Message from CEO

Dear JV Partners,

I hope the new financial year has started well for you, your team and your clients in what continues to be an environment requiring flexibility and focus.

Our team has been busy with client queries, recommendations and new advisory mandates and are entering this financial year with an optimistic but cautious approach.

As discussed in different forums, communications and conversations, in light of continuing industry change and increased complexity we are proactively reviewing our advisory model and its application for clients, including;

  • Minimum fees and services for smaller clients
  • A review of retail clients transactional fees with a view to combining these into one ongoing service fee, much like how fees are charged on the SMA service, and
  • Progressively winding back our in-house mailhouse service in favour of the Macquarie WRAP solution, where appropriate for clients, the majority of which currently utilise it

We continue to reiterate that there will be no change to the minimum fees for smaller clients without first having a conversation with you, however, if you should have any queries on any of the matters outlined above please do not hesitate to contact myself or Angelina Rigoli (General Manager – Wealth).

All the very best for a prosperous and safe financial year.

Simon Madder.

WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Corporate Actions & Updates

As part of keeping you up to date on the communications that we are discussing with clients, please click below for the most recent notes we sent out.

2020.07.09
Challenger Limited (CGF) Share Purchase Plan – DO NOT SUBSCRIBE
– Sent today to all fee paying clients holding Challenger

2020.07.17
Alternative Assets – Buy Gold (GOLD, QAU)
– Sent to remaining fee-paying clients who do not hold Winton and therefore didn’t receive the previous note

2020.07.27
BWX Limited (BWX) Share Purchase Plan – BWX
– Sent to fee-paying clients holding BWX

2020.07.31
Downer Edi Limited (DOW) Non-Renounceable Rights Issue – SUBSCRIBE
– Sent to fee-paying clients holding DOW

WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Estate Planning – Minimising Super Death Benefit Tax

Written by Michelle Bromley CFP®, Director – Strategy and Advice

While death duties in Australia were abolished in the late 1970’s, some quasi-death taxes remain, including capital gains tax and superannuation death benefit tax.
Read more

EVENTS

Join us on 19th August: Wealth Management & Protection Forum

We are pleased to be joined by David McMillan, Director – Acquisitions for Performance Property, who will discuss the current investment property market, what trends he sees due to COVID-19 and considerations for future investment. To join this session, please click below.
REGISTER

EVENTS

Watch now: Investing in sustainable technology & environmental equities

Recently we had Tom King (CIO – Nanuk Asset Management) join our monthly Wealth Management Forum, where he discussed in length about the current outlook for sustainable technology and green investments post COVID-19. Click below to watch it.
WATCH NOW

EVENTS

Watch now: 60 minutes with Declan Ryan

During our recent Business Owners Strategy Forum, we were joined by Declan Ryan (Group CEO – Database Consultants Australia), who spoke on 5 year business planning, strategies to weather economic uncertainty and more. Click below to watch it. Our next session will be announced soon.
WATCH NOW

SMSF

Ask Alan Podcast with Managing Director – SMSF, Olivia Long

Olivia Long and Alan Kohler (Editor-in-Chief, Eureka Report) discuss a number of superannuation related questions, including whether cryptocurrencies can be held in a SMSF, what a good financial advisor charges and more.
LISTEN TO PODCAST

ACCOUNTING SUPPORT

Summary of Government Grants Available

Over the past months, the state governments have released a multitude of grants for SMEs. We have listed a summary of the grant funding programs currently on offer.

Australia-wide
JobKeeper payments
PAYG cash flow boost
Economic support – VIC, QLD, NSW

Victoria
Payroll Tax Refund
Local Lockdowns Business Support Program
Regional Tourism Accommodation Support Program
Night-time economy support program
CBD Business Support Fund
Commercial tenancy relief scheme

Queensland
Small Business COVID-19 Adaption Grant Program

For any enquiries or support, contact our team at 03 9869 5900 and enquiry@primefinancial.com.au.

ACCOUNTING SUPPORT

R&D and EMDG Updates

R&D Tax Incentive

R&D tax incentive applications for the previous tax year ended 30 June 2020 can now be lodged with AusIndustry. Note: The government recently announced that R&D salaries paid the under Jobkeeper programme cannot be claimed for R&D tax incentive.

There is also still an ability to lodge R&D tax incentive applications for the previous tax year ended 30 June 2019 due to a COVID-19 extension. The extended lodgement date is 30 September 2020.

Getting organised early and accessing the government’s 43.5% R&D tax incentive cash rebate could provide a vital form of funding to assist your business get past the current COVID-19 situation.

Prime can also provide introductions to R&D financiers that may lend up to 80% of your expected R&D rebate from the 2019 or 2020 tax years. There is also an opportunity to lend against your R&D rebate that is being accrued for the current year ended 2021.

