HFS News
We would love to hear what you think of us!
Hern Financial Services is constantly looking at ways we can improve our service to you. A very big part of that is listening to what you have to have to say. It is for that reason that we now invite you to take part in our customer survey. And to thank you for your time, you will have the chance to win one of four $50 vouchers from Magshop to be used towards magazines or books of your choice if you complete the survey before the JUNE 15, 2012.
Click here to go to the survey
(If for some reason you have trouble linking to the survey, please type: https://www.surveymonkey.com/s/hfscustomersurvey/ into your browser.)
PLEASE NOTE: to be in the running, your survey must be completed in full, including contact details, by no later than JUNE 15, 2012. Voucher winners will be notified and names published in future Informer newsletters. Please be assured that your privacy is of utmost importance to us at all times. Please click here for more information on our PRIVACY POLICY.
Please contact Elena via email: elena@hern.com.au or call 08 8373 1702 if you have any further questions in regards to the Customer Survey.
Transition to Retirement session - Thursday 10 May, 5:00pm - 7:00pm
Many pre-retirees are in a good position to take advantage of a tax-effective super strategy – Transition to Retirement Account Based Pensions [TRPs]
If you have reached preservation age (generally 55 years), TRPs enable you:
- to continue working the same number or fewer hours.
- to access your super early, via a pension.
If you choose a Transition to Retirement Account Based Pension...
- you pay no tax (if you are over 60 years old) on the payments that are drawn from your super as pension.
- you can cut back your working hours and still maintain your income level by supplementing you lower salary with your pension.
- you can still make contributions to your super.
- you can start or stop your pension at any time.
- you can potentially make significant tax savings by salary sacrificing.
What else should you consider?
- Consider whether accessing your super early could eat into your future income and affect your retirement plans.
- Check the pension drawdown limits that will apply to your TRP.
Since 1 July 2011 to 30 June 2013, the minimum payment is 3% p.a. however from 1 July 2013 this may be 4% p.a.
The maximum payment is 10% p.a. of your super account balance. - Check whether or not your employer super contributions are based on total salary, rather than calculated on your post-sacrificed income.
- If you are considering salary sacrificing money into super, seek advice about any limits that apply.
- A TRP is 'non-commutable', that is, it cannot be taken as a lump sum amount, but when you turn 65, your TRP becomes a regular Account Based pension and you have the option of lump sum withdrawals.
Case study: TRP + Salary Sacrificing
Steve is a 55-year-old manager of a construction site, earning $100,000 p.a. He wants to minimise his tax and build
up his super before he retires. His current super balance is $500,000.
Steve's Count Adviser recommends that he:
1. salary sacrifice $40,878 p.a., which places his income in a lower tax bracket
2. maintain his level of income by supplementing his take-home pay with
$32,500 each year from his TRP
The advantages of a TRP +Salary Sacrificing strategy for Steve
- Steve will have the same level of income
- All earnings from Steve's TRP will be tax-free
- He will have a total tax saving of $6,637, taking into account the total tax on
his reduced take-home pay and superannuation.
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Concessional contributions to super Salary sacrifice and superannuation guarantee contributions are limited by the concessional contribution cap. The concessional contributions cap for 2011-12 is $50,000 p.a. for people over age 50. After 1 July 2012, the $50,000 contributions cap will only apply to individuals with a super balance less than $500,000. For all others, the contributions cap will be $25,000 p.a. from 1 July, 2012. As Steve's case study showed, pre-retirees can make significant tax savings by making contributions up to the concessional contributions cap using a TRP strategy. The benefits are even greater if you are over age 60 or have a tax-free portion in your super balance. |
Table 1 – Income comparison
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| Join us Thursday, 10 May at 5:00pm to hear guest speaker Tom Huntley discuss Transition to Retirement options available to you. Register your place by emailing Elena at elena@hern.com.au by May 8, 2012 |
Table 2 –Tax Comparison
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Work / Life Balance twilight session
A great night was had by all who attended our Work/Life Balance twilight session, Tuesday, 6 March, 2012.
