Australia's 3rd Largest Economy

Member News


  • 17-Sep-2020 13:00 | Tracy Dawson (Administrator)

    Assemble your best outfits because this year The William Inglis Hotel are celebrating Melbourne Cup roaring 20's style. Think champagne, feathers, glitz and glamour.

    Watch the races live on multiple large screens, feast on a delicious lunch and cheers with a glass of sparkling on arrival.

    When:

    Tuesday, 3 November 2020

    Where:

    155 Governor Macquarie Drive, Warwick Farm 2170

    Inclusions: 

    Live cup coverage

    Tab machines onsite

    Prizes for best dressed

    Welcome glass of sparkling on arrival

    Hot and cold gourmet lunch with live chef stations

    Cost:

    $79.00pp

    Bookings:

    P: 02 9058 0312

    E: HB042-EV1@accor.com


  • 15-Sep-2020 16:51 | Tracy Dawson (Administrator)

    It’s a common dilemma for business founders: reduce personal risk, sell and move on, or invest, with a view to accelerating growth? Particularly at the moment, in a global environment without clarity or certainty, many of these choices will come down to an individual’s risk tolerance. Read more here.


    Macquarie has been providing Business Banking solutions for over 30 years and provides SME clients with tools and strategies to grow and develop their business. You can get regular updates by subscribing to the monthly newsletter, Strictly Business by visiting macquarie.com.au/businessbanking. If you would like to find out more about how Macquarie can support you to take your business further, call Sam McCarthy at our Parramatta office on 0417 518 724 and be connected with one of our banking specialists.

    This information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 (“Macquarie”) for general information purposes only. This information does not constitute advice. Opinions expressed are subject to change without notice. No member of Macquarie accepts any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this information.


  • 08-Sep-2020 10:22 | Tracy Dawson (Administrator)

    Matthews Folbigg Lawyers has announced the appointment of a new Managing Director, Simone Brew, the head of the firm’s Litigation, Planning and Local Government groups. Matthews Folbigg Lawyers is the premier medium sized firm in Western Sydney, based in Parramatta, with 8 practice groups and over 60 lawyers and legal service professionals.

    Chairman of Matthews Folbigg Lawyers, Jeff Brown said “Matthews Folbigg is delighted to announce Simone’s appointment as Managing Director. She has been an integral part of the firm’s Executive group for many years and in particular has been instrumental in leading the firm’s response to the COVID-19 pandemic. This is just one example of the strengths that make her qualified to lead our firm into the future”.

    Ms Brew said “I am looking forward to working with our Executive group and building on the significant successes we have achieved over the last 5 years. Matthews Folbigg has been around for 60 years, and over the last several years we have worked hard to streamline its management and make sure our focus is on delivering outstanding legal services for our clients, while at the same time looking after our valuable staff. This will continue to be my focus for our clients and the firm”.

    Simone commenced her legal career in 1996 and joined Matthews Folbigg in 2003. She has over 24 years’ experience in litigation, planning and local government.

    Matthews Folbigg Lawyers, and its lawyers including Simone Brew, are recognised among the Doyles Recommended Law Firms and individuals in Planning, Family Law and Insolvency.

     


  • 14-Aug-2020 14:53 | Tracy Dawson (Administrator)


    We know many of you are keen to return to face to face events, however we understand that this model may not suit everyone. We are therefore delighted to announce that our upcoming Breakfast Masterclass: Proven Strategies To Improve Engagement on Social Media will be delivered as a hybrid event.

    For those wanting to physically attend, we will have the following safety measures in place:

    • A maximum of 24 people in the room (including Presenters)
    • Seating and table social distancing (only 4 attendees per table)
    • No registration - attendees will be given their table number prior to the Masterclass, so they can make their way directly to their seat.
    • Prior to the event, you will be able to submit seating requests (ie: who you would like to be seated with).
    • Table service which includes a plated breakfast with barista tea and coffee
    • Hand sanitiser on every table
    • A WSBC representative on hand to specifically ensure safety measures are adhered to

    In addition, WSBC's venue partner for this event, PARKROYAL Parramatta, are a NSW government registered COVID safe business and have implemented various cleaning and disinfecting policies and social distancing measures for the safety and well-being of guests.

    There are only a few seats left for this Masterclass. If you wanting to physically attend, please click here to book your seat.

