Quarterly Newsletter April to June 2006
Fri Oct 6 2006Happy Birthday To Spectrum!
It is hard to believe, but it is 1 year since five entities joined forces to become Spectrum Financial Partners. We have certainly grown in that time, and we hope that you have experienced both our range and quality of service. We hope to continue our development in the years to come to better service your needs.
In this newsletter, we have a look at the Federal Budget , and we focus on our business of the month, Culpans Electrical Contractors.
We also give you details on how to access our great new business tools on our website, and take a look at Spectrum Loans at Centro Southport.
Regards
Renee Brimelow
Practice Manager
2006/07 Federal
Budget Review
The government has pledged to continue tax reform in this budget, some of the key issues including:
- a plan to simplify and stream-line Australia?s superannuation system, involving the most significant changes superannuation in nearly 20 years.
- personal tax relief worth $36.7 billion over four years to reward effort, improve work incentives and enhance the international competitiveness of our top tax rate.
- enhancement to tax depreciation arrangements worth $3.7 billion to improve business efficiency and competitiveness.
Personal Tax Cuts
The new scale for personal tax rates from 1 July 2006 will be:
- 15% tax threshold expanded to $25,000 (currently $21,600)
- 30% tax threshold expanded to $75,000 (currently $63,000)
- 42% tax rate dropped to 40% and expanded to $150,000 (currently $95,000)
- 47% tax rate dropped to 45% and threshold expanded to above $150,001 (currently above $95,001)
The Federal Budget has also brought about some massive changes in superannuation. Please contact Spectrum Investment Services should you wish to discuss your transition to retirement.
Source: Australian Government.
Year End Tax Planning & Seminar
As 30 June is quickly approaching, we encourage you to contact our office to arrange a meeting to discuss some tax savings options for you and your business.
Also contact our office to find out about the Free Tax Planning Seminar we are holding on 5th June!
Quarterly Cartoon!
Featured Business
of the quarter:
Culpans Electrical Contractor's
A leading Gold Coast Contractor for the past 16 years, Ray Culpan got his start in the business in 1955 when he began an apprenticeship with L.C. Coram in Sydney.
Today he is the managing director of Culpan?s Electrical Contractors where he guides a team of 25 employees working on high profile jobs such as Stocklands Burleigh Heads Shopping Centre, Griffith University Gold Coast Campus, Princess Alexandra Hospital and Caboolture Hospital. Ray has also been inducted in the ECA (Electrical & Communications Association) as a life member.
Based in Burleigh Heads, Culpan?s Electrical Contractors - which employs Ray?s son, daughter, son-in-law and brother-in-law - focuses on commercial and industrial projects as well as integrating automation systems.
The business has grown beyond expectation since winning a major contract in the mid 1990?s to provide electrical services to the Gold Coast?s John Flynn hospital, but Ray has been in business long enough not to become complacent about the company?s success.
?Treating people fairly with honesty and integrity remains very important in business,? he explains. ?And of course, putting the hours in with hard work continues to be the way to achieve success.?
?I keep a list of all our former competitors who have gone bust over the years?, he says. ?It helps to keep me focused because it reminds me just how easy it is to go down.?
CAREER HIGHPOINT
?Being surrounded by a great support team and having great business acquaintances coupled with the tremendous partnership of my wife of 43 years, Rosalind?.
BUSINESS MOTTO
?Manage your company with the same values you raise your family.?
BEST LESSON LEARNT
?Admit your mistakes because you can not always be right.?
Culpan?s Electrical Contractors is located at 5/76 Kortum Drive, Burleigh Heads.
For all your electrical needs, call Culpan?s Electrical Contractors on 07 55 353 311.
Ray Culpan of Culpan's Electrical Contractor's.
Great New Business Tools on the Web!
In our endeavour to provide value-addded services to our clients, Spectrum has added some very useful business tools in a secure members section of our website.
Simply go to http://www.spectrumfp.com.au/accounting-services, then click ?Member Login?. The password is ?specmem?.
A powerpoint presentation and workbook are available on the following topics:
-Service Driven Success 1
-Service Driven Success 2
- Client Payment
- GPL Power
- Hidden Secrets of Advertising
- Recruitment
- Setting Vision
- Creating Systems
- Improving Sales Skills
- SWOT
- Leadership Principles
We hope you will find these presentations both informative and practical.
Spectrum Loans at Centro Southport!
From May 22 to 27, Spectrum Loans had a promotional stall at Centro Southport Shopping Centre. Thanks to everyone who supported the Loans team and entered the draw to win the Weber BBQ.
SPECTRUM FINANCIAL PARTNERS
1300 55 65 35
74 Smith Street, Southport Q. 4215
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