Simeoni Newsletter Summer Edition 2013

16-Dec-2013

Inside this issue

- Paul's Introduction
- Paul's Fearless Predictions
- Self Managed Superannuation Fund Borrowing Structure
- Cooking with Candice

Paul's Introduction 

With the year steadily coming to a close, it does seem the older one gets the faster time goes. 
This year has seen some milestones at Simeoni including: our new team member Julie who is job sharing with Candice at our front desk, record year in turnover and a new array of services on offer just to name a few.

Christmas and New Year is the time to reflect back and give thanks for the great things in our lives, such as family, friends and achievements during the year. We are especially proud of some of the great achievements accomplished by our clients. We have clients who attained rapid growth and became leaders in their respective industries. To see them achieving their goals, gives us a huge sense of pride as we have been able to contribute in a small way.

We, at Simeoni, were also able to record another important milestone this year. We participated in a renowned survey by Business Fitness on the performance of accountancy firms from all over Australia. This survey included different categories from sole traders to large multi-partners firms. We are proud to announce that Simeoni ranked 2 out of over 800 firms. Thanks to a great staff and the best clients we always strive to improve our services, efficiencies and turnover. This recognition has confirmed that we always try our best to improve our clients' business and any family, friends and associates you refer to us.

With this summer edition it is also time to present my popular fearless predictions for next year. 2013 saw 6 out of 10 correct predictions, a big improvement from the previous year.

The team at Simeoni would like to wish our clients and associates a great Christmas and a prosperous New Year, enjoy our newsletter and we look forward to seeing you in 2014!

We are officially closing the office from 5:00pm Monday 23rd December 2013 and re-opening 9:00am Monday the 6th January 2014. If you have any urgent queries during this period, please email us on: simeonico@simeoni.com.au.

Merry Christmas!
Paul Simeoni

Paul's Fearless Predictions

With 6 out of 10 predictions in the 2013 year correct, I will take it as a successful outcome. 
Now for the 2014 predictions, I have Mr Sheened the crystal ball and am feeling more confident for the next year.

The results for the 2013 predictions are as follows

Total Score: 6/10

1)

The Australian unemployment rate will hit 6% 

 X

 5.8%

2)

GDP in Australia will not reach 3%

 V

 2.6%

3)

Liberal/National Party will win at least 90 seats in 2013 elections

 V

 Liberal National Party 90

4)

William and Kate will announce they will be expecting their first child 

 V

 Prince George

5)

UNSW Blues to finally win 2013 State of Origin series

 X

 Lost 2-1

6)

Socceroos will qualify for the 2014 Brazil World Cup

 V

 

7)

Australian Share Market Index to pass the 5800 during the year

 X

 5437 at its highest to date

8)

Cuban President Fidel Castro will pass away during the year 
 

 X

 Still alive

9) 

Manchester United to win the English Premier League 2013

 V

 20th Title – 2 more than Liverpool 

10)

A large motor vehicle manufacturer will announce a closure of one of its manufacturing plants in Australia 

 V

May 2013 Ford announced closure of manufacturing in Australia after 88 years

Paul's predictions for 2014 are...

1)

Brazil will win the 2014 World Cup Football.

2)

 Australian share market will finally reach 5800 mark.

3)

The NSW State Government will record its first actual budget surplus in over a decade.

4)

 Australia to win at least 1 gold medal in the 2014 winter Olympics.

5)

 Interest rates to increase by 25 to 50 basis points during the year.

6)

 Gay marriage will be legal in at least one of the states in Australia.

7) 

Brad Pitt and Angelina Jolie will separate during the year.

8)

 Prince Harry will announce his engagement during the year. 

9)

 Sydney Swans will win the AFL title in 2014.

10)

 Australia will win the medal tally at the 2014 Commonwealth Games.  

Self Managed Superannuation Fund Borrowing Structure

One of the most frequently asked questions this year is about Self Managed Super Funds (SMSF) and the ability to borrow to purchase property. 
It is imperative that anyone interested needs to understand the concept and the structure properly. One mistake in the setup or strategy can turn out to be a very expensive mistake. The ATO will be targeting this strategy in the next few years, knowing that if the structure isn’t correct there will be a significant revenue boost for them.
Below is a basic SMSF/ Bare trust borrowing arrangement. It also explains the relationships amongst the structures.

Typical limited recourse borrowing arrangement set-up

Corporate Trustees


  
Please note:

• Red arrows represent the legal processes that occur for the limited recourse borrowing arrangement to be implemented correctly.
• Black arrows represent the relationship between the two trust structures, the Fund Trustee, the Bare Trustee and the SMSF Members. 
• The SMSF & Bare Trust Deed cannot have the same trustee, however, they can have the same directors of different corporate trustees.
• The member or members of an SMSF can also perform the function of the Lender, and it is up to the Lender and SMSF Members to determine the loan security, and the frequency and structure of repayments. If a financial institution is the Lender and requires additional security over the amount borrowed then, professional advice should be obtained. 

This investment structure has been a proven successful method to increase wealth accumulation with the use of funds presented for retirement. If you are interested, please book an appointment to speak with Paul Simeoni  to discuss the structure that suits your needs. 

Cooking with Candice - Enjoy!

This is a healthy version of the classic cheesecake! It is easy to prepare & generous enough in size to share with a large group. Make sure buy good quality ricotta from a Deli (not from the supermarket – quality just not as good).

BAKED RICOTTA LEMON CHEESECAKE

INGREDIENTS:

  • 1 quantity of sweet shortcrust pastry
  • 700gm good-quality ricotta – well drained
  • ½ cup white unbleached spelt flour
  • Finely grated zest & juice of 2 lemons
  • 2 vanilla beans – split lengthwise, seeds scraped
  • 5 organic eggs
  • 1 cup refined castor sugar
  • Berries or fruit to decorate

METHOD:

Grease a 23cm spring-form cake tin with butter.
Roll out pastry to make a circle with a 23cm diameter; about 2 – 3 mm thick.
Press the pastry into the tin.
Roll out 2 x 4 cm wide strips to fit the inside sides of the tin and press into the tin.
Refrigerate until needed.

Pre-heat oven to 170 celcius.

To make the lemon cheese filling, place all of the remaining ingredients (except the fruit decoration) into a food processor and process until smooth.
Pour the filling into the pastry shell and bake in oven for 40 mins or until golden on top & firm.
Remove from the oven and allow to cool to room temperature.

To serve, garnish the cheesecake with fruit.

Contact us now to see how our accounting experts can help.



Share:

Please wait... loading