Morris Finance News

Important Accounting Dates for February

The latter half of February looks like it's going to be busy with quite a few key ATO lodgments due towards the end of the month.

21 Feb 2012

Activity statements
January 2012 monthly activity statements - final date for lodgment and payment.

28 Feb 2012

Superannuation
Superannuation guarantee charge statement - quarterly (if required contributions were not made by the due date) for quarter 2 2011-12 (1 October - 31 December) - final date for lodgment and payment.

The SGC is not tax deductible.

Activity statements
Quarter 2 (October - December 2011) activity statements - final date for lodgment and payment, including electronic lodgments.

GST
BAS P - Annual GST return or Annual GST information report - final date for lodgment and payment (if required) if you do not have an income tax return lodgment obligation.

PAYG instalments
Quarter 2 (October - December 2011) instalment notices (forms R and T) - final date for payment and, if varying the instalment amount, lodgment.

GST instalments
Quarter 2 (October - December 2011) instalment notices (forms S and T) - final date for payment and, if varying the instalment amount, lodgment.

Income tax
Income tax return lodgment and payment due date for self-preparing entities that were not due at an earlier date.

Income tax return lodgment and payment due date for medium to large business taxpayers and self-managed superannuation funds (taxable and non-taxable) that are new registrations.

Income tax return lodgment due date for medium to large business trusts that were non-taxable in the latest year lodged unless required earlier.

Income tax returns for new registrant trusts unless required earlier.

If you fail to lodge your 2011 return on time your income tax return for 2012 will be due by 31 October 2012.

Staff Profile

Fiona Trotter
New Business Specialist

It's been almost a year since Fiona joined the Morris Finance team, and the time has flown. As a New Business Specialist Fiona has plenty to keep her busy. She handles all new clients, assisting them with finding the best finance options. Fiona has extensive knowledge of the finance industry, recently completing an AML Certificate, and a course with Swann Insurance.

Her other qualification might surprise you – Fiona is a certified florist, and is passionate about flowers and gardening. She loves being outdoors and spending time with family, friends and her dog Elle.

As well as furthering her finance career, Fiona's other ambitions include traveling; with Canada and Europe first on the list. Until then, she's enjoying Geelong and is a big fan of the Cats.

2012 Changes for Australian Businesses

The start of a new year often also means the start of new laws and legislations. SMEs should be aware of some new laws and updates that came into effect at the start of 2012.

Consumer Law
New standardised laws across the country, so all consumers have the same rights regardless of location
Consumers have the right to repair, refund or replace any item that's faulty or not as described
Warranties must change to include the new law requirements
10 day cooling off period for all purchases over $500. During this period a company can supply the goods but is not allow to accept payment or begin providing a service

Tax & Superannuation
New tax changes will come into effect July 1, 2012 so you still have some time to prepare for them.
Incorporated company tax rate drops from 30% to 29%
Instant write-off threshold increased to $6,500
New $5000 write off for motor vehicles purchased after July 1, 2012

Occupational Health and Safety
These regulation changes took effect January 1, 2012 for NSW, QLD, ACT and NT. Other states are set to adopt the changes in the second half of 2012 and 2013.
Companies' obligations widen to include other people performing work for them, like contractors, labour hire, students and volunteers
WHS (Work Health & Safety) replaced OH&S for the current participating states as above
Harmonisation between laws in different states to remove overlap

Highlights from 2011

Each year, Morris Finance gives back to the community through local sponsorships and fundraising. And each year, we aim to contribute more than the last. Here's a look at a few of the highlights from last's year's lengthy list of community events:

Hot Chocolate Day: Morris Finance supported Hot Chocolate Day to raise funds for the Children's Ward upgrade at the Geelong Hospital. Not only did we fundraise, MFL also teamed up with local radio station Bay FM to spread awareness about the event. Some of our key staff were even interviewed on air. The event was a success with $19,000 raised for the hospital in just one day!

Geelong Gala: Morris Finance was a key sponsor and participant in the Geelong Gala Parade. Over 10,000 people attended to watch the parade throughout the streets of Geelong. This event also raised money for the Geelong Hospital Appeal.

Variety 4 Kids: Morris Finance participated in this heart-warming event, donating bicycles and helmets to underprivileged children. Some of the kids had never owned a bike and they were ecstatic when Max the Mascot helped them pick their new 'ride'.

Bethany Appeal: Morris Finance was one of the 60 Geelong businesses who set up a Christmas tree for the Bethany Appeal. Hundreds of people dropped off gifts at the tree which were distributed by Bethany Appeal volunteers to underprivileged families throughout Geelong and surrounding areas. Morris Finance also hosted the radio station in its very own office for two hours.

We are really excited to be participating in even more events this year. Check out what's coming up here.

Plant & Equipment � why now is a great time to buy.

The conditions for plant and equipment purchases have been gradually improving in recent years, with some significant rate reductions coming into effect in 2012. Morris Finance is now able to offer new and existing clients low rates for motor vehicle, plant and equipment finance subject to finance approval.

So why is it worth reviewing your plant and equipment needs? New equipment leads to operating efficiencies, greater output and turnover, which all result in increased profit margin. And with such low rates, it means you'll see a Return On Investment that much sooner. If you're thinking about it, have a chat to one of our business specialists who can work with you to put together a customised solution for whatever equipment you might need.

Full steam ahead for the new year.

The first month of 2012 has passed us by already, with only five more months until the end of this financial year. Here at Morris Finance, we've started the New Year going full steam ahead. Morris Finance staff are busy contacting our clients to advise them of the new, lowered rates.Following two interest rate drops and increased competition in the industry, businesses and individuals can take advantage of the current market conditions. Whether it's a new vehicle, equipment upgrades or machinery, we're happy to show you how the new rates will make a difference to your purchase or investment. Just ask!

Morris Finance key representatives will also have plenty of opportunities to keep clients informed at many exciting community and networking events coming up in the new year.
You'll see our new mascot Max gracing the streets of Geelong, attending charity events, community fundraisers or just posing for the cameras.

We hope you had a great holiday, although it seems like a distant memory now! And we look forward to working with you and helping you make the most of 2012.

Financing your startup business

What's standing between you and starting your own business? If it's a lack of money, this can be remedied with a number of reasonable startup capital options available to aspiring entrepreneurs.

The key is planning- your financing strategy must make sense to both you and your prospective lender. Here are six steps towards building a sound financial foundation for your startup.

Identify your needs

Estimate what you will need to launch and sustain your business. This includes equipment and supplies, inventory, office or manufacturing space, franchise fee, and so on.

You should then consider what portion you can reasonably provide from your own resources, for example savings or contributions from family or friends.

Be careful in identifying your needs as you don't want to over or underestimate your them, nor do you want to endanger your family's financial security and your family relationships.

Look at the options

Commercial banks are the most visible lenders to small businesses, offering a range of conventional loans. You can also look to venture capital firms, commercial finance companies, angel investors, and so on.

Be sure to learn as much as you can about the evaluation criteria and payback requirements for each. You should also explore the range of Federal government or state grants there are available for your type of business.

Build your case

Most lenders require the following:

Business plan
Resume detailing your education and practical business experience
Credit history with references
Specific loan documents
Develop your business plan with sections describing the nature and type of your business, available resources and how they will be used to meet specific goals, timelines, financial objectives, analyses of your competition, and how your business will fit in the marketplace.

Fill in the blanks

Lenders may also request cash flow projections that illustrate both the viability of your startup and your ability to repay the loan. Remember that the data plan needs to be realistic and supported by facts to validate your estimates and projections. Don't cut corners on research.

Practice your pitch

Every request for startup financing will involve some sort of presentation. Even if you are comfortable in these situations, organise your thoughts and practice with people who will provide objective feedback. Fielding any and all types of questions ahead of time will build your confidence and prepare you for any issue that may arise.

Ask questions

Talk to your potential lenders about their processes and loan expectations. Your local small business hub and business support network can also have a wealth of resources and experts to guide you through the steps of startup financing.

If you have any questions on the above or would like to apply for some funding for your business please give us a call on 1300 4 Morris or 03 5223 3453 during office hours.

Festival of Sails

It’s on again, Morris Finance Ltd has signed on again as Class Sponsor for the 2011 Festival of Sails week. The event commences in Geelong, Victoria at the Royal Geelong Yacht Club on Australia day.

The Festival of Sail week is Australia's largest sailing event, first being held in 1844 and officially established in 1859. It is also one of the nation's oldest sporting events. Officials are expecting over 320 yachts, 3500 competitors and over 100,000 visitors from Australia and abroad for the four day event.

The partnership includes the naming rights of the Sydney 38 One Design category and will be known as the “Morris Finance Sydney 38 One Design Class Series.”

The Festival of Sails week is the ‘Melbourne Cup’ of the sailing world with seriously fast racing, a gala-like atmosphere and an abundance of waterfront activities and entertainment. It is a ‘must do’ event and the place to be in January.

The event is also close-to-heart for all at Morris Finance, with company CEO Ian Murray being the Chairman of the event as is scheduled to compete in the Morris Finance Sydney 38 One Design Class Series aboard his yacht MFL Cinquante. After winning the event in previous years Ian is looking for another title to add to his silverware.

If you would like to come aboard and meet the crew please do so on any of the four days and you may even get a chance to experience what it is like to sail one of these racing yachts.

The first Race on the calendar for the team is the traditional Melbourne to Geelong passage race on Thursday the 26th of January.

For further information on the event you can visit www.festivalofsails.com.au

We hope to see you there.

Marketing Trends for 2012

Telstra reports that 48% of Australians now carry smartphones. The shift to mobile marketing and online reputation management require businesses modify their content accordingly. It’s no longer just access to email, messaging calendars and websites. We will see more location based services, mobile gaming, applications and event based marketing innovations in 2012.

In 2011 companies began to take social marketing seriously because we saw it as a marketing tool. This year we will begin to see more companies integrate social media into their overall marketing plan. Last year social media was used primarily for customer service, brand engagement and management. This year it will be used to collect customer data and enable better targeted marketing. Statistics show that large and small companies are shifting budget dollars to social media and other digital marketing initiatives and away from traditional advertising like print and radio.

The strongest message is still the same from last year; customers want to know they matter to you and your staff. They evaluate now more than ever how they are treated and whether or not your business cares about their satisfaction. If you give the best after-purchase customer care, you will find that you will create consumers that are loyal to you, regardless of whether or not you have the least expensive price.

Case Study: Andrew Cook's Transport

Case study copy here...

MFL Sports Ambassador update - Lee Troop

Congratulations to MFL Sports Ambassador Lee Troop for a successful run in the Houston Half Marathon. Lee came 1st place for his division and 8th place for the men's half marathon. This is a fantastic result leading up to the marathon in Japan on Sunday 4th March as this will be Lee's qualifying attempt for the Olympics.

We look forward to following Lee and his progress on Sunday 4th March in Japan.

MFL Sports Ambassador update - Lee Troop

Morris Finance Ltd Sports Ambassador Lee Troop will be participating in the Houston Half Marathon on the 15th January 2012, marking the 40th anniversary of the race. Over 11,000 people participate in the half marathon every year, and it is known as a fast and flat race. This is in preparation for the upcoming marathon in Japan on Sunday 4th March 2012 which will be Lee's big opportunity to qualify for the 2012 London Olympics Games.

“I am looking forward to the weekend with not only racing personally but 3 US athletes that I coach are racing the marathon to gain selection for the US Olympic team. Thank you to Morris Finance and their staff for their support in my quest to make a 4th Olympics.” Lee said

We wish Lee the best of luck over the coming months.

Taking a hard look at 2011 and the outlook for 2012.

The New Year is often a time of reflection for businesses and individuals alike. Looking back at 2011 may prove to be a tough experience for many Australian businesses. As if symbolise the hard year, Australian shares ended the last day of 2011 with a 15% loss – about $180 billion in value.

Record lows

2011 was a tough year for most industries with financials, energy and materials stocks experiencing the biggest losses. To put into perspective just how poor 2010-2011 shares have performed, these years mark the first back-to-back losses since the benchmark was established. The first back-to-back loss benchmark was in 1981-1982 at the time of the recession.

Retail not the worst performer

Surprisingly, the retail sector with all it's public agony, was not the worst performing industry. That's not to say retailers got off lightly. The sector declined almost 22% as consumers opted to save and when they did spend, more bought online. Some 'lowlights' of the year were Billabong and Harvey Norman, dropping in value by 78% and 38% respectively. And while official Christmas sales results have yet to be publicised, retailers have been warned not to get their hopes up.

So what sector fared worse than retail?

With an astonishing 25.5% drop in value, the materials sector had the worst year as commodity prices reduced over the course of 2011. The hope for next year is that China will halt, or at least decelerate growth, easing conditions for materials and mining companies.

Europe doubts overshadow positive signs from US

It seems unlikely that we'll see much confidence growth until there is a resolution with the European debt crisis. Even positive numbers from Wall Street weren't enough to keep the global markets form closing with a loss. As Burell Stockbroking Adviser Jamie Elgar aptly describes, “We seem to be disconnected from Wall Street, with everyone looking to what is happening in Europe.”

The fear is that if the struggling European countries are unable to repay the debt, it may cause a freeze in credit markets around the world. Mr. Elgar went on to say that the focus on Europe would remain the primary influencing factor during the early months of 2012.

Important Accounting Dates for January

For most companies across Australia, business will resume today. While you get back into the swing of things, don't forget there are some key ATO dates to keep in mind for this month. Luckily, the first due date is not until the 15th of January, so you'll have time to get everything ready.

15 Jan 2012

Income tax
Due date for lodgment of income tax returns for companies, superannuation funds and trusts that were taxable medium to large business clients in the prior year and are not required to lodge earlier.

If you fail to lodge your 2011 return on time your income tax return for 2012 will be due by 31 October 2012.

21 Jan 2012

Activity statements
December 2011 monthly activity statements - final date for lodgment and payment.

Quarter 2 (October - December 2011) PAYG instalment activity statement for head companies of consolidated groups - final date for lodgment and payment.

28 Jan 2012

Superannuation
Last day for superannuation guarantee contributions to be made to a superannuation provider for quarter 2 2011-12 (1 October - 31 December).

If an employer does not make the minimum superannuation guarantee contributions for quarter 2 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly by 28 February 2012.

The SGC is not tax deductible.

31 Jan 2012

TFN report
Quarter 2 (October - December 2011) TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries - final date for lodgment.

New Year Trading Hours

Please be advised Morris Finance Ltd will be closed for business on Monday the 2nd of January 2012 for the annual New Years day public holiday, our offices will reopen as per normal on the Tuesday the 3rd of January at 8.30 am.

We wish you and your family a safe and enjoyable New Year.

Merry Christmas

The Management and Staff at Morris Finance Ltd would like to wish you and your family a Happy and Safe Christmas Day.

We extend our best wishes to you for the Holiday Season, and the upcoming New Year.

Morris Finance Ltd is excited about a bigger and brighter 2012, and we look forward to dealing with you in the coming year.

Merry Christmas.

Aussie SMEs see rise in sales

Many Australian SMEs will be relieved to hear that business sales all around the country are going up. The ANZ Small Business Sales Trends report, published a couple of weeks ago, revealed that businesses across the country saw a modest 2.8% sales rise during the month of October. Regional and rural businesses significantly outperformed metropolitan with 4.7% yoy growth versus just 1.8% respectively.

Similarly, trades and services sectors outperformed retail 4.2% to 0.6%. However, keep in mind the data was gathered in November after the first interest rate cut. Since then, the Reserve Bank of Australia has followed through with a second cut at the start of this month giving consumers a further confidence boost.

ANZ Small Business Manager Nick Reade commented “hopeful that consumer spending will make a comeback particularly as shoppers gear up for the Christmas trading period.”

Indeed, two consecutive rate drops and Christmas shopping should give the retail sector just the boost it needs to start off 2012 on a positive note. We look forward to bringing you updates as data is released showing the spending trends during the holiday season. Until then, we wish you all a safe and stress-free Christmas shopping season!

MFL supporting the Bethany Appeal

Morris Finance Ltd this year is participating in the BayFM Bethany Giving Tree Appeal from 12th to the 23rd December. The Appeal has been making kids smile at Christmas for over a decade.

You can put a smile on a local child's face by leaving a present under a tree, including the one we now have out the front. The MFL Christmas tree is one of over 60 others in the BayFM Bethany Giving Trees across our region.

No need to wrap the present, that way we can see what it is and who it would be appropriate for. If you would like to buy a present for the tree the gifts will be going to children from infant to primary school ages.

Your gift under a BayFM Bethany Giving Tree will spread the Christmas cheer to local children this Christmas.

As a part of the appeal we will be having an outdoor broadcast here in our reception area on Tuesday 20th December between 2 – 4pm.

MFL now on social media sites

For the past two years, at Morris Finance we haven't stopped improving the way we use digital communications. We are continuously enhancing the functionality of our website, and have come a long way with our blog! The natural next step for us has been embracing social media. You will now find us on Facebook, Twitter and YouTube.

Morris Finance Ltd

@MorrisFinance

MorrisFinance

Through these channels, we hope to bring you the latest news not only about Morris Finance, but about the Australian finance industry. While we grow these social media channels, we encourage you to jump online and say hello.

Morris Finance Ltd Christmas Closure

The Management and Staff at Morris Finance Ltd would like to advise that we will be closing for Public Holidays only during the Christmas period. These dates include: December 26-27th 2011 and January 2nd 2012.

The staff at Morris Finance Ltd would like to wish you all a safe and happy holiday season.

RBA cuts interest rate to 4.25%

The RBA has delivered an early Christmas present to mortgage holders by cutting rates today.

The Reserve Bank of Australia today decided to lower the cash rate to 4.25 percent from 4.5 percent at its monthly board meeting .

It's the second interest rate cut in as many months after the RBA lowered the cash rate on Melbourne Cup day in November this year.

Economists had been divided on whether rates would be cut for the second time this year.

It was indicated by the RBA that it still has concerns around the European economic situation and the prospects of a global slowdown hurting Australia and its export markets.

While it's good news for mortgage holders and borrowers, consumers should not expect the banks to pass on the full rate cut.

Important Accounting Dates for December

December is a busy month for all of us. Between Christmas shopping, celebrations and wrapping everything up before the holidays there are also some key ATO Lodgment dates to remember.

01 Dec 2011

Income tax
Income tax payment due date for companies and superannuation funds that were taxable medium to large business clients in the immediate prior year.

Income tax payment due date for companies and superannuation funds that were required to lodge by 31 October 2011.

Superannuation
Payment of income tax for superannuation funds where one or more prior-year income tax returns are outstanding as at 30 June 2011 (lodgment of return was due 31 October 2011).

21 Dec 2011

Activity statements
November 2011 monthly activity statements - final date for lodgment and payment.

MFL Sports Ambassador update - Nick Percat

Morris Finance Ltd Sports Ambassador Nick Percat has finished second on Saturday’s opening Fujitsu V8 Supercar race at the Sydney Telstra 500.
Percat qualified the #222 Coates Hire Commodore on the front row of the grid for Saturday’s 17-lap race, and maintained second position comfortably throughout the race, with his fastest lap at 01:29:7365.

“I really enjoy racing on this street circuit and I...’m pretty happy to finish second here today,” said Percat.

“Considering the tough couple of rounds we’ve had lately, scoring a second place finish is a great result for the team."

“It’s been a challenging season and I want nothing more than to finish the year off how we started it – standing on the top step of the podium.”

Percat again finished second on Sunday’s final Sydney Telstra 500, Sydney Olympic Park Street Race, with his fastest lap of 01:37:7047.

MFL Sports Ambassador update - Grant Suckling

Morris Finance Ltd Sports Ambassador Grant Suckling completed the last race of the Anaconda Adventure Series at Lorne yesterday. He was not only competing for a position but for a place in the series title. Grant completed an Ocean swim of 1.9km, Run of 400m, Ocean Paddle of 13km, Trail Run of 15km, Mountain Bike of 18km and a beach run of 1.5km, a total of 49.8km.

Grant stated yesterday “Finished 4th at Lorne Anaconda today, had a rough day on the water but pleased with the result given it was a pretty strong field. Thank god for the new bike, MTB leg was a hoot!”

Not only did Grant finish 4th on the day, he also took home third place in the 2011 series. Congratulations Grant on your persistence and dedication. Great result.

Keeping Your Staff Motivated

One thing that many businesses underestimate – especially new businesses that are experiencing growth – is the importance of keeping your workers happy. Staff motivation forms an integral part of any commercial business, and if it is overlooked it can have a marked impact on the success of your business.

Job Satisfaction

Motivation has been well researched and all studies show that enthusiastic, motivated employees are far more effective and productive in their job, take less time off, and are more likely to stay with the company for a prolonged length of time. This, in turn, is great for the company – and everyone gets to reap the rewards.

So, how do you keep your staff motivation at an optimal level? First of all, in these uncertain economic times, few things motivate people as much as a sense of security and respect. Even though this can be hard to guarantee, making sure that employees know that they are valued in their position, and that you’d like to ensure they stay in the company long term goes a long way to making staff feel comfortable, secure and respected.

Happy Staff are Productive Staff

It is important that staff do not feel taken for granted – let your team know when they are doing a good job. While money can sometimes be a motivating factor, there is extensive data suggesting that employees have a strong interest in being recognised for their achievements, and will be more productive if they feel their hard work is being acknowledged. On the flipside, the work of staff that never receive any praise will often start to deteriorate, which in turn will make your business suffer.

Try to offer a small and unexpected reward for your team once in a while. Even the odd drink or meal out can make a large difference and help bring your team together. A dinner out on the company if a team achieves a certain target is a good excuse for a work lunch or dinner to show that you appreciate their efforts, and the relatively small financial outlay of this will be far outweighed by the effect that happy staff have on your business.

Business Finance in Australia

To talk to the experts about how business financing can help your company expand, contact Morris Finance Ltd on 03 9999 5587.

Morris Finance Ltd
Level 2, 237 Ryrie Street
Geelong VIC 3220

Morris Finance Ltd at the Gala Day Parade

The 2011 Geelong Gala Day Parade made its way through the streets of Geelong thrilling thousands of both young and old as they supported the Geelong Hospital in what is one of the city’s most loved and traditional events. The heavy rain held off long enough for the colourful parade to weave its way down Moorabool Street in a huge celebration.

The Gala Day was attended by approximately 15,000 spectators, a great turn out considering the weather on the day, with the main event having to be cancelled at the end of the parade. It also raised much needed funds for the Geelong Hospital's Childrens Ward achieving over $30,000.00 in donations from the community and businesses involved.

Morris Finance Ltd staff and mascot Max all took part in the parade to give back to our local community, working alongside the Barwon Health Foundation. The staff and Max who made his second ever appearance had a great day enjoying the parade with the community.

MFL Sports Ambassador update - Nick Percat

In Morris Finance Ltd sports ambassador Nick Percat's first V8 Supercar race since winning the Bathurst 1000 in October, Percat has scored a podium finish during last weekend's Fujitsu V8 Supercar race at Sandown.

Starting from fifth on the grid, Percat pressured the frontrunners throughout the race and pulled off a bold last-lap move on David Russell to grab third place.

He also set the fastest lap of the race in the #222 Coates Hire Commodore and was the only driver in the 1 minute 11 second bracket.

“I got a good start and just focused on staying in touch with the leading pack,” said Percat.

“After a tough few events, I’m just happy to bring the car home in third and give the boys a well deserved result.”

So far it has been an outstanding weekend for the Morris Finance Ltd racer, who won the coveted 2011 SA Sports Star of the Year People’s Choice award.

“It’s a huge honour to win the award and to have so much support from my hometown.

“I want to thank everyone who took the time to vote for me!”

Morris Finance Ltd Cinquante breaks 150 year record

Morris Finance Ltd CEO and Cinquante Skipper Ian Murray broke a 150 year old record at the Royal Geelong Yacht Club on Saturday 12th November 2011.

MFL Cinquante created club history by being the first yacht in the 150 year history of the club to win four accolades on the Saturday Racing Alpha course held every Saturday during the Sailing season.

This includes:

• First Yacht across the line
• First Yacht under International Racing Certificate handicap division
• First Yacht under Australian Measuring System Handicap division
• First Yacht under performance handicap

Approximately 20 yachts raced on Saturday with winds 15/20 knots, windward leeward course.

Congratulations to Ian Murray and his eight crew members.

You can see MFL this Saturday in the Geelong Gala Day Parade

The Geelong Gala Day Parade and Family Fun Day will be held on Saturday 19th November 2011. Gala Day is all about the community raising money for the Geelong Hospital Children’s Ward.

The Parade, which is being held for the 95th time, starts at 10:45am at Eastern Park, continues along Malop Street and finishes in Brougham Street. There will be family entertainment and activities at Steampacket Gardens, Geelong Waterfront from 12 noon to 5.00pm

Various community groups will be involved in the Gala Day Parade including the team at Morris Finance Ltd. Be sure to come and see our staff having a great time in such an important community event.

MFL will be launching its Mascot 'Max' at the Gala Day Parade on Saturday. You can meet Max at the parade and also down at Steampacket Gardens near the Carousel.

Important Accounting Dates for November

The next few months are pretty manageable in terms of key ATO lodgment dates. There are just 3 to remember in November:

11 Nov 2011

Activity statements

Quarter 1 (July - September 2011) activity statements - final date for electronic lodgment and payment.

21 Nov 2011

Activity statements

October 2011 monthly activity statements - final date for lodgment and payment.

28 Nov 2011

Superannuation

Superannuation guarantee charge statement - quarterly (if required contributions were not made by the due date) for quarter 1 2011-12 (1 July - 30 September) - final date for lodgment and payment.

The SGC is not tax deductible.

Update from MFL Sports Ambassador - Grant Suckling

The Anaconda Adventure Race in Augusta, Western Australia is the World’s Biggest Adventure Race by participation; with more than 1700 competitors trail running, ocean swimming, kayaking and mountain biking their way over the 50 kilometre off road course on 6th November 2011.

Morris Finance Ltd Sports Ambassador Grant Suckling had a slow start during the coastal run and swim legs before winding up and regaining places through the paddle and mountain bike courses. Grant finished fifth overall in the men’s at a time of 4:11:03.

Grant was also participating in the Australian team for the Rivalry Round in Augusta, WA. However, the Kiwis conquered the reigning Australian team by 30 minutes and 17 seconds, the Trans Tasman winner decided by the cumulative times of each of the three individual racers representing their countries.

We will see more from Grant in early December when he competes in the final of the Anaconda Adventure Racing series in Lorne, Victoria.

Grant has also been training and working with BBC Television presenter and renowned global adventurer, Ben Fogle. They both entered adventure racing in their 30’s, sharing many of the same perspectives and outlooks.

Update from MFL Sports Ambassador - Nick Percat

Morris Finance Ltd sports ambassador and BATHURST 1000 winner Nick Percat has made history by becoming the first driver to win a race on India's brand new Buddh International Circuit near New Delhi.

Driving for Walkinshaw Racing, Nick Percat was the only Australian in the 20-car field for the weekend's Formula MRF series races- a support category to India's inaugural Formula One Grand Prix.

The 2009 Australian Formula Ford champion claimed pole position for both races and finished 6.2 seconds ahead of British drivers Jordan King and Alice Powell in Race 1, becoming the first person to win a race on the new 5.14km Indian circuit.

"The circuit was one of the best I've ever raced on," said Percat.

"Hearing the Australian national anthem being played for the first time on the podium was pretty special. The Indian crowd really got behind it and recognised what we'd achieved which was great to see."

Nick Percat again started on pole for Race 2 but was taken out of contention on the first lap when King made contact with the #4 Coates Hire sponsored car and damaged the rear suspension.

"It was frustrating because we'd had great pace all weekend, and we were taken out of the race by someone else's reckless driving." said Percat.

"Overall it was a great experience and fun to get back in an open wheeler, but now I'm focused on getting a result at the next round of the Fujitsu Series in a little over two weeks' time."

Percat will be back behind the wheel of the #222 Coates Hire Commodore at the Fujitsu V8 Supercar Series round at Melbourne's Sandown Raceway from 18-20th November 2011.

What the interest rate cut means for you

On Tuesday, the Reserve bank cut interest rate for the first time in over two and a half years, down 25 basis points to 4.5%. This is the first time the rate has moved since one year ago, when it was raised to 4.75%.

So what will this mean for you and for the broader economy?

Families
Westpac, Commonwealth and ANZ have all passed on the full 25 basis point rate cut to consumers. NAB was widely criticised after choosing to pass on only 20 basis points, although the bank’s spokesperson reiterated that NAB still has the lowest standard variable home loan rate of any of the major banks.

What this translates to for consumers is around $50 off monthly payments on a $300,000 mortgage. Some home owners will save up to $5000 on the same mortgage amount, when compared to the peak rates of 9.6% just a few years ago.

Businesses
Many Australian businesses are having a tough time due to challenging domestic cost pressures, low consumer confidence and higher than average operating costs. The reduction in rates will relieve some of the pressure on business owners who are having to borrow to keep their business alive. It will also mean that home loans and commercial loans are that little bit cheaper each month.

Economists also predict that with lowered rates, consumer confidence will go up. Combined with that little bit of extra disposable income from reduced loan repayments, retailers are hopeful that this will translate into increased spending during the critical Christmas period.

Economy
The impact of the RBA rate cut announcement on the Aussie dollar was almost instant. The dollar dropped in advance of the decision, as the rate reduction was widely predicted by economists. It’s currently trading at just over $1.04 USD, a few cents lower than last week. This brings a huge relief to Australian exporters who are facing tough price competition in import-competing industries.

It is likely that our currency will remain relatively tame at least for the coming two or three months. Currently, there is no consensus among economists as to when the next interest rate move will be, or what direction it will move in.

Should you have any enquiries regarding how this recent change in interest rates will affect any of your accounts, please don’t hesitate to get in touch.

Morris Finance Ltd Hot Lap Competition winners announced

Congratulations to Graham White and Michael Barratt who have won our latest client competition for a Hot Lap in a Toll Holden Racing Team V8 Supercar at the Phillip Island Ride Day on 14th December 2011.

Graham and Michael's name were drawn from a large number of entries who settled new finance facilities with us between September and October 2011.

We are sure Graham and Michael will have a great day, please stay tuned for our next competition that we will be launching soon on www.morrisfinance.com.au.

RBA cuts cash rate to 4.5 %

The Reserve Bank of Australia today slashed rates by 25 basis points in a bid to boost consumer spending and turn around the depressed property market.

The pressure is on the big banks to pass on the rate cut in full through lower lending rates.

Prime Minister Julia Gillard warned the banks that they had "no excuse'' if they failed to pass on a likely interest rate cut to customers.

A fall in interest rates to 4.5 per cent has given homeowners a $600 reduction on annual mortgage repayments for a $300,000 loan.

New home sales have declined in September, with detached house sales falling to their lowest point in 11 years, according to the Housing Industry Association.

The Reserve Bank last cut interest rates in April 2009. Following a steady climb in 2010, interest rates have stayed on hold since last November.

The last time the Reserve Bank stayed put on Melbourne Cup day was in 2005, midway through the cash rate's year-long stint at 5.5 percent.

Melbourne Cup Trading Hours

It's that time of year again when the offices of MFL will be closed for public holidays.

Please be advised our office will be closed tomorrow the 1st of November 2011 for the running of the Melbourne Cup.

Our office will re-open at 8.30am on Wednesday the 2nd of November 2011.

The Management and Staff would like to wish all our customers, suppliers and their families a Safe and Enjoyable day.

For further information on the Melbourne cup please visit http://www.flemington.com.au/at-flemington/racing-detail.asp?vrc_event_id=82

Success Stories from our Sports Stars

The Morris Finance Ltd Sporting Ambassadors are starting to fire up! Over the past couple of months we
have had tremendous success stories from each one of our sponsored athletes and teams.

