Heartless Scammers


Last Wednesday morning I received an emotional telephone call from my mother. I immediately heard from the tone of her voice that she was distressed, anxious and upset.

The reason for my mother’s agitated state was a series of telephone calls and messages left on her answering machine supposedly from the “ATO” claiming that she was on the verge of being prosecuted for outstanding lodgments and tax debts!
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Freckle Farm

Freckle Farm

In an idyllic setting not far out of Mackay in the small township of Eton, you will find 2000 chickens, 15 breeding sows and 60 cows and their progeny.

This is where Rob Bauman and wife Deb McLucas operate the 265 hectare Freckle Farm, with the help of their three children and several full-time staff.
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Doing It Right


As a business owner, it is important to understand all aspects of your operation, however it is impossible to be an expert at everything. Many business owners struggle when it comes to looking after the Financial Management and Accounting of the business.

The following are the top eight common Financial Management and Accounting mistakes that small business owners make.
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Debtor Finance

debtor finance agribusiness

Debtor Finance is an increasingly popular method for businesses to improve access to cash or ‘liquidity’ in their operations, particularly through a period of growth.

This is achieved by the lender taking security over the business’ debtors and advancing up to 80% of that book for use as working capital. Through the working capital cycle of the business, as debtors are collected and new invoices issued and funded, your business is provided a constant source of funding, similar to an overdraft.
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Carbon Farming

biogas plant

The Emissions Reduction Fund is a voluntary Scheme that aims to provide incentives for a range of organisations and individiuals to adopt new It is enacted through the Carbon Credits (Carbon Farming Initiative) Act 2011.

A number of activities are eligible under the Scheme and participants can earn Australian Carbon Credit Units (ACCUs) for emissions reductions.  One ACCU is earned for each tonne of carbon dioxide equivalent stored or avoided by a project. ACCUs can be sold to generate income, either to the Government through a Carbon Abatement Contract, or in the secondary market.
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Business Interruption

Flooded office business interruption insurance

When it comes to running your business, you probably try your best not to play it fast and loose when managing risk. However, if you are not insured for Business Interruption, that may be exactly what you are doing.

Where an accidental or malicious damage event occurs, your ability to conduct business could be ‘interrupted’.  E.g. If I had my business in a shopping centre or an office block, and a fire event caused damage, my clients and staff could be prevented from accessing the premises whether they are damaged or not.  These situations can be disastrous for a smaller or single site business.
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Breaking Super News: $500K Non-Concessional Contribution Cap Scrapped

Powers Superannuation Services Charles Page Non-concessional contribution cap

In what must be seen as good news for the Superannuation Industry, the Government has announced changes to the proposed $500,000 non-concessional contribution cap that will remove any discussion as to the retrospectivity of previous contributions.

The announcements remove the $500,000 non–concessional lifetime contribution cap and lower the annual non-concessional contribution cap of $180,000 to $100,000 per year.  In addition, the Treasurer said individuals aged under 65 would continue to be able to ‘bring forward’ three years’ worth of non-concessional contributions.


In effect, individuals will be able to contribute $125,000 each year and, if taking advantage of the non-concessional ‘bring forward’ provision, up to $325,000 in any one year.


Those individuals with a superannuation balance of more than $1.6M will no longer be eligible to make non-concessional contributions from 1 July 2017.


As part of the economic tradeoff for these changes the Government will not proceed with the harmonisation of contribution rules for those aged 65 to 74.  This means that those who are able or want to contribute to Superannuation after 65, must still be gainfully employed.


It would seem that these announcements will meet the political sensitivities of both the Liberal Party backbench and the Labor Party with the removal of the $500,000 cap, and so far are being well received in the Superannuation community.


Obviously there may be devil in the detail if and when all the proposals get legislated but these announcements are a distinct improvement for no other reason than to remove the retrospectivity for non-concessional contributions – generally agreed to be a significant administrative and legislative burden on individuals, super fund trustees and regulators alike.


To discuss what this means for your Superannuation, call Powers Superannuation Services today. 


Pensioner Concession Cards

Pension Concession Cards Old People Thinking

With the 1 January 2017 Assets Test changes less than 6 months away it is important to understand the implications of losing the Age Pension entitlement as well as the Pensioner Concession Card (PCC).

Age Pension recipients who lose their entitlement and the PCC on 1 January 2017 as a result of the Assets Test changes will be automatically issued with a Commonwealth Seniors Health Card (CSHC) without being subject to the income test indefinitely.
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