Thursday, June 23, 2011

Coffee Time Minutes for 22nd June 2011

Welcome

Welcome to our new visitors.

Apologises

Selma and Kellie

Who we are?

Small and Home Business owners meeting to build relationships from other SBO’s.

What is CT?

Relatively casual meeting group, where you can network, talk about business ideas and strategies, and learn from one another.

Where?

Tuggerah’s Zenith Centre.

When?

At 10.30 am on the 2nd & 4th Wednesdays of the month. Arrival 10.25 am for 10.30 am start. (Runs for about 1 hour)

Common Courtesy
Note – Please have courtesy for others who are speaking. We have had a few complaints due to people having their own conversations within the meeting. Please respect the others while they are speaking. As of July 2011 there will be a $1 fine, all money will be going to the IRIS foundation

Update on our Raffle?

This weeks raffle raised $36.00 bring the total raised $406.05 this year for the Iris Foundation in 2011.

This year we will continue with our Raffles and donation to Iris Foundation. This year we will do a raffle again for the Iris Foundation. We will be looking for prizes/donations up to the value of $10. Its will be up to you if you would like to participate and none should feel obliged. Tickets will be $2 each, or three for $5.

Updated Members

We have over 105 members for Coffee Time. You can come when you are free, never feel obligated and always feel welcome. I have a list with everyone who has come along to Coffee Time; I am updating the distribution list. If you would like to be included, please check your details are correct, update where necessary and add if not on there.

There are 2 business card holders, please feel free to put your business cards in, these are passed around each meeting, and feel free to support each other and utilize their services.

Networking:
· Coffee Time 13th July
· Coffee Time 26th July
· Fridays round the coast SBNG – 3rd Friday here at Zenith
· BWC lunches on each month – for more info contact Kym Williams
o July 6th
o August 3rd
o September 7th
· 15th July – Westpac Chopper Race Day – one table booked.
· Success Women’s Networking Luncheons
o 14th July – at the Diggers The Entrance
o 1st September
o 1st December

Expo’s in 2011
· 22/6/11 Central Coast Women’s Network – Mingara Tumbi Umbi – was really good

Advertising with Buy Local
· B2B – online buy local $22 per month – see B2B or www.buylocalconnect.com.au
· Book now and sign up – and you will get couple of months for free (coffee time members only)

Education:
2011 – Visit BEC upstairs or log on to www.ccbec.org.au
Courses:
15/6/11 - Business planning
13/7/11 – Importing and Exporting

Action Coach is running Business Mastery – Business Cart IV. If interested contact Michelle on 4369 3704

Update:
· Melbourne Cup – Wyong Race Club
· Buy Local Key Rings – going coin donation – money raised goes to the Iris Foundation
· Slither and Slumber – Friday the 5th August at the Australian Reptile Park.

Wins:

Jenny – 40 local disabled kids into work on the coast in 6 months, of that 12 of them in traineeships
Dean – as part of LJHOOKER has been able to raise money for “Give me 5 for kids”
Dean – won a holiday to the Gold Coast
Dawn – Through the buy local, money was raised through the workshops, the money for participants will be going to Iris Foundation. Thanks to LBH Promotions and B2B Buy Local
Tarnia- Spoke at her Primary School for their 50 yr reunion. Talked to the year 1’s.
Toni – completed the 5 lands walk on the weekend with family. Walked from MacMasters beach to Avoca beach
Jay – Coffee Time Member under took the workplace assessment and received a $500 voucher towards assisting their business making it safer.
Nicolette – Photographed all items at the “art to wear Festival” which will be distributed around Australia. Great promotion for her. Also the photographer at today’s Business expo.
Dawn – Even though the ball was cancelled, the virtual guests donation going ahead with Events with Pizazz. $10 per person going to the 30.6.11
Lyn – Had a breakfast to thank all supporters and sponsors of Buy Local. They will all be on board for next year aswell.


