Business improvement software projections. It also enables us to perform a detailed health check on proﬁt margin by 1%? and what happens to our cashﬂow if we grow Seminar program your business focusing on the key the business by 25%? Watch for the following Holmans seminar events. Details will be posted to At Holmans Accounting & Taxation, our client managers are now utilising Business Improvement Software (BIS) drivers. We can show how a slight improvement in these drivers can The impact of all these ‘what if’ strategies on proﬁt and cashﬂow are all clients closer to the date, or call our ofﬁce for more information. creating wealth lead to substantial proﬁt and cashﬂow Annual wealth creation & tax planning day 14 Feb 2006 generated by BIS. to assist business clients to improve their proﬁts and cashﬂow. beneﬁts for very little effort. For example, what if I increased my We are offering the ﬁrst 10 Holmans Tax planning workshops: Noosa, Maroochydore & Cairns March 2006 managing wealth BIS is powerful ﬁnancial software prices by 5% or 15%? What is the clients to contact us a free health check Proﬁt improvement workshops: Noosa & Cairns April 2006 that performs ‘what if’ scenarios and produces cashﬂow and proﬁt impact of reducing debtor days by 5%? What if I increased our gross on your business. The normal cost of this service is $275, including GST. Tax planning workshops: Noosa, Maroochydore & Cairns May 2006 ISSUE 9 SUMMER 2006 enjoying wealth Mortgage brokers can save the day From the helm By Jon Colley, Manager - Holmans Lending Tips for the quarter The directors and staff of Holmans wish all our clients a merry Christmas and a safe, prosperous Many of my one lender is usually better suited customer many weeks of searching Childcare Rebate – are you eligible? and tax free New Year. friends ask me than others. And because every loan until they had achieved what a good In addition to the Child Care Beneﬁt (CCB) you may be receiving, did you know you may also be eligible to receive the We estimate the cost of sending Christmas cards to our clients is more than $500 and as in prior “why would I deal is different, if you are only talking broker can achieve in a few hours with recently announced 30% Child Care Tax Rebate? years we have decided not to send out cards but instead have donated $500 to the Queensland use a ﬁnance to one lender, you can often be led to all of the lenders tools and specialised Cancer Fund. broker instead of believe that what you want to achieve software at their ﬁngertips. Subject to the passing of legislation, you may be eligible to claim the rebate for out of pocket child care expenses you going directly to is impossible, when in fact it may have incurred from 1 July 2004 with a maximum rebate of $4000 per child. You can make the claim if you: We recently held our annual charity golf day with 120 people competing in the event held at Tewantin my own bank?”. only be impossible through the lender There are a number of reasons why Noosa Golf Club, raising $3175 for Nambour Hospital’s renal unit. This is quite a you have approached. Each lender is the bank you have used for the last • Receive CCB good question, bound by their own individual policy several years may not be able to lend • Use approved child care, and One of our long time staff members, Kylie Black, has been battling with kidney failure over the last 3 years so it is hoped especially for that differs from every other lender. you additional funds when you need • Meet the CCB work / study / training test. that the money raised will help people like Kylie who are suffering the ill effects of kidney disease. those who have them. A lot of times it is outside the For example, I had a client recently ability of the Managers that work there The ﬁrst claim will be able to be made in income tax returns for the period 1 July 2005 to 30 June 2006. To claim the Our recent workshops held in Noosa and Maroochydore focusing on proﬁt improvement strategies for business owners been using the same bank for many who was purchasing a 60 acre to do anything about this, and be rebate, you should: were a great success. Many business owners are now utilising Holmans Business Improvement Software (BIS) to set years. There are many advantages to lifestyle property in the Noosa assured, this can be quite frustrating proﬁt targets for 2005/6. using a ﬁnance/mortgage broker and • Keep your receipts or similar records of your child care costs, and I will try and present as many as I can Hinterland. The property was to be for them as well. Bank policies can at • Keep your reconciliation letter from the Family Assistance Ofﬁce Cairns/Port Douglas in the next few paragraphs. his owner occupied home, and the times make it difﬁcult to achieve your acreage was not income producing. wealth creation goals if gearing is part • Talk to your Holmans’ accountant for further information. It is expected Holmans’ new Cairns / Port Douglas ofﬁce will be fully operational in February 2006. Pamela Mills, Your ﬁnance broker should be Because the property was greater of your strategy. Rest assured there Business tip a senior Chartered Accountant from Cairns, has joined the ﬁrm and is the manager of our Cairns ofﬁce (see story your personal advocate, mediating than 50 acres, most of the lenders