    For those wanting to take part online via our live stream, you will:

    • get to sleep in an extra 30 minutes
    • receive a workbook prior to the Masterclass so you are ready to begin work on your social media strategy once online
    • have the opportunity to ask the presenter questions via our Masterclass moderator.

    For further information or to book your virtual seat for the live stream please click here.

    Breakfast Masterclass: Proven Strategies To Improve Engagement on Social Media

    Social media marketing is an essential part of doing business in 2020 and offers incredible opportunities for all sizes and types of businesses to engage with new audiences and grow their brand awareness.

    Done right it’s like networking on steroids! However many businesses find that despite investing a lot of time on multiple platforms their social media posting delivers absolutely no results. 

    This Breakfast Masterclass is for business owners and leaders who want to get reliable results and return on investment from the rapidly changing social media space. Delegates will learn which platforms will work for their type of business, what kinds of social media content deliver positive engagement and how to create a strategic and effective social media plan.

    Masterclass Takeaways

    • What you should stop doing immediately
    • Which social media platforms you need to be on now
    • Creating content that stops the thumb and delivers the click
    • Being smart and strategic for maximum ROI

    Format

    • Interactive session 
    • Industry relevant case studies used for illustration

    • Begin work on your social media plan
    • Social media strategy workbook to take away and continue

    If you wanting to physically attend this Masterclass, please click hereAlternatively to book your virtual seat for the live stream please click here.


    This Masterclass is proudly supported by:


  • 13-Aug-2020 17:36 | Tracy Dawson (Administrator)

    City of Parramatta Council has unveiled an innovative proposal to expand the Justice Precinct in the Parramatta CBD, bringing more than 2,200 legal jobs to the City and boosting the local economy by $350 million a year.

    Under the proposal, endorsed by Council this week, the expanded precinct would include a permanent Supreme Court circuit, a new law school, and a legal start-up hub to encourage new ideas in the delivery of legal services.

    “As a rapidly growing economic powerhouse in the centre of global Sydney, Parramatta needs bold initiatives such as this one to help realise its full potential over the coming years,” City of Parramatta Lord Mayor Cr Bob Dwyer said.

    “We are home to the second largest legal centre in NSW, but only have 5 per cent of Greater Sydney’s legal jobs. By growing Parramatta’s Justice Precinct, we hope to see more barristers, solicitors, judges and judicial staff based in Parramatta, providing valuable legal services to the people of Western Sydney.”

    Cr Dwyer said investment in an expanded Parramatta CBD Justice Precinct was vital given the number of legal professionals living within 30 minutes of Parramatta will almost double over the next 15 years.

    “With the growth and transformation Parramatta is experiencing, it makes sense that our Justice Precinct grows with it,” Cr Dwyer said.

    “Not only will an expanded Justice Precinct accommodate the needs of our growing population, but it will also help support and retain local legal talent and encourage new and innovative ways to improve the justice system.

    “We look forward to working closely with the relevant state and federal government departments and industry experts to make this vision a reality.”

    The idea was first brought to Council by former Lord Mayor Cr Andrew Wilson in 2018. In response, Council commissioned an independent report by SGS Economics and Planning analysing the demand for legal services in Parramatta, as well as the economic and service benefits of the precinct to the City.


  • 30-Jul-2020 10:49 | Tracy Dawson (Administrator)

    A plan to unlock Parramatta’s CBD and strengthen its position as Sydney’s Central River City has been endorsed by the NSW Government for public exhibition.

    City of Parramatta Council’s Parramatta CBD Planning Proposal seeks to expand the City’s CBD boundaries and change land use controls to increase capacity for commercial opportunities and high-density residential development, supported by a revitalised night-time economy and open public space.

    The Planning Proposal allows for 50,000 new jobs and 14,000 additional dwellings in the Parramatta CBD.

    “This is a significant milestone and an exciting next step in the transformation of Parramatta as Sydney’s Central River City,” City of Parramatta Lord Mayor Cr Bob Dwyer said.

    “Council initiated this game-changing proposal to help us realise our vision for the Parramatta CBD – an economic leader with a thriving commercial centre that attracts world-class businesses and offers incredible lifestyle opportunities for residents.”

    Following endorsement by the NSW Government, the Parramatta CBD Planning Proposal will go on public exhibition in the coming weeks for community feedback.

