Welcome to our third newsletter.  The highlight of the last 6 months has been our trip to New Zealand, a landing in paradise. Not only is the scenery magnificent with snow-capped mountains and turquoise lakes, but it is a Mecca for trekkers.

Our seven days’ trek on the Routeburn Track and the Greenstone Track started in torrential rain. As we trudged the 8.8 kilometres from the Routeburn Shelter to the Routeburn Falls Hut, mini waterfalls pushed down the slopes and slowed our progress. Even our Gore-Tex gear could not stop the assault of the relentless rain. On that first day, the views were non-existent. The river crossings on the rickety swing bridges were a hairy experience with the water gushing past underneath us.

There is nothing like a very wet day to be appreciative of the timid sun which would greet us on the days to follow. From the mighty Earland falls, which crashed down from its 173m height to the mossy forest where one expects to see goblins popping out from the giant ferns, the trek was memorable. As if we were not spoilt enough by the vistas and well maintained tracks, the huts were unbelievable with flushing toilets, gas cookers and even mattresses on the bunks.

We then headed for Mt Cook/Aoraki, the highest mountain in New Zealand, where the sun  and blue skies joined the party for the next three days. The boots were put back on and we climbed to the Searly Tarns (1,250m).  We shared a mountaineering hut with PHD students who were researching the Kea alpine parrot and we joined them during their research early one morning.

We finished our trip in Christchurch attending the Millennium 3 conference. The conference was very motivational with entertaining speakers like All Black and Rugby Sevens’ specialist, Eric Rush. I picked up some good business tips and interacted with advisers from over East.

For more photos, click here.

On the business front, my personal assistant, Melanie has now also started our in-house training program and will soon be ready to prepare the Simple Risk and Super SoAs.  With three paraplanners on board we are set for a very busy 2010.

Same-Sex Couples

Same-Sex Legislative changes took effect from 1^st July 2009. The definition of spouse has been amended in various tax laws to include a same-sex spouse and will impact on the following areas:

• Tax Offset for Dependant Spouse
• Senior AustralianTax Offset
• Medicare levy Assessment
• Main Residence CGT exemption
• CGT rollover relief on relationship breakdown

Same-sex couples may now benefit from:

• Spouse Super Contributions offset
• Splitting of Concessional Contributions

However Same-sex relationships are now recognized for Centrelink and Family Assistance purposes. This may have some adverse impact on the couple’s finances.   

It is imperative that same-sex couples’ financial plans be reviewed in light of the above changes and strategies be put in place to take advantage of the changes while mitigating the reduction in concessions.

New Work Bonus

This replaces the Pension Bonus Scheme which closed on 20 September 2009. Individuals working past the Age Pension age would have 50% of their employment income up to $250 per fortnight excluded under the Income Test.

However the bonus is not available to self-employed pensioners unless they operate under a private trust or company structure. It is worth reviewing the business structure of the self-employed and how they are remunerated and draw funds from their structure.

Centrelink

Why not review all the clients who are on a part-pension? If they are Income Tested, reducing their minimum pension payment to the Centrelink Deduction Amount will enhance their pension.

UK State Pension

From 6 April 2009, certain people will be able to contribute an additional six years of voluntary Class 3 National Insurance contributions (NICs) under new legislation in the Pensions Act 2008. This is over and above those permitted under the current time limits, in order to enhance their basic State Pension entitlement. Find out more by clicking on this link.

 It may be worth reviewing all clients who come from the UK!

The legislation in relation to the Expanded “Income” definition is now in force and took effect from 1^st July 2009. In a nutshell it widens the definition of income to include salary-sacrifice contributions and net investment losses when working out eligibility for various taxation and superannuation concessions and government benefits.

Areas affected by the changes:

• Government Co-contribution eligibility thresholds
• Spouse Super Contributions offset
• Using the 10% rule for super contributions eligibility
• Income Test for individuals under Age Pension age
• Family Tax Benefit, Child Care Benefit, Baby Bonus
• Commonwealth Seniors Health Care card

Pension Bonus Scheme is OUT, New Work Bonus is IN

The Pension Bonus Scheme has closed to new entrants on 20/09/09. However those who attain Age Pension age before that date have still a window of opportunity for 13 weeks (from the date they reach pension age) to register under the old scheme.

Welcome to the 2^nd edition of our News Bulletin.

Paraplanning Direct welcomes Corinne Jacquin on board as a trainee contractor. Corinne has a Bachelor Of Business in Financial Planning from the RMIT (Royal Melbourne Institute of Technology). Corinne has worked for two years in a financial planning practice in Western Sydney. Corinne operates from Blairathol in Sydney and this reflects the “no boundaries” nature of our business.

In June, I successfully graded and achieved my Green belt (5kyu) in Karate Goju Kai. It was my first grading since my karate injury in May 2007.

In July 2009, our 4 day trek on the  Bibblumun Track was cut short on Day 2 as I battled a bout of flu to get back to civilization. The Bibbulmun Track is a long-distance walking trail which runs from Kalamunda (Perth Hills’ suburb) to Albany, 403 kms south of Perth. The Track is 973 kilometres long and has 48 three-sided timbers huts spread from 12 to 23 kilometres apart. Our proposed trek was in the Dwellingup region, 136 kilometres south of Perth.  We set off in wet weather with the rain pelting down. The weather eased off by the time we stepped into the Chadoora Hut, where we spent the night. The next day we set off for the 20 kilometres back into Dwellingup where we spent the night at the caravan park before heading back to Perth to recover.

At the end of July, we flew to South Africa via Singapore. During the six hours transit in Singapore, we enjoyed a feast of barbecued stingray, oyster omelette, greens and rice all washed down with sugar cane juice and coconut milk at Chiangi Village.

Our South African visit included a 9 day camping trip in the Kruger National Park which was an amazing experience. Every night we went to sleep to the sounds of animals, whether it be the roar of lions, grunt of hippos, barking of the baboons or yelling of hyenas.  We encountered a mating pair of lions lounging in the sun next to the road and the next day spotted a leopard with 2 cubs frolicking up and down a tree. Our favourite spot was a waterhole away from the main treks where we spotted kudus, impalas and giraffes.

The next part of the trip was Mauritius where I caught up with the family. I enjoyed a number of walks through the Mauritian highlands and a relaxing stay at the beach-house on the North West side of the island. To top it up I managed to work through the time I spent in Mauritius confirming that we are really a business with no boundaries.

If you want to enjoy more photos, click here.

It was a journey of self-discovery and a test to one’s ability to endure discomfort. All the training and preparation did pay off though. We had delicious dehydrated meals in the evenings. At Little Deadman’s Bay, we went off fishing.

The weather was kind to us and we enjoyed  the magnificent scenery.

If you want to enjoy more photos, click here.

I attended the Hillross Conference in Sydney in January.

Brigitte Julien receiving the strategist award on behalf of Hillross Burswood

It was a great opportunity to network and share ideas with other Hillross advisers.

Whatever spare time I have these days is spent learning Italian with my daughter Anastasia. I am not making much progress as the business takes up most of my time.

I leave you with this quote to ponder on:

Far better it is to dare mighty things, to win glorious triumphs even though chequered by failure than to take rank with those poor spirits who neither enjoy much or suffer much because they live in the grey twilight that knows neither victory nor defeat.

Arrivederci!!
Brigitte