Who are you & what do you do: 30 Sec story about you

Tarnia Gurney
Gurney Financial Services www.gurneyfinancialservices.com.au
Planningwerx4U www.planningwerx4u.com.au

Marama Carmichael
Essential Wellbeing http://essentialwellbeingforbusiness.com

Karen Teunissen
CRS Australia www.crsaustralia.gov.au

Bev and Dawn
Iris Foundation www.irisfoundation.org.au

Dujon Zivic
Encore 8 www.encore8.com

Julie
Reflecting Living www.reflectiveliving.com.au

Toni Fountain
Insight Health www.insighthealthaustralia.com.au

Dean Brown
Woodview Home Loans & LJ Hooker Financial Lending www.homeloansandfinance.com.au

Jenny Abourizk:
Job Centre Australia www.jobcentreaustralia.com.au

Lyn Thompson
Buy Local online/ LBH Promotions/ B2B www.b2bwithatwist.com.au

Nicolette Gregory
Photographer onefitone@bigpond.com

Tony Bourke
AIIB Insurance Brokers www.aiib.com.au

Jay Lewis
Work Cover NSW www.workcover.com.au

Kate Morris
Events with Pizazz www.eventswithpizazz.com.au



Today’s Presentation: Jay from Work Cover


1/12/10 is when all states and territories started on the changes to work cover and OH&S.
Legislation to be called the National Harmonised Legislation
OH&S now to be known as Work, Health & Safety
Employers will now been known as PCBU – Person conducting business undertaking
To support employers & employees
Main responsibility is Not to harm each other
Employees will now be known as a worker
Any staff whether contractors, sub contractors, casual, temporary, trainee, volunteers will be known as workers
There is 2 components to work cover – safety and education and workers compensation
PCBU are to be more proactive in their business and about safety in the workplace
More common sense
Employer needs to make sure nothing can hurt their workers
Working towards a legal obligation
PCBU to remove all hazards and risks in workplace
PCBU have a duty of care
Work cover have risk management consultants available to meet with business owners and help them move forward with new legislation.
All workers must be compliant with their PCBU’s, and obey all rules and regulations
PCBU must tell all workers including contractors, about regulations, rules, exclusion zones, safety, etc
All PCBU’s & workers have a duty of care to each other and the workplace
All PCBU’s must ask their workers how they wish to be informed of rules and regulations, whether that be a meeting, induction, bbq, memos, etc.
Jan 2012 is when the ACT will be put out.
Act – is what you need to do
Regulations – is how to do it
Guidance material – instructions

Jay has workshops, one on one meeting and assessments currently available. If you wish to have a free appointment with Jay please contact him on jay.lewis@workcover.nsw.gov.au

Thanks Jay for your time and information today.

Today we raised $36(included in total for year). Thanks for your support. Today’s winner is Dujon, Thanks to Dawn and Bev from Iris Foundation who has donated today’s prize.

Planningwerx4u has Business Planning Cds for $50 each, if you would like one please let Tarnia know.

Thanks and see you next time

NEXT MEETING: 13th July
Presentation – Julie Mac – Change of Mind Set

Tuesday, June 14, 2011

Coffee Time Minutes - 8th June 11

Welcome

Welcome to our new visitors.

Apologises

Nicolette, Julie Mac, Kate, Selma, Toni and Dean

Who we are?

Small and Home Business owners meeting to build relationships from other SBO’s.

What is CT?

Relatively casual meeting group, where you can network, talk about business ideas and strategies, and learn from one another.

Where?

Tuggerah’s Zenith Centre.

When?

At 10.30 am on the 2nd & 4th Wednesdays of the month. Arrival 10.25 am for 10.30 am start. (Runs for about 1 hour)

Note – Please have courtesy for others who are speaking. We have had a few complaints due to people having their own conversations within the meeting. Please respect the others while they are speaking. As of July 2011 there will be a $5 fine, all money will be going to the IRIS foundation

Update on our Raffle?

This weeks raffle raised $27.00 bring the total raised $371.75 this year for the Iris Foundation in 2011.

This year we will continue with our Raffles and donation to Iris Foundation. This year we will do a raffle again for the Iris Foundation. We will be looking for prizes/donations up to the value of $10. Its will be up to you if you would like to participate and none should feel obliged. Tickets will be $2 each, or three for $5.

