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					                                       network NEWS
                                        Phone: (03) 9486 0122 Toll Free: 1300 851 335 Fax: (03) 9486 0133                     mini magazine
                                        4/86 Wellington Street, Collingwood VIC 3066 Australia
                                        Email: info@womensfinancialnetwork.com.au www.womensfinancialnetwork.com.au
                                                                                                                                     spring 2009
                                                                                                                               Editor: Susan Jackson EXECuTIVE DIrECTor




Introducing ms money                                or that the advice will be condescending;                    have? What if someone took 20 years of
                                                    they don’t trust the industry; they don’t                    conversations with women about money
                                                    have the time or money to get advice or                      and extracted all the bits that seem to
                                                    are not sure where to go or; they tried                      work best? What if someone created
                                                    to get advice but found it a less than                       tangible solutions to help you keep your
                                                    enjoyable experience.                                        finances organised and on track?
                                                    Ask financial institutions how they                          Would it be possible? Would it work? Could
                                                    approach providing advice to women and                       learning about money and organising your
                                                    they will start to murmur about it being                     finances actually become more engaging
                                                    a ‘niche market’. Not sure how 52% of                        and empowering? Could fun and finance
                                                    the population warrants being viewed as                      actually go into the same sentence?
                                                    a niche but assuming they do make an
                                                                                                                 We certainly hope so as that’s exactly
                                                    attempt to attract this ‘niche market’ the
                                                                                                                 what ms money is – the new destination
                                                    marketing all too often seems to evolve                      for all things financial. It’s not designed
                                                    from the perspective of let’s take what we                   to replace what we do at WFN but
                                                    do and make it a bit more female friendly                    to complement what we offer and to
                                                    ie lets put a female on the front of the                     help make basic financial advice more
                                                    brochure and just to cover all bases lets                    accessible to all women. There’s a great
                                                    put a briefcase in one hand and a baby                       website with heaps of useful information
                                                    in the other. And then they wonder why                       and loads of hints, tips and shortcuts.
                                                    women don’t flock to get advice and buy                      Fabulous money accessories to bring
                                                    their products. The lack of response then                    a bit of style to your finances (see pages
                                                    validates their belief that marketing to                     10 and 11) and the first ms money
                                                    women is just too hard, they are just too                    publication - ms money’s guide to the global
                                                    niche.                                                       financial crisis. For further information visit
                                                    Sadly, the reality is that financial advice for              www.msmoney.com.au
                                                    women en masse still remains somewhat
                                                    of an enigma. Sure there are plenty of
                                                    websites where you can download lots                              Inside this issue...
                                                    of useful info but how do you figure out
                                                                                                                      2    Susan Says..
                                                    what you need and then how do you find
                                                    the time to interpret what you need to do?                        3    Staff Update
Ask the average woman how she feels                 Too hard, too boring, maybe later……is
about her finances and the response                 the reality.                                                      4    Roving Reports
is likely to be that she finds it stressful,
                                                    Working one on one with an advisor
uncomfortable and a bit overwhelming.                                                                                 5    Ms Money / Did you know
                                                    who communicates in a language you
In fact the majority of women would opt
                                                    understand and in a manner that makes                             6-7 In Business/ Where do you go for…
for doing housework over getting their
                                                    you feel empowered and motivated is
finances organised. Interestingly most
                                                    the most effective solution. But again that                       8    Rule Changes For Same Sex and
males would prefer dinner with their mother         takes time and money and finding the
in law so unfortunately nothing seems to                                                                                   De-Facto Couples
                                                    right advisor is not always easy.
get them into housework mode.
                                                    But what if someone finally approached                            9    Is It Time To Start Investing?
Ask the average woman why they don’t                financial advice for women from a purely
seek financial advice and the responses                                                                               10   ms money order form
                                                    female point of view and then developed
will be: they feel the advice is not female         strategies that better replicated the
                                                                                                                      12   Need some advice?
focused/friendly; they fear being judged            existing patterns and behaviours women
Susan Says
Are you crazy is a question I seem to                      make a difference. I was smart enough and                     to provide a one stop shop where women
be being asked regularly these days.                       gutsy enough to do things a bit differently.                  (guys also welcome) can access basic
And it’s probably not entirely surprising.                 That was the motivation behind starting                       financial information together with some
Having survived the global financial crisis,               WFN and you could say the rest is history.                    great tools and lots of hints and tips to help
constantly changing legislation and                                                                                      them get on track with their finances. It’s
                                                           Growing WFN to where it is today has
deciphered a new economic landscape                                                                                      not designed to replace financial planning
                                                           been extremely rewarding and it’s tempting
you could be forgiven for thinking that a                                                                                as there are times when anyone can benefit
                                                           to just sit back and enjoy the fruits of a
good lie down and a few months of stress                                                                                 from some good advice but is more about
                                                           successful practice. But (and isn’t there                     the steps you need to take to be ready
free living would have been high on the
                                                           always a but) as much as I love working                       for advice and helping you work out what
agenda. But instead I decided to launch a
                                                           with all our clients, my true passion is                      you can do yourself. It’s all the best bits
new business. So am I crazy?
                                                           financial literacy. Having been involved in                   from 20 years of conversations with women
No, I’m just passionate about what I do.                   various financial literacy initiatives we have                about money.
Twenty years ago I was enticed into the                    seen first hand the impact that learning
financial services industry to get involved                the basics and having the confidence to                       So you see, I’m not crazy after all – just a
in a project aimed at providing financial                  use that knowledge can be. It’s the give a                    bit multiple personality from now on.
advice to women. It didn’t take me very                    woman a fish and you feed her for a day,
long to figure out the industry really didn’t              teach her how to fish and she can feed
have any idea about how to communicate                     herself for the rest of her life approach.
financial information for women and even
less idea about how to encourage more                      I also realised that juggling the traditional
women to work in the financial planning                    financial planning advice (with a feminine
industry. For someone who had grown up                     twist of course) with the financial literacy
in a household where there was no gender                   work we do was becoming harder to
bias and also not really encountered any                   manage. It was time for ms money to stand
workplace discrimination it was a bit of a                 on her own two feet or zebra print heels to
shock to suddenly find myself in such a                    be exact and so ms money was officially
male centric environment.                                  launched on October 7th. She has her
                                                           own website, range of money accessories
At that point it would have been pretty easy
                                                           and lots of practical advice. We’ll have lots
to walk away and go back to fashion or
                                                           of photos from the launch in next edition or
food, which were the two industries I had
                                                           you can visit the ms money website.
previously worked in and enjoyed. But
I realised two things. The first was that I                WFN will continue to provide holistic
had a gift for being able to communicate                   financial planning services where we work
financial information in a way that people                 one on one with clients in the bespoke style
understood and secondly, I really felt I could             we are known for. The aim of ms money is