    Key aspects of the proposal include:

    • Expanding the CBD’s commercial core and introducing incentives for new commercial floor space;
    • Increasing height controls to accommodate taller, slender towers so sunlight and air can reach the streets and public spaces below;
    • Ensuring new development includes community infrastructure to support growth;
    • Protecting key public spaces, including Parramatta Square and the river foreshore, from overshadowing;
    • Introducing new controls that ensure a development demonstrates an appropriate relationship to the City’s heritage;
    • Introducing controls to ensure a development’s ground floor better connects with its surrounds, including the Civic Link and river foreshore;
    • New controls to better manage flood risk, including evacuation and emergency response;
    • New provisions that ensure new buildings perform to high environmental standards; and
    • New parking and road widening provisions to facilitate improved traffic management and active transport.

    “This proposal will help us capitalise on the unprecedented levels of interest and investment in Parramatta, and cement its place at the centre of global Sydney,” Cr Dwyer said.

    “We look forward to sharing these City-shaping plans with the community and seeking their feedback during the public exhibition period.”

    For more information, visit www.cityofparramatta.nsw.gov.au/councilprecinct-planning/parramatta-cbd-planning-proposal


  • 28-Jul-2020 15:49 | Tracy Dawson (Administrator)

    On 23 July 2020, the Treasurer released an update on Australia’s Economic and Fiscal Outlook.

    The update provided details of the impact of the COVID-19 pandemic on Australia’s economy and fiscal position, taking into account the stimulus measures introduced, including the JobKeeper program.

    This follows announcements on 21 July 2020 in respect of the outcomes of Treasury’s review of JobKeeper and the Coronavirus Supplement payment.

    The update reiterates that the economic and fiscal outlook remains highly uncertain at this stage, and therefore presents fiscal estimates for 2019-20 and 2020-21 only. It highlights that the Government’s stimulus and support measures expenditure together with large declines in taxation receipts, has resulted in a major deterioration in the budget position.

    Learn more about the economic outlook, a review of JobKeeper and support for businesses.


  • 22-Jul-2020 17:16 | Tracy Dawson (Administrator)

    By Greg Travers, William Buck

    Larger private groups are about to come under even more scrutiny from the Australian Taxation Office (ATO).

    The ATO has announced that it’s now notifying larger private companies that they will be required to lodge the Reportable Tax Position (RTP) schedule with their income tax return for the 2020/21 financial year.

    This significantly expands the tax disclosures that private companies need to make and will materially increase the possibility that the ATO will identify tax risks in a private group and select them for audit.

    Private groups should view this as an opportunity to reassess the potential tax issues in their group and improve their approach to managing them.

    The RTP is required to be lodged by private companies that have total business income for 2018/19 of either:

    • $250m or more; or
    • $25m or more and are a part of a private economic group with total business income over $250m.

    This information is based on the 2019 tax returns.

    Public companies and foreign owned companies are required to self-assess the need to lodge the RTP schedule for the 2020/21 income year. Large private companies will be required to self-assess their lodgement requirement from the 2021/22 income year.

    There are three categories of RTP that need to be considered:

    • Category A – A position disclosed in the taxpayer’s income tax return that is as likely to be correct as incorrect, or less likely to be correct than incorrect
    • Category B – A position where uncertainty about taxes payable or recoverable is recognised and/or disclosed in the taxpayer’s or related party’s financial statements; and
    • Category C – A reportable arrangement, being any arrangement identified and listed by the ATO as high-risk.

    The company and its public officer will need to be able to demonstrate that they have a reasonable basis for the disclosures they make in the RTP schedule.

    Even if no RTPs are identified, the RTP schedule still needs to be lodged disclosing this “nil” position.

    In addition to the 26 Category C arrangements that public companies and foreign owned companies are required to consider, private companies will also be required to consider four additional arrangements:

    • Division 7A focused arrangements, where loans are made to shareholders from subsidiary companies
    • CGT focused arrangements, where assets are transferred to a unit trust prior to disposal to a third party
    • Trustee shareholder focused arrangements including change of trustee and trust splitting; and
    • Foreign income tax offset arrangements where a credit is claimed in respect of tax paid on a foreign income or capital gain.

    These disclosures reflect the four key tax risk areas identified by the ATO for private groups:

    • Division 7A (shareholder loans)
    • Business sales
    • Trusts; and
    • International transactions.