Updated Members

We have over 105 members for Coffee Time. You can come when you are free, never feel obligated and always feel welcome. I have a list with everyone who has come along to Coffee Time; I am updating the distribution list. If you would like to be included, please check your details are correct, update where necessary and add if not on there.

There are 2 business card holders, please feel free to put your business cards in, these are passed around each meeting, and feel free to support each other and utilize their services.

Networking:
· Coffee Time 22nd June
· Coffee Time 13th July
· Coffee Time 26th July
· Fridays round the coast SBNG – 3rd Friday here at Zenith
· BWC lunches on each month – for more info contact Kym Williams
o July 6th
o August 3rd
o September 7th
· 15th July – Westpac Chopper Race Day – one table booked.
· Success Women’s Networking Luncheons
o 28th July
o 1st September
o 1st December

Expo’s in 2011
· 22/6/11 Central Coast Women’s Network – Mingara Tumbi Umbi

Advertising with Buy Local
· B2B – online buy local $22 per month – see B2B or www.buylocalconnect.com.au
· Book now and sign up – and you will get couple of months for free (coffee time members only)

Education:
2011 – Visit BEC upstairs or log on to www.ccbec.org.au
Courses:
15/6/11 - Business planning
13/7/11 – Importing and Exporting

Action Coach is running Business Mastery – Business Cart IV. If interested contact Michelle on 4369 3704

Update:
· Iris Foundation is having a treasure hunt at the buy local festival. Looking for donations - $20 for each business. Contact admin@irisfoundation.com.au
· NSW Business chamber has an alliance with local chamber of commerce’s, speak to Daniel Farmer or your local chamber
· Melbourne Cup – Wyong Race Club
· Buy Local Key Rings – going coin donation – money raised goes to the Iris Foundation


Wins:

Unique Security – Mark and April Izzard – just won another contract for CCTV’s aswell as recently installing and monitoring CCTVS for the Shire.
Leeanna – New staff members, in talks with a lingerie company for promotion work
Julie – fundraising for Salaras (Cancer Patients on the Coast) raised $164 in a couple of hours through Reiki and Alternative healings.
Cassy – Best Signs – supporting a local kid go to Face book and like Bryce Cause. They will donate money to the cause
Rob – in talks to buy another telecommunications company.
Kellie Targett – 50% growth in her business in 12 months

Who are you & what do you do: 30 Sec story about you

Tarnia Gurney
Gurney Financial Services www.gurneyfinancialservices.com.au
Planningwerx4U www.planningwerx4u.com.au

Marama Carmichael
Essential Wellbeing www.essentialwellbeing.com.au

Kellie Targett
Insurance Adviser net ktargett@iaa.net.au

Leeanna
Intimate Whispers www.intimatewhispers.com.au

Karen Teunissen
CRS Australia www.crsaustralia.gov.au

Bev and Dawn
Iris Foundation www.irisfoundation.org.au

Kathy Bree
Coffee News www.coffeenews.com.au

Rob Buckworth
Interactive Telecoms www.interactivetelecoms.com

Luke Beeby
Foresight Business foresight_business_services@hotmail.com

Casey Targett
Best Signs www.bestsigns.com.au & www.grassads.com.au

Dujon Zivic
Encore 8 www.encore8.com

April Izzard
Unique Security www.uniquesecurity.com.au

Phil Evans
People Stuff www.peoplestuff.com.au

Jackie Williams
Yellow Brick Road www.ybr.com.au

Julie
Reflecting Living www.reflectiveliving.com.au

Martin Odell
Future Works martinodell@aapt.net.au


Today’s Presentation: Budgeting by Tarnia from Gurney Financial Services

· In today's tough economic climate, it is more important than ever to budget and establish a savings plan. This is because budgeting is the best way for you to take control of your finances, save money and plan for the future.

· Some times it was easy to get away with a more casual approach to financial planning: you could be sure of earning enough to pay your bills, even if this meant looking for some extra overtime or taking a second job for a while. But those times are rare and wasted if you do not take advantage of them.

