WHAT’S NEW

F45 Condell Park on a winning streak

F45 Condell Park on a winning streak

With a background in Primary School teaching and hobby job as a group fitness instructor Meg decided to take the plunge with her husband Harley Borkowski and buy into one of the fastest growing fitness franchises F45 training located at Condell Park.

Since opening their doors 3 years ago they have won local business awards along with the highly prestigious F45 Division Champion award in Las Vegas this year. In the industry this is one of the highest signs of recognition which is very impressive for a relatively newly opened studio.

Meg attributed much of the success due to putting care into what they do, being in and working on the businesses and always looking to improve ensuring everyone is looked after. Her passion comes from a great community of trainers and members who experience rapid change to their own fitness, strength and self-thanks to the structured training provided by F45.

She explains opening the business was a steep learning curve and they both had a lot to learn particularly in the accounting area.   Meg exclaimed, “the PrimeAccounting staff could always answer my questions, they know what they are doing, and I could rely on them for any business financial needs.”

In being inaugurated on the “On Track for Life” wall we asked Meg what she defines as success and being on track for life means to her,  which she explained, “being able to do what I love, having a lifestyle to work for me and being financially stable”.

The staff at PrimeAdvisory would like to congratulate Meg on her recent achievements and welcome her, very deservingly, to the On Track for Life Wall!

Want your photo up there too? Get in touch with your Advisor and share your wins and you could be next! Contact us on 02 9415 1511.

Read More
Don’t let your Christmas generosity cause unwanted tax for your business

Don’t let your Christmas generosity cause unwanted tax for your business

When celebrating Christmas with your staff in the form of Christmas parties or gifts, be sure to keep accurate record as certain scenarios may attract Fringe Benefit Tax (FBT). Since 1986, the FBT system has existed in order to tax on things on the fringe, as the name suggests or outside of your salary package.

There is no separate FBT for the Festive Season however you may encounter several different circumstances when providing these events to your staff. This could also include fringe benefits provided by you to past and future employees and their associates (spouses and children), an associate or those under an arrangement with a third part to any current employees.

Implications for taxpaying body

If you are not a tax-exempt organisation and do not use the 50-50 split method for meal entertainment, the following scenarios may help you determine whether there are FBT implications arising from a Christmas party;

Implications for tax-exempt body

If you are a tax-exempted organisation the following situations may be relevant in determining the possible FBT implications arising from a Christmas party.

Understanding the Fringe Benefits Tax implications can be confusing and for a merrier Christmas your awareness of FBT and having accurate record keeping is important. Before planning your Christmas party, staff and client gifts please call us for advice.

If you any questions and what to know more please get in touch 02 9515 1511 or email us reception@primeadvisory.com.au.

Read More
Movember Special Release

Movember Special Release

Most people ignore it until it touches them or someone around them…

During this month of Movember, the team at PrimeAdvisory are taking on the challenge to raise awareness and support for prostate cancer.  In Australia, prostate cancer is the most commonly diagnosed cancer in men.

This challenge is one that is close to our hearts, as our team member Mark Greenwood was diagnosed with prostate cancer last year after a simple blood test.  16 months later after surgery, and a period of recovery the signs look good for Mark with all test results showing “clear”.

Sharing his experience, Mark exclaims, “I want to promote awareness of this insidious disease, it’s one of those things that is not dramatic but will slowly kill you. I understand that most people ignore it until it touches them or someone around them.”

When reflecting how this experience has changed Mark’s outlook on life he says, “Everything like this does change you in some way or another. There are so many things going on in the world and we are all busy, that it’s easy to ignore these things until maybe it’s too late.  I understand that a lot of guys my age do not even think about it.  My best mate even asked me how I found out I had it, and he is over 50 and never had a PSA test. Every male should be having this test over the age of 45.”

So how do you know if you have prostate cancer and are you at risk?

Your risk of developing prostate cancer develops from the age of 45-50 you should really begin having a simple routine PSA (Prostate Specific Antigen) blood test,  coinciding with regular check-ups with your GP.  Mark suggest, “You should see your GP annually and just get the test done. It’s a simple blood test, but you also need to create a history of readings to establish a base line.”

Early detection is key!   If detected early you have a 98% chance of survival beyond 5 years however if detected late you have a 26% chance of survival beyond 5 years.

To help raise awareness for this important cause, we are looking to raise $16,000 for the 16 months Mark has been clear!  That’s why we need you to get involved and help us by generously donating much needed funds to fight this disease.

We are calling this our 16/16 Challenge!

DONATE NOW

Read More
Interesting Stories, Interesting Places Event

Interesting Stories, Interesting Places Event

Last week we hosted some of our gorgeous clients in the relaunch of our office through our bi-annual “Interesting Stories, Interesting Places” Client Event. It was a night of networking and celebration as we shared in the success of our clients through the launch of our “On Track For Life Wall” as featured below.

This wall was designed to share in the successes of our clients which motivates us as a team daily to do what we do. From comfortable retirement, overseas holidays, new houses, new cars, well-educated children, successful business restructures, business awards, the list goes on! So, will you be next? Afterall, a goal without a plan is just a wish…

Further, we saw many long-standing clients mingle with each other and share in their successes finding a surprising lot in common as they venture down similar travel paths post retirement. PrimeWealth Practice Manager Marie Mauger commented, “My favourite part of the event was seeing some of my favourite clients finally meet and thoroughly enjoying each other’s company as they discovered all they had in common, not just their Financial Advisor!”

Client feedback included “Great night – I do like your renovation and thanks again for your generous hospitality.” So if you haven’t come to visit us for a while, come check it out and book in a time to meet with your Advisor or Accountant and get your finances sorted while you’re at it!

We hope to see you at our next Bi-Annual Event in March 2020 and please contact us if you would like support in achieving your personal or business goals to keep you on track, for life…

Read More
The real cost of late payments

The real cost of late payments

People power businesses, and when people are paid on time not only do you keep your employees stress lessened and enjoyment heightened but you also build a more productive workforce.

A recent survey performed by Xero found 43 percent of workers to be experiencing payday problems in Australia, rising to 49 per cent for those employed by small business.

This effected employees in varied ways with 68 per cent reporting feeling stressed and 45 per cent had missed payments such as mortgage repayments. These pay day problems come at a big cost with 43 per cent of employees feeling less engaged and productive at work and over a third (34 percent) of employees considering leaving their job as a result.

From all surveyed in the study the most common payment errors experienced by employees were incorrect salary payments (24 percent), followed by late salary payments (22 percent), underpayment of salary (22 percent) and overpayment of salary (10 percent).

As a small to medium business owner, sometimes you must do it all, but finances may not be your strong suit. It’s no surprise that 73 percent of business owners feel much more optimistic about their business when they have positive cash flow.

This further goes to impact the personal wellbeing of business owners with more than 40 percent of owners claiming late payments to affect their mental health, 43 percent of owners losing sleep over their businesses cash flow, and 37% of entrepreneurs have considered giving up because of cash flow issues.

This sounding all too familiar? Don’t struggle in silence, that’s what we are here for. Please give us a call, 02 9415 1511 or contact us and we can get you on track.

Read More

SIGN UP

For our free e-newsletter

TAKE A HEALTH CHECK

For our free e-newsletter

Personal