbangrowth.nsw.gov.au/parramattanorth

Sprout is free to attend, however pre-registration is required, as there is limited space. Click here to register.

After experiencing huge success in 2015, Sydney’s largest family spectacular is back at Rosehill Gardens Racecourse this December.

The Sydney Santa Spectacular is set to be a fun filled family extravaganza with lots of rides, ice skating, 100's and 1000's of decorations that will dazzle your senses, and the ever popular North Pole experience which is sure to provide amusement and entertainment for every child and for the inner child of every mum and dad as well. 

There will be limited tickets for each of the three hour sessions so book your tickets early to confirm a place for your family.

What does the ticket price include?

Your ticket gives you access to unlimited rides and the gorgeous interactive walk-through enchanted snow forest where snow falls daily*, interactive attractions including:

• Gingerbread Land where you can custom decorate your own cookie

• Little elves craft workshop where you can can create your favourite Christmas character!

• Snow World's ice skating on The North Pole's spectacular ice skate rink...one of Australia's largest portable ice skate rinks

• Toboggan snow slide double lane, larger then last year

• Christmas Fairy reading time and Snow Queen stage entertainment

• Roaming meet and greet characters

• Free parking

• Santa Express Train
  

• A magical walk through Enchanted Christmas Forest

• Family amusement rides and attractions

• Stage entertainment at 'North Pole's Main Stage'

• Australia's only enchanting Double Decker Carousel

• Spectacular Snow Castle and Christmas theme inflatable world

And much much more!

Click here for further information or to book your tickets. 

*Please Note: Snow falling in the event is artificial snow from snow machines

In business, what's more important…Work ethic or brains?

This is a question I have asked myself constantly over my entire business life.

I grew up in a household that paid no respect to education whatsoever.

In my primary school years, aged say 6 to 12, I spent more time working on the small family farm and playing football than learning.

A typical day would be out of bed at 5 - 5:30am.

My 7 brothers and sisters and I would make our way to the warmth of our heater in the dark, cold of the morning (being very careful not to wake our parents) and flick on the TV to watch cartoons.

The old Looney Toons was the go to back then and for me it was my only peace in the day when I didn't have to worry about anything or do anything.

When I say peace, it was always an uneasy peace as in the back of my mind there was always the darkness of what mood my mother would be in and how that would affect my day. Would I be with my friends at school learning and enjoying being a child or would I be working/ cleaning, trying to keep mum in a good mood?

The Looney Toons solitude lasted about an hour before my parents started barking orders and the peace was shattered and the work began.

We all fed ourselves, dressed ourselves, made our own lunch, cleaned up our mess, and often had jobs to do before school.

Our mornings were made easier if our mother was in a good mood, however if she wasn't then those mornings could be thrown into absolute chaos.

To cut a long story short, if my mother felt I should stay home and work then that's what happened, so at least one day out of a normal week I would not be at school.

I never did any homework, EVER.

It just wasn't important at our house.

Afternoons I worked and or trained football and weekends I played my game then worked.

Having friends over or going to someone's house rarely happened. We were too busy working.

We rarely had time to play, or if we did it was often interrupted because we had to work.

You might know (recall?) I went overseas at a very early age to play football, so whatever education I was getting stopped then.

So clearly I lacked a typical education, but all my hidden learning was about work ethic, through my home life, upbringing and my football.

I was always a relentless competitor and still am.

When I was overseas on my own from 14, I'm sure a big part of my hidden learning was becoming street smart.

"Was this where I GREW A BRAIN"?

So, I knew how to work but was I smart?

I think the answer is, I had potential to be smart but hadn't tapped into it yet. One thing is for sure, I needed to be interested in something to learn about it.

When I was in school I was hopeless, really hopeless, and was in all the lowest classes in every subject.

I don't think anyone ever even cared how hopeless I really was or read any of my reports. I think everyone already knew what they contained.

But I think most people just said, ‘don't worry about Kazan, he's going to be a football star!!’

When I eventually gave up football due to multiple serious injuries, and concentrated on building and on my company, I discovered something about myself that I don't think anyone knew, something "I certainly didn't".