Here are the highlights of their latest accomplishments:

	Lee Troop Just over a month ago Lee won the Sydney half marathon with a time of 1 hour 07 minutes. This marks his 10th Australian Title.
	Nick Percat Earlier this month, 23 year-old Nick became the first rookie to win the Bathurst 1000 in over 30 years. Nick and co-driver Garth Tander held on to the lead, winning but just .29 seconds – the closest finishing margin in Bathurst history.
	Grant Suckling After a season full of ups and downs, as the defending champion Grant continues to lead the Anaconda Adventure Race Series.
	Billie Smedts Having spent all season recovering from surgery Billie is looking forward to getting back in the game. He's been given Number 2 from Geelong Cats!
	Geelong Cats Perhaps the biggest success of all has been the Geelong Cats win over Collingwood. This marks their third premiership in 5 years.

Morris Finance Ltd is extremely proud to sponsor athletes of such outstanding calibre. We look forward to
continue bringing you stories of their training and success through our blogs and newsletters.

Seven days left to be in the draw to Win a Hot Lap in a Toll Holden Racing Team V8 Supercar

Only seven days left to win an experience of a lifetime.

Settle a new finance facility with Morris Finance Ltd during September and October 2011 and go into the draw to win a Hot Lap in a Toll Holden Racing Team V8 Supercar at the Phillip Island Ride Day on 14th December 2011.

Don't miss out on an experience never to forget.

For further information please contact your Morris Finance Ltd representative today on 03 5223 3453.

Terms and Conditions of the Hot Lap Competition in September / October 2011

• To enter into the draw to win you must settle a finance facility with Morris Finance Ltd between 9am September 1st 2011 and 5pm October 31st 2011. This means that they must be the owner of a lease, hire purchase or novated lease that settles in the above mentioned months.

• Prize will be drawn on Wednesday 2nd November 2011 at 10am at the Morris Finance Ltd office located at Level 2, 237 Ryrie St, Geelong Vic, 3220.

• The promoter is Morris Finance Ltd, Level 2, 237 Ryrie Street Geelong Vic 3220.

• The prize voucher is to be collected at Morris Finance Ltd at Level 2, 237 Ryrie St Geelong Vic 3220 by 5pm 31st November 2011.

• Entrants must be over 18 years old.

• Physical restrictions:

• Height : 200.66 cm or 6.7”

• Weight: 135kg

• Must adhere to these restrictions to be able to participate.

• Must have a valid driver’s license.

• This prize is not redeemable and cannot be passed on to anyone but the prize winner.

• Must be available on the race day – December 14th 2011.

• Participate at own risk - Morris Finance is not responsible if injured or hurt.

• Closed shoes are to be worn on the day for safety reasons.

• The value of the prize is $1,350.00.

• The winner will be contacted by telephone on the 2nd November 2011

Update from MFL Sports Ambassador - Grant Suckling

Morris Finance Ltd Sports Ambassador Grant Suckling is sitting in 1st place in the Anaconda Adventure Race National Series after just two races. Having finished 2nd place at Race #1 at Forster and 5th at Race #2 at the Gold Coast he's the only top flight athlete to have done 2 races. The series second place currently sits with Kiwi world champion multisport athlete, Richard Ussher who won race #1 at Forster giving him a crucial 10 points.

Suckling's fifth place and the absence of Ussher on the Gold Coast course was enough for him to snatch the lead and it is looking positive for Grant to retain the number one ranking for a second year running.

Sucking’s next race is in Augusta, Western Australia on Sunday 6th November 2011. The race consists of; Coastal Run, 13.5km; GCS Ocean Swim, 1.9km; Inlet and Ocean Paddle, 13km; Mountain Bike, 32km; and a Team Run of 2.5km – a staggering total of 62.9km.

We're talking true wilderness and untouched landscapes in and around Augusta in the south west of Western Australia. There's the dramatic run around rocky headlands as waves crash aside you; there's the swim over tranquil ocean reefs alive with (friendly) fish; the paddle across Hardy Inlet and out into the (protected parts) of the Southern Ocean; and the mountain bike sweeping through inland forests along single tracks that could be certified as a fun park.

There really is nothing like it. It's the Wild West in every adventurous sense.

Looking at Australia's Finance Industry performance.

Over the last few years there has been a lot of discussion and speculation about the economy, largely due to the GFC and more recently the European debt crisis. However, 'economy' is a broad term encompassing nearly every industry in Australia. Recently, IBIS World released a report that zeroes in specifically on the finance industry and how it's held up over the past years. Here is a snapshot of how the industry has performed and an outlook for the future.

Early 2000s
The share market is booming amidst a growing economy. There is a lot of activity in the finance sector fueled by easy access to capital and high consumer and investor confidence.

2007-08
The Global Financial Crisis reaches Australia. Revenue drops around 18% in 2008 and continues falling into 2009. Nonetheless, this fall in revenue is considered minor when compared to struggling finance sectors in US and Europe.

2009-10
The finance sector, along with the rest of the economy hits a low in March '09. Then, things start to look up, but not for long. In 2009, the European debt problems start to surface, damaging the still-fragile market confidence. However, after a few months of treading cautiously, the industry starts moving forward again with most finance sectors achieving revenue growth by 2010.

Today
With over one trillion dollars in managed funds, the Australian financial services industry is the fourth largest in the world. The industry's revenue returned to growth at around 3.8% in 2010-11 reaching a total of $179.8 billion.

Tomorrow
Although the outlook is positive, recovery is expected to be slow and steady; a prediction that echoes across most industries in Australia. The finance sector will begin growing more steadily, and is expected to reach 6.9% by the end of next year. Although the forecast has improved, growth won't match that achieved in the time before the GFC. This is due in part to new stricter regulations and levels of leveraging.

MFL Sports Ambassador Nick Percat wins Bathurst 1000

Morris Finance Ltd Sports Ambassador Nick Percat competed in his second V8 Supercar race, to produce the performance of his life alongside co-driver Garth Tander to win the Bathurst 1000 at Mount Panorama yesterday.
The victory made Percat the first driver in more than 30 years to win "The Great Race" on his Bathurst 1000 debut.

Hours after his victory, Percat’s parent’s, told reporters he was, "on top of the world".

"I can't explain how good it feels. I just want to thank HRT (Holden Racing Team) and Garth (Tander)," he said.

"I put my head down and drove as hard as I could. I've never driven anything so hard."

"Every lap, you are a millimetre off the wall and that close to having a serious crash if you go fractionally off-line. It's a big relief to get to the end."

Percat, who lives in Melbourne but still calls Adelaide home, has raced for 14 years in categories including Aussie Racing Cars, Formula Ford and Formula 3. He made his V8 Supercar debut at Phillip Island last month.
"I've dreamt of it (racing at Bathurst) since I can remember," he said.

"I came up to Bathurst when I was quite young and watched (Peter) Brock going around."

"It's just an amazing feeling to be on the list of winners."

His father, Marc, said it would take some time for the achievement to set in.

"To win at his first go at Bathurst ... it was amazing," he said.

"So many guys are trying to win at the mountain."

"Now he can always say he has won at Bathurst."

Morris Finance Ltd congratulates Nick Percat and the Holden Racing Team on an amazing win at Bathurst 1000.

RBA leaves cash rate at 4.75%

AUSTRALIA'S mortgage belt has been spared more hip-pocket pain with the Reserve Bank this afternoon leaving the interest rate at 4.75 per cent.

The central bank last raised the rate in November 2010, from 4.5 per cent.

The RBA board had been widely tipped to keep rates on hold at today's monthly meeting but economists are predicting retailers and struggling families could see some relief before the end of the year.

RBA governor Glenn Stevens said conditions in global financial markets continued to be "very unsettled, with uncertainty increasing about both the prospects for resolution of the sovereign debt and banking problems in Europe, and the outlook for global economic growth".

However, economic activity in China and Asia was continuing to expand, he said.

Mr Stevens said underlying inflation had stopped falling and began to increase earlier this year.

"The board has been concerned about the prospect of a further pick-up over the period ahead, but over recent months has been weighing the question of whether a period of weaker than expected conditions would contain that pick-up in inflation," Mr Stevens said in a statement accompanying the decision today.

"Recently revised data show a pick-up to date in the underlying pace of price rises that was less sharp than initially indicated.

"Taking into account all the recent information, the path for inflation may now be more consistent with the two to three per cent target in 2012 and 2013, abstracting from the impact of the carbon pricing scheme."

MFL at the Elmore Field Days

Morris Finance Ltd are represented this year at the Elmore Field Days in central Victoria on Tuesday 4th, Wednesday 5th and Thursday 6th October 2011. We are situated near Public Entrance Gate 11, be sure to stop by and have a chat to Abby Davis, Fiona Trotter and Yoland Marshall and they will be able to answer any of your enquiries.

The days are all about business engaging with each other, the first Elmore Field Days were held in October 1964 after a voluntary Committee organised the first comprehensive display of farming equipment and services alongside the Campaspe River.

Set exactly halfway between Bendigo and Echuca at the point where the Midland Highway becomes the Northern Highway.

Elmore might be small, but come October more than 40,000 visitors flood into the town for the annual 'Field Days' which is Victoria’s oldest and largest agricultural exposition.

For more information please visit http://www.elmorefielddays.com.au/index.asp .

Important Accounting Dates for October

October is looking like a busy month already. Not only are individual tax returns due at the end of the month, but there are quite a few other lodgment dates for businesses to remember.

21 Oct 2011

Activity statements
September 2011 monthly activity statements - final date for lodgment and payment.

PAYG instalments
Annual PAYG instalment notice - final date for payment and, if using the rate method or varying the instalment amount, final date for lodgment.

If you have already lodged your annual income tax return, you should not vary your annual instalment.

Activity statements
Quarter 1 (July - September 2011) PAYG instalment activity statement for head companies of consolidated groups - final date for lodgment and payment.

28 Oct 2011

Activity statements
Quarter 1 (July - September 2011) activity statements - final date for lodgment and payment.

GST instalments
Final date for electing to pay GST by instalments (that is, option 3) for June balancers if another reporting option was previously used.

Final date for opting out of option 3 for the current financial year (2011-12).

GST
Final date for eligible quarterly GST reporters to elect to report GST annually.

Quarter 1 (July - September 2011) instalment notices (forms S and T) - final date for payment and, if varying instalment amount, lodgment.

PAYG instalments
Final date for eligible instalment reporters to elect to report annually for June balancers.

Final date for notifying your quarterly PAYG instalment reporting and payment choice for the 2011 income year for June balancers.

Quarter 1 (July - September 2011) instalment notices (forms R and T) - final date for payment and, if varying the instalment
amount, lodgment.

Superannuation
Superannuation guarantee contributions for quarter 1 2011-12 (1 July - 30 September) to be made to the fund by this date.
If an employer does not make the minimum superannuation guarantee contributions for quarter 1 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly by 28 November 2011.
The SGC is not tax deductible.

Activity statements
Annual activity statement 2010-11 - TFN withholding for closely held trusts where a trustee withheld amounts from payments to beneficiaries - final date for lodgment and payment.

31 Oct 2011

Superannuation
DASP annual report - final date for lodgment.
Member contributions statement - paper or electronic - only applicable for APRA funds.

Lost members statement for the period 1 January 2011 to 30 June 2011.

PAYG withholding
PAYG withholding where ABN not quoted - annual report - final date for lodgment.
Use this to report amounts withheld because another entity did not quote their ABN.
These amounts are reported at label W4 of the activity statement.

PAYG withholding from interest, dividends and royalties paid to non-residents - annual report - final date for lodgment.

Payments of dividends, interest and royalties to non-residents are subject to withholding.
These amounts are reported at label W3 of the activity statement.
PAYG withholding annual report - payments to foreign residents - final date for lodgment.

Payments made to foreign residents for entertainment or sports activities, construction and related activities and arranging casino gaming junket activities are subject to withholding.
These amounts are reported at label W3 of the activity statement.

GST
BAS P - Annual GST return or Annual GST information report - lodgment and payment (if required) is due when the income tax return is due.
If you use a tax agent, different lodgment and payment dates may apply.

Income tax
Individual, partnership and trust income tax returns - final date for lodgment unless an approved SAP has been granted.

Trusts that were taxable medium to large business clients in the latest year lodged and have no prior year returns outstanding as at 30 June 2011 can lodge by 15 January 2012, unless required to lodge earlier.

Trusts that were non-taxable medium to large business clients in the latest year lodged and have no prior year returns outstanding as at 30 June 2011 can lodge by 28 February 2012, unless required to lodge earlier.

New registrant trusts can lodge by 28 February 2012 unless required earlier.

Income tax
Income tax return lodgment due date for all June balancing company and superannuation funds where one or more prior-year returns were outstanding, as at 30 June 2011.

Annual investment income reporting
Annual investment income report (AIIR) - final date for lodgment for all investment bodies.

TFN report
Quarter 1 (July - September 2011) TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries - final date for lodgment.

MFL CEO appointed Chairman of the Festival of Sails

Morris Finance Ltd CEO Ian Murray has been appointed Chairman of the Festival of Sails Comittee for 2012.

The Festival of Sails attracts over 450 yachts and 4500 competitors from around the world to compete in Melbourne and Geelong over the Australia Day holiday period. It is a fabulous event for sailors, yachting enthusiasts and festival goers alike. First held in 1844, the Festival of Sails Regatta is one of the nation's oldest sporting events, and has evolved over many years culminating in its current position as the foremost competitive keelboat regatta in Australia. In the past years the event has be known as Skandia race week and Audi Race week.

Ian has been an active member of sailing and the RGYC since 1991, holding prestigious positions in the club including Board Member, Treasurer and has recently been appointed Vice Commodore.

With over 25 years of sailing, the sport has become a top priority for Ian. He has competed in the Sydney 38 Division one class for the past five festivals, winning the event twice and coming second and third on two other occasions. “I have a love for the sport and now put a lot of my time into the RGYC after winning the Sydney 38 division in the Sydney to Hobart in 2009” Ian Murray said. “It’s all about developing the young sailors these days and anything we can do to assist their development is a benefit to the sport”.

Ian is very excited about his recent appointment and the challenges ahead of him. In view of the current Global Financial situation it will be hard to retain and attract new sponsorship however this will ensure the Regatta is bigger and better in 2012, securing it as the Largest Sailing Regatta in the Southern Hemisphere.

For more information on the festival of sails visit http://www.victoriaweek.com.au

Win a Hot Lap in a Toll Holden Racing Team V8 Supercar

Don't miss out on being in the draw for your
chance to win an experience of a lifetime.

Settle a new finance facility with Morris Finance Ltd during September and October 2011 and go into the draw to win a Hot Lap in a Toll Holden Racing Team V8 Supercar at the Phillip Island Ride Day on 14th December 2011.

Don't miss out on an experience never to forget.

For further information please contact your Morris Finance Ltd representative today on 03 5223 3453.

Terms and Conditions of the Hot Lap Competition in September / October 2011

• To enter into the draw to win you must settle a finance facility with Morris Finance Ltd between 9am September 1st 2011 and 5pm October 31st 2011. This means that they must be the owner of a lease, hire purchase or novated lease that settles in the above mentioned months.

• Prize will be drawn on Wednesday 2nd November 2011 at 10am at the Morris Finance Ltd office located at Level 2, 237 Ryrie St, Geelong Vic, 3220.

• The promoter is Morris Finance Ltd, Level 2, 237 Ryrie Street Geelong Vic 3220.

• The prize voucher is to be collected at Morris Finance Ltd at Level 2, 237 Ryrie St Geelong Vic 3220 by 5pm 31st November 2011.

• Entrants must be over 18 years old.

• Physical restrictions:

• Height : 200.66 cm or 6.7”

• Weight: 135kg

• Must adhere to these restrictions to be able to participate.

• Must have a valid driver’s license.

• This prize is not redeemable and cannot be passed on to anyone but the prize winner.

• Must be available on the race day – December 14th 2011.

• Participate at own risk - Morris Finance is not responsible if injured or hurt.

• Closed shoes are to be worn on the day for safety reasons.

• The value of the prize is $1,350.00.

• The winner will be contacted by telephone on the 2nd November 2011

Update from MFL Sports Ambassador - Nick Percat

Morris Finance Ltd Sports Ambassador Nick Percat's Stunning Debut with Toll Holden Racing Team at Phillip Island on Sunday 18th September 2011.

It was an up and down day for the Toll Holden Racing Team’s Garth Tander and Nick Percat in the first endurance race of the season at the Phillip Island Grand Prix circuit.

After qualifying the #2 Toll HRT Commodore on the front row of the grid for today’s 500km race, things were looking promising. Percat was given the task of starting the car, however he came across an issue with the starter motor while lining up on the grid for the start of the race.

With the race start abandoned while Percat sat stationary on the grid, the Toll HRT crew ran to his rescue and to find the problem. Getting the car started again, Percat was then forced to start from pit lane.

With a daunting task ahead of him, Percat showed a high level of maturity. Where others may have faulted, the 23 year old put his head down and drove like someone with years of experience in V8 Supercars. With determination and a strong strategy, he passed most of the field to get back up to fourth before handing the car over to Tander.
Tander’s first stint was strong and he took the lead in spectacular fashion from fellow Holden driver Craig Lowndes. However the #2 Commodore fell away over the final stint and Tander lost out to drivers charging through in the closing laps. He was able to cross the finish line in a very close fourth place.

In the #1 Toll HRT Commodore, James Courtney and Cameron McConville had a consistent day. Like Percat, McConville started the race and Courtney ended it, the pair able to claim ninth for a double top ten finish for Toll HRT.
The V8 Supercar Series continues in three weeks time with the biggest event of the year – the Bathurst 1000.

Update from MFL Sports Ambassador - Lee Troop

Morris Finance Ltd Sports Ambassador Lee Troop has won the half marathon crown on a picture-perfect day at the Blackmores Sydney Marathon and running festival on Sunday 18th September 2011.

It was a result which Lee won his 10th Australian crown just 12 months after he was forced to pull out of the same race after developing a blood clot that could have ended his life.

The Victorian runner crossed the finish line on an unseasonably warm day in Sydney in the time of 1hr 07min 15sec. "It was fabulous, the day and the result,'' Troop said."I have done a race since the Gold Coast half in July because of a hamstring injury so it's nice to get the win.''

Lee returned from his training base in Colorado to test his legs on the Sydney course as he ups the ante in his bid to make a fourth straight Olympic team in 2012. "It was definitely worth the trip back here from the States,'' said the delighted Troop who must still set a qualifying time in a marathon to make the London Olympic team. “I’m wrapped to have ten Australian titles across track, road and cross country, at 38 and a half (years), and to know that every day I’m taking now is getting me closer to retirement, I’m thrilled,” Troop said.

More than 35,000 pounded the pavement across various distances at the Blackmores Sydney Marathon running festival on Sunday 18th September 2011. People ran, jogged and walked across the Sydney Harbour Bridge to the Sydney Opera House finish line in the 11th Blackmores Sydney Running Festival. A beautiful sunny Sydney morning greeted runners from 43 countries as they made their way around four separate courses in the run that’s fun for everyone, aiming to raise more than $2 million for charities.

Among the masses enjoying the sights of Sydney were Blackmores Sydney Running Festival Ambassador Glenn McGrath, who was joined by Matt Shirvington in the Sunday Telegraph body + soul Bridge Run (9km). Co-ambassador and TV personality Emma Freedman completed her first Half Marathon, while Adam Gilchrist joined the many family groups on the Sunday Telegraph Family Fun Run and walk course (4km).

Joel Kiplimo Kemboi won the men's marathon in 2:17.39 while Ethiopian Letay Hadish claimed the women's title in 2:43.22. The course record set in 2010 was 2hrs 25min 17sec with the Kenyan on Sunday carving almost eight minutes off this time for his maiden win.

Update from MFL Sports Ambassador - Nick Percat

Morris Finance Sports Ambassador Nick Percat will compete for Walkinshaw Racing in the final two rounds of India’s Formula MRF series next month, becoming one of the first Australian drivers to race at the new Buddh International Circuit.

The domestic single-seater category will support the Airtel Grand Prix of India, the country’s first-ever Formula One event, held in Greater Noida from October 28-30.

It will be Percat’s first competitive race in an open wheeler since winning the Australian Formula Ford Championship in 2009.

“It’s a fantastic opportunity to be among the first to race at India’s new circuit,” said Percat.

“The Formula MRF cars have the same horsepower as the Formula Fords I’m used to racing, but the front and rear wings and larger slick tyres will give the cars more aero and mechanical grip.

“The track appears to have a lot of medium speed corners and a high speed back straight, so there should be plenty of slipstreaming opportunities. I’m really looking forward to it.”

Walkinshaw International will field two cars in the championship finale of the Formula MRF series at Buddh International Circuit.

“Over recent years India’s interest and participation in motorsport has grown enormously, culminating in the country’s first ever Formula One event later this year,” said Walkinshaw Racing Director Ryan Walkinshaw.

“Entering two cars in India’s one-make Formula MRF series is a great step for us to take in this rapidly growing motorsport market.

“Nick is certainly well credentialed in open wheeler racing and I’m confident he’ll be very competitive for us in India.”

Percat will fly to Chennai for a two day test after the L&H 500 Phillip Island endurance race, where he is co-driving with Garth Tander in the #2 Toll HRT Commodore.

The 22 year-old will then make his Bathurst 1000 debut alongside Tander before jetting back to India for the two Formula MRF races at the Airtel Grand Prix of India from October 28-30.

RBA Leaves Interst Rates on Hold

The Reserve Bank has decided to keep interest rates on hold, despite fears of the Australian economy struggling outside the mining sector.

The Reserve Bank board had been tipped to keep the official interest rate at 4.75 per cent, maintaining a "wait-and-see approach" as global markets react to the threat of a double dip recession in the US.

The decision was expected, with all 12 economists surveyed last week by AAP predicting the RBA would keep rates on hold.

The meeting comes as further signs emerge of a stagnating economy in the US, where employment growth has ground to a halt.

RBA governor Glenn Stevens admits the near term outlook for the Australian economy is weakening - clearing the way for rates to stay steady over the coming months.

"Beyond the near term, growth is still likely to be at trend or higher, unless the world economic outlook continues to deteriorate,'' the RBA statement said.

Unlike the August board meeting, there is no suggestion in the RBA statement that the board considered raising rates.

Important Accounting Dates for September

Following a busy August, you'll be relieved to know that September is a pretty quiet month for ATO lodgements.

21 Sep 2011

Activity statements

August 2011 monthly activity statements - final date for lodgment and payment.

30 Sep 2011

Annual TFN withholding report

Annual TFN withholding report for closely held trusts where a trustee has been required to withhold amounts from payments to beneficiaries during 2010-11 - final date for lodgment.

Win a Hot Lap in a Toll Holden Racing Team V8 Supercar

Be in the draw for your chance to win an experience of a lifetime.

Settle a new finance facility with Morris Finance Ltd during September and October 2011 and go into the draw to win a Hot Lap in a Toll Holden Racing Team V8 Supercar at the Phillip Island Ride Day on 14th December 2011.

This is a promotion that we at Morris Finance Ltd are excited to be running and look forward to drawing on the 2nd November 2011.

For further information please contact your Morris Finance Ltd representative today.

Terms and conditions apply, Please see below.

Update from MFL Sports Ambassador - Nick Percat

Morris Finance Sports Ambassador Nick Percat will be back behind the wheel of the #222 Coates Hire Racing Commodore as the Fujitsu V8 Supercar Series heads north to Queensland Raceway this weekend.

The 3.1 kilometre Ipswich circuit is the home test track of the Queensland-based Fujitsu teams, but Percat says he isn’t fazed about heading into ‘enemy territory’.

“Although there are drivers in the field who’ve done plenty of testing miles around the circuit this year I don’t think it will prove to be much of an advantage,” said the Coates Hire racer.

“The score has been pretty equal between the Victorian teams and the locals in recent years.
“Last year I finished fifth in my first visit to Queensland Raceway in a V8 Supercar, so I’m confident the Coates Hire Racing team can go better again this year.”

Percat has qualified inside the top three at every Fujitsu round so far this year, and is focused on more strong results at Ipswich.

“Obviously the Coates Hire Ipswich 300 is a really important event for our team. The support we’ve had from Coates Hire this year has been terrific and I can’t wait to see plenty of orange and white at the track this weekend!

“I’d love nothing more than to repay their support and the team’s hard work with another podium finish.”
It will be another busy weekend for 22 year-old, who will again be driving Garth Tander’s #2 Toll HRT Commodore during the first two V8 Supercar practice sessions on Friday.

The young racer is teaming with Garth Tander at the L’H 500 Phillip Island endurance race next month, and the Supercheap Auto Bathurst 1000 in October.

“The endurance races are just around the corner and we are well into preparation for those, but my focus this weekend is on doing the job for the Coates Hire Racing team.”

Two Fujitsu practice sessions will be held on Friday, ahead of qualifying and the first 15-lap race on Saturday.
The top-ten reverse grid race and the final 22-lap race will be held on Sunday.

In a first for the Fujitsu Series, races 1 and 3 of this weekend’s round will be telecast as part of the Seven Network’s coverage from the Coates Hire Ipswich 300.

We are at our New Office

This is a courtesy to advise as of Monday 15th August, 2011 we are officially in our new premises located at;

Level 2
237 Ryrie Street
Geelong Vic 3220

Our Postal Address will remain the same,

PO Box 4233
Geelong Vic 3220

Our Phone and Fax Numbers remain the same,

Ph: 03 5223 3453
Fax: 03 5223 3452

Should you have any queries with regard to our new office location please call our main Switchboard on
03 5223 3453 during office hours.

We look forward to hearing from you or please feel welcome to call in.

Advantage of Choosing the Right Equipment Finance

Choosing to finance your equipment means you can acquire what your business needs without dipping into your cash reserves. We finance a diverse range of equipment depending on your individual business needs, with an understanding that the right finance can play a major part in growing your business, short and long term. Here are some of the many advantages of financing your equipment:

Tax Advantages

Provided the equipment is used to derive taxable income, there are significant tax advantages in financing equipment over outright purchase, with the ongoing cost claimable as a business expense.

Harness Opportunity

Ready access to equipment finance means you're in a position to harness new opportunities as they arise with the advent of new technology. New equipment can often streamline processes and in doing so, save your business time and money.

Conserve Working Capital

Equipment finance prevents your business from tying up cash unnecessarily. With your lines of credit open you're free to improve your cash flow and take advantage of profitable business opportunities.

Accurate Budgeting

Given that most equipment finance is to an agreed fixed interest rate for a determined period, repayments are not subject to rises in interest rates, making it easier to forecast the expense to the business.

Flexibility

Repayment Schedules are flexible and can be structured to suit your cash flow.

If you have any questions in relation to the above please give us a call today and we can look at your needs to see how we can assist you and your business move forward with the right products for you.

Morris Finance Ltd is on the move!

Please be advised that Morris Finance Ltd will be relocating to new premises on the 12th of August 2011.

On this date our office and systems will be shut down from 11.30 am and we will reopen for business on the 15th of August 2011 at 8.30 am.

From the 15th of August 2011 our new street address will be:

Level 2
237 Ryrie Street
Geelong
Victoria 3220

From the 15th of August 2011 our PO Box address will remain the same:

PO Box 4233
Geelong
Victoria 3220

We do apologise for any inconvenience that may occur over this time.

We would like to thank you for your continued support and if you have any questions in relation to our relocation please give our main switchboard a call on 03 5223 3453.

RBA leaves cash rate at 4.75%

THE RESERVE Bank of Australia kept the cash rate steady at 4.75 per cent today, where it has been since November 2010.

Commonwealth Bank currency strategist Joseph Capurso said the market would focus on the accompanying statement from RBA governor Glenn Stevens for signs of whether rates were likely to rise in coming months.

"I think if anything the Aussie might climb a little higher because the Reserve Bank may put in that phrase in (the accompanying statement) about rates needing to increase at some point," he said.

"That might push the Aussie up, I don't think we're talking about a big leap forward, at most we'll get a half a US cent rise."

Most economists expected the Reserve Bank to leave interest rates on hold today, despite last week's higher-than-expected inflation figures.

NAB's chief economist Alan Oster told the ABC the volatility of the data was still enough for the Reserve Bank board to sit on its hands for a while.

He said putting up rates wouldn't help the multispeed nature of the economy, but it would hurt the ailing retailing and manufacturing sectors.

Industry groups had earlier warned of a "perfect storm" if the Reserve Bank defied expectations and increases the cash rate, potentially putting jobs at risk.

Australian Food and Grocery Council chief executive Kate Carnell said manufacturers already were being squeezed as they struggled with falling consumer demand, cheaper imports and rising costs.

"All of those things come together to be a perfect storm, really," she said. "We haven't seen all of things together at the same time for a very, very long time.

"All an increase in interest rates could possibly do is make the situation worse."

Figures released by the Australian Industry Group and PricewaterhouseCoopers yesterday revealed manufacturing activity slumped last month, with the Australian Performance of Manufacturing Index falling to 43.4. A reading below 50 indicates contraction.

The outlook is similarly bleak for retail.

Australian Retailers Association executive director Russell Zimmerman said the industry hadn't posted healthy growth for at least 18 months and retailers could close their doors or reconsider staffing levels if consumers' discretionary income fell further.

"There are huge pressures on household budgets at the moment and this has rendered consumers too spooked to spend," he said.

"There is no way either retailers or consumers will be able to cope with any increase in household mortgage repayments."

HIA chief economist Dr Harley Dale fears for the housing industry. "It's a dangerous thing to be kicking the industry when it is already down," he said

Important Accounting Dates for August

The 2012 financial year is well under way, so it’s important to ensure your standings are in good order with the ATO. Below are the key dates to be mindful of this month:

14 August 2011

PAYG withholding payment summary annual report for large withholders (annual withholding > $1 million), or a payer who has no tax agent or BAS agent involvement in preparing the report.

21 August 2011

Monthly activity statement for July 2011.

25 August 2011

Quarterly activity statement, quarter 4, 2010-11 -electronic lodgment (electronic lodgment service [ELS], electronic commerce interface [ECI], Tax Agent Portal or BAS Agent Portal).

28 August 2011

Superannuation guarantee charge (SGC) statement - quarterly for quarter 4, 2010-11 (if required contributions were not made by the due date).

31 August 2011

TFN report for closely held trusts.

Note: If you lodge a TFN report electronically, you may lodge it when the 2011 Trust tax return for the trust is due. This is a transitional arrangement for the Lodgment Program 2011-12 only.

For more information on ATO and compliance, visit the ATO website.

Important Accounting dates for August 2011

Update from MFL Sports Ambassador - Lee Troop

Close but still not there…..

It has been 10 days since my 6th place finish at the Gold Coast marathon and even though I am disappointed in falling short of my target time (sub 2hrs 12mins) by running 2hrs 15mins and 45secs, I am pleased that I still took a forward step that shows I am really close.

My preparation for the race had been flawless and when I left my base in Boulder CO on June 15th I was very confident that I could achieve the goal that I needed in the marathon.

I arrived in Launceston (Tasmania) on June 17th after travelling 28hrs straight and I raced a local 10km road race where I finished 2nd in 29.02. (Liam Adams 1st in 28.57). I was extremely pleased with the result as I wanted to run 29 – 29.30 for the race so to be spot on with the time and run as well as what I did showed everything was on track.

The next 2 weeks leading into the race were all about recovering from my heavy training and freshening up for the race. I spent a week with my parents in Geelong along with my daughter that I brought with me from the States. Apart from the cold weather, everything still ticked along nicely leading into the marathon.

I flew into Gold Coast 4 days before my race with two pace makers from America that I coincidentally coach but were there to assist the race in making sure we could get off to a fast time from the start.

I did a light track session on the Thursday before the race at Runaway Bay and noticed a slight hamstring niggle and a really tight left hip. I am a meticulous person and I raced back to the hotel and tried a series of different things to try and loosen it up but it was bothering me slightly. I was able to call a friend of mine (Michael Shelley – 2010 Commonwealth Games Marathon Silver Medalist) and he got me into his chiropractor the following day.

We were able to loosen it up and I continued to roll on a golf ball in my left hip over little trigger points to help elevate the tension/ tightness on my sciatic nerve over the next 2 days to stay on top of it.