Abbie Allen, from Lifestyle Elements provided useful insights as to how best determine what Work/Life Balance means to each one of us and realistic strategies to make it happen.
A big thank you all those that attended, as well as Everett Brooks Jewellers, The Little Hair Boutique, Plush Hair & Beauty Studio, and of course, Lifestyle Elements, who supported the session and contributed to make it the fun and entertaining evening that it was.
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YES, work/life balance IS possible!
Hern Financial Services twilight seminar to share tips and insights
As recently stated in The Advertiser; "more than one in four people listed achieving better work/life balance as their New Year's resolution" (Careerone section, Saturday 28 January, 2012)*. Lifestyles are constantly getting busier and it can sometimes feel as if we are not in control of our own lives. Attaining that work/life balance may not be as easy as it seems.
It is for that reason, Hern Financial Services will be hosting a Work/Life Balance twilight seminar to share tips and insights on how it is definitely possible to achieve it. Guest speaker Abbie Allen, from Lifestyle Elements, became the first Australian to be awarded the International Concierge and Lifestyle Management Association (formerly ICEA) Certified Concierge Specialist accreditation in 2009 and will be providing practical tools and inspiration at the session.
The seminar will also act an "unofficial" launch for a new marketing direction for Hern Financial Services.
"We are already proud of delivering professional, personalized and complete financial planning and accounting services. What we now want to do is also provide a professional environment which can act as a forum to raise a variety of lifestyle and business issues", stated Hern Financial Services Marketing Communications Manager, Elena Rebuli.
"We have many innovations planned for 2012 and beyond. And the introduction of a twilight seminar series is just the beginning", she added.
The Work/Life Balance Twilight Seminar is being held Tuesday 6 March, starting at 6:00pm. Light refreshments will be served, and there will be a door prize of a voucher of three hours of personal concierge services graciously donated by Lifestyle Elements and all attending will be receiving a gift bag. Best of all, there is no cost to attend the session. However, pre-registration is essential due to strictly limited places. Please contact Elena Rebuli, Hern Financial Services, Marketing Communications Manager for more information. Ph: 08 8373 1702, email: elena@hern.com.au
WHEN: Tuesday 6 March 2012 at 6:00pm
WHAT: Work/Life Balance Twilight Seminar
WHERE: Hern Financial Services, Level 2, 208 Greenhill Road, Eastwood, SA 5063
Parking is available under the building and along Greenhill Road
COST: Free – however RSVP is essential (by 23 Feb)
* The Adelaide Advertiser (dated 28/01/2012) Careerone Section (page 20). Article: "Work/life balance a key resolution"
Happy 2012
A very happy 2012 to you all!
Please note that our offices will be closed during this Festive Season as of midday Friday 23 December and will reopen for business as usual as of 9:00am Monday 9 January, 2012. We will be regularly checking for any urgent messages during this time and will endeavour to get back to you as soon as possible. We wish all our dear clients and friends a very happy and safe Christmas and start to 2012.
29th September 2011 - Learn about Xero Breakfast
| We had a great session this morning at our Learn about Xero Breakfast. Attendees got to learn about how Xero can help their business save valuable time with a live demonstration of what Xero can offer. Here are some comments from today's session: |
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"It broadened my knowledge of Xero as I had only seen basic information on the product" "I now understand how Xero works and could benefit business. The demo was excellent!" |
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"It was helpful for gaining extra insight into the system I am already using" "It gave an overall understanding on how the product works and who could benefit from it" "We are considering Xero for our business" |
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| If you are interesting in learning about Xero we have afternoon sessions in October and November - click here to find out more. | ||
12th August 2011 - Market Volatility Investor Update
You may have read about events in the Australian and global financial markets over the past few weeks. The recent headlines have told about the dramatic swings in the US and other share markets around the world. It's important to put these developments in the context of your longer-term financial plan, so we have an update with some questions and answers to help you understand what's causing this volatility.
