Latest news

Congratulations to Chad Hewish on joining the CA Young Professionals Panel

Congratulations to Chad Hewish on his recent appointment to Chartered Accountants Australia and New Zealand Victorian Young Professionals Panel.

Part of Chad’s role with the Panel is to provide input and advice to CA management to ensure that a strong young member proposition is being delivered.

Xero’s June Release

Xero has released their latest update direct to all Xero accounts. As always, this update was done automatically in the cloud by the Xero team.

Features in the latest release include:
• New payment service for receiving payments directly from invoices
• Added user roles
• Support for four decimal places on unit prices
• Smart lists – a simple customer relationship management feature

For more information please visit the Xero blog

If you have any questions on the latest update or on how Xero can make your business more efficient please contact Phil or Chad.

(03) 9670 5232

Congratulations to Jonno Bretherton who has made the 2014 Hockey Youth Olympics Team

Jonno will compete in the Youth Olympics hosted by Nanjing, China in August.

You can read about the official announcement here

All the best Jonno!

Lani Bullen cycling from Melbourne to Broome for Cystic Fibrosis

Lani Bullen is cycling from Tylden (83kms north-west of Melbourne) to Broome – a distance of approximately 5,000 kilometres – in order to raise money for Cystic Fibrosis. Lani’s sister Elke (Flea) passed away from Cystic Fibrosis in 2007 at the age of 16.

For more information and to donate to the cause, please visit:

Annie McPherson rewarded for work with Ankylosing Spondylitis Victoria

Congratulations to Annie McPherson for being awarded a 2014 Minister for Health Award for outstanding individual achievement for volunteer services in primary care. Annie was selected as one of two people for the award, from a pool of 800.

Annie is the Founder and President of the Ankylosing Spondylitis Group of Victoria and has volunteered in the area for many years.

You can find out more information about the Group here and you can read the Media Release here.

Divison 293 Tax – Super Funds

What is Division 293 tax?

Division 293 tax is being introduced from the 2012–13 year to reduce the tax concession on superannuation contributions for individuals with income greater than $300,000 a year.

Division 293 tax will be charged at 15% of an individual’s taxable concessional contributions above the $300,000 threshold (which are capped for 2012–13 at $25,000). For individuals who are members of a defined benefit fund, Division 293 tax may be calculated on notional contributions, which are not capped.

For more information, contact our office or visit the ATO website.

Xero Introduction Evenings – A Great Success

In conjunction with Xero and Xero Senior Account Manager Jeremy Sutton, Donegan’s has run two successful Xero introduction evenings over the past fortnight.

The events saw over 20 small business owners watch and listen to Jeremy Sutton as he gave a live demonstration of the software.

The main benefits discussed including enhanced collaboration and efficiency.

If you would like to find out more please visit our Xero page and and as always give us a call on (03) 9670 5232.

Overview of Xero from Xero on Vimeo.

BGL Release Simple Fund 360

BGL have just launched Simple Fund 360 – the most flexible and automated super product on the market.

To find out more, visit their website by clicking here

SuperStream launching 1 July 2014

From 1 July 2014 the ATO is launching SuperStream, a government reform aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by submitting data and payments electronically in accordance with the SuperStream standard. All superannuation funds, including SMSFs, must receive contributions electronically in accordance with this standard.

To find out more click here.

February Market Update

We are pleased to enclose the February 2014 edition of Market Update.

Global economies continued to improve, with the International Monetary Fund revising its 2014 global growth forecast up to 3.7%.

Over in Europe there are signals the economic recovery is gaining momentum, with industrial production up 1.8% in November and car sales increasing for the third month in a row. However, the risk of deflation remains at the forefront of the Eurozone with CPI increasing only 0.8% in December.

In domestic news, economic growth remains weak with below trend growth rates. While the December unemployment rate did remained unchanged at 5.8%, we saw employment rates fall in every state except Western Australia. On an encouraging note, the housing market is looking positive with housing finance approvals rising by approximately 2% per month.

If you would like to discuss anything in this report please don’t hesitate to contact Alison Foenander of our office.

Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs. Apogee Financial Planning Limited ABN 28 056 426 932, registered office 105 – 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies. From time to time Apogee Financial Planning, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non pecuniary benefits from the financial products and services mentioned herein.