Race day rolled around on July 3rd and I was ready to take the race on. I knew I was in good shape and I wanted this sub 2hr 12min time. As the gun went off I took off with the leaders and nestled myself at the back of the pack and I felt ok but just did not feel fluent or flowing as I should have felt.

The first 10km was ok but I really could not settle into any rhythm and was finding the race a bit of a grind. It was a slight head wind out and I wanted to stay with the leaders till the 15km turn around point and then use the tail wind at the turn to find my own rhythm but when we turned it was like we were running into another head wind. I started to panic and had to dig deep to stay with the leaders but I was starting to work harder than I should be and was dropped at 18km. This was not a great feeling and then negative thoughts start to creep into your head and I was determined to make this a great race. I focused on getting to 30km, which is where the start/ finish area was and assess from there.

At 30km I was still on track but time was slipping away. I was still struggling to find any rhythm and I knew that I was going to miss the time from that point and for me the focus changed to making sure I could run as fast as I could and finish the race as best I could. The last couple of years have not been great for me and I had not run or completed a marathon in that time so I needed to post a result to make me feel like I was still in the game and also my daughter was at the finish line and I wanted to make sure I practice what I preach and that is to do the best job I could on the day regardless of result!

The last 12km felt no different to the first 30km where I could not find any rhythm but the fact that I could grind out a marathon and run a decent time better than what I have done in the last few years shows that in a round-about way that I am back but not quite there.

The unfortunate thing with the marathon is even if you are only 1% off on race day, that can blow out by minutes and you need everything to be 100%. As I said earlier I am disappointed I failed in getting the time I wanted but from where I have been, this is a small step forward and I just need to keep working harder. Lets face it, 3mins 45 secs is not a lot when broken down to being 5secs per kilometer.

10 days later I have already looked ahead to what I need to do next to make this sub 2.12 performance happen but for the moment I need to take the race for what it is and that is a solid run and I guess from this, I take comfort from a great Australian classic by Paul Kelly and that is “From Little Things, Big Things Grow” and hopefully finally completing this marathon it will be a benchmark for the next one.

Here are the results:

1 NICHOLAS MANZA KAMAKYA KENYA 02:10:01
2 ALBERT KIPLAGAT MATEBOR KENYA 02:10:13
3 JAPHET KIPCHIRCHIR KIPKORIR KENYA 02:10:50
4 TAIGA ITO JAPAN 02:13:16
5 NORIAKI TAKAHASHI JAPAN 02:14:13
6 LEE TROOP AUSTRALIA 02:15:45

Till my next race and update, stay healthy.

Cheers

Lee

Update from MFL Sports Ambassador - Nick Percat

Morris Finance Ltd sports ambassador Nick Percat is confident he can challenge for race wins this weekend, when the Fujitsu V8 Supercar Series returns to North Queensland for the Sucrogen Townsville 400.

The 22-year old impressed in his first visit to the Townsville street circuit last year, collecting two top 3 race finishes in an older model VZ Commodore.

Percat has already claimed a pole position and a round win this season, and wants to continue his good form in Townsville.

“At this point in the season I’m not concerned with the championship, that will take care of itself,” said Percat, who sits eighth in the series points.

“There’s one box we want to tick at Townsville, and that’s race wins.

“We’ve shown that the #222 Coates Hire Racing VE Commodore has the speed to run at the front, and now want to prove that we’re also capable of winning races.”

After the last Fujitsu race in May, Walkinshaw Racing announced Nick as co-driver with Toll Holden Racing Team’s Garth Tander for the Phillip Island and Bathurst endurance races.

He participated in the co-driver practice sessions at the Winton and Darwin V8 Supercar events, and will again drive Tander’s #2 Toll HRT Commodore during Friday’s first two practice sessions at Townsville.

“It will be a busy start to the weekend, but naturally I grab every opportunity I can to get more laps in the cars.”

Percat will be back behind the wheel of the Walkinshaw prepared #222 Coates Hire Racing VE Commodore for the round’s three-race format, which includes a reverse grid race for the first time this year.

Several experienced main game drivers, including fellow Toll HRT enduro signing Cameron McConville, have bolstered the 28-strong entry list.

“We’re up against probably the strongest Fujitsu field this season, but I’m looking forward to the challenge.”
Two practice sessions will be held on Friday, ahead of qualifying and the first 14-lap race on Saturday. The remaining two races will be held on Sunday.

Townsville is the third round of seven in the 2011 Fujitsu V8 Supercar Series.

RBA leaves cash rate unchanged at 4.75%

RBA has kept the cash rate unchanged yet again at 4.75%. Minutes from the board's July meeting nearly mimicked their June statement. The short term economic outlook for the remainder of 2011 calendar year has softened slightly; this is especially evident in global oil prices which are still feeling the effects of the Japanese earthquake.

However, the RBA's medium term outlook remain unchanged and on track. CBA economists are among many predicting another rate hike as soon as August depending on quarterly market data. This will be followed by another rate rise in early 2012, and economists expect rates to peak at 5.75% in 2013.

View the full statement by governor Genn Stevens here.

Important Accounting Dates for July

Just when you thought the financial year was over an you have seen the last of the paperwork, the new year's lodgement sue dates begin. Here are the key dates for July:

14 Jul 11

PAYG withholding

Payers must issue PAYG withholding payment summaries to payees (that is, employees and other workers).

21 Jul 11

Activity statements

June 2011 monthly activity statements - final date for lodgment and payment.

Quarter 4 (April - June 2011) activity statements containing a monthly GST obligation - final date for lodgment and payment.

* To ensure you receive the correct amount of credit in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.

Quarter 4 (April - June 2011) consolidated instalment activity statements - final date for lodgment and payment by a head company of a consolidated group.

28 Jul 11

Activity statements

Quarter 4 (April - June 2011) activity statements - final date for lodgment and payment.

To ensure you receive the correct amount of credit in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.

PAYG instalments

Quarter 4 (April - June 2011) instalment notices (forms R and T) - final date for payment and, if varying the instalment amount, lodgment (two-instalment payers are also required to pay 25% of their PAYG instalment liabilities).

* To ensure you receive the correct amount of credit in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.

GST instalments

Quarter 4 (April - June 2011) instalment notices (forms S and T) - final date for payment and, if varying the instalment amount, lodgment (two-instalment payers are also required to pay 25% of their instalment liabilities, and four-instalment payers are also required to pay the final 25% of their instalment liabilities).

Superannuation

Superannuation guarantee contributions for quarter 4 2010-11 (1 April - 30 June) are to be made to the fund by this date.

* If an employer does not pay the minimum superannuation guarantee contributions for quarter 4 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) with us by 28 August 2011. The SGC is not tax deductible.

99% of QLD insurance claims processed

With only a day until the end of the financial year, the Insurance Council of Australia (ICA) has revealed that nearly all insurance claims from Cyclone Yasi and the floods have been assessed.

For the last month, the ICA has been paying out an impressive $10.6 million every working day, in individual cash payments or repair funds.

In a statement made by ICA chief executive Rob Whelan, he said that the sheer “number of claims already paid demonstrates the importance of a responsive and and secure insurance industry [that's] able to appropriately determine claims.” To put their hard work into perspective, the affected insurance companies received over $3.5 billion dollars in claims in the few months following the summer natural disasters.

Additionally, there is a separate committee dealing with the funds raised by the Premier's Flood Appeal. They are now on the third phase of payments, with a combined $90 million paid out in the earlier stages. Over 2500 applications have been received and around 500 more will squeeze in before the cut off date on June 30th. Just like the ICA, the Flood Appeal committee has been working feverishly to process around 50 applications a day, and have distributed more than half of the donated funds. So what will happen with the remainder? Committee chairman David Hamill says the rest of the money will be distributed to people still recovering from floods and used to fund assistance programs.

The news that 99% of insurance claims have now been completed couldn't come at a better time. It brings some closure to a tough 2010 financial year, allowing Australians to look towards a fresh start to a stronger economy in 2011.

Ash cloud dissipates as costs add up.

Last night, most airline schedules returned to normal, after over a week of disruptions cause by ash blown over form a Chilean volcano. Now, the airlines can start to sum up the damage and asses the impact of the situation.

The CEO of Jetstar reported $10 million in losses, nearly on par with Qantas who was at $11 million. However, since these numbers were estimated on Tuesday prior to further cancellations announced, both airlines are still doing the maths. With the European volcanic ash incident earlier in the year, the impact of natural disasters has now cost Qantas $200 million this financial year.

The positive outcome of the situation is that it has put pressure on the Australian aviation authorities to investigate and invest in better technology. In Europe, airlines have access to equipment allowing them to measure the density of ash. Currently, the policy followed by Qantas and other airlines is that it's unsafe to fly where the density of ash is unknown. Having access to advanced equipment would allow Australian airlines to make more accurate judgement about when and where it is safe to fly.

Having said that, all airlines have stated that they are happy with their decisions and believe the appropriate amount of precaution was exercised considering the situation and available equipment.
All services from New Zealand and Tasmania are expected to resume today.

Update from MFL Sports Ambassador - Grant Suckling

Grant Suckling’s battle to the podium at Australasian Multisport Championships.

Grant recently participated in the elite 3D Rotorua Adventure race in New Zealand. What made this event elite is the line up of hand picked athletes who were selected to compete. The Roturua committee had spent the past year evaluating Australia's top adventure racers, with only five elite males, and three elite females scoring an invite to the prestigious course. Having won the Anaconda race late last year, Grant was lucky to receive the first invite the event.

The reason this prestigious course was called “3D” is because it's made up of three challenges, each with its own dimension of difficulty.

3 Dimension’s of the Race

1. First, the competitors faced an 8km paddle down the beautiful Lake Okareka. As one of the strongest kayakers not only within Australia but around the world, Grant was expecting to blaze through the start. Instead he was slowed down with kayak problems, having to swap boats only to be faced with further trouble.

2. Next, Grant and the other racers jumped on their bikes to ride a custom built trail through the Whakarewarewa Forest – known for some of the best mountain biking terrain in the world. Grant’s luck only got worse when he continued to have mechanical issues on the bike. Nonetheless he pushed to keep up the pace with the local riders and pros in the lead.

3. For the final dimension of the 3D Rotorua race, Grant was treated to a 12km trail run through the magnificent Redwoods Forest. Luckily, with running shoes as Grant’s only ‘equipment’, Grant was free of technical issues and made a strong push to the finish line.

What may surprise you is that after facing problems for most of the race, Grant still ended up among the top 5 athletes on the podium! He was even captured wearing brand new MFL gear after the race for a Fox Sports documentary. Although the footage won’t air for a while, in the meantime you can see photos of Grant’s epic race at marathonphotos.com

Grant’s perseverance and dedication to finish the race despite all the hurdles is precisely why we are proud to have him aligned with the Morris Finance brand. We look forward to bring you more on Grant’s successes and challenges throughout the season.

Update from MFL Sports Ambassador - Lee Troop

Gold Coast Marathon

On Sunday July 3rd I will be running the Gold Coast Airport Marathon and I am nearing the end of a very heavy training block. The goal in this race is simple: Run under 2hrs and 12mins and post a qualifying time for next years Olympic Games in London.

11 weeks earlier on April 17th, I attempted the London Marathon with a similar goal but I failed to finish the race after cramping from 27 – 28km’s. My preparations for London started exactly 16 weeks prior after having 3 months off running with a pulmonary embolism on my lung and shortly after the birth of our twin boys.

I look back on the training that I did for that race and the goal was to get fit and get on the starting line and what I achieved in that 16 weeks combined with our hectic personal life’s was amazing but the reality was that I was not physically ready.

Marathon training needs at least 10 – 12 weeks of 180+km’s a week with 34 – 36km runs every Sunday and I was around 5 weeks short and the other part of my training that really adds to my strength is a lot of hill running and I did not do that leading into London in fear of getting injured!

My preparations for Gold Coast have been different. I was already fit from London and I have used the work that I did for that along with the extra things that I would normally do but didn’t such as more longer runs (1 x 3hr run 6 weeks out from marathon), hill sessions every week and another 5 - 6 extra training weeks of 180+km’s.

I feel that the above are the missing jigsaw pieces from the puzzle that are needed to achieve the qualifying time and make my 4th Olympic Games team. The other great thing that has aided my training in this block is after 7 months; Max and Jack now sleep through the night….

I leave Boulder Colorado next Wednesday (15th) knowing all the work has been done. I will do a 10km race in Launceston on the 19th June and the last 2 weeks will be freshening myself up and getting ready to go to battle!

Some fast facts:

Lee will join Robert de Castella and Steve Moneghetti when he makes the team for England as the only men to complete in four Olympic Games in a row in the Male Marathon Event.
Lee is one of only five Australians to have run a marathon in under 2 hours 10 minutes.

Australian economy still feeling effects of the floods.

Recently released data from Australian Bureau of Statistics (ABS), NAB and other sources suggests that our domestic economy is still having a hard time recovering form the summer's floods and Cyclone Yasi.

Recent Data

ABS reports have showed that the economy has shrunk 1.2% in the quarter ending in March. The data from NAB wasn't any more positive. NAB survey results revealed that business conditions index fell four points while confidence levels fell by one point. These figures are only slightly better than the numbers recorded in February right after the disasters occurred. This means that there hasn't been much improvement over the last 4 months.

Multi Speed Economy

While many industry sectors are struggling to recover, others are booming in start contrast, suggesting the two speed economy is here to stay. Industries suffering include transport, utilities, wholesale and retail. On the other hand, mining conditions are up 50 points according to the NAB survey, reaching the highest levels in the survey's history.

Insurance Outlook Unclear

Although many assumed insurance companies would be among the struggling industries, numbers show otherwise. Suncorp was one of the insurance companies most affected by the floods. Already, they've had around $200 million in claims. However, Suncorp representatives say it's hard to tell what impact this will have on their overall position at the end of the year. The company has extensive budgets and reinsurance to cover natural disasters. They've budgeted $430 million for the year and the floods have cost $200 million in the first half. At this rate, Suncorp still has $230 million allocated for the second half of the year. However, it is hard to tell how many more claims will continue to come through from the summer floods, and therefore the impact of floods on the insurance industry remains uncertain.

While we may not have seen as much improvement as predicted over the last quarter, not all is gloomy. Unemployment continues to reach new lows suggesting a strong market and though our domestic economy is still a bit shaky, globally it remains strong in comparison to many other countries which continue to struggle.

End of 2010-11 Financial Year Tips

June 30th is inching closer which means it's the end of yet another financial year. While you're busy tying up loose ends and getting the books organised, consider the below tips to make the most of your tax return and take advantage of any government incentives that may apply:

Save tax by contributing to Super
If you're an individual under 50 years old and in business, super contributions up to $25,000 are tax deductible. For individuals in business over 50 years old, the tax deductible limit doubles to $50,000.

Distribute Profit
This is especially valid if you are operating a family business. Asses the business structure and consider whether you would be better off to list is as a family trust. This would enable you to distribute profit to family members in lower income brackets or pay family members a wage out of the business profit.

Push out income
As strange as it sounds this might be the one time of the year when you might want to wait a little to get paid. If you can, hold off on sending out any new invoices until after June 30th. Similarly, you can time the sale of a property or business to delay the capital gains tax. Therefore, tax on deferred income will not be payable until the following financial year.

Spend before the 30th
Bring all anticipated expenditure forward in order to increase the total business deduction. This includes any supplies, consumable goods or repairs but does not include purchasing extra stock. An easy deduction many forget about can be to pay all your employees their super guarantee amounts.

Assess you debtors
Debtors might be the last thing you want to think about but it's worth reviewing amounts owing before the 30th of June. You can write off bad debt and claim back GST credits when an amount has been outstanding over 12 months.

Take advantage of deductions & write-offs
There are several new government initiatives allowing small businesses to instantly write off purchases for business. To take advantage of these, purchase any required business assets before the end of June to be able to claim the write offs this financial year.

If you're thinking of acquiring some assets before the end of the financial year, give Morris Finance a call. We're known for working quickly and might just be able to help you get finance for those assets before the end of the financial year.

RBA leaves cash rate unchanged at 4.75%

Today, the government decided to leave the cash rate unchanged at 4.75%. This becomes the fifth consecutive RBA board meeting where the rates haven't moved.

The decision does not come as a shock although next month may not be so predictable. As we move into the new financial year and second half of the calendar year, how much longer can the rate freeze last? After all, the widespread predictions are still set to expect a full percentage rise, up to 5.75%, within 12 months.

The next move will largely be determined by the June quarter data due out later this month. Governor Glenn Stevens mentioned the weather was mainly to blame for the fall in GDP in the March quarter, and expects numbers to be back on trend in June. However, with only a few days between the June data release and the next board meeting, CBA economists are among those predicting the next rise to be in August.

For the full report, visit RBA.gov.au

Important Accounting Dates for June

WIth the financial year coming to an end, most businesses will have a lot of work to get through this month. Luckily, you won't be bogged down with lodgements in June.

21 Jun 2011

Activity statements

May 2011 monthly activity statements: final date for lodgment and payment.

30 Jun 2011

End of financial year.

Rules change for salary sacrificed cars.

The government has adopted recommendations form the Henry Review, eliminating
the system that allowed people to decrease their tax by increasing work related driving.
Currently, the Fringe Benefit Tax (FBT) uses a statutory formula to determine tax
benefits by multiplying the car's cost by a series of pre-set statutory rate. Following the
new ruling, there will be a flat rate regardless of the number of kilometers driven instead
of four separate tax brackets.

The ruling is expected to save nearly $1 billion over four years and was one of the
biggest cost saving measures in the recently released budget. The Henry Review found
that many people abused the system, driving excess kilometers toward the end of the
tax year to put themselves into a lower tax bracket. The policy has also been widely
criticised by the Greens because they claim it encouraged people to drive more than
they needed for tax benefits.

So what about those who legitimately drive a lot of kilometers for work? Luckily, the
government hasn't made any changes to the log book method. So if you're diligent, all
kilometers recorded for business use won't count towards the fringe benefit. However,
with increased scrutiny from the ATO, make sure your log book is in top shape.

The new rules will be phased in over a 4 year period starting with any new vehicle
contracts entered into after May 10th, 2011. If you have just purchased a new car or are
looking to do so, feel free to contact Morris Finance for more information on the new .

Join MFL for Hot Chocolate Day

Morris Finance Ltd has jumped on to assist the Barwon Health Foundation and the Geelong Hosptial Appeal to raise funds for the future development of their children's ward.

The day will be held this Friday the 20th of May in the Canteen of Geelong Hospital on Ryrie St. It will be hosted by the Bay FM morning crew team of Hayden and Paula starting from 6.00 am and running through to 9.00 am.

There will be a number of special guests on the day including:

David Ashbridge (Barwon Health CEO)
Peter Hitchener (Barwon Health Foundation Patron and channel Nine news presenter)
Max Rooke (Geelong Football Club)
Tim Diamond (Cotton On Foundation)
Gavin Seidel (Barwon Health Foundation Executive Director)
Parents of kids being treated in the Children’s Ward

All the normal elements of the morning crew will continue on the day including the footy tipping with Geelong Football Club Manger Neil Balme and Channel Seven News reporter Rebecca Madden.

Our own Nathan Murray will also be interviewed live on air and may even have some exciting news for Gavin Seidel and the team at the Barwon Health Foundation.

For more information please visit http://www.barwonhealth.org.au/geelonghospitalappeal/

Update from MFL Sports Ambassador - Nick Percat

Rising V8 Supercar star and Morris Finance Ltd Sports Ambassador Nick Percat has been awarded the opportunity of lifetime and will join Holden’s famous factory Toll Holden Racing Team for the annual V8 endurance races at Phillip Island and Bathurst.

The 22 year old will co-drive with his mentor, 2007 V8 Supercar Champion and two-time Bathurst winner Garth Tander in the #2 Toll Holden Racing Team Holden VE Series II Commodore.

The team made the announcement, this morning at co-naming rights sponsor Toll’s brand new fleet facility in Altona, Melbourne.

Tander said Percat’s appointment was a natural progression in his young but successful racing career, during which Tander has mentored the rising star.

“I have known Nick for a long time and worked with him since his days in Formula Ford, so I am delighted that he will be joining Toll HRT and driving alongside me at Phillip Island and Bathurst,” Tander said.

“Every time Nick has tested my Toll HRT Commodore he has been right on the money. There won’t be any extra pressure applied from us, we think Nick is ready, we have absolute faith in the job he will do and this is a great opportunity to give a young guy a start.”

A lifetime HRT fan, Percat said he was surprised to receive the call up, but promised to make the most of the opportunity.

“When I was first told I would be driving for the Toll Holden Racing Team with Garth Tander in this year’s enduros I was quite shocked,” Percat said.

“Growing up I always followed HRT and now to be driving one of its Commodores in two of the year’s most important races with one of the best drivers in the field is a massive opportunity, one I will be grabbing with both hands.”

Percat was confident of handling the expected outside pressures of driving for the famous factory squad.

“Pressure comes with driving for a team like Toll HRT, but I don’t mind – I seem to get more out of myself when the pressure is there. I will have some good guys around me to help me through it, so I’ll take one step at a time and do the best job I can.”

Toll Holden Racing Team Managing Director, Craig Wilson said this year’s enduro driver line-up presented two of the most exciting and respected combinations.

“We are really pleased to announce Cameron McConville and Nick Percat as co-drivers for James Courtney and Garth Tander for this year’s endurance events at Phillip Island and Bathurst,” Wilson said.

“I think it is great to have consistency in our driver line up with Cameron joining the Toll Holden Racing Team again and to have fresh new talent in Nick, who will be a great match-up for Garth Tander.

“We believe both driver combinations are capable of being on the podium at both this year’s events and we are looking forward to these significant races.

“Nick is gaining considerable racing miles in the Fujitsu V8 Supercar Series, in which we believe he is doing a fantastic job, and Cameron back racing regularly in the V8 Ute Series is also a bonus.”

Percat is considered one of Australian motor racing’s brightest young prospects. After a distinguished karting career, he moved to the Formula Ford category in 2005, winning the South Australian state title before moving to the national championship in 2007.

Percat won the Australian FFord Championship in 2009 and set the record for the most ever race wins in the junior open wheeler category with 22 victories.

Driving for Walkinshaw Racing, Percat made his V8 Supercar debut in the Fujitsu development series in 2010, finishing the year fourth overall. He made his V8 Supercar main game debut at last year’s L’H 500 at Phillip Island, co-driving with Andrew Thompson in the Bundaberg Red/Walkinshaw Commodore.

This year, Percat is again contesting the Fujitsu V8 Supercar Series for Walkinshaw Racing, driving the Coates Hire Commodore. He won the opening round of the championship in Adelaide and sits eighth in points after two rounds.

The three round V8 Supercar endurance series kicks off with a traditional 500km warm-up to Bathurst at the L’H 500 at Phillip Island on 16-18 September.

Australia’s Great Race, the Supercheap Auto Bathurst 1000 follows on 6-9 October.

The third and final enduro race for the season, the Armor All Gold Coast 600 takes place on 21-23 October, with each of the 28 regular season V8 Supercar drivers being joined by an international co-driver for the event.

Stay tuned for more updates on our Sports Ambassadors over the coming months.

Nick is on the right hand with the Morris Finance Ltd logo on his helmet.

The 2011 Budget and what it means for you.

After much speculation, the federal budget turned out to be not as tough as predicted. The 2011 budget aims to return Australia back to surplus by 2013 as promised during elections. We look at what other promises the government plans to deliver on and what sacrifices have been made.

What it means to you:

Families

The ETR (Education Tax Rebate) will allow families to claim school relates expenses such as computers, textbooks, stationery and even uniforms.
Family Tax Benefits haven't been reduced, but they haven't increased either. So with the rising costs, they won't buy you as much.
Dependent spouses who turn 40 this July will no longer benefit from the tax offset.

Students

Discounts for paying HECS fees upfront will be halved from 20% to 10%. Additionally, the tax bonus on voluntary repayments of $500 or more will also be cut in half from 10% to 5%.

Small Businesses

Overall, small businesses did well in the recent budget. It will be 2012-13 when the benefits really kick in with the tax rate dropping to 29%, accelerated vehicle depreciation and instant write-offs on any new assets over $5000.
Indirectly, small businesses might receive the biggest benefits from the governments investment in training to address the difficulty of finding appropriately skilled workers.
Employees with cars on salary packages and driving a lot of kilometres will lose out due to changes of the FBT.

Education & Training

One of the key initiatives in this budged was titled “Building Australia's Future Workforce.” The government will spend $558 million resulting in training opportunities for u to 130,000 workers. Additionally there will be spending to support teachers and disabled students.

Regional

The Budget didn't forget Australians in regional areas with $4.3 billion going to hospitals, healthcare, universities and roads. Skills are also being addressed with $500 million for higher education and 16,000 skilled migrants to fill labour shortages.

Key Compromises

Defence has been hit hardest with $1.3 billion in budget cuts, which is expected to result in 1,000 civilian jobs lost. Non-for-profit organisation will see a reduction in concessions, and more competition with a new statutory definition of charities.

If you have any questions regarding the budget changes and how they potentially affect you or your finances, feel free contact MFL and we'll do our best to help.

Update from MFL Sports Ambassador - Lee Troop

Positives can still come from Negatives

On Sunday April 17th I stood on the London Marathon start line with the goal of trying to run a sub 2 hrs and 12 mins to qualify for the 2012 Olympics.

My campaign started exactly 16 weeks prior after having 3 months out with a pulmonary embolism on my lung and shortly after the birth of our twin boys. I am someone that needs a goal to keep me motivated and even though I would be starting back unfit and the demands of new born babies, I honestly felt if I did everything right I could possibly run sub 2 hrs 15 mins.

I started to map out a strategic plan and normally a marathon preparation for me consists of 16 weeks with a minimum 10 of those weeks running 2 hrs and 30 min long runs on a Sunday. Now I obviously could not jump straight back into a full training workload so the first 8 weeks were all about getting fit and doing enough mileage to assist in that but not allowing me to get injured.

After I had successfully got to this point I decided to ramp up the training and I put together a hard 4 week block and raced the New York Half Marathon at the end of this. My goal was to run 64 – 65 mins but when I ran 63 mins and 13 secs, everything from the point changed. I was over the moon and felt that I was selling myself short aiming for a sub 2 hrs and 15 mins and that I could actually run the Olympic Games qualifying time under 2 hrs and 12 mins.

My last 4 weeks leading into London were all about the Olympics and qualifying and I was excited. I went into the marathon with only 5 x 2 hrs 30 min long runs but still I thought I was capable of pulling off the impossible.

I started the race out well and felt amazing for the first 18kms and went through the halfway mark in 64 mins and 40 secs but after 25km I started to fatigue and could feel mild cramping in my left hamstring/ hip. I kept pushing and running as hard as I could but at 27 – 28kms the cramps were becoming more intense and by 30km I was reduced to a shuffle/ walk. I lasted another 5km but withdraw at 35km.

Initially I was really disappointed with the result but on reflection and speaking with some close friends, the race and what I achieved in the last 16 weeks to get to the start line of the London marathon was amazing and the reality was I was under done. I needed that extra 5 weeks of long runs and hard training to have me fully conditioned for the rigors of the marathon and I was foolish to think I could be different and run well off half the preparation.

The positives I take from the race are that I am now fit. I ran a great half marathon in New York and was great for half the race in London, which was done off half the normal training. If I use the work I have done to date and look at the positives, I can definitely run something special, so I am now mapping out my next race and goal and excited that I am very close.

RBA keeps cash rate at 4.75% yet again.

Following it's monthly board meeting yesterday, the RBA decided to leave the cash rate unchanged at 4.75 %. This news comes only a day after the Aussie dollar hit another record high of 1.10 USD. Although economists widely predicted this month's outcome, there is some variation in opinions as to how soon the next rise will come.

Currently, the RBA is basing its decisions predominantly on inflation. Although last quarters inflation data has come in showing a spike, the RBA seemed to play this down. Perhaps they haven't had a chance to fully assess the significance of the inflation data as it was released only a few days before yesterday's report.

However, with the high exchange rate keeping consumer goods prices at bay, there was no indication that the RBA is in a hurry to raise interest rates next month. Many economists are anticipating the next move to be in July or August.

For the full Monetay Policy Report, visit RBA.gov.au.

Update on MFL Sports Ambassador - Nick Percat

Coates Hire Racing’s / Morris Finance Ltd Sports Ambassador Nick Percat is taking the positives out of a tough weekend in the second round of the Fujitsu V8 Supercar Series at Perth’s Barbagallo Raceway.

Percat started the weekend strongly, starting the opening race from third on the grid. Nick’s solid race run ended when he was forced to pit with damage sustained at the turn seven exit kerb.

Starting from 23rd for the second and final race, Nick impressed onlookers as he raced through the field to eleventh, passing more cars than any other driver.

However, with just several laps remaining the #222 Coates Hire Commodore was hit from behind, spinning him off the track and dropping him to 16th.

“This was my first visit to Barbagallo Raceway in a V8 Supercar, and while we didn’t get the results we were after, I was encouraged by the pace of the car all weekend,” said Percat.

“There’s no doubt it has been a tough weekend for the Coates Hire Racing team, but we are more determined than ever to bounce back and continue the fight for the championship,”

“It was great to have so much support from the local Coates Hire and I can’t thank my guys enough for all their hard work.

After the first two rounds Nick sits eighth in the series standings.

The next round of the Fujitsu V8 Supercar Series is on Townsville’s street circuit from July 8 – 10.

You can visit Nick's website at www.nickpercat.com or

Follow Nick on Twitter: twitter.com/NickPercat or

Like Nick's page on Facebook.

(left) MFL occupies prime real estate on Nick's window. (right) Nick sporting MFL logos on his racing attire.

Important Accounting Dates for May

After a relaxing long break in April it’s time to get back to business. Here are the accounting dates coming up in the month of May:

12 May 2011

Activity statements
Quarter 3 (January - March 2011) activity statements: final date for electronic lodgment and payment. Refer to Lodge your activity statements online for information on your eligibility for this later due date.

21 May 2011

FBT return
Due date for lodgment of 2011 FBT return and payment if required.

Activity statements
April 2011 monthly activity statements: final date for lodgment and payment.

28 May 2011

Superannuation
Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) (if required contributions were not made by the due date) for quarter 3 2010-11 (1 January - 31 March).
The SGC is not tax deductible.

Q & A with Southern Cross 10 Victoria GM Jason Priestley

You may have seen the recent Morris Finance TV commercials or read about them on our blog. During the making and airing of the ads MFL worked together with Southern Cross 10 Media. A little while ago we had the chance to have a Q & A session with General Manager Jason Priestley:

What is your job?

General Manager at Southern Cross 10 Media - Central/Western Victoria.

What does your role entail?

Predominantly, I manage a team which designs and sells advertising packages for both TV and Radio for clients all over Australia. Additionally I manage a team of on-air announcers, production staff and technical engineers.

How did you get started in the industry?

My start in media began in my home town of Echuca, where I worked as an Advertising Consultant for a newspaper called the Riverine Herald. After doing that for two and a half years I applied for a sales job in TV and I got it!

What has been a memorable event or accomplishment in your career?

Most memorable would have to be when I got my first Management gig. It involved moving my pregnant wife and family interstate to do so!

What keeps you motivated and passionate about what you do?

The ongoing challenges of keeping up with media changes in general. As a kid I had just one TV Channel to choose from but now we have multiple channels and the number of channels is growing. Also providing successful advertising campaigns that get results for everyday business owners keeps me motivated.

How do you know Morris Finance?

MFL was introduced to me through a mutual friend and is now a client, having recently released their first series of TV ads.

What is your impression of the company?

Morris Finance is a progressive company which is open minded enough to accept and embrace change and every day challenges that present us. Yet at the same time they're also innovative enough to develop options for their customers and clients.

For more on Southern Cross 10 media, visit www.scmedia.com.au . We look forward to delivering our partnership with Southern Cross and expanding our brand through radio and television across Australia.

Race report from MFL sports star Grant Suckling

I’ve just completed the first part of the Anaconda Adventure Race Series, held April 16-17 in Forster NSW. This is the only 2-day leg of the whole series, and gave the professional athletes a bit of an advantage. I had a great weekend, placing second behind World Champ Richard Ussher from New Zealand. I gained the position early Saturday, beating some pretty good athletes including Olympic triathlete Simon Thompson and Western Australian Krishna Plain.