· A sound budget and a savings plan will help you achieve your immediate needs and long-term financial security. Few individuals or families know just how they spend their money.

· They know that at the end of their pay period - weekly, fortnightly or monthly - it is all gone. A budget will change this. It is the direct and sensible approach to personal money management.

· Basically, a budget is a financial plan that itemises an individual's or a family's spending and helps accomplish short-term and long-term goals.

· Its main purpose is not to get you out of trouble - although it will help. Better still, it will keep you out of trouble in the first place.

· In fact, a budget is really an essential part of everyday life. Without a budget it just is not possible to cope with those unexpected bills and to see at a glance, how you can most easily cut back you’re spending.

· The ultimate aim of budgeting is to ensure that you can:

o Adequately meet all your financial commitments and
o Have some money left over to save.

· Set a savings goal that is within your reach and will not put a strain on your budget. Even if you begin by saving only a small amount each pay period, this will add up over a year to a respectable amount.

· Everyone will have his or her own savings target. But, as a general rule, we suggest you aim to save 10 per cent of your gross annual income: five per cent for short-term aims and five per cent for longer-term intensions. While this may not be practicable now, it is worth aiming to reach this goal in the future - and sooner rather than later.

· People with young families should aim to build up an emergency fund equal to three months take-home pay in case of retrenchment or emergencies. Remember:

o Your savings will help you through those difficult times and emergencies;
o Savings will free you from day-to-day money worries;
o If you have money saved, you can use it in emergencies instead of credit cards (with their high interest charges);
o By saving, you will establish a financial track record, which will be important when you apply for a loan for a major purpose (house, land or car);
o Your longer-term savings will help you build up income-producing investments for a better, more secure lifestyle;
o By saving and investing responsibly, you will contribute towards Australia's future by helping to create a national savings pool to fund our development and reduce our dependence on foreign capital;
o A dollar saved is a dollar earned

· Deciding to budget does not mean that you have to cut out spending on discretionary items that are important to your lifestyle.

· But you should be realistic about them and become a disciplined shopper (as well as a disciplined budgeter). This will help make your money work better for you. Here are just a few ideas on this important topic:

o Consider buying lower priced "generics" or items of a similar nature to your regular purchases;
o Switch to less expensive versions of goods or services.
o Shop harder for the best possible deals on items you must have;
o Avoid buying items that are of limited value to you or your family;
o Become a comparison shopper: watch the advertisements and be aware that prices vary from day to day on a whole range of goods from furniture to food;
o Watch for genuine sales and specials;
o Deal with shops, which offer good service and will take goods back without argument if they are unsatisfactory.
o Shop for seasonal specials and stock your freezer. But buy in bulk only when you know you can use everything you intend to buy - otherwise you will have to throw a lot of it out. Waste is costly.
o Phase your purchasing of big items like furniture and major electrical goods over three to five years and buy only when you really need and can afford the items;
o Think about buying good second-hand items - check-out auctions and garage sales;
o If you are holding money in a special savings account, you can often use it to pay for an item - and get a discount for cash;
o Buy Australian-made goods in preference to imports - buying Australian helps save jobs and reduces the nation's overseas payments and debt problems.

· But you should be realistic about them and become a disciplined shopper (as well as a disciplined budgeter). This will help make your money work better for you. Here are just a few ideas on this important topic:

o Consider buying lower priced "generics" or items of a similar nature to your regular purchases;
o Switch to less expensive versions of goods or services.
o Shop harder for the best possible deals on items you must have;
o Avoid buying items that are of limited value to you or your family;
o Become a comparison shopper: watch the advertisements and be aware that prices vary
o from day to day on a whole range of goods from furniture to food;
o Watch for genuine sales and specials;
o Deal with shops, which offer good service and will take goods back without argument if they are unsatisfactory.
o Shop for seasonal specials and stock your freezer. But buy in bulk only when you know

· You can use everything you intend to buy - otherwise you will have to throw a lot of it out. Waste is costly.

o Phase your purchasing of big items like furniture and major electrical goods over three to five years and buy only when you really need and can afford the items;
o Think about buying good second-hand items - check-out auctions and garage sales;
o If you are holding money in a special savings account, you can often use it to pay for an item - and get a discount for cash;
o Buy Australian-made goods in preference to imports - buying Australian helps save jobs and reduces the nation's overseas payments and debt problems.

