A key player on and off the field.

A key player on and off the field.

This month we share how PrimeWealth’s Senior Advisor, Angus Rodgers, has contributed to his community while doing what he loves. Since the age of ten Angus has been playing AFL and his love for the game continues today.

Angus began playing AFL at school before playing reserve grade for the Sydney Swans and has since played for Macquarie University for the past 10 years. He has been a key player on the field winning the competition’s best and fairest ‘Snow Medal’ in 2016. He is a team player and currently participating with his club in the push-up challenge for mental health commenting, “as COVID is presenting many challenges, one being we cannot train at all, it is a great way to check on your mates.”

Off the field, Angus has also been a key player at Macquarie University AFL as both a committee member for 3 years before contributing to the club at an executive level for 2 years. Angus assisted in ensuring the long-term viability of the club and establishing an inclusive culture for its 150 players, 5 teams, stakeholders, coaches and more. He was crucial in securing long term sponsorships and creating a diverse portfolio of funding to ensure the clubs 150 members, female and male alike can continue to play the sport they love. Angus is most proud of the clubs Woman’s premier team who won the premiership last year and has formed a strong relationship with the GWS Giants. He says, “It is awesome to see Woman’s AFL growing the way it is”.

Angus has been a key player on and off the field and the team at PrimeAdvisory commend Angus on his service to the community. We wish him and the club all the best for the interesting season ahead!

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COVID-19 Government Stimulus Packages & PrimeAdvisory Team Update.

COVID-19 Government Stimulus Packages & PrimeAdvisory Team Update.

Firstly, we want you to know we are here to support you every step of the way in what we are sure is an incredibly challenging time for you, your family, your income, your business interests and investments.

Below we detail the second stimulus package and will keep updating as more are released.  We have also made the decision for all team members to work from home and have outlined specific measures taken.

Stimulus Packages
On the 22nd March, the Federal Government announced a second stimulus package to address the economic fallout from the Coronavirus (COVID-19).

Seeking to provide timely support to those affected, the package targets three areas:
Individuals and Households, support for business and supporting the flow of credit.  This legislation is quite complicated and is moving very fast. Click here to view the latest blog for full details.

Our team is here to help you with this legislation, here to listen and here to see how it can benefit you and your business. If you would like to clarify anything with us, please call or email your advisor or the office.

Working remotely and efficiently
We would like to take this opportunity to share what we are doing to manage the impact of COVID-19 on our clients, our team and the community.  As of the 24th March we all left the office at Level 11 in Chatswood and are now fully functional and operating from home.

It is a different world working from home, however utilising technology our team is working remotely and efficiently and looking forward to upholding current service standards and delivering the same customer experience, hopefully even better!

Accordingly, some of the specific measures that we are implementing during the period of disruption are:

  • Our firm will operate effectively even if our physical offices are closed with staff exercising social distancing and working from home
  • Meetings will be conducted electronically using Zoom/Teams and if outages occur as have happened due to the strain on networks, we will revert to phone calls.
  • Mail will be collected twice per week and where possible we ask if you could kindly scan and email documents to the respective team member or reception@primeadvisory.com.au
  • Phones have been diverted and will be answered by a team member who will take messages and have your call returned.

Want to Talk?
If you have any questions or wish to discuss what measures we are taking to support you and your business through this period, please feel free to reach out to your PrimeAdvisory team member, they are looking forward to helping.  To get in touch with the office please call 02 9415 1511 or email reception@primeadvisory.com.au

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Support to get on track after the bushfires

Support to get on track after the bushfires

This 2019-2020 Australian bushfire season has seen over 18 million hectares burnt, destroying over 5,900 buildings including 2,800 homes. Lives and wildlife have been lost and the cost runs into the billions in lost revenue and clean-up costs.