The two days of racing consisted of the following challenges:

Day 1 - 2.1km swim, 16km paddle, 18km mountain bike, 12km run (my time was 3hours 47 minutes).

Day 2 - 1.9km swim, 16km run, 28km mountain bike, 13km paddle, 3km run (my time was 4hours 58 minutes).

Placing second means I get some really valuable series points. I hadn’t targeted my training specifically for this event because it clashed with Kayaking Nationals and I was still recovering from some injuries – so I am especially pleased at how it turned out!

Check out the post race interview here – you can spot me wearing the MFL polo! I’m already looking forward to the next leg of the even to be held in Queensland, and for more information on the Anaconda series you can visit www.anacondaadventurerace.com

You can keep and eye out for an article in the Geelong Advertised in the coming days highlighting my involvement in the Anaconda series. You can also expect more updates and race reports right here on the MFL website., so check back soon.

Grant with the #1 bib at the Anaconda Adventure Race start line, and then crossing the finish line the next day.

Easter Trading Hours 2011

It's that time of year again when the offices of MFL will be closed for public holidays.

Please be advised the office will be closed on the below dates and will re-open for business on Wednesday the 27th of April 2011.

Friday 22nd of April - Closed for Easter Friday

Saturday 23rd of April - Closed for Easter Saturday

Sunday 24th of April - Closed for Easter Sunday

Monday 25th of April - Closed for Easter Monday

Tuesday 26th of April - Closed for Anzac day * substitute for Monday 25 April

As a proudly Australian company, we are encouraging all our staff, clients and their families to help celebrate the achievements of our nation by supporting local events.

In Geelong, the ANZAC Day Parade will commence on Malop Street outside Office Works at 11.00am and proceed along Malop Street, left into Gheringhap Street and concludes in Johnstone Park for a Commemorative Service.

For other locations, and a full schedule of services and events please visit your local council's website.

The Management and Staff would like to wish all our customers and suppliers and their families a Safe and Happy Easter.

How high can the Aussie dollar go?

The soaring Australian dollar has been a hot topic over the past few weeks as it continues to loom over the USD. Last week our currency rose 3% to a 29 year high of 1.0584 USD. It was also the the best performer of all the G10 currencies, further strengthening the confidence in the global economic outlook.

Over in the US it looks like the federal government will continue with quantitative easing and therefore the American interest rates will most likely remain the same.

So how much higher can the the Aussie dollar go? At the end of last year, NAB economists predicted that the dollar could reach 1.07. Now, speculations go as far as 1.10 – but if that did happen it's likely the RBA would step in with further cash rate increases.

Other major factors which will be considered by the RBA when deciding cash rate rises will be unemployment and inflation. With the current economic growth, the already low unemployment rate is predicted to fall even further. As for inflation, forecasts suggest that it has bottomed out and is expected to accelerate slightly.

To sum it up, the recent NAB monthly outlook report sees the Aussie dollar trading between 1.00 and 1.10 for the next 6 months. As for interest rates, economists speculate the RBA will hold off on the rate hikes until later in the year.

In memory of Barbara Hyatt

Last month one of our dear clients passed away after fighting breast cancer for 10 years. Barbara Hyatt was the mother to Aaron and Damien, and wife of Jim Hyatt. In memory of their mother, the two brothers have organised a team to run in the Geelong Mother's Day Classic. The event is in its 13th year and is held Australia wide to raise money for breast cancer research. Several MFL staff has joined the team with many more looking to support via donation. To contribute, visit www.mothersdayclassic.com.au and search for Damien Hyatt. And remember, all donations above $2 are tax deductible.

RBA leaves rates on hold at 4.75%

At the monthly board meeting for the Reserve Bank of Australia, the committee decided to leave the cash rate unchanged at 4.75%. This is the fifth consecutive month without any increase of interest rates, and the news comes in as the Aussie dollar soars at US $1.04.

Governor Glenn Stevens explained the decision saying that inflation was currently held at bay with higher exchange rates which have balanced out the recent rises in utility prices. He also added that “the natural disasters over the summer have reduced output and the resumption of coal production in flooded areas is taking longer than initially expected.”

Surprisingly, the meeting minutes contained nearly no mention about the recent events in Japan or the disturbances in the middle east. This proves that the RBA is comfortable with their current path, and economists are speculating they may wait until July or August to make their next move.

Morris Finance Signs Nick Percat As Sports Ambassador

Morris Finance Ltd has signed Nick Percat as a sports ambassador for the 2011 season.

MFL is a national leader in commercial finance and leasing, and created its sports ambassador program to connect, support and enable people in the community.

As a sporting ambassador, Nick will share the message of excellence, health and fitness and Managing Director Nathan Murray said he is a perfect fit for the brand.

"Nick is hard working and extremely dedicated in the pursuit of his motor racing career,” said Murray.

“His professional attitude and commitment to success in his chosen sport reflect similar principles to Morris Finance.

“We are proud to share the sporting journey and welcome Nick to our brand.”

Nick joins Geelong AFL football player Billie Smedts, National adventure racer Grant Suckling and International marathon runner Lee Troop as the company’s sporting ambassadors.

“Morris Finance has great sporting and community programs and I’m really excited to work with them in my sports ambassador role,” said Nick.

“Motor racing is a team sport both on and off the track, and I’m really grateful to have their support for the rest of this season.”

Nick had a great start to his 2011 Fujitsu V8 Supercar Series campaign at the first round in Adelaide, claiming his first ever V8 Supercar pole position and winning the round.

With six rounds remaining, he holds a 27-point lead in the Fujitsu Championship.

Nick will be back behind the wheel of the #222 Coates Hire Racing Commodore for Round 2 at WA’s Barbagallo Raceway from April 29- May 1.

For more information on Morris Finance or its community involvement visit morrisfinance.com.au.

Follow Nick on Twitter: twitter.com/NickPercat

Follow Nick on Facebook: facebook.com/pages/Nick-Percat

Important Accounting Dates for April

With the extended Easter holidays and daylight savings, there are already many important dates to remember for the month of April. Below are all the key lodgement dates you'll need to remember this month:

21 Apr 2011

Activity statements
March 2011 monthly activity statements: final date for lodgment and payment.

Quarter 3 (January - March 2011) activity statements containing a monthly GST obligation: final date for lodgment and payment.

Quarter 3 (January - March 2011) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidated group.

28 Apr 2011

Activity statements
Quarter 3 (January - March 2011) activity statements: final date for lodgment and payment.

PAYG instalments
Quarter 3 (January - March 2011) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment.

GST instalments
Quarter 3 (January - March 2011) instalment notices – forms S and T. Final date for payment and, if varying the instalment amount, lodgment

Superannuation
Last day for superannuation guarantee contributions to be made to a superannuation provider for quarter 3 2010-11 (1 January - 31 March).

If an employer does not make the minimum superannuation guarantee contributions for quarter 3 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) with the ATO by 28 May 2011. The SGC is not tax deductible.

30 Apr 2011

Superannuation
Lost member report for the period 1 July 2010 to 31 December 2010.

For more information visit the ATO website.

Training update from MFL sports star Lee Troop

After a long career and three Olympic attempts, a few years ago I faced a tough question: continue running or retire? Although at the time I was facing some serious obstacles in my personal life, something in my stomach just said it wasn't time to stop. So, after some discussion with my wife we decided to move to Boulder, Colorado in 2009 where I had done some training in the past. The plan was to run two marathons I'd always wanted to do – Boston and New York, before returning to Australia.

Once I moved to Boulder, I was in a much better mental state and was once again enjoying running. I ran Boston Marathon, which proved to be an unbelievable experience, and it got me thinking about another Olympic attempt. However, once again what I call the “Troop” curse returned with more bad luck to interfere with my training. On a flight back to Australia to run the Sydney Marathon I developed a blood clot in my lung and was rushed to hospital with doctors fearing for my life. This lead to three months of NO running for the remainder of 2010.

Finally in 2011 things started to look up. At the start of the year I headed for a month long training camp at Falls Creek along with some of the country's best athletes. Feeling better about my training, I flew back to Boulder in February and have decided to run the London Marathon on April 17th. In preparation I also signed up for the New York City half marathon. I'd always wanted to run in New York but each time I was invited I had to withdraw with injury leaving me to feel destined I would never get to the big apple.

Nonetheless, I got myself to New York and after 20 years of international running it was one of life's great experiences with my performance going much better than expected - I ran the 21.1km race in 1hr 3min and 13sec to finish 20th overall. To be honest I have not had that “runners high” in a long time, and at 38 year of age I was over 15 years older than some of my competitors.

So despite all that I have gone through the last two years, this has made me realise that the feeling in my stomach that told me “to keep running” was right. I am lucky to still be able to do what I love, and next on the list is London Marathon. Stay tuned as I continue my preparation for next years Olympics!

MFL announce second sporting ambassador

Earlier this month, Morris Finance announced the first of their four sporting ambassadors, Lee Troop. Joining Lee, MFL has now also signed Australia’s number one adventure racer Grant Suckling.

Grant has achieved a lot since getting into adventure racing in 2006. He initially started out as a mountain biker and after the birth of his two daughters, needed a sport which was easier to fit into a busy family life. It was during this time that he took up running.

After a year of running Grant was looking for another challenge. Having always dreamed of paddling across the Bass Strait, Grant decided to pursue kayaking. With significant training and dedication, Grant successfully achieved his goal and crossed the strait in a single sea kayak.

With Grant's skills now spanning across riding, running and kayaking, adventure racing seemed a perfect fit. He quickly became recognised on the Australian adventure racing scene winning numerous races including Otway Odyssey, Mars Challenge and back to back wins at the Kathmandu Adventure race. This lead up to the highlight of his career when he won the 2010 Anaconda National Race series – arguably the most spectacular adventure race in Australia. This year, Grant has been selected as a “top flight” athlete for the 2011 edition of the race, part of a marketing initiative to support and promote high profile athletes of the sport.

Grant's ambition for the year is to win the series again and become the first athlete to win the Anaconda Adventure Race series back to back. Morris Finance is proud to support Grant's pursuit for success and we hope you enjoy reading about his triumphs on our website in the months to come.

MFL in the community - Geelong Falcons

As part our ongoing community involvement program Nathan Murray (Managing Director), Melanie Tink (Operations Manager) Jim Climpson (New Business Manager) and Abby Davis (News Business Specialist) travelled out to the home of the Geelong Falcons to meet their coaching staff, managers and players last night.

The Geelong Falcons compete in the national under 18 AFL TAC Cup competition and have produced some of the biggest names in the AFL including Gary Ablett, Cameron Ling, Jimmy Bartel, Luke Hodge, Jonathon Brown, Matthew Scarlett, Nick Maxwell and Shaun Higgins to name a few. The program is the breeding ground for junior AFL sport stars and the players learn their craft from a dedicated team of coaching staff, managers and high performance coaches.

Headed up by Region Manager Michael Turner the Geelong Falcons have three teams in their program competing in the under 15’s, under 16’s and under 18 AFL division. “We like to get the boys involved at a young age and groom them for the next step which is AFL football” “We have completed over $1,400,000.00 in renovations and upgrades to our existing facilities over the last couple of years so we can give the boys the facilities and coaches they required to reach their dreams of playing senior AFL football” Region Manager, Michael Turner said.

Since 1992, The Geelong Falcons have had in excess of 90 junior players drafted to AFL clubs earning them the mantle of the number one club in Australia at producing players for the AFL system.

“The beliefs of the Geelong Falcons are very similar to ours and it’s our pleasure to be associated with such a professional program to enhance the growth and skills of these young athletes” “We would like to thank Michael Turner and Ron Imanse for inviting us down into their inner sanctum of the program and wish them all the luck for the upcoming season” Nathan Murray, Managing Director said.

Morris Finance Ltd will be involved with the program this year and will be attending various games to see how the boys are going.

If you would like to find out more information on the program or follow the Geelong Falcons in 2011 please visit www.sportingpulse.com/club_info.cgi?client=1-3020-111704-0-0 .

Chinese cars enter the Australian market

You may have seen or even become accustomed to the Chinese brand Great Wall which has been carving out a space in the Australian car market since 2009. The Great Wall utilities with their low prices have proven to be very competitive against established brands.

With Great Wall paving the way, utilities from Futon and Jac have since hit the Australian street, with a long list of other manufacturers keen to follow in their footsteps.

So far, Chinese vehicles have been limited to utilities and SUV’S. This year, Chery Automotive will be the first Chinese car brand approved for release in Australia. Chery will offer two bargain priced models:

J1 – a small 5-door hatch at $11,990.00 drive away

J11 – a compact SUV at $19,990.00 drive away

The new brand has been met with skepticism and mixed reaction, mainly questioning the safety aspects of the cars. Most speculations are fueled by China’s history of cheap, poorly made gadget manufacturers – with consumers fearing the same low quality in the cars.

However, with the strict regulations and on-road safety requirements in Australian, how unsafe can it really be if it passed our legal framework? This is the question consumers will be asking when weighing up the benefits of low cost versus the uncertainty of a new Chinese brand.

Despite the consumer concerns, economists are still confident that China will become a major player in the Australian car market. Major importer David Crichton was quoted saying that “within 3 years, we’ll be seeing in excess of 20,000 Chinese vehicles between (his) two brands Great Wall and Chery.”

With vehicle finance as an important sector of our services, Morris Finance is closely following this development in the automotive market. Should you have any questions regarding vehicle finance related to these or other car makers feel free to contact us for more information.

Show me the Money

Last Thursday March the 3rd, Morris Finance MD Nathan Murray was a key speaker at the innovative VECCI event titled “Show me the money.” This mentoring initiative was put on primarily for small to medium business owners, apprentices and trainees to provide them with free information and guidance. And if free information from some of the best in the business wasn't enough, there were refreshments and movie vouchers up for all attending apprentices.

The event was held at the Geelong Football Club and featured six guest speakers including representatives from VECCI, Centrelink, Aurum Accounting and Yellow pages.

Key points from Nathan Murray's speech on the night included:

• The importance of maintaining timely payments to all financial commitments in order to avoid credit application issues in the future

• The importance of a credit file and how it works

• Things to be mindful of in their current financial situation

• The process to follow when applying for finance

• Tips for keeping commitments in order

At the end of the night, there was a Q&A period which proved very useful for the attendees. They were able to ask questions specific to their situation and in return the guests received valuable inside information to help them in their day to day business or employment responsibilities.

If you are interested in finding out more on this topic or for similar upcoming events, feel free to give us a call on (03) 5223 3453, or email info@morrisfinance.com.au.

Want to win $17,500.00 in prizes?

It's Football time again and as part of our ongoing marketing plan Morris Finance Ltd is sponsoring the Geelong Cats / AFL football tipping competition.

The official tipping game of the AFL is bigger and better than ever, with INSIDE WORD, TIPSTERS' CHOICE, a new competition and some returning favorites. Get on a STREAK, play GAUNTLET, PICK 5 winners every week, or win the big one as the overall season winner.

There's $17,500 worth of prizes up for grabs across the season, including an early registration prize.

Entry is FREE, so register now and you could win $500 cash, just for signing up.

To enter please use the below link to the Geelong Cats website and click on the Morris Finance icon at the top of the home page.

www.geelongcats.com.au

Or click here to visit the direct link to the competition.

Good luck and may your team give you the enjoyment you deserve in 2011.

Important Accounting Dates for March

March is an easy month for book keepers with just one key lodgement date to remember!

21 Mar 2011

Activity statements

February 2011 monthly activity statements: final date for lodgment and payment.

For more information visit the ATO website.

RBA leaves cash rate at 4.75%

At the monthly board meeting in Sydney, the RBA board decided to leave the cash rate unchanged at 4.75% - a decision that was widely predicted.

Governor Glenn Stevens said inflation was well within average trend and was expected to stay there for the time being. He also mentioned that production is expected to recover in the next few months, easing some of the inflated prices. In he meantime, demand is forecasted to increase as the rebuilding efforts begin throughout Australia.

For more information, visit rba.gov.au.

The opportunities and challenges of taking your business online.

With internet so readily available these days, it's safe to say that most, if not all business owners have thought about how to tap into the world of online consumers. Luckily, the government has also realised the huge potential of digital business. They have even created digitabusiness.gov.au – a website full of resources for businesses tackling the online environment. We have used this website to address the key topic - revenue.

Opportunity:

Increase revenue

Whether you're thinking of starting completely online businesses, or expanding your tradition 'bricks and mortar' operation to include digital, revenue is a key motivation. After all, the e-commerce market in Australia was estimates at $26.86 billion in 2010, making up 3% of household expenditure. There is no doubt that these figures will only continue to grow. Therefore, the next question is how to make your products and services relevant online in order to generate additional revenue.

How?

Attract new customers: Creating an online presence for your business through a website or social media page makes it visible to people who would otherwise have no way of finding it. Plus, being online makes it easier for your existing customers to recommend your services to their friends.

Sell more to existing customers: Most business already have some sort of database of their existing customer base. Going online makes it easy to use this database to communicate regularly with your clients. You can make them aware of new products/services and educate them about the benefits of your other offerings which they may not have previously considered.

Expand customer base: The beauty of digital is that you are not limited to your geographic location. Online has proven very helpful for those living in regional areas allowing them to have a wider selection of products than what is locally available.

Challenges:

Initial investment: Unfortunately, many businesses still believe that you can take your business online for dirt cheap and miraculously multiply your profits. Consider your digital operation like another storefront or location. It needs to have the same presence and professional qualities as the bricks and mortar counterpart. Therefore, ensure you have enough financial and human resources before you expand into digital.

Risk: There is always a risk when you invest to expand your business. Going digital is no different. Before starting, make sure you have a business plan outlining your objectives and projected revenue so can measure your progress.

Logistics: Anyone selling physical products online will find that delivering their goods to customers within australian and overseas can present many challenges. Make sure you do your research on freight and postal companies and check out other websites to see how they've tackled it.

At Morris Finance, we are committed to continually expand our online operation and increasing convenience for our clients. We appreciate all feedback and welcome suggestions for anything you would like to see on our site. If you are considering investing into an online business venture, give us a call and we'll be happy to help answer any questions based on our own experience.

10 ways to a healthier work day.

Drink at least 8 glasses of water a day.

Although coffee, sodas and energy drinks help you stay awake, they are also cause you to lose water leading to dehydration. Symptoms of not drinking enough water include headaches, stomachaches and lower back pain.
To ensure you drink your 8 glasses a day, keep a bottle of water on your desk and keep drinking throughout the day.

Find fresh snacks that last.

The difficult thing about healthy snacks is that unlike mini mars bars or biscuits they won't last long in your desk drawer. Although having access to a fridge at work will help keep snacks fresh, it also requires a trip to the kitchen past the many other unhealthy temptations on the counter. So here are some ideas for healthy snacks you can keep at your desk:

raw nuts (keep just a handful so you don't over indulge)
uncut fresh fruit
whole grain cereal
protein powder (just add water to keep you full until the next meal)

Cheat.

No one is perfect, and a little bit of naughty snacks will keep you sane – the key is moderation. Since there is always at least one temptation every day, choose the amount of “cheats” you have a week. So if that birthday cake comes around, and you choose to cheat, you can really enjoy and appreciate it. But when you're done, walk away - no half pieces or little bites.

Outings & Events.

At client lunches, work parties and other events “naughty” food can seem unavoidable. The key is not to “write off” the day completely. Instead, eat something beforehand so the cheese plate doesn't have such a magnetic pull. Choose healthy sides instead of fries and use up one of your weekly 'cheats' for the naughty stuff. Keeping a glass of water in your hands will help you feel full, hydrated and keep your hands from wandering into the snack bowl.

Bring in lunch AND breakfast.

Although it's common to pack lunch, especially if your office in't next door to cafes and shops, bringing breakfast is more rare. Many people don't get time for breakfast, instead picking up a muffin or donut with coffee sometime during the morning. Not eating breakfast slows down your metabolism; and easy solutions is to bring in some milk or yogurt and a box of whole grain cereal for the week.

Get out of the office.

Sitting behind a desk all day is draining both mentally and physically, leaving you feeling stiff and sluggish. Getting out of the office, even for a short walk around the building at lunch, could do a lot for your mental capability and physical health.

Get up and move regularly.

No matter how ergonomic your chair or keyboard is, nothing is as beneficial for your body as regular movement. Sitting all day leads to reduced productivity, lack of attention and weight gain. Take every chance, no matter how small, to stand up and move:

instead of emailing a coworker three cubicles down, walk over and talk to them
volunteer to walk across the street for the coffee run
take the stairs! If there are too many to take all at once, just walk a couple of floors before hopping in the elevator

Take care of your eyes.

Although sitting in front of your computer takes a toll on your body, it also strains your eyes. However its easy to build habits which avoid eye fatigue:

reduce the brightness and glare of your screen, instead bumping up the contrast to compensate
when you are thinking, or on the phone, get in the habit of looking into the distance to give your eyes a chance to relax.
if you can, change the direction of your overhead lights to reduce glare on the screen, and switch to less bright lights

Get your colleagues involved.

Everything's harder when you feel you're doing it on your own, so get others on board. Grab a team mate for a brink lunch walk or even a stroll around the shops. Sign your company up to a fun walk, run or ride. Make it a team goal and even get some internal company prizes to encourage participation.

Health & Hygiene

Eating fresh foods will boost your vitamin levels and strengthen your immune system. Furthermore, to help you stay healthy when the bug starts going around the office, make sure you keep a hand sanitiser around your desk, wash your hands and your fruit.

New MFL Television Ads

In a continued effort to expand our marketing, Morris Finance has launched a series of TV ads. There are four commercials in total, advertising the various services of the business. They are currently airing on Southern Cross 10 and One HD in regional Victoria.

In case you don't catch then on TV, we've provided the ads below for you to have a look.

Heavy Equipment

Office Equipment

Vehicle Finance

MFL announce new sporting Ambassador

MFL announce Marathon Star Lee Troop as their new sporting ambassador for 2011 and 2012.

Morris Finance is very proud to announce their new ambassador; Geelong born Olympic Marathon runner Lee Troop. The new partnership is an extension of several sports related partnerships which MFL will be developing this year.

Lee's running career has developed over the past 18 years, seeing him compete in 3 Olympic Games, and numerous Commonwealth Games. He is currently in America training for his 4th Olympic Games and is looking forward to representing Morris Finance at the 2012 London Olympics.

Having started out in Geelong, and having worked extremely hard to achieve national and international success, Lee Troop agrees the new partnership is a good fit, with both parties sharing similar values and goals.

“It is exciting to be involved with a local company that is a national leader in their field and is unrivaled with their professionalism and business ethics".

"Over the last 18 years of my national and international running career, I have made sure that as a role model and community leader that I too follow similar principles to Morris Finance. There are 7 key attributes that I follow each day to not only get the most out of myself, but to also provide for the community and they are:

"Honesty, Hard Work, Commitment, Dedication, Patience, Persistence and Enjoyment.”

- Lee Troop

Lee's passion for running extends beyond the track. He has recently started a successful marathon training website which has gained sponsorship from the likes of Asics and Blackmores. The website will also be the official training partner to this year's Sydney marathon.

You can check it our at www.marathon-trainingschedule.com

As a MFL reader and client, you will be able to follow Lee's training and events through our blog where Lee will be contributing bi monthly updates. You may also see Lee at some MFL sponsored community events in 2011 and 2012.

Top 10 Gadgets of 2011

Every year at the Consumer Electronics Show (CES) in Las Vegas, new electronic toys are unveiled. Out of the hundreds of new inventions or product evolutions exhibited at the show, we’ve narrowed it down to the top 10 gadgets to add to your “want” list:

1. Motorola Xoom
The iPad may have temporarily dominated the tabled sector, but it now has some serious competition. In order to rival Apple, the Motorolla Xoom tablet had to be superior in both software and hardware. And superior it is. The Xoom features a bigger 10.1-inch display with a higher 1280×800 pixel resolution. Inside there’s a dual-core processor; 32GB of storage, an SD card expansion slot; plus 5MP and 2MP front and rear cameras. What does this mean? iPad2 must be on the horizon, or Apple risks Motorolla winning the “best pad” claim.

2. Pioneer SmartCradle
An iPod cradle for your car is no new invention. For years, manufacturers have been releasing new gadgets in this category, but until now most focused on aesthetics. Finally, a reputable brand has entered the market and shifted the focus to quality. The Pioneer cradle boosts GPS signals, helping out with navigation apps and any other app that uses the GPS function.

3. Casio Wireless Watch
This is definitely a gadget lover’s watch. Using Bluetooth, it shares data with your smartphone such as names of incoming callers, email addresses, text message alerts and alarms. Double tap the face to mute your phone, or use it to find the phone within a 5 meter range.

4. Samsung Sliding Series 7
The CES was full of tablets. And while the Motorola Xoom might have taken on iPad, Samsumg leading in innovation. The gadget runs on Windows 7 and works on touch as a tablet. The innovative part is a slim QWERTY keyboard that slides out from underneath, further blurring the line between pads and laptops.

5. Motorola Atrix
Top of the line smartphones are heading to dual core processing, with Atrix leading the way and Motorolla claiming “it is the most powerful smartphone in the world.”
The gadget features a 1Ghz processor, 1GB of RAM, 15GB of storage capacity and a four-finch qHD display. It even comes with a fingerprint recogniser.
But even the non-the minded will appreciate this feature: the Atrix plugs into a dock, allowing you to connect it to a desktop and use as a computer.

6. LG 31-inch OLED TV
LG introduces the world’s slimmest TV. Although its still a prototype, this is the future of televisions. The OLED is only 2.9mm thick with 1920x1080 HD resolution and in-build 3D functionality. With an extra wide viewing angle, you can savour the crystal clear picture from just about anywhere.

7. Sony OLED 3D headset
Every year, the CES features some gadgets that are simply out of this world. Like this Sony Headset which looks like it’s straight out of the next Star Trek generation. All jokes aside, it’s packed with incredible technology: HD resolution, two 3D OLED displays and surround sound. It might just be the world’s smallest private cinema.

8. Razer Switchblade
Although the Razer Switchblade is also just a concept at this stage, it’s one that seems so obvious. The Razer is a hybrid between the Nintendo DS and the Optimus keyboard in that it replaces a keyboard with customisable touch screens. By default, the key screens display a standard QWERTY board, users can simply replace the individual key screens with their favourite shortcuts.

9. Sony Bloggie 3D
By now, you can tell that the CES is all about products claiming to be the “world’s best/smallest/biggest/thinnest” etc. The Bloggie is no exception. It is the world’s first HD 3D pocket camera. Outfitted with two image sensors, two lenses and stereo mic, it’s all you need to get started in 3D movie making. And although there were other 3D camcorders at the show, this one is will be the more affordable and therefore the more popular option.

10. Samsung SmartTouch Remote
Smart TVs have been all the rage at the CES, and they need a smart remote. Samsung’s versions is designed to make it easy to control the multitude of TV functions such as video streaming, internet browsing and other features from anywhere within the wireless range. Since it’s a touch screen the size of an iphone, the gadget doubles as a small TV, so you can continue watching your show if you leave the room or even change the channel.

RBA leaves rates on hold at 4.75%

At their first meeting of 2011, the RBA decided to leave the cash rate unchanged. Rates will remain at 4.75% where they have been since the start of November.

Governor Glenn Stevens cited the “temporary adverse effect” of the Queensland floods as the reason for keeping inflation at bay. However, economists are predicting a series of hikes later on in the year.

For more information, visit www.rba.gov.au.

Important Accounting Dates for February

Following a relatively "deadline-free" month in January, this month has quite a few key dates to remember. Below is an outline of lodgment dates as per the ATO website:

21 Feb 2011

Activity Statements
January 2011 monthly activity statements: final date for lodgment and payment.

28 Feb 2011

Superannuation

Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) (if required contributions were not made by the due date) for quarter 2 2010-11 (1 October - 31 December).

The SGC is not tax deductible.

Activity Statements

Quarter 2 (October - December 2010) activity statements: final date for lodgment and payment, including electronic lodgments.

GST

Annual GST return (option 3) or Annual GST information report (option 2): final date for lodgment and payment (if required) if you do not have an income tax return lodgment obligation.

PAYG instalments

Quarter 2 (October - December 2010) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment.

GST instalments

Quarter 2 (October – December 2010) instalment notices – forms S and T. Final date for payment and, if varying the instalment amount, lodgment.

Four-instalment payers to pay a further 25% of their instalment liability.

Income tax

Income tax return lodgment and payment due date for self-preparing entities that were not due at an earlier date.

Income tax return lodgment and payment due date for large/medium business taxpayers and self-managed superannuation funds (taxable and non-taxable) that are new registrations.

Income tax return lodgment due date for large/medium business trust clients that were non-taxable in the prior year (includes new registrants).

MFL Sign on with the Geelong Cats

As part of our first major sponsorship of a national sporting organisation, Morris Finance Ltd has signed a two year agreement to sponsor the Geelong Cats who complete in the Australian Football League (AFL).

“Being a Geelong based company it is only natural for our company to support teams in our home town, a place we are very proud of,“ said Nathan Murray, Managing Director – Morris Finance Ltd.

"The Geelong Cats are a great fit for our brand and are a national team with only 50% of the Geelong Cats members are based in Geelong. MFL is also a national brand and we want to reach out to that base as only 10% of our clients are from Geelong region," he added.

Established in 1859, the Geelong Cats are the second oldest team in the AFL and represent respect, precision, adventurous, conviction, unity and commercial.

Over the past six years the Geelong Cats have broken many records and have been very successful winning two premierships in 2007 and 2009.

The sponsorship will concentrate on online marketing and will include the below key features:

• Digital Presence on the Geelong Cats Home page

• Sponsor of Cats TV on the Geelong Cats Website

• Sponsor of the Geelong Cats National Tipping Competition

• Sponsor of the Geelong Cats number one draft pick – Billy Smedts

• Venue Digital Signage on match days

The new agreement will also see MFL attend home games at Skilled Stadium on match days. The company will use this as an opporunity to get to know clients and Geelong Cats members to see how they can assist them with the ever increasing new products and services that MFL offer.

The MFL online presence will kick off in mid February 2011 and if you wish to view any of the above please visit www.geelongcats.com.au.

Audi Race Week

Morris Finance Ltd has signed on as Class Sponsor and Event Partner for the 2011 Audi Victoria week. The event commences in Geelong, Victoria at the Royal Geelong Yacht Club from the 20th of January 2011.

Audi Victoria Week is Australia's largest sailing event, first being held in 1844 and officially established in 1859. It is also one of the nation's oldest sporting events. Officials are expecting over 450 yachts, 4500 competitors and over 100,000 visitors from Australia and abroad for the six day event.

The partnership includes the naming rights of the Sydney 38 One Design category and will be known as the “Morris Finance Sydney 38 One Design Class Series.”

Audi Victoria Week is the ‘Melbourne Cup’ of the sailing world with seriously fast racing, a gala-like atmosphere and an abundance of waterfront activities and entertainment. It is a ‘must do’ event and the place to be in January.

The event is also close-to-heart for all at Morris Finance, with company CEO Ian Murray scheduled to compete in the Morris Finance Sydney 38 One Design Class Series aboard his yacht Cinquante. After winning last year’s event Ian is looking for another strong year in 2011.

If you would like to come aboard and meet the crew please do so on any of the six days and you may even get a chance to experience what it is like to sail one of these racing yachts.

The first race for the crew is on Saturday the 22nd of January.

National Flood Update

Over the past couple of weeks we have witnessed some of the worst flooding Australia has ever seen. This has affected residents in Queensland, News South Wales and now Victoria.

Morris Finance has a number of brokers, clients and suppliers in the affected regions and we would like to reach out to them.

Over the past couple of days Morris Finance Ltd has put together a flood committee to work with our brokers, clients and supplier’s to form solutions and assistance to assist you move forward and begin the rebuilding process. The Committee consists of key personnel that deal with a number of our brokers, clients and suppliers on a daily basis and we hope that this will help you with the recovery process.