A number of factors have contributed to this extreme volatility, including political events, natural disasters, the US debt debate and concerns over the problems in Europe. On the upside, Australia does not have a huge government debt. Relative to other parts of the world, Australian banks are also quite financially strong. However, please bear in mind that markets will continue to go up and down for a while due to ongoing uncertainties in political and economic environments across the world.
At times like these it's really important to stay calm and remember some of the fundamental principles of investing, such as making sure you have a diversified portfolio, and investing for the long term. By taking a long-term approach to investing, you give your investments time to recover from the downswings that are a natural part of any investment cycle.
We are here to help you manage risk and look at your long-term financial strategy. This is the best way to build and preserve wealth, so please don't hesitate to contact us on 08 8373 1702 to discuss your situation and to clarify any questions you may have.
Investor FAQs on Market Volatility
This outlines key questions and answers to give you a greater insight into the current market conditions being experienced locally and abroad.
Q: What's happened in the markets?
A: We've seen a lot of volatility in financial markets in recent weeks because of a number of factors:
· The speed of global economic recovery has been sluggish.
· Global policymakers in the US and Europe have been slow to make decisions to restore confidence in their markets.
· Concerns about the ongoing debt situation in Europe.
· The US government has been slow to increase the debt ceiling, and the ratings agency Standard & Poor's downgraded the credit rating of the US last weekend.
· The extreme swings of the past few days in global share markets were a result of all these factors building up, not just one single event.
Q: What does this mean for Australia and Global investments?
A: Global investments, mostly shares, have fallen sharply as investor confidence continues to fall. Until there is some level of certainty in the markets, shares will continue to be volatile. This uncertainty will also flow into other parts of the economy, affecting consumer confidence, housing prices and jobs growth.
The Australian share market is not immune to these macro (global) issues and is expected to be volatile in the short term as we react to US and European markets rather than stock specific issues.
However the Australian market is somewhat more insulated from the global issues because:
· Our market is more reliant on emerging markets, which are less affected by current global market falls.
· The large amount of investment in the resources sector is likely to continue, providing a solid base for earnings for next year for many companies.
Q: How is this different to what happened with the GFC?
A: The Global Financial Crisis (GFC) in 2008/2009 resulted in a global recession that was driven by a liquidity crisis across a significant number of global financial institutions. The situation of the past weeks is partially due to how investors are feeling rather than directly related to problems in the financial system or the economy. Panic amongst investors can cause extreme levels of market movements, such as has happened in the US and Australia over the past weeks.
Q: Will this volatility continue?
A: We expect that financial market volatility could continue for some time due to the general lack of confidence among investors, combined with worries about the health of the global economy. But Australia is in a relatively strong financial position compared to the rest of the world. We have:
· Low levels of debt
· A stable employment market
· A strong regulatory and governance framework
· Sound financial institutions
Some other positives for Australia are:
· Australia doesn't have a huge government debt burden compared to the US.
· Australia is also able to use monetary policy to cut interest rates if necessary.
· Stock market fundamentals for the market are still strong.
Q: What strategy should I take?
A: Keeping calm is key
Talk to your financial planner if you're concerned about whether your investments are still appropriate to meet both your short-term and long-term investment and lifestyle goals. And remember, you will realise a loss only if you sell now.
Focus on your long-term investment horizon
Despite global downturns in markets over the past 100 years, history shows that if you had invested for any 10-year period over the last 50 years, you'd always have made a profit – on average, of around 12% per year[1].
Financial market volatility is not a new phenomenon
It's important for investors – especially during times like this – to take a deep breath, step back and look at where the value is. Markets move up and down but there is value represented in the marketplace currently.
Australian companies are still paying high dividends to investors. Income investors should focus on this. History says there will always be a bounce back. And, the long-term direction of the share market has always been up.
[1]Source: Shares index is ASX Accumulation Index-All Ordinaries to April 2000 and S&P/ASX 300 Index thereafter. 'Year' is calculated on a calendar year with annualised returns (capital growth and income reinvested). 12.7% is the average of the 10 year rolling compound returns between 1961 and 2010. Consider your personal objectives, financial situation and needs before acting on this information. Past returns are no guarantee of future performance.