is almost always a solution available, this issue). I will be spending one week of every four over the next 12 months in Cairns assisting the growth and between yourself and the bank you he approached did not want to and a good ﬁnance broker is generally You should know (and monitor) your weekly and monthly breakeven point. If you know your gross proﬁt percentage and development of the North Queensland ofﬁce. choose to use. The result of this write the deal as a home loan, and one of the best people to speak to in your overheads from last year, you can calculate your own breakeven point by dividing your total overheads by your should be securing the best possible they were only going to lend 65% relation to this. gross proﬁt percentage. For example, if you make 34% gross proﬁt and have expenses of $100,000 you need to make Have a safe and merry Christmas. deal for you. Your broker will have a of the purchase price. The client $294,117 to break even, or $5,656 per week. great deal more experience dealing approached Holmans Lending and The Team at Holmans Lending are Greg Holman with different banks and ﬁnding the I was able to provide a lender who very professional and understand Salary and wage earners’ tip best deals for each scenario than would lend 80% of the purchase price how your loans can ﬁt into your overall ﬁnancial position. You can also Did you know if you record the business kilometers you travel in a logbook, we can pick the best method of claiming you do, and therefore should be able as a normal home loan. Needless to to provide a far more competitive package than you could on your own, say the client was ecstatic. access our team of 28 specialists in accounting and ﬁnancial planning motor vehicle deductions for you, with the aim of maximising your tax refund? Holmans awarded for business excellence Marketing tip in a much shorter time frame. There are that many factors that affect who can help you set clear goals and different lenders and that can cause a achieve your long term plans. After facing several weeks of a tough planning and management processes, You should monitor the following key performance indicators: the number of customers who purchase from you on judging process, Holmans took out business goals, testimonials from One thing that working in this industry great deal of confusion. All of these average in a day/week/month or whatever is appropriate to your business; the average sale value; and the number of has taught me is that every deal is factors affect you as the consumer, Jon Colley is an authorised representative of a Highly Commended award at the clients and staff, customer service ALCo, ABN 40 100 947 804. times a customer buys from you in a particular period. Then monitor these on a regular basis and introduce strategies recent Sunshine Coast Excellence in standards and how the business different, and for each loan scenario and it would take the average one at a time for increasing each of these KPIs. Business and Export Awards hosted differed from competitors. by the Maroochydore Chamber of Commerce. Director Greg Holman said the award was “recognition of the tremendous The Award ceremony took place business that Holmans has built over Australian Loan at the Innovation Centre at the the past 12 years, which has come Holmans Cnr Moorindil Street & Poinciana Avenue Company Pty Ltd University of the Sunshine Coast about as a result of the great team PO Box 820 Tewantin QLD 4565 ABN 40 100 947 804 where more than 450 Sunshine members who work for the ﬁrm and Tel: (07) 5474 1455 Coast business owners and staff the fantastic group of clients who Holman McGregor Financial Services Fax: (07) 5474 1350 attended the gala presentation. utilise the services of the ﬁrm”. Email: firstname.lastname@example.org Professional Investment (L-R) Holmans Directors Tony Rossiter, Holmans Lending Web: www.holmans.com.au Services Pty Ltd The judges awarded the accolade Greg Holman, Dan Robertson, Kym AFSL No. 234 951 to Holmans based on their business Chomley and Rob McGregor. ACCOUNTING, TAXATION, FINANCIAL SERVICES, MANAGEMENT RIGHTS AND BUSINESS DEVELOPMENT SPECIALISTS New pensions create New manager for Cairns ofﬁce Tax planning is now all Business gems Charity golf day raises $3175 for renal unit Risky business big opportunities Pamela Mills, Manager of Holmans’ new Cairns ofﬁce. year round Barry and Faye Roff have been operating Roff’s Fine Jewellery in Noosa’s More than 120 Holmans clients, fund managers, solicitors and real estate To launch the new year and as part of agents joined Holmans’ staff for the annual Charity Golf Day at the Tewantin premier shopping location, Hastings Street, for 25 years. We wanted to Holmans’ ongoing By Rob McGregor, As part of our ongoing business growth Holmans is The last few years have seen Noosa Golf Course. The Golf Day has become a much sought after event expanding into the tropics with the highly anticipated unveil some of their secrets to success... business growth, Director - Holman McGregor rapid growth in the market for tax on the local social calendar, with all players agreeing the day was a great Financial Services opening of our Cairns / Port Douglas ofﬁce in February success. Registration fees collected for the event were donated to Nambour Adam Rogers will