The committee consists of:

Glynn Saddler - Legal and Asset Manager - glynn@morrisfinance.com.au

Jim Climpson – New Business Manager – jim@morrisfinance.com.au

Kon Likoudis – Broker Development Manager – kon@morrisfinance.com.au

Simon Sweetten – Account Manager – simon@morrisfinance.com.au

If you have any questions at all please direct them to one of the above personnel and they will only be too happy to assist you with your enquiry.

To assist you in the short term Morris Finance Ltd will:

Waiving fees and charges for late payments and contract amendments to clients in the affected postcodes for the next 28 days

Supplying copies of contracts and insurance details to clients and suppliers in affected postcodes free of charge for the next 28 days

Put you in touch with your broker, supplier and insurance company to make enquiries about your contract and insurance policy details

Restructure your contract to assist you with an initial three month minimum payment period to help you get back on your feet to clients and suppliers in the affected postcodes for the next 28 days

Assist with the rewriting of contracts, inspections and waiving of all application fees and establishment fees to clients in the affected postcodes for the next 28 days

Refinance of items that you have claimed on insurance policies

Provide you with emergency numbers in each state to relevant bodies and organisations

Extended Trading hours to help assist with your enquiries

If you require any information please use our toll free number 1300 4 MORRIS.

New MFL Radio Ads

Last year, you may have read about the new avenues of marketing which Morris Finance planned to pursue in 2011. Now, three weeks into the year, our objectives are becoming a reality.

Morris Finance has kicked off the year with a series of brand new radio commercials. Featuring a custom, branded music sequence the ads talk about all areas of our business from equipment & machinery leasing to business finance.

Below are the 4 MFL radio ads for you to preview so you know what to listen for on the radio:

AD 1

AD 2

AD 3

AD 4

The next stage of the 2011 marketing and branding effort will be the launching of our TV commercials. The commercials have been filmed and are scheduled to be on air at the end of January. Keep watching our blog for previews and details on where you can see them.

Queensland Floods

In a week that has seen unprecedented destruction to many parts of Queensland, our thoughts go out to everyone affected by the devastating floods.

For the last month, Queensland residents have been battling with severe storms and flooding. Until recently, affected areas were mostly in far north Queensland. However, this week the waters drifted south first affecting Toowoomba and then hitting Brisbane.

Unprepared residents were left fighting for their lives when walls of water, or “Inland Tsunamis”, surged through the city street. So far, 10 lives have been claimed, and over 75 people are still missing. Waters of the Brisbane Rivers are expected to continue rising. Over 6500 homes have been advised to evacuate as the floods spread into the heart of the city.

Morris Finance would like to reach out to our clients and suppliers in the region. Although we haven't had any issues yet, our staff members are closely monitoring the situation and communicating with clients and suppliers in the affected areas.

Should you require any information please find emergency numbers below to assist you:

• SES: 132 500

• Disaster Recovery Hotline: 1800 173 349

• Centrelink: 180 22 66

• Insurance Council of Australia: 1300 728 228

• General enquiries and assistance: 13 QGOV (13 74 68)

So far Australia has raised over $32,300,000.00 to help support the residents of Queensland and more money is needed. You can help make a difference by donating to the Premier’s Flood Relief Appeal, every donation, small or large counts.

1800 219 028
Open: 0600 – 2300 7 days The account details for the Premiers Disaster Relief Appeal are:

Account Name: Premier’s Disaster Relief Appeal
BSB: 064 013
Account number: 1000 6800
SWIFT code for international donations: CTBAAU2S

Should you require any information, or have any concerns regarding the floods, please contact Glynn Sadler or Simon Sweetten at our head office on (03) 5223 3453 or free call 1300 4 Morris (1300 466 774).

New Year - New Laws for Business in 2011

This week, most Australians will have returned to work, and businesses will be buzzing as usual. However, while you were away celebrating the holidays and welcoming the New Year, the Government has been busy welcoming in new laws and regulations. There are many new changes that will affect businesses and individuals as of January 1st 2011. Below are the key changes for SME's:

Paid Parental Leave:

They new government funded paid maternity/parental leave scheme is now a reality. There are already 6,500 workers and over 1000 businesses registered for the scheme. Summary of how it works:

• Is for eligible working parents of children born or adopted on or after 1 January 2011

• Can be transferred to the other parent

• Is paid at the National Minimum Wage - currently $570 a week before tax

• Employer is responsible for paying superannuation fees on top of the government amount

• 18 weeks and can be taken any time within the first year after birth

• Employee can take maximum of 2 years (everything after 18 weeks is unpaid)

For more information visit Family Assist website.

Consumer Laws:

There were major changes to the consumer laws that came into effect at the start of this financial year on July 1st 2010. This first phase was focused mainly on unfair contracts and employer rights. The second phase of these changes is now in effect as of January 1st 2011. This phase is aimed at protecting consumer rights with alterations to warranties, direct selling and consumer guarantees. Key changes from this phase include:

• Stricter laws ensuring product product/service performance matches any marketing descriptions or demonstrations

• Suppliers must ensure that goods are free of any hidden securities or charges

• Stores must refund items if faulty or unfit even if bough on sale. Therefore “no refund” store policies will need to be revised accordingly

• Mandatory 10 day cooling off period for all unsolicited selling (telemarketing or door to door). During this time seller is not allowed to accept payment or supply the services/ goods.

Modern Awards:

On January 1st 2011, the next phase of transitioning to the new federal awards system began. This involves hospitality and child care industries as well as a range of other workers currently on state awards. If your business is among the affected industries, make sure you make any necessary changes quickly as Fair Work Ombudsman will be targeting compliance in this area. Visit Fair Work online for more information.

Auto Industry goes Green:

The start of this year marks the beginning of Gillard Government’s $3.4 billion Automotive Transformation Scheme. Over the next decade it will transform the industry to be more economically and environmentally sustainable by encouraging investment in research and development of innovative engines and motor vehicles.

Apprentices Income Bonus:

From 1 January, eligible apprentices will receive a $1700 funding increase through the Australian Apprenticeships Incentives Program. These Tools for Your Trade funding consists of five tax-free cash payments provided to support the costs of training, purchases of relevant tools, and other costs associated with their Australian Apprenticeship.

New Credit Protection:

As of 1 January 2011, lenders must have a Credit License to continue providing credit.
As part of the evolving consumer credit laws changes, the license offers increased protection for Australians. Registered lenders are bound by strict obligations, ensuring that consumers can't sign up for debt they can't afford. The new license is through ASIC, which also means it will be cheaper for consumers to resolve disputes about credit.

Morris Finance has already registered for the new Credit License, and you will be able to see the membership details on our website as soon as they are available. As always, we put customer relationships first, and the new accreditation will allow us to continue providing the best service.

Important Accounting Dates for January

Getting back from holidays and starting the new year also means getting back to a schedule. Below are the key accounting dates for January to start your year on the right track with the ATO.

15 Jan 2011

Income tax

Due date for lodgment of income tax returns for companies, superannuation funds and trusts that were taxable large/medium business clients in the prior year and are not required to lodge earlier.

21 Jan 2011

Activity statements

December 2010 monthly activity statements: final date for lodgment and payment.

Quarter 2 (October - December 2010) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidated group.

Quarter 2 (October - December 2010) activity statements containing a monthly GST obligation: final date for lodgment and payment.

28 Jan 2011

Superannuation

Last day for superannuation guarantee contributions to be made to a superannuation provider for quarter 2 2010-11 (1 October - 31 December).

If an employer does not make the minimum superannuation guarantee contributions for quarter 2 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) with the ATO by 28 February 2011. The SGC is not tax deductible.

For more information, click here to visit the ATO wbsite.

Holiday Trading Hours

Morris Finance Ltd Management and Staff would like to wish all our clients and suppliers a Happy New Year and we hope you enjoyed the festive season.

We would like to advise our trading hours have resumed as per normal and you can contact us from 8.30am to 5.00pm Monday to Friday.

If you have an inquiry or would like to talk with one of our staff please contact our main switchboard on 03 5223 3453.

We are looking forward to dealing with you again in 2011.

Merry Christmas

The Management and Staff at Morris Finance Ltd would like to wish you and your family a Happy and Safe Christmas Day.

We extend our best wishes to you for the Holiday Season, and the upcoming New Year.

Morris Finance Ltd is excited about a bigger and brighter 2011, and we look forward to dealing with you in the coming year.

Merry Christmas.

Australian Markets

As the focus shifts to family and the festive season during this time of year, it’s easy to lose sight of activity in the markets. The below report aims to provide a brief overview of recent market activity to get you up to speed before the holiday break.

Credit Markets

Last month looked promising in its early days, yet ended up being a big disappointment for local and international markets alike. The global markets are still recovering from instability of the recent sovereign debt crises and remain volatile. Although the EU has announced a new bailout package called the “European Stability Mechanism”, this wasn't enough to calm the fears of investors.
On the domestic front things were less gloomy last month, with issuance up very slightly from October. However, there was nothing to celebrate considering the figures are still significantly lower than September, August and corresponding months of previous years.

Interest Rates

The last action on the interest rates front was the 25 bps lift on November 2nd of this year. This put the cash rate at tighter than average levels, giving the RBA some time before the next move. Following the raise, economic data showed softer than expected results, especially when contrast with the tighter than usual cash rate policy. Additionally, there has been some speculation that the RBA didn't expect the magnitude of mortgage rate rises which followed their latest increase.

Looking Ahead

As global growth risks decline and sovereign economic fears subside, a gradual upward trend in inflation is expected. With inflation still being a major factor in decisions regarding interest rates, RBA has suggested a “medium term increase.” NAB economists are predicting that the cash rate will rise another 50bps, but say we won't see the next increate until approximately May 2011.

On a larger scale, the Budget is fulfilling forecasts and is expected to return to a surplus in 2012-2013. Until then, the GDP remains at -3.0% with a deficit of $41.4 bn AUD for the current financial year.

Morris Finance is looking forward to a new calendar year and the latter half of the current financial year. We have some exciting developments coming up in 2011, and expect to keep very busy as usual. Once again, we wish all our clients and suppliers a happy holiday season and encourage you to contact our head office should you have any questions.

Australia's Green Grand Prix

Last month Maryborough held the 20th annual RACV Energy Breakthrough Challenge. Also known as Australia's "Green Grand Prix" it is the premier science, technology and environment event for local and international schools. It was created in 1991 by the Country Education Project as a way to get students interested and excited about sustainable transport, science and technology.

The program is a year long journey for students from primary grades through year 12 to build human powered vehicles (HPV) and compete in a series of events. It pushes participants to research and use the latest technology while taking into consideration its impact on the environment. 20 years ago, the event began with just 23 teams, each consisting of at least 6 current students. This year, there were 318 entries including teams from Italy, Norway and Canada.

Among the entrants was The Peninsula School from Mt. Eliza in Victoria, who had two junior teams of year 6 boys and girls. Morris Finance sponsored this school to provide funding necessary for building materials, uniforms and entrance fees. The students worked all year to design and build a human powered vehicle, in preparation for the 14 hours relay race in Maryborough last month. On the bid day, the school competed against 78 cars, with team Mistral placing 8th and Sirocco placing 18th.

Morris Finance was a proud sponsor on the day, and was provided with some photos form the team.

For more information on the Energy Breakthrough Challenge, or if you are involved in an innovative event you think we should know about, feel free to contact our Business Development Team on (03) 5223 3453.

RBA Leaves Rates Unchanges at 4.75%

Following its monthly board meeting today, the RBA announced that the cash rate will remain unchanged at 4.75%

This month, concerns regarding a number of struggling European nations have once again floated to the surface. Moving on to other continents, Chinese and Indian economies are still pushing full steam ahead while the American economy has only seen modest growth.

The exchange rate continues to be at record highs, which should help to contain pressures on inflation. The board predicts there will be little change in inflation short term, and slight growth medium term if economy continues to grow as expected.

Finally, the RBA’s decision to leave the rates unchanged at 4.75% is also due to the fact that current lending rates across the country are slightly above average. This shouldn’t come as a surprise especially after last month’s raise and the subsequent rate hikes by major banks.

Morris Finance joins AELA

Morris Finance is now a proud member of the Australian Equipment Lessors Association (AELA). This new partnership follows the recent Annual Plant & Equipment Leasing Conference which was attended by Nathan Murray, Ian Murary and Kon Likoudis of MFL.

AELA is the largest national association for the equipment and financing leasing industry. It comprises of over 100 members, including banks, finance companies, merchant banks, general financiers. Membership is corporate, and the association oversees more than 90% of leasing activity in Australia.

When you consider that 40% of Australia's capital expenditure in the equipment sector is facilitated through finance, its no surprise that the industry is vital to Australia's productive base. AELA was formed in 1986 in order to deal with concerns specific to the equipment industry, rather that broader finance concerns. To this day, the main focus of the organisation is to provide a forum which deals with all matters relating to the lease and equipment finance industry, including regulations and market structure.

Gaining membership to this national organisation is part of our continued effort to expand our involvement across the various industry sectors in which we do business.

For other memberships and affiliations, please visit our Associations page or contact our head office on (03) 5223 3453.

Important Accounting Dates for December

Most of your "dates to remember" this month will revolve around the holiday season. Luckily, there are only two important days in terms of keeping your business compliant in December.

01 Dec 2010

Income tax

Income tax payment due date for companies and superannuation funds that were taxable large/medium business clients in the immediate prior year.

Income tax payment due date for companies and superannuation funds that were required to lodge by 31 October 2010.

Superannuation

Payment of income tax for superannuation funds where one or more prior-year income tax returns are outstanding as at 30 June 2010. (Lodgment of return was due 31 October 2010.)

21 Dec 2010

Activity statements

November 2010 monthly activity statements: final date for lodgment and payment.

Speed Networking Success.

On Tuesday night, Morris Finance sponsored and attended the first event of the VECCI Fast Forward Networking series.

Held at the Royal Geelong Hospital, this was a “speed dating” style event. Attendees had three minutes with each other to swap business information and promote themselves before the buzzer went and everyone rotated.

The event was hosted by James Gulli – VECCI's regional manager for Geelong and Western District. Our own Abby Davis and Jim Climpson participated in the event, while Melanie Tink worked hard behind the scenes to assist VECCI in organising the night.

The event was attended by representatives of 48 different business including:

JT Dixon Geelong, Direct Storage Systems, New Dry Carpet Cleaning, Snap Printing Geelong, Fox Digital Web, Steam Matic, G Force Recruitment, Subway Geelong, ARB 4 x 4, Surety Accountants, Pulse FM and Sensis Yellow Pages to name a few.

Food and beverages were served throughout the night, and it turned out to be a fun, productive and exciting event. Nathan and Ian Murray were encouraging the participants to make the most of it, handing out spot prizes to the most enthusiastic attendees.

At the end of the event, it was unanimous that the night was a success. The Fast Forward series will now become a regular 6 monthly event with VECCI currently working to expand it to Colac and Warrnambool.

If you missed out, keep an eye on our website for news of the next series and other networking opportunities. After all, setting up connections in your local area is an important ingredient to growing your business.

Join Us on the Green!

Once again, Morris Finance has signed on as a major sponsor for the 13th Annual VECCI / Barwon Health Charity Golf Day at Thirteenth Beach.

For the past 12 years, VECCI has run the Annual Charity Golf day to raise money for the community while providing a fun, social networking environment for the members, sponsors and participants.

The Details:

Date: Friday 18th February 2011
Venue: 13th Beach Golf Links
Tee Off: 12.00pm
Prizes: Selected Hole prizes, teams awards and novelties
Refreshments: BBQ Tea & Drinks served during the day and after game function
Networking: After Game function concludes 7pm

Contact Us for the Registration Form.

The Cause:

This year, proceeds will assist The Geelong Hospital Appeal in Stage 2 of redeveloping the Children’s Ward of the hospital.

The redevelopment is a 4 stage, 8 Million dollar project that is a partnership between Barwon Health and the Community. Total Development will include:

• Children’s Oncology Treatment Room
• Upgraded Playroom, Parents retreat
• Ensuites to all rooms and improved treatment areas
• High Dependency Room

Stage 1 was completed in Aug 2010 at a cost of $1.25 million. It was completely funded by community donations the hospital is aiming for the same result for Stage 2.

The MFL Hole-in-One

Morris Finance is sponsoring a Hole-in-One Competition with the prize of a brand new Holden Spark 5 Door Hatch. All you have to do is play on our designated hole, and if you sink the ball on your first shot, the Holden is yours! We encourage all participants to try as many times as they want – as all money goes to charity.

Feel free to contact our staff to register or find out more about the event and join Jim Climpson, Kon Likoudis, Simon Sweetten and Nathan Murray on the day.

The MFL promotional team will also be on site at the event and look forward to seeing your best shot!

Top 10 Networking Tips

The possibilities for business networking are becoming more and more diverse. From formal events to casual breakfasts, organised networking events can be a great way to meet new associates, source new business and build your contact and resource list.

Next week, Morris Finance is sponsoring the VECCI speed networking event in Geelong. Since many of our readers, clients and staff have already registered, below are some top tips for making the most of this anticipated event.

TOP 10 Networking Tips:

1. Find out all event details: knowing the time frame, structure and main purpose of the event will help you present yourself appropriately, and prepare you for what to expect. Keep in mind that many events are based on learning, making contacts and even volunteering rather than strictly establishing new business connections.

2. Business cards: bring more than you think you will need. Also, it is useful to have one pocket for your own cards, and another for cards you collect during the event. This stops you from rummaging through others' cards to find your own.

3. Remember the face which goes with the card: when someone hands you a card, read it aloud. It will help you remember the person, and will seem to them that you are genuinely interested.

4. Make notes: Use the back of the card to make any notes. This will help you remember individuals at the event, and will be a useful refresher should you need to contact them months down the track. It helps if the back of the card is matte and a light colour (perhaps something to consider for your own card design.)

5. The art of open-ended questions: People love to talk about what they do. By asking questions which can't be answered with “yes” or “no” you start a conversation and show the other person you are interested in them. Stay conscious of your questions, and begin with words like who, what, where and when.

6. Listen first: don't be in a hurry to rattle off your pitch. By letting the other person speak first, you can see if you have any common ground. It may give you a more natural, and compelling way to introduce your company into the conversation or give an example of what you do.

7. Know what you are looking for: have a prepared answer when someone asks “How can I help you.” Too often, we focus on what we offer others and forget to think about what others can offer us. This can be anything from sponsorships, partnerships, cross marketing opportunities etc.

8. The Elevator Pitch: this is a 60 second description which outlines what you do in simple language. Explain your product/service, market, how you make money and why you are better than your competition. It's important to be natural, passionate and ask for an email where you can send them more information. When practiced, this can be extremely effective for speed networking or longer events, as well impromptu opportunities during your daily business interaction.

9. Be direct: if you feel that you've sparked a great connection, act on it right then and there before it fizzles out. Don't be afraid to suggest a further meeting and propose a time and date.

10. Follow up: don't delay following up with all those who may benefit from what you do and others who may be a resource for you. It is especially important to quickly follow up on any referrals which may have been suggested.

Above all, don't forget that all networking events are about being genuine, finding ways to help others and starting relationships. You should aim to be seen as a resource for ideas, information and contacts. This will keep you top of mind and reflect positively on your business.

START NETWORKING! A few last minute spots are still available for the Geelong's “Fast Forward” Speed networking event to be held Tuesday, November 23, 2010. Click here for more details and registration.

Women in Business

Women are becoming more prominent in the Australian workforce, especially in executive and leadership roles. Here at Morris Finance, three women are leading the way. Melanie, Abby and Jana have made a stir recently, getting plenty of positive feedback on their feature in the Geelong Advertiser and our recent company newsletter. Below is a glimpse of our leading ladies, but the best way to get to know them is to give us a call or say hello next time you visit our office.

	Melanie Tink – Operations Manager In her 6th year with Morris Finance, Melanie knows the company inside out. From daily tasks and procedures to credit control, investment, banking, accounting and a wide range of lending facilities, she ensures the flawless operation in every area of the business. Working her way up from an administrative role, she now oversees over 20 staff in a high paced environment.
	Abby Davis – New Business Specialist In her three years at Morris Finance, Abby has established a reputation for diligence. As our New Business Specialists, she handles all clients’ needs from motor vehicle finance to commercial lending, and ensures the highest standards of customer service.
	Jana Clack – Settlement Officer Following in Melanie’s footsteps is Jana Clack. Two years ago, Jana started with Morris Finance in a reception and administrative role. It wasn’t long before her work ethic and talent became apparent to Melanie, who promoted her to the important role of Settlement Officer.

You can stop by our head office at 20 Lt. Ryrie Street, Geelong to meet our Leading Ladies and discuss any finance needs.

Australians don't tolerate bad service.

A recent study by American Express has revealed that Australians are the second least tolerant nation in terms of bad customer service. Only one percent behind top-ranked Mexico, 86% of Australians will simply cease doing all business with a company rather than filing a complaint.

Key Findings:

You won’t always get a second chance: 28% of those surveyed said they would stop patronising a business after one bad experience. A more forgiving 48% said they would go back, but would blacklist the company after a second lapse in service.

Apology vs. Compensation: more than half of Australians said they wanted something in return for a bad experience. Surprisingly, most preferred an apology over some sort of compensation or discount.

Get History on your side: customers who have always experienced great service from a company in the past are more likely to excuse a bad experience as the exception, not the rule.

On a Positive Note: exceptional customer service is rewarded more than bad service is punished. While 88% will speak badly about a company after a negative experience, a whopping 96% will promote the company to friends after a positive experience.

What’s The Lesson?

Unfortunately, Australians have lost faith in complaint forms, and won’t waste their time telling you what you’ve done wrong. They’ll simply take their business elsewhere. Therefore, invest in customer service training for your staff, and build a history of exceptional service. Once you establish a relationship with you customers, they will be more likely to forgive you should you ever have a slip, and more comfortable telling you about it. When a bad experience does happen, ensure you address it as fast as possible, both with the customer and you staff, to ensure processes are adjusted to prevent this experience from recurring.

Help us find our next employee

Morris Finance Ltd is on the hunt for a mascot to use at promotional, community and company events.

After having the Mangement and staff submit their idea's we are now looking for further ideas from you.

MFL are running a competition on the design website www.99designs.com and are looking for entrants to assist us creating our new employee.

It can be an animal, super hero or a animated character that includes the MFL branding.

To register all you have to do is visit www.99designs.com and register and submit your entry, there is a prize for the winning entry and we will make sure you and your business is included in our online news story with your creation.

A quick link can be viewed at http://99designs.com/other-design-tasks/contests/finance-company-requiring-mascot-promotional-events-56599 .

If you need some help with idea’s please visit www.oddbods.com.au for past creations, Animal and Odd Bod Creations will be making the Mascot for MFL once we have decided on a theme.

Have a talk with your children and submit an entry on their behalf or pass the details onto your friends, family, Facebook or pass it around your office to see if you can help us find our next employee.

RBA lifts rates to 4.75%

Yesterday, the Reserve Bank of Australia lifted the cash rate by 25 basis points, the first rise since may 2010.

The new rate effective today is 4.75%.

Visit rba.gov.au for more information.

Melbourne Cup Trading Hours

It's that time of year again when the offices of MFL will be closed for public holidays.

Please be advised our office will be closed tomorrow the 2nd of November 2010 for the 150th running of the Melbourne cup.

Our office will re-open at 8.30am on Wednesday the 3rd of November 2010.

The Management and Staff would like to wish all our customers, suppliers and their families a Safe and enjoyable day.

For further inforamtion on the Melbourne cup please visit http://flemington.com.au/Melbourne-Cup-Carnival-2010.html

Important Accounting Dates for November

While this month is busy with Carnival Season, the ATO is taking it easy with lodgement dates. Only a few items to remeber for Novemeber.

11 Nov 2010

Activity statements

Quarter 1 (July - September 2010) activity statements: final date for electronic lodgment and payment. Refer to Lodge your activity statements online for information on your eligibility for this later due date.

21 Nov 2010

Activity statements

October 2010 monthly activity statements: final date for lodgment and payment.

28 Nov 2010

Superannuation

Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) (if required contributions were not made by the due date) for quarter 1 2010-11 (1 July - 30 September). The SGC is not tax deductible.

Speed Networking

Speed Networking – Innovative Business Event in November.

If you haven’t yet experienced a speed networking event, this is your chance.

VECCI is launching a new networking series called Fast Forward, with the first night booked for November 23rd, 2010 at the Royal Geelong Yacht Club.

The concept is borrowed from speed dating, with each participant meeting at least 10 business contacts by the end of the night. If you have been to a similar event, you know that the atmosphere will be fast paced and buzzing with excited chatter. With canapés and beverages served throughout the night, it’s a great way to forge new business relationships and have fun doing it!

Morris Finance is a proud sponsor of the event, with several staff booked to attend. Space is limited and entries close Tuesday 16th November, 2010. You never know who you’re going to meet so use the provided entry form and sign up your key team members.

Download Event Information & Registration Form

iPod Guide to the Economy

CommSec has been running an iPod Index since 2007 as a way of measuring the purchase power of our dollar. Using the iPod is a modern twist to the long running Big Mac Index of the Economist. Both methods work on the theory that goods should cost the same price around the world after factoring out currency exchange rates and local taxes.

What the index finds this time is that the Australia Dollar is overvalued against the American. Australia is now the 5th most expensive country, with the pre tax price of an iPod nano at $177 US equivalent. New Zealand and Thailand are both far below us on the chart, and Indonesia is the cheapest location at $150.31 USD for an 8GB iPod Nano.

The value of the Australian Dollar has increased almost 40% over the last two years. Yet in the last 6 months, we have gone up a few notches on the iPod index!

What this means for consumers:

Shop around! Not only for the iPod, but other globally available goods.
Buying online previously, shipping was a major barrier to taking advantage of online deals. However, freighters have jumped on board and now offer local US shipping addresses and cheaper fees.
According to CommSec, www.priceusa.com will ship the iPod for $171 AUD. Local stores are selling it for $199 AUD tax inclusive.

What this means for retailers:

Retailers will have to adjust prices to pass on the savings from our dollar's stronger buying power to consumers.
Quick response needed from retailers since web savvy consumers won’t hesitate to buy online or overseas while on holidays.
Retailers need to develop a strategy to handle the price flexibility expected in a global marketplace which is becoming more and more transparent.

The strong Australian dollar has established a firm foothold in the global marketplace. This should keep inflation at bay which in turn will reduce the need for interest rate hikes.

Geelong Cup: We're Open.

The spring carnival season comes to Geelong today, starting with the Geelong Cup.

At Morris Finance, it will be business as usual.

As an Australia wide company we will continue to operate today. Our office will be closed on Melbourne Cup Day Tuesday November 2nd, 2010.

For any concerns or enquiries, please don't hesitate to call our head office at (03) 5223 3453.

Best & Worst Industries for Enterpreneurs

During the recession and unstable times, thoughts of new business were put on hold. However, now that consumers are looking more confident, and signs of a “double dip” recession diminish, entrepreneurs are ready to take on new opportunities. Based on recent studies, below are the industries predicted to flourish over the coming year, as well as ones which will continue to struggle.

Top 5 Growing Industries:

1. Accounting:
This can be classified as one of the recession-proof industries since tax returns have to be lodged no matter how bad things get. The industry emerged relatively unscathed out of the last few years, and stands to benefit from post-recession changes. As new and stricter regulations emerge, companies will increase their reliance on accounting firms to remain compliant.

Although the start up cost is low, keep in mind that this industry thrives on personal relationships which can take time to accumulate.

2. House Construction
The statistics have quieted talks of the “housing bubble” being burst, and value of new housing construction is predicted to rise 10.4% over the next year. The demand in this sector is being fuelled mainly by first home buyers and a growing resident population.

With very low entry costs, over 1,000 new start ups are expected in the housing construction industry. Keep in mind that existing operators also have the advantage of previously established relationship s with contractors and preferential rates with suppliers.

3. Landscaping Services
Although this Australians’ spending in this area has stalled, their fascination with the industry is stronger than ever. There is a growing number of TV programs focused on landscaping and lifestyle. The above mentioned growth in housing construction and rising consumer confidence levels should increase demand for landscaping.

Since landscaping businesses usually operate within a small radius, chances of success will highly depend on competition in your particular area.

4. Plumbing Services
This is another industry whose fate is tied to the growth in housing construction. During the tougher months, the industry was supported with renovations of existing properties. Now it is expecting to get an added boost with over 169,000 units predicted to be built over the next year.
* Those considering entering the industry need to be prepared for the high level of regulation which they will encounter.

5. Take-Away Food
This industry is expected to be worth over $18 billion, or a 13% growth over a 5 year span. Main drivers are rising employment which results in busy Australians in need of quick and convenient food options.

Although competition is high, consumers will are craving variety and healthy options. Therefore, the cheaper and less competitive alternative may be niche opportunities rather than well known franchises.

Bottom 5 Start Up Industries

While some industries are experiencing a surge with the rising economy, others continue to struggle. Whether it’s due to high competitions, receding consumer levels or gradual redundancy, the following are the worst 5 sectors for entrepreneurs:

Petrol Stations (Automotive Fuel Retail)
Computer Maintenance
Household Equipment Repair
Image Processing & Printing
Plant Nurseries.

If you are thinking about taking advantage of a new business venture in the coming year, speak to
Morris Finance about funding options to get you started. Our specialised and experience team can help you understand your options and find a convenient solution. Call or Email us.

Business Tips - Telephone techniques that will improve your business professionalism

Even if you do not talk on the phone too often in your job, it is very important to have a professional and likeable demeanour when you do.

First impressions count, and you need to make sure that your clients, members, customers or work colleagues think of you in a positive light the first time they come into contact with you, which is usually through the phone.

Here are some small, simple things you can do when you are on the phone to improve your telephone etiquette:

Make sure you speak clearly and smile as you answer the phone; also identify yourself.
Before placing a caller on hold, ask their permission first and thank them.
Thank the customer for holding when you take them off hold, don't ask if they are there.
It is better to return a call than to keep someone on hold too long.
Do not forget to return the call as you promised.
Do not permit the phone to ring into the office more than three times.
Always use a pleasant, congenial and friendly tone.
Never interrupt the person while he/she is talking to you.
Never engage in an argument with a caller.
Do not handle an unhappy caller's concern in a public area so others can hear.
Do not make it a habit of receiving personal calls at work.
Do not answer the phone if you are eating or chewing gum.
Do not give the impression that you are rushed. It is better to return the call when you can give the person the time they need to handle the reason for their call.
Return calls promptly when a message has been left on your voicemail.
Do not ever leave a message with someone else or on voicemail regarding details of a sensitive nature. Instead, leave a message asking the person to call you back.
Do not call a home phone before 8am or after 9pm, unless the person has given you permission to do so.
Always hang up the phone, gently.

Breaking News: Cash Rate remains at 4.5%

Earlier this afternoon, RBA officials decided to keep the cash rate unchanged at 4.5%. This will come as a surprise to some economists and speculators who predicted a rise this month. However, this means a rise in November is now very likely.

Based on the Meeting Minutes form this afternoon, the RBA seems to have shifted its concern from housing priced to inflation. Hikes earlier in the year had their desired effect of cooling the housing market, with prices down 1.2% last quarter.

The current inflation is at 2.75% and falls within the RBA’s trend average of 2-3%. Changes in inflation figures over the next month will determine whether we have a rise in November.

Important Accounting Dates for October

October is a busy month for business accounting as well as personal income tax matters. Below are the important dates to help you keep everything in check:

21 Oct 10

Activity statements

September 2010 monthly activity statements: final date for lodgment and payment

Quarter 1 (July - September 2010) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidated group.

Quarter 1 (July - September 2010) activity statements containing a monthly GST obligation: final date for lodgment and payment.

PAYG instalments

Annual PAYG instalment notice: final date for payment and, if using the rate method or varying the instalment amount, final date for lodgment. If you have already lodged your annual income tax return, you should not vary your annual instalment.

28 Oct 10

Activity statements

Quarter 1 (July - September 2010) activity statements: final date for lodgment and payment.