Q: What should I do next?
A: If you have any further questions or concerns please speak to Brian or Matthew on 08 8373 1702
Important Information:Information is current as at 10 August 2011. BT Portfolio Services Ltd ABN 73 095 055 208 (BTPS) operates Wrap and administers SuperWrap. BT Funds Management Limited ABN 63 002 916 458 is the trustee and issuer of SuperWrap. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs. Past returns are no guarantee of future performance. All forecasts and estimates are based on certain assumptions which may change. If those assumptions change, our forecasts and estimates may also change. ©2010 BT Funds Management Limited ABN 63 002 916 458.
General Advice Warning: Please note that the advice provided is general advice only as, in preparing it, we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how the appropriate advice is to your particular investment needs and objectives. Hern Financial Services is an Authorised Representative of Count. 'Count' is the trading name of Count Financial Limited, ABN 19 001 974 625. AFS Licence Number 227232. Principal Member of the Financial Planning Association of Australia Limited. Please note that any taxation and accounting services are not endorsed nor the responsibility of Count Financial Limited.
8th July 2011 - Hern Financial Services Feature In-Business Online
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Hern Financial Services was proud to feature in the 8th July online edition of In-Business Magazine. Please click here to read more about Hern Financial Services and our place in the finals of the South Australian Telstra Business Awards. |
24th June 2011 - Telstra Business Awards Finalists
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Hern Financial Services is very honoured to be named one the SA finalists in the 2011 Telstra Business Awards. We are finalists in the MYOB Small Business Award and the winners will be announced on the 22nd July. |
| To read more about the awards please click here to read an article from The Advertiser published on 24th June.
Also clients and supporters are encouraged to send their messages of congratulations to the finalists which will be displayed at the Gala Dinner on the 22nd July. If you would like to submit a message of support, please click here to the Support Your Finalist page. Thank you to all our clients who support us. Without your loyal support and referrals we would not be where we are today - thank you. |
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Congratulations to Maria and Rob on the safe arrival of Kaylee Rose! Kaylee was born at 6.45pm, Saturday 18th June, weighing 6Lb. Mum and baby are doing well! We look forward to many visits to the Hern Financial Services Office! |
9th June 2011- Young Business Leaders Breakfast - CEO Roundtable
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We had a great morning with John Lynch, CEO of the Royal Flying Doctors Service. John spoke about how to he leads his team, how he moved up in his career and how to create a great culture in your business. His witty and interesting stories left us motivated and inspired. If you would like to attend our next Young Business Leaders Breakfast click on our Facebook page or Upcoming Events to RSVP. |
| Here is what some attendees from the breakfast thought of the session: 'It's fantastic to hear from someone who has started at the bottom and moved to the top!' 'Interesting to hear how someone else has worked through his life, how he balanced everything and what he views as important within the organisation.' |
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12 May 2011 - Walkerville Volunteer of the Year Lunch
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Brian was very humbled to be nominated for the Walkerville Council "Volunteer of the Year" in May. Brian was one of the 4 finalists to be honoured at the Volunteers lunch. He was nominated for his involvement in the Walkerville community, his work with Brougham Place Uniting Church and providing pro-bono accounting and auditing services to Walkerville community groups. Congratulations Brian! |
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May 2011 - Self Managed Super Month
| May was Self Managed Super Fund Month at Hern Financial Services. We had a great response to the 2 Information Sessions held. Session 1 was presented by Neil Sparks, a specialist in Self Managed Super Funds and a member of SPAA (Self managed Super Fund Professionals' Association of Australia). He spoke about the SMSF Trustees roles and responsibilities and the legal aspects to make sure your SMSF is compliant. Session 2 was presented by Lester Jarmyn, Senior Estate Planner for AET Adelaide and licensed Financial Planner. Lester spoke about the importance of appropriate estate planning for SMSFs. Here are some comments from people who attended the sessions: |
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Session 1 "Good presentation, clear explanation and relevant to my interests" " A very valuable seminar, I realise how much I don't know!" " Highlighted the complexities of SMSF and the need to be diligent and to have honest, reliable and relevant advice" |
| Session 2 "Excellent session, I need to review our existing wills" "The session updated my knowledge of reducing tax and estate planning for SMSF" "Was a great first introduction to estate planning" |
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7th April 2011 - Young Business Leaders Breakfast - Being the Better Boss!