effective investment products with Nicole Saunders 2006. We are delighted to introduce Pamela Mills, a highly (Accountant), General Hospital’s renal unit. join the ﬁrm as a an increased variety and quality of New legislation has qualiﬁed and experienced Chartered Accountant, who will Barry & Faye Risk Manager. His these. Once upon a time everyone Roff and Greg now changed the set-up and manage our new ofﬁce. role is to provide rushed into these products during Holman at Roff’s circumstances that Fine Jewellery in a complete range of insurance Pamela has more than 7 years experience in public June each year, making tax planning you may commence Hastings Street. solutions for individuals, families, practice, specialising in business services and taxation and a last minute thing. a superannuation and business owners. pension. Previously is currently completing her Masters of Applied Taxation. In addition to her Many tax effective products are now taxation expertise, Pamela has 6 years broad commercial experience in the Adam is a Bachelor of Economics, you had to be 55 open all year round and we have seen areas of franchises, insurance/super fund administration, electrical industry and has also completed a Diploma “and retired” to in the last few years some of the best and the oil service industry. of Financial Planning. He has more commence a pension. on offer close as early as March, with than 11 years experience in the When time permits, Pamela loves to relax down by the water by either sailing some products only being open for Practising for the next ski season: L-R: Ray Whiting, Rowena Lester You are now able to commence a ﬁnancial services industry, beginning yachts or scuba diving on the Great Barrier Reef. a couple of weeks. There are also What are your secrets to business success and longevity? L-R: Narelle Burke (Great Southern (Macquarie Margin Lending), Dan pension from age 55, even if you are Plantations), Adrienne Wild (resort Robertson (Director Holman McGregor his career with the Sydney ofﬁce of strategies to reduce tax that can only owner), Sonja Cordwell (Vanity Fair) Financial Services) and Rob Martin still working. You will not, however, MLC where he developed a strong The full range of Holmans’ services will be available to our Cairns / Port be implemented if they are started Customer service is one key to our success. We always provide the best and Annabel Harris (Noosa Fine Arts) be able to access the capital until passion for the personal insurance Douglas clients, including accounting and taxation, business development, earlier during the year. service possible and ensure that we get back to our customers if they have any you retire. queries. In this way we ensure their repeat business. Another key to success side of the business. He moved to residential and commercial lending and leasing, and ﬁnancial planning. Brisbane 10 years ago, and most This year we will be establishing a is the quality of our stock. We individually select each item, ensuring that we This creates two big opportunities in register for those who: provide high quality and unique pieces that are not found in other franchise recently worked as a Practice Cairns clients can call our free call number 1800 191 899. the lead up to retirement. jewellers. By focusing on both of these areas, we ﬁnd that we maintain a high Development Manager for MLC (it • Are expecting higher than normal level of customer satisfaction. was here that Holmans developed a The ﬁrst is simply the ability to move Investment opportunity income, close relationship with Adam). to a semi retired phase with income If you were to start your business today, what would you do differently? coming both from employment and If you are looking for an exciting agribusiness investment opportunity that • Will have substantial capital Adam is married with 3 children. from a superannuation pension. provides the potential for sound returns with outstanding tax beneﬁts, please gains, or, We would develop and maintain a comprehensive database of our customers Outside of work, he is a regular golfer call Holman McGregor Financial Services on 5474 1455 and ask us about Great so that we could easily keep in contact with them. We would also undertake L-R: Paul Langdale Hunt (Las Rias), Noel L-R: Jeff Rendell (National Australia more marketing activities to drive the business further. (some of you may have met him at The second is the ability to start Southern investments. Great Southern Finance is offering 24 month interest • Want to push their tax bill down Harris (Noosa Fine Arts), Adam Rogers Bank), Bart Jacques (Hotel Laguna), (Holmans’ new Risk Manager taking Stephen Winnett (Noosa Village Holmans’ golf days), squash player, your pension, with all the associated free ﬁnance on any Great Southern investment made prior to 30 December more aggressively. What is the best business advice you have been given? a well earned break before joining the Pharmacy) and Tony Rossiter (Director, and likes to play the guitar. After tax advantages, and at the same 2005, with no repayments until 15 July 2006. fast pace of Holmans) and Adam Tyley Holmans Accounting & Taxation) If you would like to be on this register growing up next to the beach, Adam time salary sacriﬁce all or most Invest more money into