Message from CEO

Dear JV Partners,

We thought we would take the opportunity to update you on the progress we have made in consideration of a new investment consultant or consultants to support Prime’s investment committee.

Our process has been extensive having spoken to approximately 15 different groups and / or individuals, all of which have assisted us in identifying the qualities we feel will be most valuable for clients, the financial advisory team and you as JV Partners. We have been very encouraged by the calibre of candidates we have met and are excited by the prospect of our future collaborations. We expect to be in a position to make an announcement inside of four weeks as we narrow the pool to a select few and complete the appropriate due diligence.

In other news, it has been pleasing to produce our recent recommendation and client webinar on improving returns on cash, naturally and not surprisingly an area of great interest to clients. If you would like more information on this or feel that prospective clients would like to have a discussion in this area we would be pleased to assist.

Finally, we would like to confirm that we have recently relaxed the minimum Statement of Advice (SoA) fee for less sophisticated advice. This is by no means about stepping away from the value of the initial advice piece, rather a recognition that simpler matters can be dealt with more efficiently and cost effectively. Continuing on the topic of advice, you will also see in our discussion pack a note that was drafted by Michelle Bromley, Prime’s Director of Strategy & Advice, on the value of advice, please take the time to read it, it is a great and simple explainer on why clients benefit from partnering with our JV for wealth management.

As always, we hope your team and you are well and if you’d like more information or simply to chat or check-in please do not hesitate to drop us a line.

Best,
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 note we sent out.

2020.09.25
Returns from Cash
Sent to fee paying clients, focusing on increasing returns from cash.

WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Research on Melbourne & Sydney property markets

Following our recent forum session with Performance Property, they have released research reports on Melbourne and Sydney property markets. In each market, they explore the following key areas: demand vs supply, market affordability and confidence. Please click below to view the reports.
Melbourne Sydney

WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

The value of advice

Michelle Bromley (Director – Strategy & Advice) on the value of advice and why clients benefit from partnering with our JV for wealth management.
Read more

WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Summary: Returns from Cash

Cash rates are already at historic lows and are forecasted to remain at these levels for years to come. This is problematic for investors because in real terms (adjusted for the rate of inflation), the return on cash held in traditional short-term deposit/transactional accounts is already negative.
Read more

EVENTS –
WEALTH FORUM RECORDING 

Improving your returns & income on cash

During this session, Prime’s Chairman of the Investment Committee & Partner, Mark Johnson talked through Prime’s approach and strategy to improving cash and cash equivalent returns and how we will personalise this to individual clients.

He was joined by guest speakers Dr Laura Ryan, Head of Research and Alex Stanley, Research Analyst – Ardea Investment Management (Ardea), who provided an update on current market conditions and Ardea’s current strategy.

If you’re interested to watch, please click below.
WATCH NOW

EVENTS –
BUSINESS OWNERS STRATEGY FORUM RECORDING

Achieving business & life aspirations

Vanessa Mathews (Founder – Mathews Family Law) and Matt Murphy (Managing Director – Prime Accounting & Business Advisory) discuss Vanessa’s journey as a business owner, how to balance professional and personal aspirations and how Prime helped her navigate through her business journey.
WATCH NOW

SMSF

Crisis presents SMSF opportunities

It is fair to say that 2020 has been a challenging year for most people on some level. From the fires, the floods, share markets dropping and then Covid! Amongst all this bad news there is a unique opportunity which has presented itself for a certain demographic this year.
READ MORE

SMSF

Q&A with Olivia Long

Olivia Long (Prime’s Managing Director – SMSF) and Alan Kohler (Editor-in-Chief, Eureka Report) discuss a number of SMSF related questions and more.
Listen to Q&A

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.

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 previous 2020 tax year. 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 but at this stage looks like it is being delayed.

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:

  1. Removal of the requirement to generate export income from the businesses 3rd claim onwards.
  2. 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.

The Government also recently announced a proposed re-vamp to the EMDG scheme which will take affect from July 2021. The new scheme will be based on an approved upfront grant programme. We will provide further details in due course as we get more information.

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.