· Try to be as realistic as possible. Do not make the budget so tight and demanding that it will be impossible to achieve your goals. Do not make it too generous - or you will destroy your incentive to budget and save. Be flexible - but disciplined.

· Partners should budget together. But involve everyone in your household - tell them about your budget and savings goals and why it is so important to achieve them.

· Do not be discouraged if you cannot get your budget to work - try again. Once you have set up a workable budget, you will find that budgeting becomes a habit.

· Today is the best day to begin budgeting.

· There are two main items to consider: your INCOME and your EXPENDITURE.

In the section headed INCOME, list all your incoming money (after tax).

· Expenditure:

o When you begin compiling your expenditure, it will be helpful if you have by you all the receipts from last year's bills that you can find.

o If you do not have these, keep a detailed list of your spending over the next few months. If you see some items that you can cut back on, note them for future attention.

o If you look after your possessions, they will last longer. Money spent on maintenance to extend life of a costly item can be money saved.

o Learn to be a good supermarket shopper. Make up a shopping list - and stick to it. Avoid impulse buying. Once in a while it is OK to buy something you do not really need. But if you let impulse shopping get out of hand it will overload your trolley and destroy your budget.

o When you have completed your Budget, add up all your income and expenditure and subtract the expenditure total from the income total. What is left over is your spare money for the year.

o As this is a yearly figure, you will need to divide this by 52 to bring it down to a weekly figure, by 26 to make it fortnightly or by 12 to make it monthly. This money is yours to spend or to save; we suggest you save it each pay period.

· You may find that you have a shortfall - in fact that you are spending more than you earn.

· If this is the case, you will need to go back and reassess your expenditure or, look for ways to increase your income. You may have made a mistake with your calculations. Or you may need to cut down on some area of your spending: entertainment, gifts, clothing, and luxury items.

· It is better for you (or your family) to make these decisions, rather than have them taken out of your hands.

· This will enable you to see at a glance the payouts you will have to make each month to the nearest dollar. This means you can calculate the minimum amount you need to have available to meet your bills.

· Some months you will be more heavily committed to repayments than in other times of the year. Be sure you are adequately covered so you will not be short of money.

Debt Management
To take control of your debt, the first thing you should do is a budget. This will allow you to see exactly how much you are earning and spending. It will also show where you are overspending and possibly where this expenditure can be reduced.

If the burden of debt is starting to take control of you, for some people to consolidate all of these debts into the one loan would be the best solution. Consolidation allows you to lower your overall interest rate and more easily manage your debt.

Loan consolidation will save you interest where your new repayment and loan term are at least equal to your total current loan repayments and loan terms. Otherwise, you could be converting your short-term debts into longer-term debt and be paying more interest in the long run.

One option is to use the equity in your residential premises. If you have owned your home over the last few years, with the fuelling property prices you are likely to have the capital to cover your existing mortgage, as well as other loans and credit cards. You would need to refinance your home loan which usually offers more competitive interest rates than Credit Cards and Personal Loans.

By paying less interest, more of your repayment can be used to reduce the debt. This assumes that you maintain the same overall repayments.

You should ensure that your existing home loan offers the features and flexibility to repay sooner rather than later.