And that was that I was interested in something other than football for the first time in my life, and every single thing I learnt, that I was taught or I saw relating to building stuck. Even mathematics came easy to me when I used it in the context of building things, a subject I was clearly interested in now.

So this meant I only needed to be shown or taught something once, and I knew it forever.

The biggest thing was though, because I was so interested, my work ethic, " how hard I tried " went through the roof.

I wouldn't let anyone ever work harder than me, "NO WAY" and I could work literally until I fell asleep with exhaustion, or I finished a job, whatever came first.

For me work ethic wasn't just physical though. It was also the relentless effort and perseverance of the day to day mundane tasks of running a business - making that phone call you just didn't want to make, staying back that extra half hour to finish something properly, making sure your client was always happy with you and your team, arguing your point for what you believed in often against some very intimidating character's in the building game.

Most importantly, the constant coaching of all your team around you how to believe in and maintain your standards hour after hour, day after day, year after year, never dropping the ball… NEVER EVER DROPPING THE BALL.

Author

Kazan Hadden

Director

0416 024 369

kazan@nickaz.com.au

Board Member, The John Maclean Foundation, jmf.com.au

www.linkedin.com/in/kazan-hadden-nickaz

Address: Suite 101, 22 Brookhollow Avenue, Baulkham Hills NSW 2153

Phone: 02 9659 3387

Email: info@nickaz.com.au

Wesbite: www.nickaz.com.au 

Instagram: @nickaz_constructions

Novotel Sydney Parramatta welcomes all families and friends to celebrate this festive season together with their extravagant Christmas Day Lunch Buffet in 350 Restaurant and Lounge on Sunday 25th December. This Christmas will be one to remember as the hotel’s Atrium is transformed into a dazzling Christmas wonderland!

Enjoy a delicious Christmas Day Lunch Buffet with an abundance of fresh seafood, tantalising carvery selection, delectable Christmas desserts, plus the inclusion of house wine, beer & soft drinks.

Children can delight in a separate buffet just for them and gather around the impressive Christmas tree to receive a special Christmas gift from Mr. Claus! Children under 5 years of age are free.

Bonus offer: Stay from $150 Standard Room for overnight accommodation including buffet breakfast & parking.

Email h8787-sb4@accor.com or call the friendly Novotel reservations team on (02) 9630 4999 for the booking form or for further information.

SMEs and individual innovators are likely to benefit from recent changes to official trade mark, patent and design fees. Reducing initial costs such as those involved in early stage evaluation of patentability, and up-front application costs for trade marks, are expected to support innovation.

The registration fee for a trade mark has been completely removed, thereby reducing the overall up-front cost to register a trade mark in Australia. There is also a significant reduction in the official fee for undertaking an international type search, which is commonly used for assessing patentability of innovations. These fee changes came into effect on 10 October 2016.

IP Australia is however off-setting the reduction in certain up-front fees by increasing maintenance fees in the latter stages of the term of IP rights, when the rights are likely to be generating more value for their owners.

The changes follow an internal review of IP Australia's cost recovery requirements, and community consultation with stakeholders to canvass suggestions on how fees can be changed in order to foster innovation and benefit IP Australia's customer base. The fee changes are also intended to reduce red tape by streamlining the fee structure and to bring IP Australia more into line with other Patent and Trade mark Offices.

For our full analysis and fee breakdowns, go to https://goo.gl/WiMkuz

The fourth report in the Making Western Sydney Greater research is now available. 

In this edition, we investigated how the perception of Western Sydney impacts on businesses and what can be done to improve perceptions. Our research also showed that Western Sydney business owners and managers have maintained a strong and positive outlook for their businesses, despite potentially disruptive national and global events, but some variance between different segments and regions was apparent. To download your copy of the research, and find out what’s Making Western Sydney Greater for businesses, click here.

Making Western Sydney Greater is an ongoing effort. Undertaken by national accounting firm William Buck, in partnership with St George, Western Sydney University and Western Sydney Business Connection, our research stems from the long-term commitment to Western Sydney that we share.

The next survey will be undertaken in late 2016. We encourage you to participate, and be part of this unique research which is being used to inform Government policy and programmes.

For further details contact William Buck at research@williambuck.com