GST instalments

Final date for electing to pay GST by instalments (that is, option 3) for June balancers if another reporting option was previously used.

Final date for opting out of option 3 for the current financial year (2010-11).

Quarter 1 (July - September 2010) instalment notices – forms S and T. Final date for payment and, if varying instalment amount, lodgment.

Four-instalment payers pay 25% their instalment liabilities.

GST

Final date for eligible quarterly GST reporters to elect to report GST annually.

PAYG instalments

Final date for eligible instalment reporters to elect to report annually for June balancers.

Final date for notifying your quarterly PAYG instalment reporting and payment choice for the 2011 income year for June balancers.

Quarter 1 (July - September 2010) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment.

Superannuation

Superannuation guarantee contributions for quarter 1 2010-11 (1 July - 30 September) to be made to the fund by this date.

If an employer does not make the minimum superannuation guarantee contributions for quarter 1 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) with the Tax Office by 28 November 2009. The SGC is not tax deductible.

31 Oct 10*

Superannuation

Final date for lodgment – DASP annual report.

Member contributions statement - paper or electronic - only applicable for APRA funds.

Lost members report for the period 1 January 2010 to 30 June 2010.

PAYG withholding

Final date for lodgment of the PAYG withholding where ABN not quoted – annual report (NAT 3448). Use this to report amounts withheld because another entity did not quote their ABN. These amounts are reported at label W4 of the activity statement.

Final date for lodgment of your PAYG withholding from interest dividend and royalty payments paid to non residents – annual report (NAT 7187). Payments of dividends, interest and royalties to non-residents are subject to withholding. These amounts are reported at label W3 of the activity statement.

Final date for lodgment of your PAYG withholding annual report – payments to foreign residents (NAT 12413). Payments made to foreign residents for entertainment or sports activities, construction and related activities, and arranging casino gaming junket activities are subject to withholding. These amounts are reported at label W3 of the activity statement.

GST

Annual GST return (option 3) or Annual GST information report (option 2) lodgment and payment (if required) is due when the income tax return is due. If you use a tax agent, different lodgment and payment dates may apply.

Income tax

Final date for lodgment of individual, partnership and trust income tax returns, unless an approved SAP has been granted.

Income tax return lodgment due date for all June balancing company and superannuation funds where one or more prior-year returns were outstanding, as at 30 June 2010.

Annual investment income reporting

Final date for lodgment of the Annual investment income report for all investment bodies.

Daylight Savings Time

This coming Sunday, participating states in Australia will enter Daylight Savings Time.
Daylight savings is when we advance our clocks during the warmer months and begins on the first Sunday in October.

Since Morris Finance deals with people across Australia, we would like to remind you of this upcoming change to ensure a smooth transition.

Observing states: New South Wales, Victoria, South Australia, Tasmania, and the Australian Capital Territory.

What to do: This coming Sunday, October 3, 2010 at 2:00am turn your clock forward 1 Hour to 3 am.

Please be mindful that Daylight Saving Time is not observed in Queensland, the Northern Territory or Western Australia. This may affect the time difference between locations across Australia.

For more information, click here.

FAQ: How Does a Novated Lease Work?

A novated lease is a popular option for vehicle finance. The lease is incorporated into an employee’s salary package, and is an agreement between the employee, employer and finance provider. It can be beneficial for both the employee and the employer.

How does a novated lease work?

Two contracts are arranged: one between financier and employer, and one between all three parties. The employer pays the monthly car lease rentals on behalf of the employee, and provides the vehicle for the employee to use as part of their salary packaging arrangement. Since the car payments are taken out of the employee’s pre-tax salary, this can have tax benefits.
Costs for the year are determined based on estimated use, and then divided into equal monthly payments. Unused amounts can be credited back, and leases can be adjusted for over use or the difference paid out at the end.

Why get a Novated Lease with Morris Finance?

We offer terms from 12 to 60 months, with convenient fixed payments
You get to choose the car that best suits your needs
We can have you in your new car within 24-48 hours
The Interest Rate is fixed for the term of the novated lease agreement
Lower interest rates due to the vehicle lease being secured against the vehicle
Since GST is claimed back by the finance provider on your behalf, we lower the financed amount to “purchase price minus GST”.
We will finance 100% of the purchase price (subject to credit approval)
We can email you Monthly Vehicle Usage Reports to help you see how you are tracking against the estimated cost program.
A novated lease is portable and may be re-novated from one employer to another (depending on employer acceptance)

Employer Benefits?

Great way to add value to your salary packages and attract employees
Unlike a company car, all responsibility is with the employee.
GST is charged on the monthly novated lease payment and as long as the company is registered for GST, they can claim this back on their BAS.
The employer claims the novated lease payment as a business expense (as long as the financed amount is below Depreciation Limit of $57,123).
The pre-tax payments can reduce you payroll tax and associated work cover fees.

What if the Employment Terminates?

If employment terminates for any reason, or the novated lease contract is finalised, the Novation ceases and any obligations by the employer revert back to the employee. Employers typically keep the employee’s final pay until reconciliation is received from the financier, to cover them in case of a deficit amount.

Are there other options?

Although a novated lease can be arrange with any employer willing to offer salary packages. There are other options to finance your vehicle. Speak to Morris Finance to help determine the best package for you.

Business confidence rebounded in August - study

BUSINESS confidence rebounded to levels last seen in April as profits improved although sales and employment conditions weakened, a survey shows.

The National Australia Bank's (NAB) monthly business confidence index rose to 11 in August, reversing a decline in July.

"Business confidence rebounded 9 points in August, following three months during which overseas financial turbulence and policy uncertainty contributed to more subdued readings," NAB said.

"However, confidence has not returned to the euphoric levels recorded late last year and early this year."

The survey also showed business conditions were unchanged at an index reading of 5 points in August.

"The...index at 5 points remains just below the long term average reading of 6 points."

NAB said employment conditions were at the lowest level this year, although still in positive territory, with the index falling to 3 from seven the month before.

A reading above zero indicates optimists outweigh pessimists.

The survey found transport, recreation and mining had the strongest conditions.

It showed construction improved slightly but remained weak and retail slipped further into negative territory to remain the weakest sector.

NAB said there were "ongoing signs" of near-term softness, with capacity utilisation dipping slightly while forward orders and stocks remained in negative territory.

Ongoing retail discounting was contributing to subdued price inflation at the same time as wages continue to accelerate, NAB said.

The survey also showed a "marked increase" in the proportion of businesses seeking credit, but finance availability tightened in August.

NAB's global growth forecast was little changed at 4.7 per cent in 2010

Petrol Prices take a dip.

Petrol Prices across Australia have plummeted down to 2009 levels, with some locations nearing $1 per litre mid August. Additionally, cheap fuel days seem to have shifted from Fridays or Saturday towards Sunday and Monday.

Why Have Prices Dropped?

There are several reasons for the recent decline in pump prices:

1. Global Issues: As the US economy continues to struggle, investors are becoming concerned about the implications of this to the oil demand and overall global economy.

2. Aussie Dollar: The strength of our currency definitely plays a part in lowering prices. The prices for petrol we receive from Singapore are the lowest we’ve paid in almost 8 months.

3. Competition: The cheaper wholesale rates are allowing providers to be more competitive, resulting in lower prices at the pumps.

What does it mean?

Motorists are saving an average of $8 per month in comparison to June statistics. Besides helping families and drivers across Australia, this also has a positive effect for our economy.

With consumers feeling more confident and optimistic, retailers and investors hope this will translate to increased spending and market activity.

RBA Leave Interest Rates Unchanged.

At its meeting today, the Board decided to leave the cash rate unchanged at 4.5%.

Important Accounting Dates for September.

September will be an easy month for lodgements with just one date:

21 Sep 10

Activity statements

August 2010 monthly activity statements: final date for lodgment and payment.

The Role of Finance - Glenn Stevens

Recently, Governor Glenn Stevens delivered a speech titled The Role of Finance. It was delivered at a lecture in commemoration of Australia’s great scholar, writer and economist Edward Owen Giblin Shann. The speech was a brilliant overview of finance and its role in society form early origins to modern implication and future evolution.

To formulate the speech, Glenn Stevens broke down the larger topic of “What is the Role of Finance” into four questions:

1. What are the desirable functions of the financial system, and how did they evolve?
2. What problems are inherent in finance, and what issues do they raise for policymakers?
3. What questions arise from the growth and change of the financial system over the past couple of decades?
4. What are the challenges as we look ahead?

Below are the key elements from each section of the speech. For the full details, we recommend you read the full document which can be found on the official RBA website.

The Functions of the Financial System and its Origins

What is it that we need the financial system to do?

I think we can outline five key functions. We want it to provide:
i. a reliable way of making payments (that is, exchanging value);
ii. a means for pricing and pooling certain types of risks;
iii. a way of transferring resources from savers to borrowers;
iv. a way of transferring the returns back again, which requires that the savers’ money is not lost and which, in turn, requires monitoring of borrowers and managers; and
v. liquidity.

These are very valuable things for a community to have. The modern economy could not have developed without these capabilities arising in the financial system.

We tend to think of financial activity and innovation as very recent, but in fact the history is a long one. Borrowing and lending is almost as old as civilisation itself, with financial activities such as taking deposits, making loans and facilitating transactions dating back at least to 18th century BC Babylonian records.

The need for credit facilities, expansion and short terms financing lead to development of a proper banking system. In Australia, this was marked with the formation of the Bank of New South Wales in 1817 and its responsibility to issue paper currency.

The Problems of Finance and Development of Regulation

As banking developed, it became more leveraged. No longer was it a case of a few wealthy individuals risking their own money in enterprises akin to venture capital funds – accepting the risk and illiquidity that went with it. Now, in their more developed form, banks raised deposits from the public – redeemable at their face value, at notice or at call.

Glenn Stevens also raises the point that the history of finances is also one of regulatory response. As an inseparable aspect of finance, regulation prompts further innovation, and has its own pronounced cycles. In the 1930s, regulation become increasingly intrusive, running economies on direct intervention rather than price mechanisms.

Questions Arising from the Growth of Finance

The past 20 years has seen a major increase in the size and breadth of activity of the financial sector in most economies, as well as acceleration in the globalisation of finance. Total assets of financial institutions relative to the size of the economy have increased from the equivalent of around 100 per cent of annual GDP in the early 1980s to almost 350 per cent in recent years.

There are at least two potential problems in a world where the finance sector becomes ‘too big’.

1. Since finance has its own cycles of risk, crises and de-leveraging, a crisis in a financial system which is larger than the economy risks destabilising the whole economy. Financial crises often rely on the general public for support and restoration which can have crippling economic effects. This was seen recently in several North Atlantic countries.

2. A large financial sector can make incomes less stable and draw in too many resources which would otherwise be employed for a higher social purpose; there are more PhD physicists, mathematicians and engineers working on options pricing rather than increasing then increasing the productivity of our economy.

These negative “side effects” of finance have prompted Financial Services Authorities around the world to question whether the liberalisation of the sector has gone too far. Glenn Stevens predicts this question will continue to be highly debated over the next few years.

Looking Ahead

Where then does this leave us?

The regulatory cycle has come fully around. After two or three decades of liberalisation and allowing markets and private agents in the financial sector more sway, the international debate has of late been consumed with issues of financial regulation: how to re-design it, and generally increase it.

The objective should not be to suppress finance as it was for the majority of its history. After all, finance matters and can make a make a massive difference to economic development and ordinary lives.

Therefore, the objective should be to preserve the genuine benefits of an efficient and dynamic financial system, while restraining or punishing behaviour which can lead to economic instability.

5 Ways to Stay Motivated at Work

We all have times when we don't feel motivated in our job. This can be a certain time of the day, a gap between projects or an uninspiring series of tasks.

Although it's easy to blame your boss or manager, you are predominantly responsible for keeping up your motivation. Different tactics work for different people, and below are some tips to help keep your spirits up and increase your productivity:

1. Plan Your Day

Select several things you want to accomplish on a particular day. It's better to have two or three tasks (depending on the time required) than a two page to-do list. Make sure you know exactly how to get the job done, and clarify anything you are unsure of. By being fully aware of what's ahead, the task will feel manageable and not so daunting. It will also help you work efficiently because you will be aware of all the elements which need to be completed.

2. Break Up Your Day

It's hard to keep motivation up when you are doing the same things over and over again. Scheduling in breaks is just as important as allocating tasks. Have a cup of tea, read a quick news update or walk over to a colleague. It will encourage you to work more productively because you will have a regular break you can look forward to.

3. Know Your Limits

Doing too much, all the time will inevitably leave you feeling burnt out and unmotivated. When you do too many tasks, you lose focus of what your goals and key roles are. You are always busy "being busy" but probably not utilising your unique strengths for which you were hired.

Step back and assess all the tasks you are doing. Are all of them your responsibility? Often, we take on work to help out colleagues, or just because it lands in our inbox. Learn to delegate and assess what is and is not your responsibility. This will leave more room for tasks you enjoy, which are usually the ones you were hired to do in the first place!

4. Remind Yourself Why You're There

Even in your ideal job, you will have times when you are not motivated. It's important to remind yourself why you are at your current job. Is it a step on your career path? If so, how can you prove yourself and create opportunities to make sure you keep moving towards your ideal position. Are you in it just for the money? Then focus on your personal goals which will benefit from your income. Find out about incentives and increments, as well as the expectations you need to meet to get to the next level.

5. Reward Yourself

Finally, the simplest and often most effective tip: reward yourself for completing objectives and meeting goals. Most organisations have rewards or incentives which you can work towards, but it's easy to do it for yourself. It can be as simple as a sweet treat towards the end of the day to keep you productive in the afternoon or a new book if you finish all your weekly tasks.

Most importantly keep a positive attitude and try to associate with others who have the same mindset.

iPhone 4 - is it worth it?

On July 30th Australians joined the millions of other iPhone4 owners across the world. While there has been a significant amount of controversy surrounding the release (mostly thanks to the antenna issue), Telstra recorded the highest amount of pre-orders for this smartphone. The major carriers have also updated their plans to cater to the increasing data usage among buyers.

To help you decide whether it’s worth the upgrade we’ve rounded up all the stats on the iPhone4:
Scroll through or use the quick links below.

iPhone 4 Features
iPhone 4 Plans & Prices
Should I Upgrade?

iPhone 4 FEATURES

Speed & Multitasking: This is the feature all iPhone users have been holding out “4”. With the increased speed of the Apple A4 chip which powers the phone, users can seamlessly jump between programs, without lag time. This means you can receive Skype calls while using another programs, and flick between apps and emails. The battery has also been upgraded to increase life.
* While iPhone 4 users have had no trouble with the new iOS 4.0 software, 3GS users upgrading to the software have reported issues.

Display: The “Retina Display” on the new iPhone4 has the highest resolution screen on a phone. The 960x640 resolution, 3.5 inch screen offers significantly crisper images than the previous models. See the demo comparison here.
It mean less zooming, and less squinting for those of us who do a lot of reading and emailing, and unprecedented image clarity for those who snap and share photos.

Thin-ness: The new iPhone 4 is thinner but sturdier than the previous versions. It uses glass for its front and back plates, which Apple has said is 30 times stronger than plastic. Made from the same materials as helicopters and high-speed trains, it’s chemically strengthened to be durable and scratch resistant.

HD Video/Still Camera: The quality and functionality of the HD Camera means you no longer have to carry a bunch of devices. The iPhone4 can capture a photo or video as well if not better than your entry level camera or video recorder. Plus, it offers features to make it easier to edit and share your images:
- Edit on the phone to turn video clips into a movie
- Share a movie instantly over messenger for live feed, send pre-recorded movies via email, or upload just about anywhere
- Self portrait video mode lets you see yourself while you record

Video Chat: The iPhone4 has two cameras, on the front and back of the phone, so you can record yourself while viewing the incoming video. With a tap, you can switch between cameras to flick between filming your face, and your surroundings. Video chat comes ready to use, and doesn’t need any account set-up.
* Video chat can only be accessed on WiFi and with other iPhone4 users. However, the feature’s popularity will increase as it is released to 3GS users.

*Antenna: The antenna and reception issue has been blown out by critics. However, that’s not to say the issue does not exist. Apple can’t deny users complaining about poor reception. What Apple can do, is hand out free cases to prevent the problem for buyers. Since cases are only being supplied to those who buy before September 30, 2010 suggests a manufacturing fix may be on the way. If you can’t hold out for the potential fix, the millions of current users say the phones other features still make it a remarkable tool despite the small flaw.

iPhone 4 PLANS & PRICES

The following carriers are offering locked plans on a 2 year contract. Apple is selling the phone unlocked for $859 (16 GB) or $999 (32 GB).

Telstra More details.	$49 - $400 calls, 200MB data $79 - $750 calls, 500MB data $99 - $1000 calls, 500MB
Optus Optus plans include unlimited mobile access to Facebook, Twitter, LinkedIn, MySpace, eBay and Foursquare. On the $49 plan, there is an $8/month for 16GB iPhone 4 and $15/month for 32GB model. This is $10 a month on the $59 cap for the 32GB model. More details.	$49 - $450 calls, 1GB data $59 - $550 calls, 2GB data $79 - $800 calls, 2GB data $89 - Unlimited calls, 3GB data Timeless Extreme Plans: include unlimited talk, text, video calls and MMS) $89 - 3GB data $99 - 5GB data $129 - 6GBdata
Three On the $39 plan, customers must pay $10 a month and $14 a month for the 16GB and 32GB versions, respectively. On the $49 plan the monthly installments are $5 and $10, respectively, while the phone is free on the $79 plan. More Details.	$39 - $200 calls to VF/3 + $150 calls to any network, 150MB of data + bonus 1GB $49 - $270 calls to VF/3 + $350 calls to any network, 250MB of data + bonus 1GB $79 - $450 calls to VF/3 + $650 calls to any network, 1GB of data + bonus 1GB
Vodaphone On the $29 plan, customers must pay $18 and $24 a month for the 16GB and 32GB versions, respectively. On the $49 plan they pay $5 and $10 a month, respectively, while on the $69 plan the 32GB version has a monthly installment of $5. The phone is free on the $79 and $99 plans. More Details.	$29 - Unlimited calls to VF/3 + $180 calls to any network, 50MB of data + bonus 500MB $49 - Unlimited calls to VF/3 + $450 calls to any network, 500MB of data + bonus 1GB $69 - Unlimited calls to VF/3 + $650 calls to any network, 750MB of data + bonus 1GB $79 - Unlimited calls to VF/3 + $800 calls to any network, 1GB of data + bonus 1GB $99 - Unlimited calls to any network, 2GB of data + bonus 1GB

SHOULD I UPGRADE?

I don’t have a Smartphone: If you are waiting for the perfect time or perfect model to change to a smart phone, stop waiting. Phones are coming out constantly and updates are inevitable. By getting the iPhone 4 you have access to the latest features and apps.

I have an older 3G model: If you are on an older model you are probably nearing the end of your contract. This is the perfect time to upgrade. New iPhones are faster and offer better connectivity to help you make the most of new features like multitasking.

I have a 3GS model: The latest iPhone models are still relevance because they allow you to install updates to use 4.0 technology and apps. If you have a lot of time left on your contract, and are not “gadget-crazed”, you can wait until the 5th generation comes out. (Likely to coincide with the end of your contract.)

If you already have an iPhone 4: we’d love to hear your thoughts. Give us a call, drop us a line or come in to show off your new toy.

FAQ: What Are Residuals?

"What is a Residual?" is one of the most frequently asked questions we receive at Morris Finance. A residual is a lump amount of your purchase that is deferred until the end of your contract. It reduces your total repayment amount, therefore lowering repayments, and making the item more affordable. By offsetting your end of term balance, you also create flexibility within your cashflow.

When your lease comes to an end the residual amount remains. Most commonly, people choose to trade in their existing vehicle or equipment for a new one. The sale price pays off the residual and you are able to get a brand new vehicle or equipment while maintaining similar repayment amounts. Residual amounts can vary between 25% to 50% of the purchase. At MFL, we attempt to match the residual to the asset’s anticipated trade-in value so that you are not left with a short fall to pay at the end of your term. Alternatively, if you choose to keep your vehicle or goods, you can refinance the residual amount. This will create equity and build ownership towards your goal, but increase the amount of interest paid over time.

What's the difference between a Residual and Balloon?
They are different terms to describe the deferred amount of your purchase. A residual refers to the estimated value of the purchase at the end of your Lease contract. The term balloon is often used in Hire Purchase scenarios, where you pay out the balloon to own the vehicle at the end of the term.

To discuss the best possible facility for your purchase or answer any further questions, contact one of the New Business Specialists at Morris Finance.

RBA leaves rates at 4.5% for 3rd consecutive month.

For the third consecutive month, the Reserve Bank of Australia has left interest rates unchanged at 4.5%. Although the announcement comes as a relief to consumers, it is not a surprise; economic data from the previous quarter revealed that inflation rates were lower than expected. Treasurer Glenn Stevens stated that current rates were in line with average trends over the past decade, and at an appropriate level.

Although Glenn Stevens’ summary of the meeting gave little away about RBA’s future intentions, economists are predicting rates could remain unchanged until 2011. The main factor to get rates moving again would be a raised inflation reading at the end of third quarter in October.

On another note, the concern over house prices and “the bubble” have seemed to subside with Stevens saying that "credit outstanding for housing has continued to expand, but the upward pressure on dwelling prices appears to have abated." He showed more concern towards business credit, highlighting that conditions remain difficult in some sectors.

Banks and major lenders are expected to follow suit and keep rates on hold. What this means for Morris Finance is the ability to continue offering highly competitive rates for our clients. Ask our staff for detailed information.

Important Accounting Dates for August

Morris Finance would like to remind all our clients and readers of the important lodgement dates coming up for the month of August. For more information, visit ato.gov.au.

11 Aug 10

Activity statements
Quarter 4 (April - June 2010) activity statements: final date for electronic lodgment and payment. Refer to Lodge your activity statements online for information on your eligibility for this later due date.

14 Aug 10

PAYG withholding
Final date for lodgment of the PAYG withholding payment summary annual report. Use this to report amounts withheld from salary and wages and other payments. These amounts are reported at label W2 of the activity statement.

Superannuation
DASP data records that form part of the PAYG withholding payment summary annual report.

21 Aug 10

Activity statements
July 2010 monthly activity statements: final date for lodgment and payment.

GST
Final date for eligible monthly GST reporters to elect to report GST annually.

28 Aug 10

Superannuation
Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) (if required contributions were not made by the due date) for quarter 4 2009-10 (1 April - 30 June) to be lodged and paid to the Tax Office. The SGC is not tax deductible.

Morris Finance gets involved!

Morris Finance has always placed community involvement high on the priority list. Even throughout the turbulent times of our previous 2009-10 financial year, we managed to support a variety of great causes locally and Australia wide.

Aside form the rewarding feeling of enhancing the community in which we live and work, the fund raising efforts have also been great for our business. The casual and relaxed atmosphere of these events has allowed us to get to know clients and form business relationships. It’s also a great way to expose our brand and personally communicate to people what we are all about.

Some event highlights form the previous year include:

VECCI’s Annual Golf Day at 13th Beach which raised funds for the Children’s Ward at Geelong Hospital. Aside from participating, MFL donated a Queensland holiday to encourage people to enter in the “Hole in One” competition, raising further funds for the charity.

NAB Charity Auction where businesses donate and bid on items to raise funds for a number of local charities including Headspace, Kids Plus, Michael Carmody Foundation and the Barwon Health Foundation.

Breast Cancer Research Raffle to which MFL donated the top prize of a holiday worth over $2000.

Our community commitments and corporate responsibility trickles down from the very top, starting with CEO Ian Murray. In his spare time, Ian takes the elderly and disabled on board his award winning yacht Cinquante. The most recent commitment of Morris Finance is from Managing Director Nathan Murray who has got on board with Geelong MPs to develop local career opportunities.

To get involved or to find out more information about upcoming events contact us or give us a call.

2010-11 Financial Year Tips

At the start of a new financial year, it’s important to assess your business and set a plan to move forward. As you are creating your “new year’s resolutions”, it is important to take into considerations recent policy changes and ATO’s objectives for the coming year.

Your Business Objectives:

Dedicate time to review you business in order to maintain progress over the next financial year. Based on the current economic climate, these are key areas that businesses should look at while planning for the coming year:

Profitability: Assess the profitability of your business, identify your highest yield consumers, and then create a plan to target then throughout the year.

Cashflow: If your business relies on a bank or another lending institution, prepare your cashflow to handle interest rate increases later this year and in 2011.

Staff Retention: as industry sectors improve, it is expected that there will be increased demand for quality staff. Retain your top performers by reviewing pay packages and training opportunities early in the year, before they receive a rival offer.

ATO Changes & Objectives:

In order maintain a compliant business, familiarise yourself with the following areas which have recently undergone policy changes. You should also be mindful of the sectors which ATO is targeting in their tax time crack down.

Wages & Awards

Fairwork and the ATO will continue to keep a watchful eye on businesses, especially SMEs, to ensure employees are paid correctly. Minimum wage has been increased to $569.90/week, and the shift to the Modern Awards system started July 1st. In order to achieve a smooth transition process, businesses will be allowed to phase in the new awards through 20% increments. Get the Modern Awards Fact Sheet.

Losses & Fringe Benefits

ATO says businesses continue to submit improper claims in these areas, in particular claiming losses that aren’t eligible. They will also be targeting luxury cars that have been claimed under business, so make sure you keep a very thorough logbook this year.

Consumer Credit

The National Consumer Credit code has been undergoing a changeover from state to federal government. Major reforms for SMEs kicked in July 1st, including regulation changes to penalty clauses, limitation of liability and one sided variation clauses. Sign up to our newsletter to read more about the changes in our next issue.

At Morris Finance, we consider it our responsibility to be aware of the latest policy changes and maintain appropriate accreditation. You can visit our Associations page to view our membership details or contact us for more information.

Success for MFL at the Geelong Centrelink Expo.

Last Thursday, Nathan Murray, Melanie Tink and Jim Climpson headed to the Geelong Arena to represent Morris Finance at the Centrelink Job Expo. Over 8,000 people attended the event which advertised over 1000 jobs. The expo attracted government officials including MPs Simon Crean, Darren Cheeseman, Robert Myles and local Mayor Cr John Mitchell.

This was the 24th event of its kind in Australia. As a response to the large attendance and successful results, the government has approved the funding for a further 19 similar events this year. As the headline in the Geelong Advertiser of the 1,333 jobs advertised at the Expo, 775 were filled on the day.
Managing Director Nathan Murray represented Morris Finance in interviews with Chanel 31, K Rock FM and Centrelink officials. He discussed the exposition's positive effects on the greater community of Geelong as well as the benefits for local business.

At the show, Morris Finance received over 80 applications for employment, spoke with several promising candidates, and expects more resumes / inquries to be emailed through over the coming weeks. It was also a great opportunity to promote the company in Geelong. Although Morris Finance has been based in Geelong for 12 years, their core business is Australia wide and have only recently started marketing in Geelong.

From the attending businesses, Morris Finance Ltd was selected by Centrelink officials to conduct a follow up discussion later this week. Nathan Murray will meet with MP Simon Crean to discuss the positive outcomes of the Centrelink Jobs Expo, and the benefits it will have on the local community.

If you have any enquiries regarding the expo or would like to follow up on your job application please contact our office.

Today: Morris Finance at the Expo

Morris Finance representatives will be at the Centrelink Job Expo today. Over 10,000 people are expected to attend the Geelong Arena, with over 1,000 jobs on display. Visit www.centrelink.gov.au for more info, or pay us a visit at the show.

Say Hello to Melanie Tink & Jim Climpson at the MFL display.

Interest Rates Remain at 4.5%

The RBA announced yesterday, after their monthly board meeting, that the cash rate will remain at 4.5%. This is the second consecutive month that rates have not been lifted.

Tax cuts put $$$ in your pocket

July has started off with a bang, as we head into a new financial year, with a new prime minister. The recent flurry of events has overshadowed the arrival of the latest tax cuts.

On July 1st, the third and final tax cut from the Rudd Government came into effect. The following changes will add a bit of extra padding to our next pay packet. How much will depend on you income bracket.

tax free threshold increases to $16,000
30% tax threshold increases to $37,000
38% tax rate drops to 37% for those earning $80,00-180,000

Therefore, if you earn $100,000 your weekly savings will increase to just under $10 a week. It won’t make or break your budget, but can make a difference if used creatively. Subscribe to a new magazine or take some new contacts out for coffee each week. Read James Thomson’s article for some other ways to squeeze the benefits out of this tax cut.

Lower income earners will have more noticeable savings. For a family with a combined income of $85,000 the tax cuts can mean a weekly saving of around $40, or $2100 annually. This will vary depending on the tax brackets of each income source.

If you are thinking of really harnessing your savings, Morris Finance can answer your question and provide investment options and opportunities.

Tax Payable in 2010-2011 (TheAustralian.com.au)
Annual Income	Extra $ in your pocket
20,000 - 35,000	150
40,000 - 60,000	450
70,000 - 80,000	300
100,000	500
120,000	700
150,000	1000
180,000+	1300

Important Accounting Dates for July

It is the first month of the 2010/11 financial year. Make it your resolution to keep track of the important lodgement dates and keep your business compliant. Morris Finance will post mothly dates that you need to be aware of.

14 Jul 10

PAYG withholding
Payers must issue PAYG withholding payment summaries to payees (that is, employees and other workers).

21 Jul 10

Activity statements
June 2010 monthly activity statements - final date for lodgment and payment.

Quarter 4 (April - June 2010) activity statements containing a monthly GST obligation - final date for lodgment and payment.

To ensure you receive the correct amount of credit in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.

Quarter 4 (April - June 2010) consolidated instalment activity statements - final date for lodgment and payment by a head company of a consolidated group.

28 Jul 10

Activity statements

Quarter 4 (April - June 2010) activity statements - final date for lodgment and payment.

To ensure you receive the correct amount of credit in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.

PAYG instalments

Quarter 4 (April - June 2010) instalment notices (forms R and T) - final date for payment and, if varying the instalment amount, lodgment (two-instalment payers are also required to pay 25% of their PAYG instalment liabilities).

To ensure you receive the correct amount of credit in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.

GST instalments

Quarter 4 (April - June 2010) instalment notices (forms S and T) - final date for payment and, if varying the instalment amount, lodgment (two-instalment payers are also required to pay 25% of their instalment liabilities, and four-instalment payers are also required to pay the final 25% of their instalment liabilities).

Superannuation

Superannuation guarantee contributions for quarter 4 2009-10 (1 April - 30 June) are to be made to the fund by this date.

If an employer does not pay the minimum superannuation guarantee contributions for quarter 4 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly with us by 28 August 2010. The SGC is not tax deductible.

For more information visit ATO.

Revenue Forecast: How will your industry perform this year?

We’re on the brink of a new financial year, and the statistics for Australia are looking pretty good. Next year’s economic growth is anticipated to reach 3.7%, putting Australia ahead of most advanced global economies.

The recently released IBISWorld statistics cast light on the industries that will contribute to this growth. It also points out industries that will experience negative growth.

Top 5	Bottom 5
Organic Farming	Insulation Services
Online Information Services	Wired Telco Carriers
Insurance Brokerage	Paper Manufacturing
Mobile Telco Carriers	Video Hire Outlets
Alternative Health Therapies	Grape Growing

The Top 5 Growing Industries:

Organic Farming +15.1%
The organic industry is gaining momentum as our disposable income increases sand we become more conscious of health and environmental impacts of what we eat. As the likes of McDonalds and other large corporations catch on to this trade we will see rapidly rising demand for the production of organic goods.

Online Information Services +8.7%
As multimedia devices flood the communication and become more affordable, the demand for information on the go will get even higher. With easy access, consumers are going online for information and resources. The flow on effect of this is already being seen as companies and advertisers look for ways to target consumers online and through software applications on the devices.

Insurane Brokerage +7.2%
In the coming year, Insurance carriers are likely to recover some of the underwriting capacity lost in recent investments. As insurance brokers work on a commission basis, revenue growth will lead to increased wages and employment.