To ensure you take control of your debts:

Review all your debts regularly;
Close credit card and store accounts and have the discipline not to obtain more. Don't buy on credit; you are only using money you don't have.
Credit cards can work well and to your advantage, as long as you use them correctly. Only use the interest free period.
If you find yourself on the credit card round-a-bout, (that is every time you pay some money off you credit card you go out and put more on it), you have to STOP. You are spending more than you're earning.
If you do retain a credit card then ask the institution to reduce the limit to the minimum needed - this should be what you can comfortably repay each month.
Every time your statement arrives pay twice the required amount. Realise that you can do without it. If you don't stop using credit you will ALWAYS be in debt.
Resolve to spend money where it makes sense and cut back where it doesn't, paying particular attention to cash and expenditures. Your cheque book and credit card statements reveal big-ticket items, so that monitoring daily spending for a while may show where your money is slipping away in ways that don't give much satisfaction.
Most importantly a disciplined approach is needed to ensure debts are not increased to fund unnecessary purchases - a good rule of thumb is that your liabilities should not exceed your assets - if they do - it probably means you have borrowed for the wrong reasons.
Remember IT IS NEVER TOO LATE to take back control.

Review your spending patterns and curb these to fit within your budget!


The advice contained herein does not take into account any persons particular objectives, needs or financial situation. Before making a decision regarding the acquisition or disposal of a Financial Product persons should assess whether the advice is appropriate to their objectives, needs or financial situation. Persons may wish to make this assessment themselves or seek the help of an adviser. No responsibility is taken for persons acting on the information provided. Persons doing so, do so at their own risk. Before acquiring a financial product a person should obtain a Product Disclosure Statement (PDS) relating to that product and consider the contents of the PDS before making a decision about whether to acquire the product.
Today we raised $27(included in total for year). Thanks for your support. Today’s winner is Phil Evans, Thanks to Leeana from Intimate Whispers who has donated today’s prize.

Planningwerx4u has Business Planning Cds for $50 each, if you would like one please let Tarnia know.

Thanks and see you next time

NEXT MEETING: 22nd June
Presentation – Work Cover – Jay Lewis

Sunday, June 5, 2011

Coffee TIme Minutes - 25th May 2011

Welcome

Welcome to our new visitors.

Apologises

Dujon & Kathy, Bev and Dawn

Who we are?

Small and Home Business owners meeting to build relationships from other SBO’s.

What is CT?

Relatively casual meeting group, where you can network, talk about business ideas and strategies, and learn from one another.

Where?

Tuggerah’s Zenith Centre.

When?

At 10.30 am on the 2nd & 4th Wednesdays of the month. Arrival 10.25 am for 10.30 am start. (Runs for about 1 hour)

Update on our Raffle?

This weeks raffle raised $41.00 bring the total raised $344.75 this year for the Iris Foundation in 2011.

This year we will continue with our Raffles and donation to Iris Foundation. This year we will do a raffle again for the Iris Foundation. We will be looking for prizes/donations up to the value of $10. Its will be up to you if you would like to participate and none should feel obliged. Tickets will be $2 each, or three for $5.

Updated Members

We have over 105 members for Coffee Time. You can come when you are free, never feel obligated and always feel welcome. I have a list with everyone who has come along to Coffee Time; I am updating the distribution list. If you would like to be included, please check your details are correct, update where necessary and add if not on there.

There are 2 business card holders, please feel free to put your business cards in, these are passed around each meeting, and feel free to support each other and utilize their services.

Networking:
· Coffee Time 8th June
· Fridays round the coast SBNG – 3rd Friday here at Zenith
· BEC – Women’s Forum 1st June at Diggers @ the Entrance
· BWC lunches on each month – for more info contact Kym Williams
· 15th July – Westpac Chopper Race Day

Expo’s in 2011
· 22/6/11 Central Coast Women’s Network – Mingara Tumbi Umbi

Advertising with Buy Local
· B2B – online buy local $22 per month – see B2B or www.buylocalconnect.com.au
· Book now and sign up – and you will get couple of months for free (coffee time members only)

Education:
2011 – Visit BEC upstairs or log on to www.ccbec.org.au
Courses:
25/5/11 - Modern Selling Techniques
8/6/11 - Business Planning
15/6/11 - Business planning
13/7/11 – Importing and Exporting

Action Coach is running Business Mastery – Business Cart IV. If interested contact Michelle on 4369 3704