| We had a motivating morning with Jenny Williams from Best on Ground Performance today! Jenny spoke about how to be a great leader, motivator and a good carer. Care for yourself, your employees, your customers and your business makes a great leader. If you would like to attend our next Young Business Leaders Breakfast click on our Facebook page or Upcoming Events to RSVP. |
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Here is what some attendees from the breakfast thought of the session: "It was great! It provided a holistic and logical way to think about people management" "Very insightful and positive. I will attend more!" "I have just started a new job in management so it was great value to me" |
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15th February 2011 - Transition to Retirement Information Session
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We had a great night at our Transition to Retirement Information session. Many thanks to Tom Huntley from Colonial First State for his educational and entertaining presentation. Here is what some of our attendees said about the evening: "It gave me an insight into how Transition to Retirement can be used beneficially" |
| "It clarified a number of issues and alerted me to a possibility I was not aware of" "It confirmed my beliefs about retirement plan importance and the advice I have been given" If you are interested in attending an upcoming client event - watch our Upcoming Events page or become a fan on our Facebook page. |
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1st February 2011 - Flood Levy: How it Affects You
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On 27 January 2011, the Government announced that it will introduce a one-off flood levy for the 2011-12 income year to help reconstruct the flood affected areas of Queensland, New South Wales and Victoria. Taxpayers who have a taxable income of $50,001 to $100,000 will be paying a levy of 0.5% on that part of their income and taxpayers with a taxable income above $100,001 will have a levy of 1% applied on that part of their income. For example if you have a taxable income of $60,000 you will be paying a levy of $0.96 per week. The Government has said that the levy will only apply to the financial year, 2011-12 and it will not extend the levy past this date. Taxpayers with a taxable income less than $50,000, or who are in receipt of the Australian Government Disaster Recovery Payment for a flood event in 2010-11, are exempt from the flood levy. Here is a table supplied by the Treasury of how your pay packet will be affected each week:
If you have would like to read more about the Flood Levy click here for the official Government fact sheets or please contact our office. |
20th December 2010 - HFS Clients feature in the latest issue of the Count Report
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Hern Financial Services was lucky enough to have our clients, John and Catherine Riggall, featured in the Count Report. The Count Report is a national magazine released by our Licensee, Count Financial. The article focused on how Hern Financial Services partnered with the Riggalls to achieve business and personal financial goals. Click here to read more |
7th December 2010 - Our Final Weigh In
Thank you to everyone who supported us in our 12 Week Challenge! Unfortunately we did not meet our weight loss goal but we had a fun time trying to get there! We lost 25.7kg and raised $1,746.95! Hern Financial Services has also matched every dollar raised. So that makes a total of $3493.90 raised for Diabetes SA. At present there is no cure for type 1 diabetes but researchers are hopeful that a cure will be discovered soon. Diabetes SA is a community organisation that provides diabetes support services, participates in research to find a cure and undertakes activities which improve understanding and awareness of diabetes.
Once again thank you to all the friends of Hern Financial Services who supported us in this worthy cause.
22nd November 2010 - Our Fifth Weigh In
Today was our fifth weigh in and we had a cracker 2 weeks! We have lost 20.8kgs and raised $1,730! We are getting closer to our goal of $2,500. Hern Financial Services will also match every dollar raised. Thank you to everyone who has supported us. All monies raised are going to Diabetes SA. Diabetes SA is a community organisation that provides diabetes support services, participates in research to find a cure and undertakes activities which improve understanding and awareness of diabetes.
If you would like to support us in this great cause please donate through our Diabetes SA Everyday hero page.