RBA decides to leave cash rate unchanged at 2.5%

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Since the Board’s previous meeting, information on the global economy has been consistent with growth having been a bit below trend in 2013, but with reasonable prospects of a pick-up this year. The United States economy continues its expansion and the euro area has begun a recovery from recession, albeit a fragile one. Japan has recorded a significant pick-up in growth, while China’s growth remains in line with policymakers’ objectives. Commodity prices have declined from their peaks but in historical terms remain high.

The Federal Reserve has begun the process of curtailing stimulus measures but financial conditions overall remain very accommodative. Long-term interest rates and most risk spreads remain low. Equity and credit markets remain able to provide adequate funding, but for some emerging market countries conditions are considerably more challenging than they were a year ago.

In Australia, information becoming available over the summer suggests slightly firmer consumer demand and foreshadows a solid expansion in housing construction. Some indicators of business conditions and confidence have shown improvement. At the same time, with resources sector investment spending set to decline significantly, considerable structural change occurring and lingering uncertainty in some areas of the business community, near-term prospects for business investment remain subdued. The demand for labour has remained weak and, as a result, the rate of unemployment has continued to edge higher. Growth in wages has declined noticeably.
Inflation in the December quarter was higher than expected. This may be explained in part by faster than anticipated pass-through of the lower exchange rate, though domestic prices also continued to rise at a solid pace, despite slower growth in labour costs. If domestic costs remain contained, some moderation in the growth of prices for non-traded goods could be expected over time.

Monetary policy remains accommodative. Interest rates are very low and savers continue to look for higher returns in response to low rates on safe instruments. Credit growth remains low overall but is picking up gradually for households. Dwelling prices have increased further over the past several months. The exchange rate has declined further, which, if sustained, will assist in achieving balanced growth in the economy.

Looking ahead, the Bank expects growth to remain below trend for a time yet and unemployment to rise further before it peaks. Beyond the short term, growth is expected to strengthen, helped by continued low interest rates and the lower exchange rate. Inflation is expected to be somewhat higher than forecast three months ago, but still consistent with the 2–3 per cent target over the next two years.
In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates. (04.02.2014)

January Market Update

Donegan’s Wealth Advisers are pleased to enclose the January 2014 edition of Market Update.

Global economies last month continued to show signs of improvement, with rising employment and overall higher demand seen throughout the major economies.

In the US, the Federal Reserve started its dial down of QE3, with an initial reduction of US$10b, down to US$75b. Janet Yellen, the new Federal Reserve Chairperson elect, was also voted in by Congress.

On the home front, residential property finished 2013 on a strong note, with sales volumes at record levels in Sydney and Melbourne. The Mid Year Economic and Fiscal Outlook was also released last month, and concluded that the budget would remain in deficit throughout the forecast period until 2016/2017.

As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.

If you’d like to discuss anything in this report please contact Donegan’s Wealth Advisers.

Market update 15th January 2014

Seasons Greetings | Office reopening Monday 6th January, 2014

Donegan’s would like to wish all its clients an enjoyable Christmas holiday period!

Note, the office will reopen Monday 6th January, 2014.


“A Year in Review” by MLC’s Brian Parker

Click here to read MLC’s Senior Investment Consultant Brian Parker’s annual review of the Australian and Overseas investment market.

Congratulations to Chad Hewish on receiving a Merit Certificate for Management Accounting

Chad Hewish has earned a result in the top 5% of his class for Management Accounting, a subject within the Institute of Chartered Accountants Course.

The Institute awarded Chad with his Merit Certificate for this achievement at Crown Palladium on the 28th of November.

It’s time to get serious about your finances…seriously

With hectic lives, it can be difficult to think beyond the next few days or weeks, and planning for life’s financial milestones often gets pushed to the bottom of the priority list. But these milestones: getting married, having a baby, paying off the home loan or switching jobs, have their costs.
Whether you’ve a milestone on the horizon, or you want to be proactive about planning for your financial future, getting the right advice can help you reach your goals sooner.

Here we look at five milestone moments when getting serious about your finances can seriously help you.

Getting married
Cakes, confetti, a douse of courage, and some hefty costs! It seems whenever the terms ‘wedding’ or ’bride’ are involved, a zero is added to any price tag! From hen do’s to honeymoons it pays to do a full bridal budget.