With approximately 3.5 million businesses, individuals, and self-managed superfunds in the bushfire affected areas, the ATO have granted the following special concessions and relief to the affected postcodes;

  • An automatic extension until 28 May 2020 to lodge and pay activity statements, income tax, SMSF and FBT lodgements. The deferral does not apply to: Superannuation guarantee payments or lodgements, Large PAYG withholders (although they will be assessed on a case by case basis if they apply for relief from the ATO)
  • Fast tracking of refunds due
  • Income tax instalments able to be varied to nil without penalty
  • Tax debt recovery on hold until 28 May 2020.
    • Impacted taxpayers need to apply for special consideration. The ATO has stated they will, “consider releasing individuals and businesses from income tax and fringe benefits tax debts if they are experiencing serious hardship.”
    • Interest and penalties accrued by taxpayers in affected areas since the bushfires commenced will be remitted

Support for individuals and families is also provided through the disaster recovery payments, (a tax exempt Federal Government payment), available for those who are seriously injured, have lost an immediate family member or have lost or had significant damage to their home or major assets. Relief includes;

  • $1,000 for each eligible adult, and
  • $400 for each dependent child under the age of 16.
  • An additional $400 to help with education expenses for eligible children. These payments are automatic if you are the primary carer of a child affected by the bushfires after 30 June 2019.

Businesses are also eligible for support if they have suffered direct or indirect economic losses and may be eligible to access;

  • Recovery grants of up to $50,000 (tax free)
  • Concessional loans of up to $500,000 for eligible small businesses (including farmers, fishers and foresters) and non-profit organisations who have suffered significant asset loss or significant loss to revenue. The loan would be for up to 10 years and used for the purposes of restoring or replacing damaged assets and for working capital.
  • A range of State Government grants are also available.

The brave volunteer firefighters in NSW and QLD will also be eligible for payments of up to $300 per day, with a cap of $6,000. The payments will not be means tested and are tax-free, NSW and QLD.

If you have been affected by the fires this bushfire season and would like assistance in claiming and understanding your eligibility, please get in touch with the team today on 9415 1511 or email reception@primeadvisory.com.au.

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Joyce putting a smile on the faces of her community.

Joyce putting a smile on the faces of her community.

Last month we shared the contributions Chathuri is making in her local community. This month we shine a spotlight on Joyce from client services and how she contributes to her community while doing what she loves.

Joyce has been an avid singer her whole life beginning when she sang a duet with her best friend for the Salvation Army church at the age of 5. She always had a flair for music playing the cornet and tenor horn in the band for 6 years before returning to singing after she had kids.

After having some time off singing she has most recently joined  ‘Coastal a Cappella’, an all-female acapella group located on the central coast. Joyce started in the group as a candidate and quickly progressed to become a member after sending her audio for approval by her section leader and musical director. She has also recently auditioned to join the choir, traveling to Hobart in May to perform in the international competition.

Joyce describes the incredible sound created by the group that made her cry when she first listened to everyone singing, ‘This is Australia’. She was inspired and is now composing an arrangement of her own. She loves performing and seeing the enjoyment and reaction of others when listening to their performance with people smiling, stopping and children dancing.

Most recently, the group has performed Christmas carols at Mingara and participated in a Cancer fundraiser performing at Westfield. Joyce loves not only the social aspect and community but loves to give back and be part of her community.

PrimeAdvisory would like to congratulate Joyce on all her vocal achievements.

The next performance is scheduled for friends and family on Sunday, April 5 2020 at Narara Valley High Performance Space at 2pm. Tickets from Trybooking www.trybooking.com, or if you’re lucky, at the door!

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Staff Service Spotlight – Chathuri

Staff Service Spotlight – Chathuri

This month we shine a spotlight on our PrimeAccountant, Chathuri, as we share her service and commitment to the youth of today through the local Guides community.

Along with being a star accountant at PrimeAdvisory and studying to complete her Charted Accountant (CA) qualification, Chathuri assist in the local community as a Senior Guides Leader at Lane Cove.

Chathuri started Guides in her hometown of Sri Lanka at the age of 8. After seeing her cousin go on camps and wear a ‘cool’ white uniform with a tie and badges, Chathuri became a guide.

Upon coming to Australia and completing her university degree, she began working at PrimeAdvisory and moved locally. She wanted to contribute to her community, particularly the youth of today and, joined Guides in Australia in 2016.

Chathuri has supported the development of dozens of junior guides teaching them tangible skills such as cooking, craft, service and community participating in Citizenship services, Anzac Day and clean up Australia day with her team, to name a few.

She is dedicated to serving the Guides community for 2 hours per week plus additional camps and activities. She attributes this dedication to the leaders, group and kids in particular as she watches them become adults, form beliefs and opinions, and can see the difference and contribution she is making to these children.

PrimeAdvisory would like to congratulate Chathuri on her selfless service to our local community as she supports the future leaders of tomorrow.

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