Powerline - Autumn 2017

My Say with Amanda Kenafake

Welcome to the Autumn edition of Powerline. Can you believe we’re almost halfway through the year?!

Power Tynan hosted the annual Walker Wayland Australasia Conference from 23rd- 26thFebruary, which included 140-plus delegates from firms across Australia, New Zealand and Indonesia. We opened the conference with Toowoomba Mayor Paul Antonio introducing our region and the opportunities that exist in our own backyard.  It was an interesting perspective not only listening to what he had to say, but how people from outside our region saw the opportunities identified.  We can all learn from someone taking a different perspective, as sometimes you can’t see the forest for the trees.

While we did spend some time on technical training to keep up to date with ever-changing legislation, the real benefits came from the sessions addressing wellness, teamwork, and how to get engagement.  We are all a part of a team, whether it be family, friends or work, and quite often our struggle with being too busy with “life” negatively impacts on wellness, so it was interesting to see the reactions to and messages taken from these sessions. 

As some of you may know, the team at Power Tynan has been trying to address wellness for many years, and have recently started talking about the ‘Wellness Wheel’ concept. With 24 hours in a day, this concept requires you to split your hours into QUALITY time spent in four categories - family/friends, ME, work and sleep.  It has proven to be an interesting exercise!

We also addressed wellness from a team and business perspective, encouraging and allowing time and programs for wellness to see how it affects the team (eg. less sick days), which of course leads to better engagement within the team. 

Wayne Bennett was the guest speaker at the conference, providing his insights into team engagement. His main message was that it always comes back to yourself as a leader, not only in business but also in a family setting, and how you need to create an environment where people feel valued. When this is created, you don’t have to worry about any uncertainty, as issues are dealt with upfront and at the time, you treat everyone the same and keep people accountable for their actions, with an understanding of the consequences of not working for and with the team.

Overall it was a great few days and provided a lot of time for reflection on what we do not only from a business perspective but also from a personal perspective, and how others see things differently to you.  I wonder how often you sit back and question your business and look at how things can be achieved in a different way or from a different perspective, with a fresh set of eyes or a change in mindset.  Remember to spend time not only in your business but on your business!

Charitable Trust supports the homeless

The Power Tynan Charitable Trust was established in July 2010, with the aim of giving back and making positive contributions to the communities within which the firm operates.

One such organisation supported by the Trust is the Haven Association, a local charity that provides support and accommodation to young people aged 16-18 who are experiencing homelessness or are at risk of homelessness, giving them a safe place to live, assistance to complete their education, secure employment and to gain independent living skills.

The Power Tynan Charitable Trust presented Amanda Dalton from the Haven Association with a cheque for $1,500, just in time for Christmas.

"The Haven was founded 30 years ago with the support of the Toowoomba community", said Amanda. "This kind donation will go towards providing professional counselling services for young people in need."

The Power Tynan Charitable Trust has donated over $150,000 since its inception in 2010, and is open to the firm's staff, clients and all members of the public to contribute funds.

To donate to the Power Tynan Charitable Trust, or to nominate a local charity to be considered as a beneficiary of the Trust, please visit http://www.powertynan.com.au/community/power-tynan-charitable-trust


 

 

 

LEFT: Brad Hancock and Peter Rowe from Power Tynan present Amanda Dalton of The Haven Association with a cheque for $1,500

Staff Anniversaries - Autumn 2017

This quarter we celebrated the Power Tynan anniversaries of Judy Chapman (five years) and Gilda Brisotto (twenty-five years).

 

Judy Chapman

Education

Stanthorpe State High School

Hobbies & Interests

Spending time with my loved ones, cycling and pilates

When did you start working at Power Tynan?

5th March 2012

Why did you apply for a job at Power Tynan?

I was looking for a position that offered job security and would be a good use of my skills

Why do you enjoy working at Power Tynan?

I enjoy working in the Leasing & Finance area because of the variety of work I get to do. I am passionate about providing great customer service and I really enjoy the challenge of getting loans approved.

 


Gilda Brisotto

Education

I completed a Bachelor of Business at USQ by distance education (I was the first employee of Power Tynan to do this) and have also obtained my CPA accreditation and Diploma of Financial Planning. I’ve also undertaken the full Real Estate course offered by REIQ.

Hobbies & Interests

Travel travel travel – I love seeing new places and have travelled through most of Europe, some of China and some of the US. Every time I go somewhere I find at least two more places I need to visit!

When did you start working at Power Tynan?

March 1992

Why did you apply for a job at Power Tynan?

I was applying for accounting at USQ. At the same time a job as a receptionist came up at Power Tynan and I thought that this might be a good way to get some experience as well as study and luckily for me the directors at the time thought the same. Six months later I was working as a junior accountant and studying externally at the same time.

Why do you enjoy working at Power Tynan?

I love helping clients realise their goals and it’s great to work at a place where the entire team feel the same. The diverse client base that we have means that we get exposed to a lot of different types of issues so there is never time to get bored.

 

Shopping for a “luxury car”? Beware of the luxury car tax!

You can judge whether a car is luxury or not, according to the government, if it costs more than $64,132 for 2016-2017.  

It's not an over-the-top price tag if you're considering true luxury, but it's enough to cop an extra tax.

So what do I need to know about the luxury car tax?

The luxury car tax (LCT) kicks in after that threshold is reached, and has been set at 33%, and applies to the amount that exceeds the threshold (ie. $64,132).

From a typical car buyer's point of view, where the tax is payable it will already be factored into the price quoted by a dealership or car yard.

Before the goods and services tax era (July 1, 2000) luxury cars were slugged with a 45% wholesale sales tax. The luxury car tax that replaced it was set at 25%, but has been 33% since July 1, 2008.

The tax is in addition to GST, and that price threshold includes GST but not charges such as stamp duty or compulsory insurance. The amount of tax is calculated only on the vehicle's value over the threshold, not the GST portion of it (that is, there's no tax on top of a tax).

It also applies only to those registered for GST, so private sales are generally not covered (although it can still apply if you import a luxury car). Businesses acquiring a luxury car will be restricted in their claim for GST credits to the luxury car threshold, so if the car costs more than $57,581 (which is the figure used for luxury car depreciation purposes), GST credits are not available in respect of the excess. In other words, the maximum credit you could claim will be $5,235.

Are there any exclusions?

Yes there are. Generally speaking, vehicles not included are emergency vehicles, trucks or vans that carry more than two tonnes, and passenger carrying vehicles such as buses. Cars specially fitted out to transport disabled people are generally excluded, if the vehicle is supplied inclusive of GST.

Cars that are more than two years old escape the tax, so in general the LCT applies to mostly new vehicles – a second hand luxury car which has had some depreciation therefore may be a good buy.

Fuel-efficient cars (that is, those that burn less than seven litres of fuel per 100 kilometres) are given a break. As long as the fuel-efficient vehicle costs less than $75,526 (for 2016-17), there's no LCT to pay.

Keep this tax in the back of your mind when you shop for your next set of wheels and, as always, please contact your trusted adviser if you require further assistance.