Mobile Telecommunication Providers
The explosion of handheld devices that are dependant on data plans will fuel revenue growth for the telecommunicating providers. Users are also ditching their landline connections and relying on their wireless devices.

Alternative Health Therapies +6.5%
The trend that is driving organic production will also benefit the alternative health industry. As consumers become more aware and comfortable with alternative therapies, demand will increase. Most major health insurance providers are now adding this to the coverage policies, again increasing consumption in this sector.

The Negative Growth Industries

Insulation Services -24.1%
The government rebates and support have been the major factor in the raid growth of this industry over the past 3 years. With the withdrawal of subsidies, employment numbers are expected to drop as the market competition increases with independent contractors and DIY buffs.

Wired Telecommunication Carriers -4.8%
The same trend that is driving the wireless carriers is doing the opposite for those still offering wired services. Consumers’ devices encourage on-the-move use, and wireless plans cater to this trend with reliable and affordable plans.

Paper Manufacturing -3.1%
Yet another industry that suffers with the rise of versatile and affordable technology. The iPad craze has won over readers and content producers alike, bringing more media online and reducing the need for print. In addition, over 50% of Australia’s paper products are now made from imported material as publishers struggle to compete with the much cheaper online medium.

Video Hire Outlets -3.1%
Media streaming and downloads have been around for years now, both legally and illegally, however only recently have they been drastically reducing revenues for the likes of video hire businesses. This is again due to better technology which allows users to view the media on a range of devices without compromising quality.

Grape Growers -3.0%
90% of our grapes are used in the production of wine. Unfortunately for the growers, Australian wine has been selling cheaply or not selling at all. The high autralian dollar means tough times ahead for our wine growers in this competitive industry.

Breaking News: Australia's New Prime Minister

Julia Gillard is Australia's new leader.

Just before 10am today, after a whirlwind of political events, Julia Gillard became the first female Prime Minister of Australia. Subsequently, Kevin Rudd became the first Prime Minister to be deposed before the end of his first term.

Gillard was elected unopposed after Kevin Rudd chose to step down before the leadership vote in Canberra this morning. Treasurer Wayne Swan was also elected unopposed as Deputy Prime Minister.

Morris Finance will be keeping our clients and readers up to date as these events continue to unfold.

iPad Summarised

View: iPad Features iPad Plans iPad for Business

It has been a few weeks since the iPad hit Australian stores on May 28th. Now that the line ups have died down, and delivery companies have had a chance to breathe, you can take a look at what the madness is all about; that is, if you aren't reading this on an iPad already. Statistics alone say a lot, with over 2 million units sold as of June 1st. (U.S. release date was April 1st for wifi model followed with the 3G model on April 30th)

Is it just a bigger iPhone?

The answer is no. Initially, critics were quick to criticise the lack of features in comparison to the iPhone, even though these products were never meant to compete. Apple's challenge was to see if they can create another product category to sit between the phone and laptop.
While the iPhone will continue to dominate the mobile market, the iPad's larger size will make it ideal for reading, browsing and gaming. In business it will assist anywhere we can currently use a notepad, or clipboard as well as allow for easy on the go presentations. There is also an opportunity for the iPad to lead the way in getting the older Australians online. The simple interface, no keyboard or mouse, and large screen will be great for arthritic hands and less intimidating for those not familiar with technology.

FEATURES

Size:
Weight:
Screen:
Capacity:
Battery:
Connectivity:

242.8mm x 189.7mm, 13.4mm thick
680g (WiFi) or 730g (3G)
9.7" or 1024 x 768 pixels
16 to 64GB
10 hours, or 1 month in standby
Bluetooth, Wi-Fi or 3G

Some users are questioning the growing list of features Apple has chosen to exclude from its latest creations.

The iPad does not have:
- camera or phone
- usb drives or memory card reader
- support for flash (although Apple has release CS5 conversion software for apps)
- multi-tasking
- only iTunes option for video and music

The features and hardware that are included have been methodically thought out to clearly differentiate the iPad form other products. Apple's ingenuity is that they have created, and dominated, a new product category without compromising the sales of their other devices.

PLANS

All four major major telecommunication companies are offering a range of plans for the iPad. Telstra, Optus, Three and Vodaphone have confirmed they will not be selling the iPads in stores, but certain locations will have the official MicroSIMs.
Plans vary from monthly, post and prepaid, all with slight differences that can make an impact on the total cost.

Telstra - expensive, limited plans. Best coverage.

The iPad plans follow the Telstra trend where customers get fewer options, that are generally more expensive than competitors, but have the best coverage. The three advertised prepaid plans are $20, $30 and $60 for 1, 3, or 6GB respectively, with a $30 starter fee. Company reportedly has two other plans not adverted on its site of $80/ 9GB and $100/ 12GB both expiring in 30 days.

Optus - the biggest range of plans.

Optus has plans starting at $15 for 500MB, and 1G sign up bonus. The catch is you must use the bonus gig within 15 days.
All plans have a $30 starter fee, and monthly options are $20, $30 and $60 for 2, 3, or 8GB respectively.

Vodaphone - best of both worlds, no roaming fees.

With a starter plan of $9.95 for 250MB, and $49.95 for 30 days of unlimited data, Vodaphone is looking pretty attractive. Another benefits is the lack of roaming fees, meaning users can browse just about anywhere without extra cost, although speeds will be slower.

Three - best budget plans for metropolitan users.

The company has kept up with its reputation as the budget telco, with a free starter pack and 500MB plans for $15. Three is known to have a limited coverage area, so users need to consider their location as roaming fees will quickly exhaust your plan.

FOR BUSINESS

The ATO has confirmed that businesses will be able to claim iPad purchases in tax deduction, following same procedure as a laptop. This means software, data usage and other operating costs will also be eligible. The ATO has yet to make a statement regarding salary packaging including the iPad, with major companies such as JetStar already incorporating the new gadget into their business procedures.

Essentially, iPad can replace anything from a notepad, clipboard or screen. The technology is already being considered for use in restaurants, hospitals and onboard airplanes.

Whether its right for your business will depend on how you it can add value to your customers. Without a though out purpose, it can quickly become an expensive impulse buy.

NEW! Morris Finance now offers Insurance.

In a continued effort to increase convenience for our clients, Morris Finance will now offer insurance options for new and existing clients. By bringing more services under one roof, we will achieve a faster, more efficient application and settlement process for vehicles and equipment.

The following is a breakdown of some of the popular insurance choices we now offer. For a comprehensive breakdown, or a specific enquiry, please feel free to contact our New Business Specialists.

Motor Vehicle Insurance
Insure your vehicle against accidental damage, fire or theft. This cover protects you for up to $20 million in claims made against you, including damage to property, or other vehicles. Further benefits are also available, just ask our staff for the details.

Gapcover Insurance
Protection for the “gap” amount between your comprehensive insurer’s payout and the remaining loan balance on the vehicle. Applicable when the vehicle is classified as a total loss due to accidental damage, fire or theft. (Subject to policy benefit limits.)

Loan Protection Insurance
Cover to protect your loan repayment obligations in the event that you become involuntarily unemployed, or unable to work due to sickness or other unexpected circumstances.

Purchase Price Insurance
Protection for the difference between your comprehensive insurer’s settlement and the price you originally paid for the vehicle. Applicable when the vehicle is classified a total loss due to accidental damage, fire or theft. (Subject to policy benefit limits.)

Contact us for more information.

Both Sides of the Mining Tax

The introduction of the Resource Super Profits Tax (RSPT) has ignited a media war which has obscured the real facts and motives behind the scheme.

Since the government is now in talks with mining industry heads to review the new system, it shows that the miners have some legitimate concern. Treasurer Wayne swan admitted that some very high profit mining companies will indeed pay up to 58% tax, but maintained that the Australian mining industry will remain profitable.

Miner’s Concerns

Not all minerals are equally profitable and quarries with high commodity low value resources will be hit hardest.
The tax hurts the miners competitive advantage against countries like India and Brazil, predominantly for exports to China
The new tax structure will affect funding applications for new project
“Super” profit is considered anything over 6% return on initial capital investment: not far enough the average return of an average bank bond

Government’s Objectives

Low value commodity mineral miners taxes will only be affected if high profits are achieved
Profit system” follows the taxing evolution already adopted by many developed countries as a more fair distribution of funds than the current royalties system. In countries where the profit tax is lower, it is usually combined with other royalties schemes and different company taxation systems.
Current royalties system for natural resource industries makes it harder for new companies with marginal profits or losses to get in the game. The profits system will help small to medium sized projects to have equal funding opportunities.
Current royalties arrangements for private companies aren’t flexible with changing profit margins. The new system ensures a more fair return, with more profits resulting in a greater contribution.

Looking beyond the dramatic television ads, the new RSPT has actually won support of major economists and the heads of MCA (Mineral Council of Australia). The current negotiations will revolve primarily around the threshold considered to be “super” profits (currently at 6%). The 40% tax rate remains non-negotiable.

Compare the arguments for yourself at:
www.futuretax.com.au
www.keepminingstrong.com.au

End of Financial Year Tips & Checklist

Welcome to the last month of this financial year. We have gathered some useful information to help you and your business take advantage of any available tax strategies and maximise efficiency during this time.

The first, and most obvious, step is one that many businesses tend to overlook: Get your accounting books in order! This will allow you to clearly assess your tax exposure and determine what exemptions and deductions you can claim.

Once you have done that, investigate the following options to find out if your business is eligible:

R&D Tax Credit

45% Refundable tax credit (more benefit for smaller businesses).
40% Standard tax credit (more benefit for larger businesses).

Criteria: aggregated turnover less than $20 million p.a.
Read our earlier article or visit www.innovation.gov.au for more information.

Export Market Development Grant

50% grant of promotional expenses.

Criteria: Annual income under $50 million and promotional expenditure over $10,000.
* First time applicants can combine previous years expenses to meet the $10,000 requirement.
View applications forms & facts.

Tax Back on Business Assets

50% tax back on for tangible assets acquired before December 31, 2009.

Criteria: Under $2 million turnover. Asset must be ready to use by December 31, 2010.

30% tax back for tangible assets acquired before June 30, 2009.
10% tax deduction for all other investments.

Criteria: all businesses with turnover above $2 million.

Entrepreneurs Tax Offset

25% tax offset on payable tax.

Criteria: turnover under $75,000.
More information on the ATO website.

Division 7a - Loans

Loans or payments to Shareholders could be considered unranked dividends (Shareholders get taxed).
Avoid tax: make all new loans under a complying agreement or repay before lodging company tax return.

We also found a great Checklist combined by independent accounting consultant, Sophie De Sommerville.
Dowlnload Checklist.

Morris Finance will be fully staffed during this month to handle all questions and finance inquiries.
Please feel free to contact us.

Important Accounting Dates for June

Luckily, this month there is only one lodgment date to be aware of - leaving you plenty of time to get your finances in order for the end of this financial year.

21 Jun 10

Activity statements
May 2010 monthly activity statements: final date for lodgment and payment.

30 Jun 10

End of financial year.

For more information visit ATO.

RBA Keeps Interest Rates at 4.5%

Finally, a pause.

The Reserve Bank of Australia announced they will not be raising interest rates this month. The cash rate remains at 4.5%, but economists are speculating it will be back on the move before we know it.

View the RBA Media Release.

Advanced Car Features

Over 80% of Australians travel for work or business by car, with Sydney and Melbourne having the highest commute times. To appeal to the commuter population’s need for comfort and convenience, car manufacturers have developed new features and improved existing options. Features previously limited to luxury cars are now more affordable, and available from the majority of manufacturers.

Common Useful Features:
Satellite Navigation
Hands Free Phone Integration
Extensive Stereo Controls on Steering Wheel
Satellite Radio
Multiple AV outlets

We also came across some less know technological innovations that we hope will become mainstream in the near future.

Personal Car Communicator
Several years ago Volvo started to develop their safety technology to address personal security concerns of drivers. The new Personal Car Communicator (PCC) is an advanced, pocket sized controller which provides a range of information about the car through LED light signals.

Did I lock the car? The PCC will be able to tell you if the car is locked or unlocked. It remembers the last locking action (whether by remote or internal lock). So even if you are no longer near your car, the PCC will tell you whether it is locked or unlocked.

Intruders Heartbeat Sensor: Volvo has developed a heartbeat sensor built into the car. When you are within 60-100m from the car you can press the info button which will flash red if the heartbeat sensor has been activated and there is someone inside the car.

Light the way: When approaching the car, you can use the PCC to turn on all the lights (including interior lighting). This is useful to when approaching the car at night and a handy trick to find your car in a poorly lit parking lot. When leaving the car, you also have the option to leave lights on for 30-90 seconds lighting the way while you make your way inside.

Other Info: Options include a level meter, which alarms you if the car has been raised in an attempt to steal the wheels. Extensive locking controls enable you to program the car so it locks automatically after 30 seconds of moving. This ensures peace of mind for travellers in unsafe areas.

Night Vision
Commuting frequently through rural areas? Several car manufacturers offer a night vision monitor allowing you to see people and animals over 300m ahead. Using a front mounted infrared camera, images can display on a mounted screen or in your navigation device.

Blind Spot Monitoring: While parking sensors have become fairly common, the new feature emerging among manufacturers like Ford and Holden is radar technology for blind spots. The sensor notifies drivers of a car in their blind spot with a light in the side mirror, and well as an alert when activating turning signals.

Morris Finance deals with a variety of manufacturers and vehicle types. As well as finding the best rates, our specialists can often provide useful information about the vehicle category of interest. If you are considering a new vehicle, contact one of our New Business Specialists to get started.

Federal Budget for You and Your Business

Last week, Wayne Swan presented his third Federal Budget. There were no major surprises, since most benefits affecting small businesses were disclosed during the Henry Tax Review. Overall, the budget was tame and conservative as predicted, with the government clearly focused on one goal: to get Australia back into surplus as quickly as possible.

How it affects Businesses

Tax reduced from 30% to 28%. Affects small businesses 1 July 2012. For larger companies tax will gradually reduce down to 28% by 2015.
Depreciable assets of up to $5000 (up from $1000) can be immediately written off for small businesses
$660 million for training and apprenticeships
Transport industry to benefit from a planned spending of 5.6 billion on infrastructure in the next decade. This is funded by the Resource Profits Tax, and will commence with a $700 million fund n 2012.
Infrastructure spending to aid residential developers in rapidly expanding areas and speed up building process
Interest withholding tax phased down from 5% to 0% by 2012 in an effort to increase competition in banking centre
Crack down on compliance issues especially in the cash industry where business will face more frequent and strict checks, limiting the chance of tax evasion.

How it affects Individuals

1 July 2013: The superannuation guarantee (SG) rate will increase gradually from 9% to 12%
1 July 2011: 50% less tax on investment interest up to $1000
1 July 2012: work related expenses, including managing taxes, can be claimed up to $500, increasing to $1000 by 2013
Australians over 60 receive unlimited tax free income from pension investments

Programs & Services Initiatives

Renewable Energy Future Fund will help businesses become more energy efficient
Apprentice Kickstart Program to get 22,500 apprentices to SMEs
New National Business Registration system meant to save small businesses up to 1.5billion over the coming 8 years by easier search and access to regulation and requirements changes
Businesses Mediation Services will receive increased funding, especially beneficial for franchisees

Wayne Swan praised the Australian economy which remains among the strongest in the world. To continue the positive momentum, the government will focus on saving rather than spending. The government expects the economy to be at a $2 billion surplus as soon as 2012-13. An impressive feat, seeing as the current fiscal deficit is estimated at $39.6 billion.

To find out more about the government’s plans and timelines, visit the comprehensive website, appropriately titled budget.gov.au.

NAB and the Commonweath Bank have both been busy reviewing every detail of the budget and condensing it into easier-to-read data. You will find it conveniently broken into sectors, so you can choose reading material accordingly.
NAB Budget Reviews
CBA Budget Reviews

With most changes taking affect after 2010, you have plenty of time to catch up on your reading. Morris Finance will continue updating our clients on the government’s latest moves.

Henry Tax Review Benefits Cashflow

Treasury Secretary Ken Henry recommended that small businesses should be able to claim purchases of up to $10,000 in full the year they are acquired. The government has taken this suggestion on board, but reduced the purchase amount to $5000. If the plan is passed by the parliament, small businesses will be able to take advantage of this new system as early as July 1st 2012.

Cash flow Benefits
This new way of claiming back tax will help small businesses maintain their cash flow when acquiring business assets. With the aid of finance, small businesses can distribute the cost over several years, while getting the full tax benefit in the first year.

An example of this is a business that updates five computers each costing $4000 and a printer/copier costing $4500. If this purchase was financed via a chattel mortgage, over four years at an interest rate of 9 per cent with no residual, the annual cost would be approximately $7260. At a tax rate of 30 per cent the saving made in the first year would be $7350. (source: theage.com.au)

If you would like to find out more about Chattel Mortgage facilities or other options that will enable you to take advantage of the new tax rules, talk to one of our new business specialists today.

Interest Rates up to 4.5%

The Reserve Bank lifted interest rates today for the third consecutive month. The cash rate is now at 4.5%, with Glenn Stevens stating that it is finally at “average levels.”

This means an additional $50 per month for Australians with a $300,000 25 year mortgage.

Rates are now higher than they were at the end of 2008 and economists are finally tipping a pause for the hikes in June, according to The Age.

Henry Tax Review

While most Australians were enjoying a sunny weekend, the government was behind closed doors in Canberra, preparing a response to the Henry Tax Review. The policy was released on Sunday May 2nd, in what was rumored to be the biggest tax-related event of this generation.

The GAIN:
The aging and low income population sectors will benefit form the review’s changes. Small businesses were also given something to celebrate.

SUPERANNUATON: The age restriction increased from 70 to 75. Australians over 50, who have less that $500,000 in super fund, will be given a concession rate to contribute and additional $50,000.

INSTANT WRITE-OFFS: Small Businesses will be able to claim the full amount for new assets worth up to $5000 in the same year they’re acquired.

The PAIN:
Miners were hit the hardest, but companies are also winging with higher contributions and no significant tax cuts.

40% TAX on profits form mining companies

SUPER CONTRIBUTION from employers to be lifted to 12% by 2020, benefiting workers but burning companies and impacting salary negotiations.

CORPORATE TAX: The 30% corporate tax rate will be reduced by 2% in 2015. A disappointing alternative to the proposed 25% corporate tax structure.

Overall, the government’s much anticipated response was relatively tame. Out o the 138 recommendations by Treasury Secretary Ken Henry and his team, less than 2 were fully adopted. Here are some of Henry’s suggestions that the government has skipped over:

congestion taxes on toll roads and mass-distance-location pricing for heavy vehicles, so that big trucks pay for their wear and tear on roads.
a more fair, volumetric based tax system for alcohol
40% discount to individuals for net interest income, residential rent and capital gains
a national land tax of 1% applying to all land regardless of use
removing Medicare levy

Read more about the government’s limited response to the Henry Review on the Business Spectator.
Or visit the official treasury website for the full documents.

Important Accounting Dates for May

Below are the accounting dates you need to be aware of for this month. For more information visit ATO.

12 May 2010

Activity statements
Quarter 3 (January - March 2010) activity statements: final date for electronic lodgment and payment. Refer to Lodge your activity statements online for information on your eligibility for this later due date.

21 May 2010

FBT return
Due date for lodgment of 2010 FBT return and payment if required.

Activity statements
April 2010 monthly activity statements: final date for lodgment and payment.

28 May 2010

Superannuation
Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) (if required contributions were not made by the due date) for quarter 3 2009-10 (1 January - 31 March).

The SGC is not tax deductible.

Flight Ban Recap: Ailines lose $1.7 Billion

Last Wednesday, flights over Europe resumed following 5 days of closed airspace over Europe due to the eruption of an Icelandic volcano. This was the largest disruption in air space traffic since the terrorist attacks in US on September 11, 2001.

Airlines are far from being in the clear, with tough weeks ahead restoring schedules and tallying up the losses. Qantas CEO Alan Joyce estimates that the airline was losing $1.5 to $2 million per day during the closure, totalling at least $10 million so far. The only “gain” from the chaos seems to be a small opportunity for some positive PR. The CEO emphasized that “the large bulk of this cost we have incurred in looking after our passengers, which amounts to $700,000 a day.” Joyce also stated that Qantas will not lift fares in an attempt to recover losses from the disruption. Meanwhile BA has been rumoured advertising economy fares for $12,000 London to Sydney.

Who Suffered?

$1.7 billion approximate total loss for global airlines, with Singapore airlines suffering the worst financial damage
6 million passengers were directly affected, with at least 3 more weeks of disrupted schedules and full flights
No compensation: many passengers will not receive compensation for expenses during the disaster, with volcanic eruption classified as an “act of god” by many insurance policies.
Perishable Goods producers who rely on air freight for fast transport were not able to save their goods.
Manufacturing was disrupted. Nissan stopped production for a full day because they could not import components.
Events such as the MotoGP in Japan have been called off due to stranded equipment and team personnel

Who Benefitted?

Accommodation: hotels had an influx of traffic paying premium, last minute rates. In Hong Kong, high demand pushed prices up to $4000 per night.
Alternative transportation providers benefitted from passengers flocking to trains and buses to get home.
Car Hire companies continued to charge regular rates, but made money from customer’s fees that were forced to keep cars longer during the air ban.
Fuel Savings of $110 million a day for airlines was a minor benefit in comparison to the losses
Students on school trips welcomed the excuse to extend their sightseeing.

Coming Weeks
To restore schedules, airlines will prioritize original bookings with any leftover seats going to stranded passengers. Larger planes will be used on some routes to increase capacity, and clear airports. Airlines, particularly in Europe, will be attempting to receive compensations from the government, claiming that the ban was excessive and prolonged the damage.

ANZAC Day

Morris Finance will be closed on Monday, April 26th 2010 for ANZAC Day.

We wish all our clients and their families and happy and safe long weekend.

As a proudly Australian company, we are encouraging all our staff, clients and their families to help celebrate the achievements of our nation by supporting local events.

In Geelong, the ANZAC Day Parade will commence on Malop Street outside Office Works at 11.00am and proceed along Malop Street, left into Gheringhap Street and concludes in Johnstone Park for a Commemorative Service.

For other locations, and a full schedule of services and events please visit the Council Website.

Bubble Trouble

The housing bubble worries have been brewing for some time now, especially after prices soared over 13% last year. However, on March 29th RBA Governor Glenn Stevens brought those worries to the surface with his first ever TV interview on the Sunrise Morning Show.

Stevens’ choice to emphasize his concern over the ballooning house prices in such a public way should be taken as a warning. After all, the man who essentially controls interest rates is telling us that they will continue going up until more people are sitting down at auctions. "Once the emergency has passed and things gradually look more normal, it's not wise to leave interest rates right down at rock bottom any longer than you need... you shouldn't assume they'll stay that low because that assumption will prove to be unfortunate."

Treasury secretary Ken Henry also voiced concerns that investors, frustrated with unreliable superannuation systems, are treating the property market as a safe haven.
In his interview, Stevens echoed Henry point: "I think it is a mistake to assume that a riskless, easy guaranteed way to prosperity is just to be leveraged up into property. It isn't going to be that easy," he said.

The rest of the world has faced a harsh realisation that property is an investment and therefore a risk. Sometimes, a bigger one than you bargained for. The US may be the most recent and drastic example, but it is not the only one.

US houses are now at 1970s prices
German house prices have been falling since 1991
The Swiss endured 11 years of dropping prices in the 90s and are still recovering
Japan’s prices began to drop 15 years ago and are still falling

This explains why the Japanese are not flooding the Australian markets like the Chinese investors, although both have borrowing rates below 2%. Many japanese investors have been burnt and are no longer disillusioned about the safety of property investment. On the other hand, the Hong Kong and Australian house markets remain one of the few to continue booming. The question is, for how long?

Although it is still possible that the bubble will burst, a slow deflation is more likely. Demand will be curbed by rising interest rates and falling loan approvals. CBA’s chief economist Michael Blyth believes Australia is on the verge of significant housing supply which will also relieve the demand.

For now, since the future of “the bubble’ remains hard to read, it may be wise to follow the RBA’s advice and stick to the cautious side.

Revised R&D Credit Benefits SMEs

Here is the recent timeline of changes and amendments affecting the Research and Development Tax Credit Scheme:

December 2009:
The government puts forth a first draft of proposed changes to the Research & Development Tax Credit. This is followed by heavy criticism, mainly caused by the new definition of eligible activities.

Old legislation stated that activities deemed “innovative” or “risky” qualify for the credit. According to the first draft, companies would now have to satisfy both criteria to apply for the credit.

February 2010:
In response to the proposed changes, and resulting outcry, the Australian Industries group steps up to the plate, releasing “Remedies for the proposed R&D Tax Credit Scheme”:

Here are the highlights from the group’s report:

AIG questions the reasoning, and consequences of forcing companies to justify activities as both innovative and risky, instead suggesting to shift the focus to dealing with inappropriate claims.
New accelerated depreciation program for environmentally “green” capital investments
Recommendation for new program to up-skill employees for “sustainability” and more support to kick start apprenticeships
Funding for TradeStart Export Advisors who are a key support for SMEs

During the media release, AIG Chief Executive Heather Ridout voiced the group’s concerns regarding the government’s first draft: “if enacted, the incentive for industrial R&D would be substantially reduced. In so doing, it would slow business-led productivity improvements and future economic growth. Reversing the positive trend that has occurred in Business Expenditure on Research & Development (BERD) in Australia over the past twenty years would be a most unfortunate outcome. Australia continues to lag the OECD average on this important indicator and should be making every effort to close this gap.”

March 31, 2010:
The government releases its second exposure draft, revealing the Treasury’s decision to abandon the initial changes in favour of a new, much broader eligibility definition that will be easier for SMEs to understand and access.

Instead of classifying activities as “risky” and “innovative”, the new draft states “activities must be experimental whose outcomes cannot be determined in advance… and must use a systematic progression of work that is based on existing scientific principles. [The activities] must be conducted for the purpose of generating new knowledge (including knowledge about the creation of new or improved materials, products, devices, processes or services)".

Already, there has been some initial backlash, particularly from Pricewaterhouse Coopers, saying that the new definition will prevent businesses from claiming R&D expenditures to improve existing products.
Yasser El-Ansary, tax counsel at the Institute of Chartered Accountants in Australia, has worked closely on the report and defends the changes: “The package is a significant leap from where we were in December 2009. It's clear the Government is focused on rebalancing and retargeting the R&D tax credit for the SME market, rather than the big end of the market. It's much broader than it was before and not only that, it's much easier to understand. That's one of the objectives here – to make the R&D tax credit more user friendly."
He acknowledges the PWC concerns but maintains that the Government’s decision to focus on core R&D spending is partially in response to businesses that “push the boundaries” in terms of what constitutes as appropriate research/development under current laws.

“The reality is that there will be a narrowing of the eligible expenditure. I don’t think that’s an accident.”

View the full second draft for the proposed R&D terms for more details. You can also speak to one of our advisors if you’re considering financing equipment and machinery for research purposes.

Interest Rates Rise to 4.25%

The Reserve Bank lifted interest rates to 4.25%, a 25 basis point increment since last month’s rise. This marks the 5th cash rate increase since October 2009, with the average monthly mortgage bill going up around $200.

The RBA cited similar reasons for their decision as in previous interest hikes:

The world GDP is expected to close at trend pace this year
Asian financial sectors are not impaired, leading to strong growth and demand for raw materials.
Concerns regarding foreign debt issues seem settled for now
Inflation has declined and is expected to be consistent with target in 2010
Interest rates are still over than average

In the minutes from previous months’ meetings, RBA Governor Glenn Stevens warned that rates will continue to rise through the year. The message is don’t get too comfortable at 4.25%, as it might not last long.

Best Gadgets of 2010

The world of technology is bursting at the seams with its latest wonders. The 2010 Consumer Electronics Show featured some of the coolest toys for today’s business professional. Here are the gadgets that we’re keeping our eye on:

Asus Eee Keyboard PC:
As the name implies, this is a fully functional PC built into a keyboard. It features a small built in screen which doubles as a touch pad to control apps or complete tasks while on the move. Choose the wired or wireless option to connect to any nearby screen and you’ve got a portable media centre at your finger tips.

Apitek Pocket Cinema:

The key feature of this pocket sized device its inbuilt projector, allowing you to share your images, videos or presentations on any flat surface. It’s also capable of recording HD videos and capturing 8MP photos.

Plastic Logic QUE Pro Reader:
Competition for digital ‘pads’ is getting more intense, from the iPad to Amazon’s Kindle, but Pro Reader is first to target working professionals. With a shatter-proof 10.7” screen, 8GB of memory, WiFi and Bluetooth, it’s definitely road worthy. The point of difference is that its display mimics the print version of the reading material in colour, texture and layout. It’s already won support from the likes of Wall St. Journal and Fast Company.

4G Phone Era:
The highly anticipated release of 4G (fourth generations) phones will overshadow the stir created by the Google Nexus at the start of 2010. 4G phones promise data transfer speeds of 100Mbps, compared to current phones which offer a max of around 384 Kbps. In real world terms, this means you would be able to download a full length DVD movie in about one minute.

Ford MyKey:
A new system designed to put parents at ease while the kids are borrowing the family car. MyKey will allow parents to limit audio volume and restrict speed, encouraging safer driving and better fuel economy. The feature will debut this summer with the release of the 2010 Ford Focus. 75% of parents polled liked the system’s features, and over 50% said they would allow kids to use the car more frequently if it had MyKey. Not surprisingly, 67% of teens said they wouldn’t want the system in their car. However, if it meant greater driving privileges, most teens reluctantly accepted the MyKey features.

Important Accounting Dates for April

Here are the important accounting dates from the ATO to keep your business compliant throughout April:

APRIL 2010

21 Apr 10

Activity statements
March 2010 monthly activity statements: final date for lodgment and payment.

Quarter 3 (January - March 2010) activity statements containing a monthly GST obligation: final date for lodgment and payment.

Quarter 3 (January - March 2010) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidated group.

28 Apr 10

Activity statements
Quarter 3 (January - March 2010) activity statements: final date for lodgment and payment.

PAYG instalments
Quarter 3 (January - March 2010) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment (two-instalment payers are required to pay 75% of instalment liability by this date).

GST instalments
Quarter 3 (January - March 2010) instalment notices – forms S and T. Final date for payment and, if varying the instalment amount, lodgment (two-instalment payers are required to pay 75% of instalment liability by this date).

Four-instalment payers to pay a further 25% of their instalment liability.

Superannuation
Last day for superannuation guarantee contributions to be made to a superannuation provider for quarter 3 2009-10 (1 January - 31 March).

If an employer does not make the minimum superannuation guarantee contributions for quarter 3 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) with the Tax Office by 28 May 2010. The SGC is not tax deductible.

30 Apr 10

Superannuation
Lost member report for the period 1 July 2009 to 31 December 2009.

Visit the ATO official website for more information.

Easter Trading Hours 2010

Who's Buying What?

The various demographics of Australia reacted differently to the economic downturn. CBA’s new Economic Vitality Report “Viewpoint” looked at spending trends over the past year.
Chief Economist Michael Blyth commented that “contrary to many perceptions, the GFC had a divergent impact across different age groups in terms of perception as well as income and spending patterns, including the effect on employment, disposable income and consumer confidence.”

Youth Hit Hardest, but most optimistic.
A key finding was that younger Australians aged 18-24 were hit hardest by the crisis, yet retained some of the highest confidence levels. Full time employment in the age group dropped 8.9%, much higher than the 0.5% drop experienced by the overall population.
This was caused mainly by older generations remaining at work instead of retiring, due to damaged supers.

The older they get, the more they spend.
It was the older generations that recorded the highest increase in spending.
Demographics aged 65-74 recorded an increases of 28.2%.
Those aged 75-80 increased spending by a whopping 46.8%.
Although the increase is partially accredited to the pension in raise in mid 2009, the trend is likely to continue as Australia’s population keeps aging.