       Disclaimer
       Network News was prepared and distributed by Women’s Financial Network Pty Ltd ABN 89 073 041 451 Australian Financial Services Licence
       No 303011.

       Network News has been prepared for general information purposes only. Any advice contained in Network News is General Advice which has been prepared
       without taking account of your objectives, financial situation or needs. Before acting on any General Advice you should consider the appropriateness
       of the advice in regard to your own objectives, financial situation and needs. We strongly recommend you obtain professional advice on your individual
       requirements before acting on any of the information provided.

       Although every effort has been made to verify the accuracy of the information contained in Network News, the Women’s Financial Network Pty Ltd, its
       officers, representatives and employees disclaim all liability (except for any liability which by law cannot be excluded) for any error or inaccuracy in, and/
       or omission from, the information contained in Network News, or any loss or damage suffered by any person directly or indirectly through relying on the
       information.

       Your privacy is important to us. If you believe that receiving Network News in any way intrudes on your privacy, please contact us and we will ensure you
       do not receive any similar correspondence in the future.




2      wfn • spring 09
Staff Update
                                                 Kim Earl -
                                                 Office and Client Administrator Extraordinaire
                                                 Kim is the newest member of the WFN team, having started with the company during June
                                                 in the midst of end of financial year madness. Her role is to keep WFN’s offices running as
                                                 smoothly as possible and you can feel free to ask her any questions. We are sure you will enjoy
                                                 her cheery disposition over the phone, as she assists you with your queries in any way she can,
                                                 managing the diary and taking care of your memberships.
                                                 Coming from a solid background in Customer Service and Sales she is always obliging and
                                                 reliable, no job is too hard or too small for this detail focused admin extraordinaire. Put simply
                                                 she is Susan and Skye’s support, so you can rest assured the team are always working diligently
                                                 and are able to put in that extra mile. Proud to be associated with WFN she is enjoying the
                                                 outstanding work ethics and lead by example approach portrayed by both internal and external
                                                 colleagues. Kim appreciates the little things in life; a nature girl through and through, when not
                                                 outdoors you will find her inside playing the piano or reading a book.




Sharemarket Investment Mentoring Program
                                 Always wanted to get started in shares but not sure where to begin?
                                 Want to learn the basics of share investing?
                                 Like to invest but feel you need some ongoing support?
                                 WFN will be running a share investment mentoring program where you can learn about share market
                                 investing and be shown how to get set up and start investing. The program will consist of an intensive
                                 one day session followed by a monthly session for the next three months. This gives you a chance to not
                                 only learn the basics but also put what you have learned into practice with some continued support and
                                 guidance. The program will be facilitated by Susan Jackson, Executive Director of WFN, so you can be
                                 sure it will be informative, fun and easy to understand. The program will be limited to 8 participants.

What can you expect to get out of the program?
  Understanding of the share market and how it works                      Be familiar with share terminology and language
  How to research shares quickly and easily                               What type of share investor you are
  How to set up a share trading account and buy & sell shares             The keys to building a robust, diversified portfolio
  Understand what records you need to keep                                How to deal with floats, mergers, buy-backs and other transactions
  Where to obtain additional information and research

What will you receive as part of the program?
  Share investment program (initial session and monthly meetings)
  Workbook and comprehensive handouts/notes
  Copy of “Shopping For Shares” by Tracey Edwards
  Portfolio models and initial share recommendations

Program Dates:
Initial session will be held on Saturday October 24th from 10.00 – 4.00pm at the WFN offices in
Collingwood. Dates for the three follow up sessions will be determined by the attendees.
Please contact Kim via email to info@womensfinancialnetwork.com.au or on 03 9486 0122 to enrol
or register your interest