Small Business Week:
30/5 – How to budget to success – Cashflow @ Zenith 10.30 – 2.30
31/5 – Recovery of Outstanding Debts - @ Zenith 6pm to 9pm
1/6 – From Success to Significance @ Diggers The Entrance 11 – 1.30
1/6 – Fair Work for Small Business - @ Gosford RSL 11 – 1. or 2 – 3.30
For more information, please go to BEC, or DRDI (DII)

Update:
· Iris Foundation is having a treasure hunt at the buy local festival. Looking for donations - $20 for each business. Contact admin@irisfoundation.com.au
· NSW Business chamber has an alliance with local chamber of commerce’s, speak to Daniel Farmer or your local chamber
· 18th June – Masquerade ball at Wyong Race Club $77 per ticket Kate – Events with Pizzazz. Bring a virtual guest for $10, and then money will go to the Iris Foundation
· 23rd July Christmas in July
· Melbourne Cup – Wyong Race Club
· Buy Local Key Rings – going coin donation – money raised goes to the Iris Foundation

Wins:

Nicolette – 9 weeks in Business and has 7 weddings booked, was the photographer at the B2B event
Kate – 2Go & seafm ads going to air this week.
Juls – invited to talk at a women’s centre and cancer council
Lyn – B2B Festival has 2 new sponsors for next year
WCC – raised $600 for cancer council biggest morning tea.

Who are you & what do you do: 30 Sec story about you

Tarnia Gurney
Gurney Financial Services www.gurneyfinancialservices.com.au
Planningwerx4U www.planningwerx4u.com.au

Kate Morris
Events with Pizazz www.eventswithpizazz.com.au

Marama Carmichael
Essential Wellbeing www.essentialwellbeing.com.au

Kellie Targett
Insurance Adviser net ktargett@iaa.net.au

Lyn Thompson
Buy Local online/ LBH Promotions/ B2B www.b2bwithatwist.com.au

Toni Fountain
Insight Health www.insighthealthaustralia.com.au

Warren Garth
Cats Accounting www.catsaccounting.com.au

Jay Lewis
Work Cover NSW www.workcover.com.au

Melissa Cooper
The Art of Intimacy www.melcooper.com.au

Shaun Nicolson & Selma Sancar
Voice Concepts www.voiceconcepts.com.au

Tony Bourke
AIIB Insurance www.aiib.com.au

Leanna
Intimate Whispers www.intimatewhispers.com.au

Nicolette Gregory
Photographer onefitone@bigpond.com

Jules – Insight Health


Today’s Presentation: Warren from Cats Accounting

What do accountants offer?
Tax returns
Software to help your business
Look at drivers in your business
Find cashflow problems

What is a specialised service CATS can do - Optimising your business?
MYOB profit optimiser
2 x 12 months figures
Run report
Analyse what cashflow is
Analyse profitability, margins, debtors days, etc

What is the difference between a bookkeeper and accountant?
Bookkeeper – enters raw data into MYOB / Quick books
Accountant – completes Tax returns, analyses figures, profitability, cashflow

Can you change accountants? And what do you need to do?
Letter from new accountant to old accountant.
The old accountant needs to send all records

Who owns your information?
The client owns the records
Accountants can scan all documents and provide to new accountant or/&client

What is the cost of a first consultation?
Usually complimentary
No advice given
Estimate given

How can you reduce your tax income - minimisation?
You should only complete legal taxable income and expenses
There is depreciation of items

What do banks look for if you have no wages but have drawings from business?
Look at depreciation
Look at drawings
Add backs into the accounts

What kinds of business structures are there and which is the best?
Sole Trader – no protection, cheap, ABN
Company – directors, wages and dividends, legal protection, - good
Trust – Discretionary Trust – protected – where $ goes to
Partnership – similar to sole trader – split the profits and losses.

What are the costs?
You pay for time. And hourly rate

GST Registration. When do you register?
$75,000 turnover /gross income
Today we raised $41(included in total for year). Thanks for your support. Today’s winner is Lyn Thompson, Thanks to Dawn & Bev who has donated today’s prize.

Planningwerx4u has Business Planning Cds for $50 each, if you would like one please let Tarnia know.

Thanks and see you next time

NEXT MEETING: 8th June
Presentation – Budgeting