18th November 2010 - Young Business Leaders Breakfast
Today we hosted the first of our Young Business Leaders Breakfast sessions. We had a great morning discussing Time Management strategies with Graham Stewart from Employment Solutions for Small Business. Thank you to everyone who attended. We will be hosting more breakfast sessions in the new year so please watch our website or become a fan on Facebook for all the latest updates and news! Here are some photos from today's event and there are more on our Facebook fan page.
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8th November 2010 - Our Fourth Weigh In
We had our fourth weigh in today and have continued to lose weight but raise more money! We have lost 13kgs and raised $1,530! Thank you to everyone for their support and donations. We have four more weeks to our goal of $2,500! All monies raised are going to Diabetes SA. Diabetes SA is a community organisation that provides diabetes support services, participates in research to find a cure and undertakes activities which improve understanding and awareness of diabetes.
If you would like to support us in this great cause please donate through our Diabetes SA Everyday hero page.
25th October 2010 - Our Third Weigh In
Today was our third weigh in and we have had another slow 2 weeks in weight loss but another fantastic 2 weeks in fundraising! We have lost 8.6kgs and raised $1,400. Thank you to everyone for their support and donations. We are getting close to our goal of $2,500! All monies raised are going to Diabetes SA. Diabetes SA is a community organisation that provides diabetes support services, participates in research to find a cure and undertakes activities which improve understanding and awareness of diabetes.
If you would like to support us in this great cause please donate through our Diabetes SA Everyday hero page.
15th October 2010 - Hern Financial Services promoted to Masterclass
After several years attending Rob Nixon Coaching Club meetings Hern Financial Services team was promoted to Masterclass at a recent meeting in Brisbane.
Masterclass is based and designed for those firms who have mastered the "mechanical" aspects around running a better accounting business.Not only are participants challenged to think about their own businesses in new ways, but the models to be used during the session will doubtless have application for their clients as well.
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11th October 2010 - Our Second Weigh In
Today was our second weigh in and we have had a slow 2 weeks in weight loss but a fantastic 2 weeks in fundraising! We have lost 7.2kgs and raised $1,155. Thank you to everyone for their support and donations. We have decided to up our goal to $2,500! All monies raised are going to Diabetes SA. Diabetes SA is a community organisation that provides diabetes support services, participates in research to find a cure and undertakes activities which improve understanding and awareness of diabetes.
If you would like to support us in this great cause please donate through our Diabetes SA Everyday hero page.
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28th September 2010 - Our First Weigh In
Yesterday was our first weigh in and we are proud to say that as a group we have lost 6.1kg and raised $760.00! Thank you to everyone for their support and donations. All monies raised are going to Diabetes SA. Diabetes SA is a community organisation that provides diabetes support services, participates in research to find a cure and undertakes activities which improve understanding and awareness of diabetes.
If you would like to support us in this great cause please donate through our Diabetes SA Everyday hero page.
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22nd September 2010 - Launch of the HFS 12 Week Challenge
Brian, Matt and the team at Hern Financial Services are embarking on a 12 week challenge to not only lose weight and get fit for summer but to also show their support for Diabetes SA.
As a team, we aim to lose over 40kgs and in the process, raise funds for Diabetes SA.
At present there is no cure for diabetes but everyone can contribute to finding a cure. Show your support and motivate us to lose weight by making a donation, no matter how big or small – it all makes a difference. Hern Financial Services will also match every dollar raised!
To support us in this great cause please donate through our Diabetes SA Everyday hero page.
21st September 2010 - Chris Caton Seminar
We had a great night with Dr Chris Caton! It was an insightful presentation on the Global Economies and the Market Outlook. If you are interested in attending an upcoming client event - watch our Upcoming Events page or become a fan on our Facebook page.
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30 July 2010 - It's a Girl!
| Congratulations to Kristy and Michael on the safe arrival of Olivia May! Olivia was born at 12.48pm Friday 30th July, weighing 8 Lb 12oz. Mother and baby are doing well! We look forward to many visits to our office! |
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1 July 2010 - We Have Moved!
We have moved to our new premises at Level 2, 208 Greenhill Road, Eastwood, 5063.
If you would like to contact us please go to the Contact Us page or call us on 08 8373 1702.