                                                                                                                             wfn • spring 09     3
Roving Reports
Understanding the                              2009 Australian                            Royal Women’s
Global Financial Crisis                        Women’s Leadership                         Hospital
The events of the past 18 months will          Symposium                                  As part of the RWH inaugural Staff
be long remembered and trying to make                                                     Finance Week Susan Jackson presented
                                               Susan Jackson was pleased to be
sense of the GFC and how to deal with                                                     her ever popular Women and Money –
                                               invited to speak at the Melbourne
the impact on your personal finances is of                                                The Myths, The Dream And The Reality
                                               2009 Australian Women’s Leadership
concern to many. Susan’s presentations                                                    In Between seminar. This presentation
                                               Symposium.       Held in Melbourne,        looks at how women relate to money
to the Victorian Independent Education
                                               Sydney, Brisbane, Canberra and             and gives them strategies that can be
Union Conference and the Institute
                                               Perth the Leadership Symposium             easily implemented into busy lives.
of Chartered Accountants gave
                                               is hosted by the Australian Women
attendees a snap shot of what
                                               and Leadership Forum, which is an
happened, where we are now and the
                                               important national initiative designed
strategies you should be considering                                                         IF YOU WOULD LIKE TO
                                               to support the increased presence of
and was extremely well received. We                                                        ORGANISE A PRESENTATION,
                                               women in leadership roles across all
have no doubt this will continue to be a                                                   WORKSHOP OR SEMINAR FOR
                                               sectors. The project comprises a range
popular topic.                                                                                YOUR ORGANISATION
                                               of professional development programs,
Susan has now also condensed this              corporate advisory services, networking        PLEASE CONTACT SKYE
into a new book entitled ‘ms money’s                                                            FORSTER AT WFN
                                               opportunities and ongoing research.
guide to the global financial crisis’.                                                          ON (03) 9486 0122.
                                               Further information can be found at
For details see page 10.                       www.womensforum.com.au




                                                          women & money
                                                                  month
    The Office of Women’s Policy, in conjunction with the Queen Victoria Women’s Centre and WIRE - Women’s Information will
    be running a number of seminars and workshops throughout October and November as part of Women and Money Month.
    This is part of a three-year Women’s Financial Literacy program which commenced in 2008.
    WFN will be continuing it’s involvement with Susan Jackson facilitating a number of the 2-hour seminars.
    The topics Susan will be presenting are:
       Understanding the Global Financial Crisis;
       Women and Shares;
       Budgeting – or Managing Your Money;
       Retirement Ready and Demystifying Superannuation Planning.
    The workshops and seminars are open to all women and there is no charge to attend. For further details and to register to
    attend go to www.qvwc.org.au , phone (03) 8668 8106 or email women.money@qvwc.org.au




4        wfn • spring 09
            Did you
            know...
Not So Sharing
                                                           Dear Ms Money                           better off. Whilst this is always possible, if
Share ownership has dropped to its               I’m worried about interest rates and              we look at what the average interest rate
lowest level in decades, with 41% of             wondered if I should be thinking about            has been historically, it has not gone above
                                                 switching my mortgage over to a fixed rate?       7-8% (excluding the huge jump in the late
adults now owning shares. This is down
                                                 LJ, Thornbury                                     80s). It doesn’t make sense therefore to
from 55% in 2004. ASX Share Ownership
                                                                                                   lock into a fixed rate in excess of 8%. But
Study 2008                                       Dear LJ
                                                                                                   there is never any guarantee as to exactly
                                                 In Australia the official interest rate is back   what interest rates will do and they could
About 400 Reserve Bank of Australia
                                                 to where it was in the early 1960s so rates       go up or down, depending on the overall
cheques that were sent out as part of the        are now at a 50 year low. Assuming rates          economic environment.
$900 ‘cash splash’ bounced. The Federal          are likely to start going back up you would
                                                                                                   But if you are really concerned about the
Govt blamed a computer administration            think therefore that it would be the time to
                                                                                                   affordability of your mortgage you could
                                                 switch from being on a variable rate onto a
error. Source BRW July 2009                                                                        always just put part of the mortgage
                                                 fixed term rate. The theory being that, you
                                                                                                   onto a fixed rate loan. Alternatively, you
It’s Not The Degree That                         want to be on a fixed rate when interest
                                                                                                   could keep it on variable but increase your
                                                 rates are going up and on a variable rate
Counts                                                                                             repayments so that you build up funds in
                                                 when interests are falling. The problem is
                                                                                                   redraw. If you ever then find yourself in
Male postgraduates at the diploma                that the five year fixed rate (it’s not usually
                                                                                                   a bit of a mortgage squeeze you can use
or certificate level earn on average             worth fixing for shorter periods) is almost
                                                                                                   these extra funds to help whilst you get
                                                 2.50% more than what the average
$13,600 more than females, and male                                                                back on track.
                                                 variable rate is.
post graduates with masters based on
                                                                                                   And if you are really confused or stressed
                                                 If you locked into the higher fixed rate now
coursework earn $15,000 more than their                                                            about what to do then seek some
                                                 your repayments would increase and the
female counterparts. Source Graduate                                                               professional advice.     With the average
                                                 only way you would be ahead would be if
Careers Australia Survey                         interest rates started to go up very quickly.     mortgage     now    being    in   excess   of
                                                 In fact, mortgage rates would have to go          $300,000 it’s a big amount of money to
Plastic Not So Fantastic                         up by more than 3% within the first couple        make wrong decisions about.