    Additionally, there are a range of other risk areas that apply to both public and private groups. Key among these is transfer pricing. If a taxpayer does not have contemporaneous transfer pricing documentation that meets the requirements of the Australian tax laws, this will need to be disclosed to the ATO in the RTP schedule.

    If you need to lodge a RTP or have concerns over potential tax risks in your business, please contact William Buck.



  • 22-Jul-2020 11:24 | Tracy Dawson (Administrator)

    As a Platinum Partner of WSBC, the Institute of Strategic Management (ISM) are offering all WSBC members a complimentary Business Strategy Session.

    Valuing your business and understanding the direction you want your business to take is more important now than ever before.

    Take some time OUT of your business to focus on the IN.

    What can we discuss?

    It's your business. Let's chat about what's important to you. We could consider:

    • Getting back to the basics of business planning
    • Understanding target profit/income planning
    • Setting ideal targets
    • A practical approach to building value of lead generation sources
    • Aligning resources, activity, sales campaigns to achieve target sale profits
    • Understanding growth model options
    • Link plan to the ideal business structure

    About ISM

    Here at ISM, we take the time to understand your business. ISM is a Registered Training Organisation who specialise in building business capabilities through consultation, planning and tailored training to help you achieve your business goals.

    We provide strategic planning, governance and leadership coaching to many organisations across an array of industries. We can also work with you in trying to obtain government funding where possible.


    WSBC Members can book their free consultation by:

    • Logging into the WSBC website. Once logged in, go to:
    • The Members Tab (far right on the menu bar) and click on the:
    • Accessing Your Member Benefits Page
    • Details for consultations are listed under the Get Support section

    If you have any log in enquiries, please contact WSBC Membership Manager Julie Falzon.

    If you are not yet a member, click here to view WSBC's Membership Packages or to join online. For membership enquiries please contact:

    Amanda Brisot  l  WSBC General Manager

    M: 0421 118 441

    E: abrisot@wsbc.org.au


  • 22-Jul-2020 08:38 | Tracy Dawson (Administrator)

    Featherdale Sydney Wildlife Park has been delighting animal lovers of all ages since it first officially opened its gates on 22 July 1972. Originally founded by Bruce and Margaret Kubbere on the site of Margaret’s family poultry farm, in its 48-year history Featherdale Sydney Wildlife Park has grown to proudly now care for the largest collection of Australian animals in the world, with over 2000 Australian native animals across 260 species.

    With a collection this large, Featherdale Sydney Wildlife Park is able to offer its guests incredible hands-on wildlife experiences, from hand-feeding wallabies and kangaroos, to the chance to pat a koala, and now even the opportunity to take a selfie with a Quokka or hand feed Australia’s smallest species of penguin, and much more!

    On Wednesday 22 July, Featherdale celebrates its 48th birthday, and like many of us this year, we have had to take a different approach to celebrating our special day. No cake or party this year for us, as we know we need to maintain sensible social distancing. So, to still share some birthday joy, we are holding a 5-DAY FLASH SALE on ANNUAL PASSES to celebrate and you save over 30%!

    (Sale runs from tomorrow Wednesday 22/7 until 11:59pm Sunday 26/7 - buy one for yourself or as a gift!)

    Annual Pass  Was  Now
    Adult $99 $69
    Child (3-15 years old) $40  $28 
    Concession  $80  $59 
    Family A (2 Adults + 2 Children) $195  $135 
    Family B (2 Adults + 1 Child) $175  $120 
    Family C (1 Adult + 2 Child) $99  $69 
    Family D (2 Adults + 3 Children) $195  $135 
    Family E (2 Adults + 4 Children) $195  $135 
    Family O (1 Adult + 1 Child) $99  $69 

    The Featherdale annual pass already offers great value with unlimited entry to Featherdale Sydney Wildlife Park AND our sister park Mogo Wildlife Park, and generous member benefits including:

    • No timed sessions
    • No pre-booking for annual pass members (or any guest)
    • 20% all purchases park-wide
    • 20% off encounter bookings at Featherdale Sydney and Mogo Wildlife Park
    • 20% off renewals
    • 20% off guest tickets each time you visit
    • Free Parking

    Visit www.featherdale.com.au/48th for more information and to grab yours!

    In appreciation of your support,

    Team Featherdale



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