Note: Proposed legislation has been re-introduced into Parliament to reduce the current 43.5% R&D refundable tax offset to 41%. This legislation may passed to apply retrospectively for expenditure incurred during the tax year ended 30 June 2020. We will monitor progress of the legislation and update accordingly.

Export Market Development Grant (EMDG)

EMDG applications for the previous financial year ended 30 June 2020 can be now lodged with Austrade.

This grant provides exporters with an annual reimbursement of up to $150k – based on 50% of their eligible promotional expenses. There are several expense categories including online advertising, appointment of overseas reps and securing overseas patents and trademarks.

As such there is still an ability to incur eligible expenditure without leaving Australia.

Austrade’s recently announced COVID-19 stimulus measure for the EMDG include:

– Removal of the requirement to generate export income from the businesses 3rd claim onwards.

– Increase in the first tranche payment to $100,000 (previously $40,000).

Note: The above measures are only planned to apply for this claim year.

For any enquiries or support:

Melbourne team
Brendan Brown Simone Quin

Brisbane team
John Driscoll Sean Fincham


The information in this page contains general advice and is provided by Primestock Securities Ltd ABN 67 089 676 068, AFSL 239180 (‘Prime’). That advice has been prepared without taking your personal objectives, financial situation or needs into account. Before acting on this general advice, you should consider the appropriateness of it having regard to your personal objectives, financial situation and needs. You should obtain and read the Product Disclosure Statement (PDS) before making any decision to acquire any financial product referred to in this page. Please refer to the FSG (https://www.primefinancial.com.au/fsg) for contact information and information about remuneration and associations with product issuers. This information should not be relied upon as a substitute for professional advice, and we encourage you to seek specific advice from your professional adviser before making a decision on the matters discussed in this page. Information in this page is current at the date of this page, and we have no obligation to update or revise it as a result of any change in events, circumstances or conditions upon which it is based.

What our clients say

“First class advice and service leading to real business advisory support and growth.”

Ben Hughes, EconomX

“We’ve been with Prime now for nearly 10 years and they have always strived to understand our business needs and have contributed enormously to our growth from start-up tech to product commercialisation.”

Robert Kerr, Enopte Solutions

“Prime provides us a highly personalised service covering our financial needs. Our strategic advice has been proactively provided whilst ensuring our investments are professionally managed without requiring our daily input. We feel comfortable knowing Prime is looking after our investments.”

Ian, VIC

“In working with Prime, I have been connected with a trusted ‘go to’ source of knowledge, mentorship, tools, services, contacts and – most importantly – a friend on the ground for anything related to financial decisions when feeling a little overwhelmed.”

Amy, QLD

“The team at Prime Financial provide an excellent full service offering to my organisation. Communication between teams is excellent and they genuinely put the best interests of their clients first.”

Alan King, VIC

“I am very pleased with Prime. I have called my adviser when I have questions and have always received prompt replies and all of the support I needed.”

Bob & Denise, NSW

“We are busy running our business, which takes up most of our time! To have someone we know and trust in charge of our money is so comforting. I enjoy the quick and clear communications I have with my adviser and I trust his suggestions for our investments.”

Jack and Pauline, VIC

“Prime is a lot more that an accountant to us. They are well equipped with the knowledge to help solve any problem businesses come across.”

Gavin Lowe, UDL Group

“We have worked with Prime for fifteen years as our financial adviser. Prime has always guided us through with professional advice on our financial decisions, whether it be in the local office or over the phone. We have found our adviser, Garry, has gone above and beyond the call of duty with regards to our retirement and financial matters in a friendly and caring way.”

Karen & Russell, QLD

“I find Michelle service to me is of high value. She is knowledgeable and transfers the information to me clearly. Thank you Prime.”

Kathryn, WA

“In all the years l have had to do the R&D rebate and other grants, l have never been better looked after than here at Prime. The staff are super friendly, trustworthy and keen to get me the best result that they can. I would recommend Prime to anyone who wants to use this service. You have a client for life.”

Vern Brickman, Adverto

“We have always felt that our advisor listened carefully to what we expected and responded appropriately. Livio is always interested in us as a couple and our lifestyle- we have never felt like we were bulk handled.”

Ian & Cherie, VIC

“I have been a client of Prime for just over 3 years and I am confident that the advice and service I have received during that time has been in my best interests.”

Lannette, QLD

“Opening my own business was a relatively daunting task. Prime and their extremely professional approach were essential in ensuring that it was executed properly. I would recommend Prime to anyone looking for leading advice with great customer service.”

James Reti, Reti Consulting

“I have been using Prime for many years and one of the things I appreciate most is that their advice is only a phone call away and I always feel as a customer that Prime have my best interest at heart. It is a very personal service executed by very personable and helpful individuals. My advisor feels like family I am very satisfied.”

Christopher, ACT