The proportion of payments made by               of years of the fixed term for you to be any      …MM

debit card has increased from 18.20% to
26.50% demonstrating that consumers
are switching away from putting everything
on the credit card. Debit cards are now
expected to overtake credit cards as the
dominant payment form in Australia within
12 months. Source East and Partners

Aussies Rein In The
Spending
A recent IBISWorld report showed
Aussies have cut back on designer
fashion, cars, expensive restaurants,
international air travel, expensive furniture,
art, fine wine, magazine subscriptions,
donating to charities, and drycleaning.
Source news.com.au



                                                                                                                          wfn • spring 09      5
In Business                                                                                   General Business:General business will
                                                                                              be able to claim a bonus tax deduction
                                                                                              of 10% of the cost of an eligible asset
                                                                                              that the business has committed to
                                                                                              purchasing pre 31st December 2009
                                                                                              and have installed by 31st December
                                                                                              2010. This rate prior to 1st July 2009
                                                                                              was 30% with a June 2010 delivery
                                                                                              deadline. The investment minimum for
                                                                                              general business is $10,000.00 net of
                                                                                              GST.
                                                                                              For the purpose of meeting the threshold,
                                                                                              a business may be able to aggregate
                                                                                              substantially identical assets or sets of
                                                                                              assets. However, the ATO will determine
Business Tax Break                             1. Small Business: Turnover is under
                                                  $2 million dollars
                                                                                              asset ‘sets’ on a case-by-case basis
                                                                                              and caution should apply. In all cases,
Incentive Deadline is                          2. General Business: Turnover is above         the asset must be used predominantly
                                                  $2 million dollars
31st December 2009                             There are various rules regarding
                                                                                              in Australia.

Changes to the investment allowance                                                           What assets are eligible?
                                               partnerships, joint asset ownership,
announced on 3rd Feb 2009 were                 companies who have passive income                New tangible depreciating business
an extension /expansion of the Dec             streams and family trusts which require          equipment
2008 Small and General Business                more definition than this article allows,        New/demo motor vehicles & new
tax break incentive introduced as              so please check your individual situation        commercial transport
part of the Govts Nation Building and          with your professional advisor.                  Improvement or modification to an
Jobs Plan.
                                               What Rate of Deduction                           existing asset (not repairs)
The Investment Allowance, otherwise
known as the Tax Break is available for        Applies?                                       Ineligible Assets
any business that holds an ABN, who            Small Business: Small Business will              Used/second hand assets of any
acquires new depreciating assets that          be able to claim a bonus tax deduction           description
will be used in Australia for business         of 50% of the cost of an eligible asset          Software (classified as an intangible
purposes.                                      that the business has committed to               asset)
Provided all of the eligibility criteria are   purchasing pre 31st December 2009
                                                                                                Capital Works such as building
satisfied, the allowance can be claimed,       and have installed by 31st December
                                                                                                works and structural improvements
in addition to the normal depreciation         2010. The investment minimum for
allowance, as a tax deduction in the year      small business is $1000.00 net of GST.           Trading stock or Land
in which the asset was acquired, even if
                                                The following table summarises the key dates relating to the different rates:
your business is in a tax loss situation.
This allowance is unlikely to be extended       Business     Investment commitment Date of first use or installed Rate of
past December 2009. If you are                  entity       time (Inclusive)      ready for use (inclusive)      Deduction
considering acquiring new business
equipment or a vehicle, now is the time         Small
to be reviewing your options. Remember,         business     13/12/08 to 13/12/2009 By 31 December 2010                  50%
some assets may be in short supply so
allow plenty of time to ensure you do not       Other
miss the deadline.                              business     13/12/08 to 30/06/2009 By 30 June 2010                      30%

Defining Your Business                                       1/07/09 to 31/12/09           By 31 December 2010           10%
As the rate of the Investment Allowance
                                                             13/12/08 to 30/06/09          1 July 2010 to 31 Dec 2010 10%
varies, it is important to identify your
business under one of the two business
                                                Article Provided by Glenda Boschert, Director of Capex Finance Pty Ltd, a specialist
definitions advised for the purpose of
                                                commercial equipment and vehicle finance broker. Phone 03 9521 2266
this tax break.