To help with the costs of planning for your wedding and your financial future as a couple, most financial planners will offer an initial free consultation.

This gives you the chance to get to know the adviser and make sure you’re comfortable with them before you have to make any decisions involving fees. Contact Alison Foenander of Donegan’s Wealth Advisers to find out exactly what they do and how they can help you specifically.

According to Alison Foenander of Donegan’s Wealth Advisers there are plenty of strategies couples can take advantage of. “Getting married doesn’t mean everything has to go into one joint pot; there are lots of strategies an adviser can show you to make the most of your money and help you reduce the tax you pay,” Alison says.

Having children
Thinking about starting or adding to your family? Having a baby is an extraordinary gift, but from the minute you see those double lines on the home pregnancy test, the questions start.
Are we ready for this? Will we be able to do it? Are we going to be good parents? Not forgetting one of the biggest factors in today’s increasingly expensive world: can we afford it?
A recent study conducted by the National Centre for Social and Economic Modeling revealed: “…the total cost in today’s dollars is $448,000 for the average family to raise two children from birth to age 20. For the average couple with two children today, those children cost around $310 a week.”
Taking time plan for your future means, even if your income levels change, you’ll still be able to maintain your family’s lifestyle without worrying about money.

Things to think about include:
1. How do you protect and keep your family financially secure? Do you have enough life, disability and income protection insurance? A recent survey by put the ‘market value’ of a stay-at-home mum at $124,000 per year.
2. How would your family income change if one person takes time off to stay at home with the kids?
3. Have you done a baby budget, including everything from cots to a new family car?
4. Are your wills up to date?
Donegan’s Wealth Advisers can help with these questions and can also help you set up your insurance inside your super so you don’t have to worry about your cash flow being affected.

10 years into the mortgage
Most homeowners have the same thought at some stage or another: ‘how do I pay off my mortgage faster?’ Believe it or not there are a lot of things you can do to get the end of those payments in sight sooner.
Alison Foenander says that, “It’s important for a mortgage to be set up correctly from the outset.” Other simple tips, like increasing how often you pay your loan can make a difference. You don’t pay any more per year, but by paying more frequently such as every fortnight, you’ll reduce your interest amounts and this can mean reducing your home loan by hundreds of dollars a year.

Changing jobs
Changing jobs is stressful enough without worrying how it might affect your long-term financial goals.

But it’s a great time to get some one-on-one advice to find the right super for you so you don’t end up with multiple super accounts, each with their own separate fees.

“What would you do if every pay day someone, who was virtually unknown to you, took over 9% of your pay and said ‘don’t worry I’ll look after it for you’? Would you let them walk away and assume the money would come back to you at some time, with interest?” says Alison Foenander “There’s an assumption it will be looked after and a sense of comfort there’ll be a nice nest-egg waiting for our retirement” continues Alison Foenander “but many funds saw steep losses during the GFC and having the right advice as to which fund you should be with and how to invest your super to suit your needs can help you reach and even exceed your financial goals.”

Receiving a lump sum payment
You might have received a bonus, windfall or bequest or maybe you’re even going through a divorce. In any even you need that money to work to secure your long-term future. Quality financial advice can help you make the most of your situation.

Donegan’s Wealth Advisers will consider your investment timeframe, attitude to risk and the investment choices available. They’ll also look at how you can invest your lump sum tax effectively and develop a plan to get your finances working.

Is it time for you to get serious with your finances? Contact Alison Foenander of Donegan’s Wealth Advisers for more information on 03 9670 5232 or via email at to book your free initial consultation today.

Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee, Registered office at 105-153 Miller Street, North Sydney, NSW 2060 and a member of the National Australia Group of Companies. This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.

November Market Update

November Market Update

Enclosed is the November 2013 edition of Market Update.

If you’d like to discuss anything in this report please contact Alison Foenander

Lunch Money Charity Auction

We are proud to be supporting Dianna Snape and her 10 day on-line auction “Lunch Money”.

Lunch Money is supporting African students by raising funds in order to provide the students with lunch each day.

To bid or to find out more information, visit:

Impact English College’s Latest Success

Congratulations to one of our clients, Impact English College, for being awarded with a prestigious Governor of Victoria Export Award (GOVEA) in the Education and Training section!

To read more about this award, click here