WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Team Update

Click below to read our important team announcement for the month featuring update on Fee Disclosures and renewals, ASIC Funding Levy, FASEA exam and our new Adviser.

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WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Navigating COVID lockdowns from an ASX portfolio perspective

Hear Marcus Bogdan, Prime Investment Committee Member, Australian Equities Specialist and CIO of Blackmore Capital discusses portfolio positions in Quality Defensives and the Energy & Materials sectors. Navigating COVID lockdowns from a portfolio perspective requires defensive attributes with a focus on consumer staples and industrials, as well as being alert to reopening plays.

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WEALTH MANAGEMENT – ADVICE, CLIENT SERVICE & EXPERIENCE

Wholesale Property Investment brochure – Updated

See the most up to date listings of the recent projects Prime have made available to investors. If you have any questions or would like to discuss these opportunities further with us, please get in touch with us.

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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.

2021.07.07
SEVEN GROUP TAKEOVER OFFER FOR BORAL – ACCEPT

PRIME SMA

Monthly Commentary

The rapid economic recovery from the pandemic has supported continued momentum in equity prices with the ASX 200 rising 2.3% in June.

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SMSF

SMSF Q&A: Ask Olivia

Olivia Long (Prime’s Managing Director – SMSF) discusses SMSFs in pension mode, super contributions splitting and more.

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Listen to Q&A

ACCOUNTING SUPPORT

Export Market Development Grant Updates

EMDG is changing from 1 July 2021 to a new grants program. But there’s an overlap for exporters, consultants and agents who wish to apply for reimbursement under the EMDG scheme.

Old Program – Grant for past expenses

Applications for expenditure incurred during the previous financial year ended 30 June 2021 under the existing EMDG programme can now be lodged. This is the last year program.

This long running grant provides exporters with an annual reimbursement of up to $150k – based on 50% of their eligible promotional expenses. Austrade announced the export earnings test will apply to applicants submitting their 3rd – 8th applications.

Austrade also announced that grants approved up to $30,000 will be paid in full and grants above $30,000 will be paid in 2 tranches.

  • • First tranche will be $30,000
  • • Second tranche in late June 2022 – subject to available funds in the program.

New Program – Approval for upcoming spend

Austrade has announced the launch of the new EMDG program. From 1 July the new program will become an ‘Approval up front’ grants program. The grant is approximately 50% of eligible marketing expenses subject to grant limits and the tier you qualify for.

Each tier is designed to provide different levels of support. Applicants are potentially eligible to apply up to $770,000 over 8 financial years. Please note that if you have claimed under the old program your EMDG claim history will carry across to the new program.

Tier 1: Ready to Export – First time exporters – Maximum 2 years and grant of up to $40,000 per financial year for 2 years.

Tier 2: Expanding – Currently exporting and expanding export promotion activities. Maximum 3 years and maximum $80,000 per financial year.

Tier 3: Expanding and strategic shift – Currently exporting, expanding your export promotion activities and making a strategic shift. Maximum 3 years and maximum $150,000 per financial year.

We note that the 8 years do not need to be consecutive and you are not required to work your way through the tier’s; for example, some applicants may apply under Tier 2 more than once.

Grant Application and Payment
Applications open 16th August and close 30 November 2021 and you will need to complete/provide the following:

  • • Complete application form and apply for appropriate tier
  • • Provide requested information (Plan to market, Profit & Loss and Balance Sheet, Evidence of most recent export sales (Tier 2 & 3 only))

After the applications have closed on 30 November Austrade intend to contact all applicants within 8 – 10 weeks of closing date and provide a grant agreement for eligible applicants to sign. This agreement will include the amount of funding to be provided based the available funds determined by Austrade.

Grant payments will be made by way of annual payments and the timing of the payments will set out in the grant agreement. You will be required to provide a milestone report within the require timeframe detailed in the grant agreement. Once the milestone report has been reviewed and approved you will receive you eligible funding.

Assistance
Prime can assist the both lodgement of the old and new program. Should you have any questions please do not hesitate to contact Stuart Thomson via email or on 03 9869 5927.