6      wfn • spring 09
Assistance for Small                                   ATO Help Small Business                                   statement debt can apply for a GIC
Business Owners Facing A                               The ATO announced new measures
                                                                                                                free payment arrangement from now
Life Threatening Illness                                                                                        until 30 June 2010. They will have the
                                                       to help businesses with annual
The Victorian Govt has launched the                                                                             GIC remitted for a maximum period
                                                       turnover of less than $2 million that are
world’s first online resource for small                                                                         of 12 months, provided the payment
                                                       struggling to manage their tax debts in
business owners who are diagnosed                                                                               arrangement is maintained.
                                                       the current economic climate. Whilst
with a life threatening illness. The Small
                                                       most small businesses are meeting                        Deferred activity statement
Business Victoria Illness and Business
                                                       their obligations, over a quarter of                     payment due dates
Management Plan provides practical
support in the form of information                     small businesses are carrying a tax                      Small businesses can also request
sheets, checklists, contacts and case                  debt.      In a speech to the Council                    a deferral of payment on their next
studies. The plan guides business                      of Small Business of Australia, Tax                      activity statement.         Businesses
owners through questions such as                       Commissioner Michael D’Ascenzo                           with short term cash flow problems
how to inform staff, appointing Power                  confirmed his commitment to helping                      that pay quarterly and annually may
of Attorney, deciding what to do with                  small businesses by offering twelve                      be granted a deferral of up to two
the business and accessing support                                                                              months, with those that pay monthly
                                                       month general interest charge (GIC)
from a range of organisations.                                                                                  eligible for up to one month. Activity
                                                       free    payment         arrangements           and
The plan was developed in consultation                                                                          statements still have to be lodged on
                                                       deferring the payment date for activity
with Cancer Council Victoria, Health                                                                            time, however, no interest applies for
                                                       statements.         The      new      measures
Foundation, Chronic Illness Alliance,                                                                           the period of the deferral.
                                                       include the following:-
the Department of Human Services                                                                                Businesses need to contact the ATO
and many individuals who have faced                    Twelve month GIC free payment                            as early as possible on 13 11 42
life-threatening illness.                              arrangements
                                                                                                                to discuss their circumstances and
Further information is available at www.               Businesses with an annual turnover                       negotiate a sustainable interest free
business.vic.gov.au/illness                            of less than $2 million with an activity                 payment arrangement


 Where do you go for... Following is a list of professional service providers recommended by WFN.
 VENDOR ADVOCATE                                       ACCOUNTING AND TAXATION                                 LEGAL
 Douglas McKinnon                                      Leeanne Summers - The Bennett Group                     Catherine Gale
 Douglas McKinnon and Associates                                                                               Collaborative Family Lawyer and Mediator
                                                       Level 13, 390 St Kilda Road
                                                                                                               Level 29, 459 Collins Street
 Level 3 (East Tower), 608 St Kilda Road               MELBOURNE VIC 3004
                                                                                                               MELBOURNE VIC 3000
 MELBOURNE VIC 3004                                    P (03) 9820 3277 F (03) 9820 3491
                                                                                                               P 03 9620 0088
 P (03) 9510 2022 F (03) 9510 2700                     E leeanne.summers@bennettgroup.com.au
                                                                                                               F 03 9620 0080
                                                       W www.bennettgroup.com.au                               W www.catherinegale.com.au
 E douglas@douglasmckinnon.com.au
 W www.douglasmckinnon.com.au                          Provides full range of tax and accounting services to   Catherine Gale, Collaborative Family Lawyer and
                                                       all individuals and business owners.                    Mediator, serving separating and divorcing clients
 Douglas has 23 years of experience in all types of
                                                                                                               in Melbourne City, and inner Melbourne and the
 property and has developed the Vendor Advocate                                                                Melbourne metropolitan area, as well as East and
                                                       CONVEYANCING
 Process. Offers a free 20 minute consultation to                                                              West Gippsland, Victoria.
 WFN Members.                                          Mandi Morison - Sargeants – Port Phillip
                                                                                                               Having practised in the specialised field of Family
                                                       Level 7, 3 Bowen Crescent                               Law for over 30 years, in Melbourne and the
 FINANCE                                               MELBOURNE VIC 3000                                      Melbourne Metropolitan area, Catherine Gale
                                                       P (03) 9867 5551 F (03) 9867 4451                       is focused on helping couples going through
 Glenda Boschert                                                                                               separation and divorce, who want to avoid the
                                                       E mandi@sargeants.com.au
 Capex Finance Pty Ltd                                 w www.sargeants.com.au/portphillip                      anguish of drawn out arguments, to find the best
                                                                                                               solutions that will work for them and their families.
 PO Box 6165 St Kilda Road Central                     Mandi’s team guarantees the fastest delivery
 MELBOURNE VIC 3004                                    of Vendors Statements (Section 32s) and
 P (03) 9521 2266 F (03) 9521 3322                     contracts (generally within 24 hours) for your
 E Glenda@capexfinance.com.au                          sale (including an emailed PDF copy). They
                                                       ensure you and your financial institution are
 As a commercial finance broker, Glenda’s expertise    provided with all required documents to
 is arranging finance facilities for the purchase of   prompt a timely settlement of your sale or
 equipment and vehicles for any sized business.        purchase transaction.