superannuation! (Professional Investment Services) please contact our ofﬁce ASAP and is keen to get back to the water and of your employment income to superannuation, which effectively Tax planning & wealth creation day ask to be put on the tax planning What do you like best about Holmans? test his skills on the surfboard. caps your tax at 15%. register. Your accountant or ﬁnancial The annual Holmans Tax Planning & Wealth Creation planner will then get in touch with you They are proactive...and we love the Golf Day! Vossy rides for charity Christmas ofﬁce closure If you are moving into this phase, it is Day is set for Tuesday February 14, 2006. This year our to talk about your situation. What do you love most about running a business in Noosa? Holmans were proud to support Brisbane Lions AFL captain The Holmans ofﬁce will be closed for vital to reassess your plans as there keynote speaker is Bob Ansett, an undeniable expert on customer service. Bob has a simple philosophy – combine Michael Voss recently as he supported Teen Challenge, Christmas/New Year holidays from are big tax savings to be had. Ask us We will of course be doing our normal Our customers are happy and friendly, with a large majority of them being optimism with knowledge and experience and you have the a world-wide charity organisation that ﬁghts alcohol and 12 noon on Friday 23rd December how – call Holman McGregor Financial tax planning activities, but for those who tourists enjoying a fabulous Noosa holiday. Also, being located in the heart ingredients for success - both personally and in business. of Hastings Street, we get to enjoy the passing parade of tourists – great to drug addiction in teenagers. 2005, re-opening for business on Services on 5474 1455. want to get a head start and potentially He will share his knowledge with us on customer service have access to more opportunities, watch, especially at Triathlon time! Holmans sponsored ‘Team Voss’ as he and Lions Monday 9th January 2006 at 8.30am. and how to get it right. please ring now – 5474 1455. teammates Jason Akermanis and Chris Scott joined the Happy Holidays! What 3 things do you believe you have to get right in business? Also on the program is Noel Lord with ‘Super smart investing’, Tony Rossiter Bicycling Australia Challenge, a charity bike ride from Coffs with ‘The top 12 tax tips for 2005’, Rob McGregor on ‘The big picture of Entrepreneurs’ tax offset 1. Cash ﬂow – having the funds to run the business, especially maintaining Harbour to Mooloolaba. Streamlined phone system our variety of high quality pieces. investing’ and Adam Rogers on ‘Business succession planning’. The Entrepreneurs’ Tax Offset is an They were among a maximum ﬁeld of 50 which pedaled 750km in six days, Next time you phone our ofﬁce you offset of up to 25% of the income 2. Staff – positive, welcoming and customer focused staff are vital to our doing the last leg from Brisbane, out through Redcliffe, up through Beerburrum will notice our new streamlined In terms of popular events this one is a close rival to Holmans’ annual charity business success. tax liability attributable to the STS and the Glasshouse Mountains, via Caloundra and on to the ﬁnish line. telephone system. With a focus on golf day. Don’t miss out on a great Valentine’s Day gift idea to get your partner on business income of STS taxpayers 3. Location – the right location ensures a good trafﬁc ﬂow of customers into customer service, the new phone track for wealth creation. Call 5474 1455 for more information and bookings. The ride raised more than $100,000 for Teen Challenge. whose annual group turnover is less our shop. system will allow the caller to select than $75,000. the department they wish to speak Sharon Staal, to by simply pushing a number on It applies to assessments for the Holman McGregor’s their phone e.g. “dial 1 to speak to of key performance indicators in your ﬁrst income year starting on or after Client Service Manager, recently How does your business industry. This will show how your someone in accounting and taxation” 1 July 2005. For most taxpayers, it instead of having to go through the will ﬁrst apply to their assessment organised an abseiling morning compare? business measures up against others central switchboard and receptionist. for the 2005/6 income year. For more for Holmans staff. in key areas such as gross proﬁt Sharon is pictured Our aim is to get you in touch with information contact your Holmans Have you ever wondered how your margins, turnover per square metre here launching off the person you want to speak to, accountant. Mount Tinbeerwah. business’ ﬁgures compare with others for retailers, how your expenses relate quickly and easily. in your industry? Your Holmans to your turnover and a whole host of accountant can provide you with an industry speciﬁc ﬁgures. For more Disclaimer: While all care is taken in the preparation of this material, no warranty is given in respect to the information provided and accordingly no responsibility for industry benchmark report that shows information contact your Holmans errors or omissions, including responsibility to any person by reason of negligence, is accepted by the companies or any member or employees of the companies. the averages (benchmarks) for a range accountant on 5474 1455.