                                                                                                                                           wfn • spring 09             7
Rule Changes For Same Sex
and De-Facto Couples
The Federal Government has legislated to       relationship, any financial dependence/         and a child under the Family Law Act which
provide recognition for same sex partners      interdependence, the existence of a             covers situations when children are born
and their children. In total 68 different      sexual relationship, whether the couple         into a relationship by means of surrogacy
Commonwealth laws have been amended            have any children, ownership of property        or artificial conception.
to achieve recognition of same sex             together and so forth. A couple can still be
                                                                                               Contribution splitting and spouse
relationships and their children, as well as   spouses if living apart temporarily, or apart
extending the rights available to opposite     for reasons of illness.                         contribution rules now extend to cover same
sex de facto couples. Some of the key                                                          sex couples. Changes to the legislation
areas of change include superannuation,
                                               Centrelink Entitlements                         governing super for Commonwealth
family law, social security and taxation and   From 1st July 2009, two people in a same        Government employees, the Defence
as with any change in legislation there will   sex relationship will now be treated as         forces, Judges and Parliamentarians will
be some good and some bad.                     members of a couple. Their assets and           provide that same sex partners and children
                                               income will be assessed jointly and they        of same sex relationships be accorded the
Following is a very brief snapshot of the
                                               will only be entitled to the lower partnered    same rights to death benefits as opposite
major changes and if you are impacted
                                               rate of pension/allowance.             Unlike   sex de facto partners. Children’s benefits
by these legislative changes but are
                                               other Centrelink changes, there is no           will also extend to children of same sex
unsure of what you need to do then we
                                               progressive integration of this – basically     relationships.
would recommend you seek professional
                                               on June 30th 2009 you are assessed as
advice.                                                                                        These changes may require super-
                                               an individual and then on July 1st, 2009
The definition of spouse will be extended      you are assessed as a couple.                   annuation members to update their death
to include a legal spouse and people who                                                       nominations with their super funds and/or
                                               It is likely that same sex couples will find
are:                                                                                           their will instructions.
                                               their pension entitlements are reduced
    In a registered relationship under state   and there is concern some elderly gay           Family Law Super Splitting
    or territory law,                          couples may find interrogation about
                                                                                               Same sex and opposite sex de facto
                                               their relationship intrusive and intimidating
    Living together as a couple on a           particularly. However, if they do not           couples are now covered by the Family
    permanent basis                            disclose their relationship then they risk      Law Act for property splitting purposes
This includes both opposite sex and same       being charged with fraud.                       on relationship breakdown (including
sex de facto partners. It also allows for                                                      superannuation). The changes will apply
multiple spouses.                              Superannuation Changes                          from 21 May 2008 or an earlier date
                                               Death benefits can now be paid direct to        proclaimed by Parliament. De facto
How do you determine “living                   a same sex de facto partner on the same         couples can opt-in earlier if they both
together as a couple”?                         basis as an opposite sex partner. There         choose to. What the changes mean:
A range of circumstances are taken into        is no longer the need to demonstrate
account when determining whether two           an interdependency relationship. The               Maintenance arrangements will extend
people are living together as a couple.        definition of ‘a child’ has been extended          to de facto couples.
These include the duration of the              to include a child of the member’s spouse          De facto couples can enter into binding
                                                                                                  financial agreements with respect to
                                                                                                  property and superannuation.
                                                                                                  De facto couples can have their super
                                                                                                  split on relationship breakdown.
                                                                                                  De facto couples can approach
                                                                                                  superannuation funds for information
                                                                                                  about their partner/former partner’s
                                                                                                  super entitlements.
                                                                                                  Property can still be divided between
                                                                                                  de facto couples even if one person is
                                                                                                  legally married to another person.
                                                                                               Warning: This family law legislation above does not
                                                                                               yet apply in Western Australia and South Australia as
                                                                                               those states have not yet conferred the appropriate
                                                                                               power to the Commonwealth.




8       wfn • spring 09
Is It Time To Start Investing?              of the biggest names in Wall Street          buying of quality companies with the
                                            teetering and one of the world’s great       aim of holding for the longer-term could
                                            financial institutions collapsing it would   be a smart move.
                                            almost seem to be impossible that we
                                                                                         Invest in companies with lower levels
                                            escaped unscathed.
                                                                                         of debt and consistent earnings.
                                            But in every market there is also            Those companies who have a market
                                            opportunity and the combination of           monopoly or have products or services
                                            lower share values, strong property          that are consistently in demand tend
                                            market and interest rates at 50-year
                                                                                         to be more resilient when times get
                                            lows is starting to look very attractive.
                                                                                         tougher. If you are using borrowed
                                            If you regretted not buying those
                                                                                         funds for investing it would be prudent
                                            shares, property or taking on that
                                            mortgage when prices were last at            to ensure the debt is no greater than
                                            these levels then now may be the time        40% of the overall portfolio value as
                                            to rectify that.                             this is likely to be conservative enough
                                                                                         to avoid a margin call if the market was
                                            So it is a time for an equal measure
                                                                                         to correct.
                                            of caution and courage - time to
                                            cautiously start reallocating some           Property Investments
                                            monies back into investment markets
                                                                                         With rental returns and demand having
                                            and the courage to ride out any short-
                                                                                         increased and interest rates at 50-year
                                            term volatility for the benefit of the
                                            longer-term gains. Wealth is never           lows property is looking very attractive.
                                            created overnight but by a combination       You will however have to compete with
Twelve months ago the collapse of           of persistence, time and sticking to a       first home buyers and so bargains are
Lehman Brothers was seen to be the          realistic plan.                              likely to be hard to find. Supply and
epicentre of the global financial crisis                                                 demand drives this market and while
                                            Following is a brief snapshot of some of
and financial Armageddon seemed                                                          there are more buyers than sellers
                                            the issues you might want to consider
unavoidable. It was seen to be the                                                       prices are likely to stay strong. Waiting
                                            in relation to your overall investment
death of capitalism and only a matter                                                    for this market to correct may prove
                                            strategy.
of time before we slid into another                                                      to be dangerous given the current
Great Depression.                           Defensive Investments                        property shortfall that exists in this
Twelve months later it appears that the     With cash rates being so low and a           country.
early and aggressive intervention by        lack of quality defensive investments        When investing in property location
Governments appears to have warded          it is likely to continue to be difficult
                                                                                         is the key and whenever you buy
off total financial meltdown. Markets       to generate a good return from the
                                                                                         you should always be thinking about
seem to have stabilised and economic        defensive portion of your portfolio.
                                                                                         the resale potential of the property.
data is being hastily revised upwards.      Whilst holding monies in cash protects
                                                                                         Properties in good areas with
In fact the Australian share market         capital value if you are investing for
has regained so much value since it         longer-term growth then cash is unlikely     sustainable demand and good local
bottomed in March 2009 that brokers         to deliver. If you are holding excess        amenities seem to always maintain
are calling it the FOMO rally - driven by   cash then it may be prudent to start to      their value. It’s better to pay a bit more
the ‘’fear of missing out’’.                redirect some monies back into growth        for a property like this than buy poorly
                                            investments. For monies held in cash         located property just because it seems
With a record $105 billion having
                                            try to maximise the return as much as        like a bargain.
been stockpiled into cash over the
                                            possible by using a combination of on-       The important thing to remember is
past 2 years there is certainly plenty of
                                            line savings and term deposits. For          that when you invest in either shares
money waiting for the right investment
                                            info on interest rates and comparisons
opportunities. But is now the right                                                      or property you are investing for
                                            go to www.canstar.com.au
time to start putting monies back into                                                   the longer-term. There is always a
investment markets?                         Share Investments                            strong likelihood that in the short-
The reality is that the global economy      Many share investments are still trading     term your investments could be worth
is still fragile at the very best and       at significantly lower prices than they      less than what you originally paid for
so the GFC show may still have an           were prior to the correction with many       them. Focusing on the longer-term
episode or two to run. When you             also offering attractive dividend yields.    benefits usually helps to reduce the
consider the damage that was done           Share prices are likely to continue to       stress associated with the short-term
with credit markets seizing up, some        have some volatility but some prudent        fluctuations.



                                                                                                              wfn • spring 09    9
     Need to get your finances in order?
     Here’s just the thing. You can order any of the ms money accessories by
     completing the order form, phoning our office or via www.msmoney.com.au

 ms money’s™ guide to the global financial crisis                                                             RRP $17.00
 Twelve months ago the world’s banking system collapsed and the global economy teetered on the brink of total collapse.
 Investors watched in shock as investment markets went into free fall and every day brought news of further doom and
 gloom. Fast forward to today and it seems the crisis has been averted but what really happened and is it all really over?

     How could sub-prime mortgages cause a global liquidity crisis?
     Why did Governments have to implement the Great Stimulus?
     How important is consumer spending?
     What are the signs of economic recovery?
     Is it now the time to play safe or a time to invest?
     How does the current environment provide wealth creating opportunities?
 ms money’s™ guide to the global financial crisis is an easy to read and easy to
 understand snap shot of what happened, why it happened and where we are now.
 It will help you separate the facts from the fiction and identify what you can do to
 maximise your financial position and create wealth for the future.



 ms money™ adopt a pig                                      RRP $14.95

 They say charity begins at home and what better way to start than by
 adopting your very own piggy bank. Once home your piggy needs
 regular feeding and loves nothing more than a diet of loose change
 and monies redirected from impulse buys. Over time your piggy will
 grow fat and full and will reward you with hours of enjoyment as you
 work out what to do with all those accumulated pennies.



 ms money™ receipts organiser                                                                                 RRP $17.95
 Looking for a system to keep track of your receipts quickly and easily? Need to get some order into your tax records?
 The ms money™ receipts organiser is a simple and practical solution that’s ideal for keeping track of:-

     Business or work related expenditure
     Tax deductible expenses
     Medical expenses
     Household or personal spending
 You can organise your receipts by month or type of expenditure
 - it’s up to you. Lost receipts, shoeboxes of paperwork and tax
 time stress will be a thing of the past once you start using the
 receipts organiser.




10      wfn • spring 09
                                      ms money™ spending cards                                                                                          RRP $9.95
                                      The ‘Spend Devil’ lives in all of us and yes she is a she. Whether she’s a BFF or casual acquaintance
                                      she’s the one responsible for those impulse buys on sale items you didn’t really need and a new pair
                                      of shoes you couldn’t resist.
                                      Whilst you can’t banish the Spend Devil completely from your life you can keep her under control with
                                      a bit of spending trickery. The ms money spending cards show you how you can appease the spend
                                      devil but at the same time only buy items you really need. So take back control of your money and
                                      start using the Ms Money Spending cards today.

                                                                         ms money™ spending diary                                                    RRP $24.95
                                                                         Do you ever wonder where your money goes? Keeping a spending diary
                                                                         will open your eyes to how much you spend on the little things in life. The
                                                                         morning coffee, latest magazine, money for parking, lunch on the run, a
                                                                         quick drink with the girls - it’s just a few dollars here and there and part of
                                                                         life in a world where there is just so much to do and so little time. But all
                                                                         those smaller purchases do add up and what seems like loose change
                                                                         can often add up to hundreds or even thousands of dollars over a period
                                                                         of time.
                                                                         The ms money™ spending diary is ideal to help you get control over your
                                                                         money by firstly tracking where your money goes, then showing you how
                                                                         to create a new spending plan and lastly what you need to do to stay on
                                                                         track with your plan.



                                                                                                            ms money Order Form
  Phone (03) 9486 0122 for further enquiries or to place your order
  Fax your completed order form (below) to (03) 9486 0133
  Mail your completed order form to WFN, 4/86 Wellington St, Collingwood VIC 3066

ms money products                                       Colour                                                    Qty.                    RRP                   Total
ms money spending diary                                 Pink                                                                             $24.95
                                                        Blue                                                                             $24.95
                                                        Lemon                                                                            $24.95
ms money receipts organizer                             Pink                                                                             $17.95
                                                        Blue                                                                             $17.95
                                                        Lemon                                                                            $17.95
ms money spending cards                                 N/A                                                                              $ 9.95
ms money adopt a pig                                    Pink                                                                             $14.95
                                                        Blue                                                                             $14.95
ms money’s guide to the GFC                             N/A                                                                              $17.00
Publications                                            Author
Women’s Guide to Property, 2nd Ed.                      Susan Jackson                                                                    $24.95
Why Saving Is Like Dieting and Budgets Don’t Work       Susan Jackson                                                                    $24.95
                                                                                                                                            Sub-total   $
All prices are inclusive of GST                                                                                                     Standard postage    $8.00
                                                                                                                                     Express postage)   $12.00
                                                                                                                                       Total Required   $

Name

Address                                                                                                                       Post code

Telephone                                                                                Mobile

Please enclose cheque (made payable to Women’s Financial Network) or complete the following credit card details: Visa Card         MasterCard       Diners        Amex


Card Number                                                                                                          Expiry Date



Name on Card                                                                        Signature




                                                                                                                                                  wfn • spring 09        11
Need some advice?
The Women’s Financial Network (WFN) was established in 1995, with the objective of
                                                                                                                 Advertising Rates
creating an organisation where women could access financial information, professional
advice and related services in a friendly, holistic environment.                                                 Do you have a product or service
                                                                                                                 to promote?
The Network is independently owned, operates on a fee for service basis and has no
alignment with any particular financial institution or product so you can be assured of                          Is your target market women and
always receiving advice that is in your best interests. You can choose between paying                            women in business?
an hourly rate or taking up a membership option whereby you pay a flat fee for a certain
                                                                                                                 Why not advertise in Network News
level of advice.
                                                                                                                 and reach over 2000 women!
Whether it’s taking the first steps with your finances or creating a long term financial
                                                                                                                                               Non   Layout
strategy, WFN can help you to move forward with your finances toward a more financially                            Space     Size mm Member
                                                                                                                                              Member Costs*
secure future. Our services include:-                                                                            Bus Card    60 x 95    $95     $125    $49.50
                                                                                                                 1/6 Page    90 x 95   $125     $170    $49.50

 Cash Flow Management                               Investment Advice                                            1/4 Page 65 x 190     $165     $220    $49.50
                                                                                                                 1/3 Page 90 x 190     $205     $275    $66.00
 How To Change Money Habits and                     Investment Strategies
 Behaviour                                                                                                       1/2 Page 190 x 130    $320     $400    $77.00
                                                    Understanding Your Risk Profile
                                                                                                                 Full Page 190 x 265   $560     $700 $125.50
 Understanding Your Money                           Advice on Direct Shares and
 Personality                                        Managed Funds                                                All prices are inclusive of GST.
 Money Coaching and Advice                          Portfolio Management                                         *In addition to member or non-
 Salary Packaging                                   Borrowing To Invest                                          member advertising costs.
 Redundancy Advice                                  Tax-Effective Strategies                                     Changes made to artwork after initial
                                                                                                                 setting will incur extra charges.

 Superannuation and Retirement                      Personal Insurance Advice
 Planning                                           Insurance assessments
 Choice of Fund                                     Life and Trauma Insurance
 Contribution Advice                                Income Protection Insurance
 Retirement Modelling                               Insurance under your                                        Specialising in:
 Transition to Retirement strategies                superannuation fund                                                    • Business Cards
 Self Managed Superannuation Funds                                                                                         • Letterheads
                                                                                                                           • Presentation Folders
 Pension and post retirement advice
                                                                                                                           • Flyers
                                                           Cash Flow                                                       • Brochures
                                                           Management           Investment                                 • Posters
 Property Advice                                                                Advice                                     • Music Books
 Advice on both residential and                         Superannuation and                                                 • Continuous Stationery
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 investment property purchases                                                                                  Our skilled Graphic Designers, Printers
 Sourcing and arranging of property                       Personal              Property                        and Binders will transform your ideas
 finance                                                  Insurance Advice      Advice                          and concepts into high quality printed
                                                                                                                products. With honest and reliable
 Mortgage reduction strategies
                                                                                                                service, Adept Printing caters for all your
 Referrals to other property specialists                                                                        printing needs.

                                                                                                                           Contact Ivan now for an
                                                                                                                            obligation free quote!

 To arrange an initial consultation or find out more about the services offered please                              33 Nevin Drive Thomastown 3074
 contact our office during business hours on 03 9486 0122 or visit our website at                                       T: 9464 0755 F: 9464 1048
 www.womensfinancialnetwork.com.au                                                                                E: ivan.adeptprinting@ozemail.com.au




12    wfn • spring 09                      This mini magazine is printed on environmentally friendly paper, 100% chlorine free, biodegradable and recyclable.

				
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