What we bought more of…
Based on ABS statistics and a recent CommSec report by Craig James, here are the top 10 categories that saw an increase in spending over the past year:

Boats, Caravans, Bikes
Water and Sewage Fees
Sporting/Recreational
Electricity, Gas, Fuel
Medicine
Audio Visual
Beauty Salons
Entertainment Admissions
Water and Transport
Housekeepers, gardeners etc.

39.1
17.7
16.9
14.0
13.6
13.2
12.6
10.9
10.7
10.4

* Percentages based on comparison with previous year.

Consumer and business confidence levels continue to follow the same trends, both rising steadily.

Read the full CommSec article and introduction to Viewpoint.

Do you dread the Business Plan?

“Running or starting a business without a business plan is like walking through the dark without a torch. You can probably go a long way using just your senses and relying on basic instincts. But operating in such a manner leaves you wide open to the risk that something will get in your way (like a competitor) and you probably won't see it until it’s too late. And just imagine all of the opportunities that are just waiting to be grasped - but without a torch (or business plan) how will you see and take advantage of them?”

With all the recent changes in the economy, it is a good time to pull out your business plan and give it a thorough evaluation. It is a common misconception that business plans are one of those nuisances that have to be checked off the “to-do’ list when you first start your business. In fact, many businesses start and function without a plan.

However, even if you’re already running a successful business, formulating your thoughts and objectives into a plan will undoubtedly shed some light on areas you haven’t considered. It’s also a great idea to involve your staff, as they may know the consumer more intimately and be able to provide insight into market trends.

If you just can’t bear the thought of document writing, make it an informal session. Here are some key topics and questions that we would suggest for discussion:

Your Services:

Outline the products/ services you currently offer
What is your value proposition?
Do you compete on price or quality?

Your Target Market:

Who is your typical customer?
What problems are you solving for your consumer?
Can you create new or innovative ways to make your customer’s life easier?
Can you expand you services/products?

Your Competition:

Evaluate your competition by establishing their strengths, weaknesses and market share.
How can you use this to your advantage?
How have they come out of last year’s economic downturn?
What are your competitors doing differently? Why do customers choose them?
Are there any new competitors?

Moving Forward:

Evaluate your business: what’s working, and what isn’t?
Do you just claim to deliver a promise to your customers, or do you actually do it?
How are your customers changing?
How is the industry changing?

Now, write it down and create some objectives. Make some short and long term goals and write down things you can do to accomplish them. Be realistic. If you want to look more professional, but hate wearing suits, start with some company polos. Most importantly, don’t file the plan in the furthest drawer. Revisit it often, and stick to the changes you decided to make.

Here are some helpful links to get you started:
A five step Business Plan from Commonwealth Bank
Templates and Checklists form business.vic.gov.au

FWO Visits Clipsal 500 V8 Race

Earlier this year, the Fairwork Ombudsman inspectors announced that they will conduct 50,000 workplace visits throughout Australian businesses. This shocked and created some uneasiness with most SME’s.

However, chief FWO officer Bill Loizedes was quick to respond ensuring that the visits “are meant to be non-confrontational and they are educative." He assured businesses owners across Australia that inadvertent or even deliberate breaches of the law will likely result in a friendly chat, with legal action being a last resort.

Their primary interest throughout this campaign is NES (National Employment Standards) and ensuring all workers are getting the minimum wages, obligations and working conditions to which they are entitled.

On March 5th, the FWO announced a new tactic to help them focus on NES compliance. They will be targeting major events across Australia starting with the Clipsal 500 V8 Supercar series that runs March 10-15th. These events generally involve a lot of casual and youth workers and inspectors will be checking wage records and time sheets for appropriate shift and break times. In cases where there is an issue, the FWO officers will notify the stall owner and encourage them to fix the problem voluntarily. However, where deliberate foul play is suspected, a full audit may be launched.

Following the main events, the inspectors will be heading to the surrounding restaurants, cafes and entertainment venues. Unions and businesses in the targeted areas have been warned.

Want the full details about the Clipsal500 visit? Read the official FWO Media Release.
Or, find more information and upcoming plans on the FWO website.

Commercialisation Grant Accepting Applications

The government’s Commercialisation Australia grant is now accepting applications. Although economic concerns may have overshadowed the scheme’s commencement in January, businesses are rapidly starting to take notice of this opportunity now that 2010 is well underway.

The grant is filling the void of the Commercial Ready program that was cancelled during budget cuts in 2008. This new program comprises of $196.1 million funding dollars until 2013, and 82 million for each year thereafter.

Competition is expected to be fierce, with demand that has accumulated over 2 years without funding in this area. However, the merit-based program's payoff is worthwhile. Up to 2 million dollars is available for companies to boost new products or services.

The programs consists of 3 major components:

Skills and Knowledge support to help build the skills, knowledge and connections required to commercialise new ideas.
• Up to $50,000 to pay for specialist advice and services
• Up to $200,000 over two years to assist with the recruitment of experienced executives
Proof of Concept grants of $50,000 to $250,000 to test the commercial viability of a product, process or service
Early Stage Commercialisation repayable grants of $250,000 to $2 million to develop a new product, process or service to the stage where it can be taken to market.

Eligibility
There have been some businesses that have made the mistake of applying for the grant to use towards marketing or sales plans for existing products. This confusion may be due to the name, which would be more accurate if called the Pre-Commercialisation grant, since funding is intended primarily for innovation and product development.

Some eligible expenditures include:

Product development
Testing and documentation
Tooling-up for full scale production
Market validation
Execution of IP strategy

The grant is open for non tax-exempts companies; for more specific details and alternatives, visit the www.commercialisationaustralia.gov.au.

Interest Rates Rise to 4%

A media release was issued at 2:30pm to announce that the Reserve Bank of Australia has raised the cash rate by 25 basis points to make it 4%.
This change will be effective tomorrow, March 3rd 2010.

Several factors contributed to the board’s judgment to increase rates:

National conditions in 2009 were not as tough as predicted
Unemployment rates peaked lower than expected
Economic growth has been close to trend since the start of the year
Lenders are relaxing policies to allow for easier borrowing
Investment in natural resources is strong

The first 2 months of 2010 show that foreign economies are stronger, and the world GDP is expected to rise and close at trend pace at the end of 2010. As a result, governments around the world are withdrawing stimulus packages and lessening the degree of financial support.

The board reiterates that “interest rates to most borrowers nonetheless remain lower than average. … With growth likely to be close to trend and inflation close to target over the coming year, it is appropriate for interest rates to be closer to average. Today’s decision is a further step in that process.”

Read the full press release.

Reserve Bank Meeting Today

The Reserve Bank Board meeting will be held today at 2:30 pm AEST in Sydney. To raise or not to raise interest rates is the question Australia will be waiting for.

Check back to the Morris Finance News section for any updates and outcomes of the meeting.

Important Accounting Dates for March

As promised, Morris Finance will continue to post monthly accounting dates to help keep your business compliant.

March 2010

21 Mar 10*

Activity Statements
February 2010 monthly activity statements: final date for lodgment and payment.

31 Mar 10

Income tax
Income tax return and payment for superannuation funds with total income in excess of $2 million in latest year lodged (excluding large/medium business taxpayers).

* Denotes lodgment or payment may be made on the first business day after the due date.

For more information, visit the official ATO website.

Government Grants

Many people underestimate the financial resources available for Australian businesses. There are state and federal grants for all industry sectors; you just need to find them!

We have listed some that may peak your interest, but you can do an easy search online using the government’s thorough Grant Finder Tool.

Apprenticeships

The government provides funding starting from $1250 as an incentive for businesses to take on apprentices. In high demand professions, the amount can be up to $4000. There are also additional incentives for rural areas, as well as hiring youth and mature apprentices.
Visit www.australianapprenticeships.gov.au for more information or to apply.

Fuel Tax Credits

As of 2009, the eligibility criteria for fuel tax credits was broadened to include vehicles and equipment from lawn mowers, to bobcats and forklifts.

You can also claim fuel tax credits if you are a:

• householder using fuel to generate domestic electricity
• non-profit organisation not registered for goods and services tax (GST) and operating emergency vehicles or vessels.

Get more information on the ATO website.
View the Complete Guide.(PDF)

Export

The grant aims to help Australian exporters by reimbursing up to 50% of expenses such as samples, logistics, communication, reps and tradeshow fees. The funding was increased by 50 million in 2009, and the minimum amount you need to spend to qualify was cut down to $5000.

Get more details online at Export Market Development Grant

There are also assistance programs that are specific to each state. Check out the state websites for more details:

VIC: www.business.vic.gov.au
NSW: www.business.nsw.gov.au
ACT: www.business.act.gov.au
QLD: www.business.qld.gov.au
WA: www.smallbusiness.wa.gov.au
SA: www.southaustralia.biz
WA: www.wa.gov.au/governmentservices/business
TAS: www.service.tas.gov.au

Morris Finance can help you arrange the remaining funds needed to implement the grant money into your business venture. Just contact one of our staff members for more information.

Seasonal Cashflow Crisis

The post-festive season is upon us, and it doesn’t come bearing gifts. During the three months following Christmas, businesses often experience delayed payments and a strained cashflow, leading to 1095 insolvencies in March of last year.

Unfortunately, there is no single factor to blame. With summer holidays, absences of key staff and fewer trading days in December/January, people aren’t getting paid, and therefore neither are their bills!

If you hadn’t prepared in advance for the tight months, there are still some tips for your business to maintain control until the money starts rolling again:

- Try to get through to your larger and prompt-paying customers first. Consider offering a discount for early payments so that you have some cashflow.

- Assign someone to the phone to contact all debtors. This way, you’ll be at the front of the line when bills finally start getting paid.

- Minimise inventory replenishments and buy only what you absolutely can’t live without for the next 2 months.

- If you can’t make your payments and are unable to postpone, consider finance options, such as invoice financing, to get you through until the cashflow resumes.

Remember, this is bumpy time for most SMEs, so your best bet is to run lean, keep on top of your debtors and maintain the good standing of your business.

ATO Warning: Home Loan Scam

The Australian Tax office published a media release on December 22nd 2009 regarding Sham Mortgage Arrangements. This may be especially relevant now during the financially tight post-Christmas months. Since mortgage repayments are a significant financial burden, scams that promise to help pay them off faster can be very attractive.

ATO advises that under normal circumstances, home loan repayments, and their relative interest, are not tax deductible. Therefore, any scheme promising to avoid interest, through refinancing and third party investments, will face close scrutiny and hefty fines from the ATO.

“These arrangements are essentially about people refinancing their home loan and establishing what appears to be an investment loan to fund the purchase of shares in a bogus company,” said Mr D’Ascenzo, the government Tax Commissioner.

D’Ascenzo also commented that the ATO is contacting 140 people already involved in such arrangements, and urging anyone else to come forward. People that voluntarily contact the ATO before they get audited will be entitled to a reduction in any penalties that may otherwise apply.

You can contact the ATO for more information about this matter on 1800 177 006.
Alternatively, visit the media release on their website at ato.gov.au.

National Car Sales Up 3.3%

Last week, the Australian Bureau of Statistics released the seasonally adjusted data for 2009 car sales. The figures show that sale of new cars rose by 3.3% with a total 89,741 vehicles sold. Toyota had the highest sales last year, while the Holden Commodore remained the most popular car for the 14th year in a row.

According to CommSec, car affordability is the best it has been in 34 years. The ABS results show that several popular car models, such as the Lancer and Corolla are actually cheaper now then in previous years.

The strong Australian dollar and increasing foreign competition has prompted car dealers to drop their prices. In additions, as of January 1st import tariffs have been slashed from 10% to 5%, resulting in further price reductions, notably from Honda, Mazda and Porsche.

Although the government stimulus boosted sales in 2009, a healthier job market and the recovering economy will ensure the industry’s profitability in 2010. CommSec is expecting sales to continue to rise, reaching an 8% increase this year.

Interest Rates to Remain at 3.75 %

The Reserve Bank of Australia has kept interest rates on hold at 3.75 percent today, delivering surprise relief for cash-strapped homeowners.

The RBA had been widely expected to hike rates by 0.25 percent - which would have piled an extra $60 on to the monthly mortgage repayment bill for variable rate customers with a $400,000 loan.

The surprise move to keep rates on hold follows an unprecedented three consecutive rate rises from the RBA. Glenn Stevens, governor of the central bank, said today it was still too early to see the effect of the earlier rate hikes.

“With the risk of serious economic contraction in Australia having passed, the Board had moved at recent meetings to lessen the degree of monetary stimulus that was put in place when the outlook appeared to be much weaker,” he said.

“Lenders have generally raised rates a little more than the cash rate over recent months and most loan rates have risen by close to a percentage point.

“Since information about the early impact of those changes is still limited, the Board judged it appropriate to hold a steady setting of monetary policy for the time being,’ he added.

Earlier this morning Prime Minister Kevin Rudd fuelled fears of a rate rise by urging the Big Four banks to temper their reaction to any rise from the RBA.

"Let's face facts, any increase in interest rates has an effect and hurts working families, that's the truth of it," Mr Rudd told the Nine Network.

He asked the banks to follow National Australia Bank in promising to keep interest rate adjustments within any official rate rises.

NAB's promise, announced over the weekend, follows the public outrage sparked in December by three of the big four banks raising interest rates by more than the central bank.

Mr Rudd warned the banks today not to underestimate the impact of the public's attitude to rate moves.

Westpac slugged its mortgage holders with a 45 basis point increase following the RBA's 0.25 percent rise in December, while CBA and ANZ raised rates by 37 and 35 basis points respectively.

NAB however, matched the RBA's move and sought to poach new customers from rivals amid the public backlash.

RBA governor Glenn Stevens became the first central banker from the G20 to push up rates last year after the economy dodged a technical recession and began showing signs of a recovery.

Mr Stevens warned homeowners last year that as the economy rebounds, he would seek to haul interest rates back towards more normal levels – seen as around 5 percent.

Meanwhile, central banks in the US, the UK and Europe all continue to keep their benchmark interest rates at historic lows.

Announcing the RBA’s decision to keep rates on hold today, Mr Stevens warned that further rises were on the horizon.

"If economic conditions evolve broadly as expected, the Board considers it likely that monetary policy, will, over time, need to be adjusted further in order to ensure that inflation remains consistent with the target over the medium term,” he said.

Important Accounting Dates for February

As a convenience to our clients and site visitors, Morris Finance will be posting upcoming ATO Lodgement Dates at the start of each month. Check back for updates on these and other important news.

February 2010

21 Feb 10*

Activity statements
January 2010 monthly activity statements: final date for lodgment and payment.

28 Feb 10*

Superannuation
Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) (if required contributions were not made by the due date) for quarter 2 2009-10 (1 October - 31 December).
The SGC is not tax deductible.

Activity statements
Quarter 2 (October - December 2009) activity statements: final date for lodgment and payment, including electronic lodgments.

GST
Annual GST return (option 3) or Annual GST information report (option 2): final date for lodgment and payment (if required) if you do not have an income tax return lodgment obligation.

PAYG instalments
Quarter 2 (October - December 2009) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment.

GST instalments
Quarter 2 (October – December 2009) instalment notices – forms S and T. Final date for payment and, if varying the instalment amount, lodgment.
Four-instalment payers to pay a further 25% of their instalment liability.

Income tax
Income tax return lodgment and payment due date for self-preparing entities that were not due at an earlier date.

Income tax return lodgment and payment due date for large/medium entities and self-managed superannuation funds (taxable and non-taxable) that are new registrations.

Income tax return lodgment due date for large/medium business trust clients that were non-taxable in the prior year (includes new registrants).

*Denotes lodgment or payment may be made on the first business day after the due date.

Visit the ATO official website for more information.

Morris Finance Cinquante Wins Sydney 38 Championship at Audi Victoria Week

The skipper and crew of defending champion Cinquante went out on Corio Bay today determined to hang on to their narrow points lead in the Morris Finance Sydney 38 One Design Series at Audi Victoria Week.

'We were three points up on Another Challenge this morning and we needed to go out and do the right thing, keep our nose clean and not make any stuff-ups,' said Cinquante’s skipper Ian Murray after returning to Royal Geelong Yacht Club marina this afternoon.

'We had a long wait for breeze, but when it did come in, it built to 20 knots and was fairly constant; a lot better than the past two days.

'We sailed fairly conservatively and stayed in front of Another Challenge; we were third and they were fourth or fifth.'

'It has been very close racing, all of the boats have been within a few hundred metres of each other on the runs.'

In fact the racing in the ten-boat one-design keelboat fleet was so close that Another Challenge crossed the finish line today in a dead heat for fourth with Audacious. Although this was not enough to lift Another Challenge to the top of the overall pointscore, it did secure second overall for skipper Chris Lewin and his young team from Royal Brighton YC, just half a point clear of Challenge, the Sandringham YC entry skippered by 82-year old yachting legend Lou Abrahams and helmed during this series by Scott Walton.

Winning skipper Ian Murray praised his crew, including tactician Tim Davis and his stand-in for today, Brent Frankcombe. 'Tim had to fly to Singapore last night, but Brent finished racing yesterday in the Moth class series, so he came along today and did a great job.'

Murray, whose company Morris Finance is the series sponsor, has owned the Sydney 38 Cinquante for five years and said, 'It’s a good boat and we always keep our equipment and sails up to scratch. That way you don’t have breakages and it can also give you a small edge with speed, which makes a big difference when the racing is so close.'

Fourth overall was the Sandringham YC Sydney 38 Sierra Chainsaw (Mel Mollison), followed by Audacious (Greg Clinnick).

See "Ute" Out There!

The new Morris Finance Holden Utes are out and about.

Don’t hesitate to approach them – they won’t bite, or try to sell you anything!

They are branded vehicles used to promote our corporate image up and down the eastern seaboard of Australia - most of our business is down in this area.

The first Ute hit the roads in late 2008, after months of perfecting the design; it was a huge success!
We have since been overwhelmed with the amount of calls and emails that mentioned the new four-wheeled member of the Morris Finance Team.

The car’s growing popularity prompted us to acquire another Ute at the end of last year. You will now see both cars around town or in your local area.

The Holden Utes are part of an ongoing corporate image campaign that is evolving the Morris Finance Ltd. brand.

Morris Finance Signs on for 2010 Audi Victoria Week

Morris Finance Ltd has signed on as Class Sponsor and Event Partner for the 2010 Audi Victoria week. The event commences in Geelong, Victoria at the Royal Geelong Yacht Club on the 23rd of January 2010.

Audi Victoria Week is Australia's largest sailing event, first being held in 1844 and officially established in 1859. It is also one of the nation's oldest sporting events. Officials are expecting over 450 yachts, 4500 competitors and over 100,000 visitors from Australia and abroad for the four day event.

The partnership includes the naming rights of the Sydney 38 One Design category and will be known as the “Morris Finance Sydney 38 One Design Class Series.”

Audi Victoria Week is the ‘Melbourne Cup’ of the sailing world with seriously fast racing, a gala-like atmosphere and an abundance of waterfront activities and entertainment. It is a ‘must do’ event and the place to be in January.

The event is also close-to-heart for all at Morris Finance, with company CEO Ian Murray scheduled to compete in the Morris Finance Sydney 38 One Design Class Series aboard his yacht Cinquante. After winning last year’s event Ian is looking for a back-to-back result this year.

"Boat Manager and Crew Member Tim Davis has put a lot of time into getting the boat ready for the event and we are confident we are heading in the right direction of achieving this year’s goal," Mr. Murray said.

Having just completed in a successful Sydney to Hobart, Mr. Davis believes the team have the right ingredients to contest the championship series for another year which ends on Australia Day 2010.

Morris Finance will be in full flight at the event with give-aways and promotion staff in attendance. If you would like to come aboard and meet the crew please do so on any of the four days and you may even get a chance to experience what it is like to sail one of these racing yachts.

The first Race on the calendar for the team is the traditional Melbourne to Geelong passage race on the Saturday the 23rd.

We hope to see you there.

Making 'Cents' of Economic Data

As promised, we are following up on the release of several economic indicators. Australian Industries Group, the Bureau of Statistics and Census Australia released performance reports for manufacturing, trades and services, and well as new building approval data and home sales figures.

Below is a brief summary of the indicators:
(For more information about each indicator, view our previous post.)

Performance of Manufacturing Index (PMI)

The Australian Industry Group’s Index slipped 2.7 points, down to 48.5, putting it below the 50 point mark that separates expansion and contraction. According to the Group’s CEO, Heather Ridout, the decline confirms that the recovery of our economy remains patchy, most likely due to a weak global economy and rising interest rates.

Graeme Billings, PricewaterhouseCoopers Global Head of Industrial Manufacturing, had advice for Australian businesses, which will face competition from lower cost economies while our dollar remains strong:

“The key to successfully navigating these difficult conditions is a strong focus on cost and cash flow management," said Billings.

For more information visit www.aigroup.com.au

Home Sales Figures & Building Approval Data (Housing Industry Association)

The HIA figures show a slight 0.3% rise in home sales, with a 4.9% decline in the multi-unit sector grossly responsible for the modest result, according to the report figures. HIA’s chief economist Harley Dale predicts “tight rental market conditions over 2010.” However, he goes on to say that overall, “leading indicators are pointing to a recovery in new residential construction.”
Commsec’s chief economist Craig James echoes Dale’s positive outlook for Australia’s builders. Figures show that, “new approvals to build homes have risen by more than a third, while loans…to build new dwellings are at the highest levels in 15 years,” says James.

The reserve bank has already lifted rates 3 times, up to 3.75%, with a 50/50 chance of another hike in February. And, as more people feel assured with the recovery of the US, demand for new homes and renovation should advance.

For more information visit www.hia.com.au

Performance of Services Index

The Commonwealth Bank Index fell for the 9th consecutive month down to 39.5 points (far below the 50 point level indicating expansion.) with activity down in 8 of the 9 sub-sectors.
AIGroup’s CEO Heather Ridout commented that, “business-related, property and wholesale services are very weak, while consumer-related ones such as retail, were steady in December.” She continued to caution that although cafes and accommodation picked up during the holiday season, the index is not growing, “just contracting at a slower pace.”

Therefore, remain conservative, and have a good understanding of your cashflow needs.

International Trade & Retail Sales Figures

The Australian Bureau of Statistics announced a higher-than-expected 1.4% increase in sales across all retail industry groups. According to The Australian, previously surveyed economists were off by 1%, or with their average prediction of a slight 0.3% rise. The healthy sales fuelled the Australian dollar above US92 cents, leading up to the Reserve Bank’s first Board Meeting of 2010 next month. There is no definite indication that the bank will raise rates up to 4%, which would easily make it the highest rate in the developed world.

Visit Australian Bureau of Statistics at www.abs.gov.au

Overall, the results show a recovering, yet fragile economic climate at the start of 2010. However, particularly in the Australian economy, car sales continue to soar, and there is a rise in apartment approvals. This means that although major project approvals and large scale planning is held back by the weaker global economy, local markets are benefitting from consumer confidence. At Morris Finance Ltd., we are seeing this trend first hand with a continuing increase of new inquiries. Our advisors are always available to answer questions regarding finance for your business, working with your cashflow and industry conditions.

Kick Start 2010

The holidays give us all a chance to rest and relax, and get a fresh start to the New Year. The government is already running full steam with several big announcements and reports due to come out next week.

We’re giving you the heads up on these important dates, so that you can keep your business ahead of the competition.

Monday January 4:

Performance of Manufacturing Index (PMI)
The Pricewaterhouse Coopers PMI is a seasonal composite of Australian Manufacturing based on indices for production, new orders, deliveries, inventories and employments rates. If offshore manufacturing affects your business, take advantage of the report’s summary of other leading countries’ statistics. A PMI reading above 50 points indicates manufacturing is expanding; below 50 points that it’s declining.

For more information visit www.aigroup.com.au

Tuesday January 5:

Home Sales Figures (from Housing Industry Association)
The HIA’s Economic Group is Australia’s leading provider of housing statistics including industry conditions, emerging trends, future scenarios and forecasts. The report can help shed some light on this year’s expectations if you are involved with the building industry.

For more information visit www.economics.hia.com.au

Wednesday January 6:

Building Approval Data
Judging from November’s better-than-expected Building Approval Data, 2010 should have a ‘hot’ housing sector. However, as interest rise for the 4th month in February, it will add some negative pressure to the upwards trend.

Visit Australian Bureau of Statistics for the release and more information.

Performance of Services Index

The Australian Industry Group’s index, in association with Commonweath Bank, gives a clear picture of the national services sector, which accounts for a significant amount of Australia’s GDP.

Visit the PSI page at www.aigroup.com.au

Thursday January 7:

International Trade & Retail Sales Figures
As one of Census’ most known reports, it provides an overview of the country’s retail trends, which have been favourable over the last few months. Released monthly, it will show the effect that rising interest rates will have on sales.

Visit Australian Bureau of Statistics at www.abs.gov.au

Check back soon for more tips to keep your business in top shape, and further analysis on the above indicators. If most of the indicators show positive results, and you are in a confident position with your business, it may be a good time to start thinking about expanding. Feel free to ask our Advisors about the cashflow necessary for expansion, and ensuring your business is equipped to handle an increased demand.

Merry Christmas

The Management and Staff at Morris Finance would like to wish you and your family a Happy and Safe Christmas Day.

We extend our best wishes to you for the Holiday Season, and the upcoming New Year.

Morris Finance Ltd is excited about a bigger and brighter 2010, and we look forward to dealing with you in the coming year.

Merry Christmas.

It's business as usual this festive season at MFL

It's business as usual this Christmas / New Year at Morris Finance Ltd.

Morris Finance Ltd will be open for business as usual on all days over the festive season apart from the normal public holidays.

If you need a quote for new plant and equipment or you would like to make an arrangement with our office please call the main switchboard on 03 5223 3453 and our staff will only be too happy to assist you with your inquiry.

Please find below our trading hours for the festive season and we hope you and your family have a safe and happy new year.

Week One: 21st December 2009

Monday 21 December 2009
8.30am to 5.00pm

Tuesday 22 December 2009
8.30am to 5.00pm

Wednesday 23 December 2009
8.30am to 5.00pm

Thursday 24 December 2009
8.30am to 12.00pm

Friday 25 December 2009
Closed

Week Two: 28th of December 2009

Monday 28 December 2009
Closed

Tuesday 29 December 2009
8.30am to 5.00pm

Wednesday 30 December 2009
8.30am to 5.00pm

Thursday 31 December 2009
8.30am to 12.00pm

Friday 1 January 2010
Closed

Week Three: 4th of January 2009

Normal Trading Hours Commence Monday to Friday 8.30am to 5.00pm.

MFL signs on as Event Sponsor for RGYC World Championships

The recent visit by Tiger Woods is soon to be overshadowed by Australia’s own Vanessa Dudley. With a sailing debut at the young age of 9, Vanessa has grown to conquer some impressive sailing challenges:

• Skipped 18 ft Skiffs on the Grand Prix Circuit
• Sailed 94 ft catamarans across the Atlantic
• Raced in 15 Sydney to Hobarts

Having competed in countless national and international dinghy titles as well as off shore races, Vanessa remains grounded, maintaining that previous achievements are simply preparation for her Masters Debut at RGYC.

For years, Vanessa has brought her passions and expertise to the Australian Sailing Magazine, and she continues to be actively involved in the Australian sailing community.

We are honoured and excited to have Vanessa Dudly as our guest speaker during the Morris Finance Masters Regatta in Geelong.

For more information, visit www.rgyc.com.au

Mid Year Forecast: What it means to you.

Last month, the Federal Government released its mid-year Economical and Fiscal Forecast with some changes in comparison to the outlook earlier this year. Treasurer Wayne Swan commented that the economy is now predicted to grow 1.5% in 2010 and 2.75% in 2011, as opposed to previous estimate of 0.5%.
Some predicted effects on our economy include:

- Lower unemployment (down to 6.75%)
- Higher growth
- Lower debt & deficit

However, the treasurer was quick to note that the economy is still operating below capacity and the hard times are far from over. The decreased worked hours during the previous financial year (especially in trades) will put a damper on the coming year, with the weakest expected GDP growth in 50 years. Although manufacturing activity has started to stir, it has not resulted in reversing the effects of recession. A long, sustained period of new production orders will be needed to stop the falling employment rate in the industry.
We will see some changes as the government attempts to control their deficit while maintaining the economic uplift:

- Reduced stimulus programs (predicted decrease in 1st Home Owners grants and withdrawal of 50% Business investment allowance)

- Increased interest rates (Westpac's chief economist Bill Evans claims the maximum rise to 4.5%, although top economists are predicting figures between 5-5.5%)

Overall, improvements will continue in the coming year, but you should continue to approach business with a conservative frame of mind. If you have maintained control the economic downturn, the increased throughput in 2010 should put your business in a favourable position for growth towards the end of next year.

Morris Finance Ltd Annual Dinner

The 2009 Morris Finance Ltd Annual Dinner has been deemed a success. Held at the Sheraton Geelong on the 28th of November the event was attended by 130 clients and associates.

The guests were kept entertained throughout the night with Simon Madden acting as the MC - introducing, interviewing and getting a laugh from the speakers.

The evening started with an interview from Nathan Murray, giving the guests a chance to see what the company’s Managing Director is all about. This was followed by Nathan’s father and CEO Ian Murray who presented the company results for 2009 and gave insight into the companies plans for the coming year.

Morris Finance Ltd extends a special thanks to V8 Supercars’ Jason Richards and Media Manager Graham Sattler of Brad Jones Racing. Jason delivered a captivating account of his now-famed racing career, sharing crash stories and victory memories.

The dinner culminated with a “thank you” from Nathan Murray addressing all the associate companies for their continued efforts in working for and with the business.

Morris Finance is looking forward to another successful year, wishing clients and associates a safe and happy holiday season and new year.

Three Benefits of the Governments 50% Investment Allowance

With one month left before the goverment's 50% depreciation grant runs out, you've probably already purchased your vehicle or equipment, or have decided on what you will purchase.

If you're still unsure, the below example may spark and idea as to how this tax break can help you and your business get some new equipment!

You may have had your trusty old ute for a couple of years and it is serviceable and will last another year or two. It still runs ok, but is starting to show signs of getting tired. If you haven't considered a new vehicle as a replacements, you may be shocked at some of the benefits and savings!

Do you realise that if you purchased say a new Toyota Workmate for around for $25,000-00 you can claim $12,500-00[ that is HALF] as a tax deduction this financial year. This has a threefold effect:

1. You reduce your taxable income for the year ending 30/6/10

2. The vehicle only owes you $12,500 -00 in the first year

3. You reduce your vehicle repairs and downtime immediately

Even as this limited offer comes to a close, we continue to receive many inquiries as to how this can be applied to certain businesses and purchases. Morris Finance can clear up some of your confusion with "no obligation" advice should you require any further information.

Christmas Trading Hours Dec / Jan 2010

It's business as usual this Christmas / New Year.

Morris Finance Ltd will be open for business as usual on all days over the festive season apart from the normal public holidays.

If you need a quote for new plant and equipment or you would like to make an arrangement with our office please call the main switchboard on 03 5223 3453 and our staff will only be too happy to assist you with your inquiry.

Please find below our trading hours for the festive season and we hope you and your family have a safe and happy new year.

Week One: 21st December 2009

Monday 21 December 2009
8.30am to 5.00pm

Tuesday 22 December 2009
8.30am to 5.00pm

Wednesday 23 December 2009
8.30am to 5.00pm

Thursday 24 December 2009
8.30am to 12.00pm

Friday 25 December 2009
Closed

Week Two: 28th of December 2009

Monday 28 December 2009
Closed

Tuesday 29 December 2009
8.30am to 5.00pm

Wednesday 30 December 2009
8.30am to 5.00pm

Thursday 31 December 2009
8.30am to 12.00pm

Friday 1 January 2010
Closed

Week Three: 4th of January 2009

Normal Trading Hours Commence Monday to Friday 8.30am to 5.00pm.

Can Spending Now Lead to Saving?

Tips that keep your best interest at heart.

The recent gloom of our economy is clearing with consumers and businesses alike anxiously anticipating a fresh and bright economic climate to emerge in the coming months. Morris Finance has derived some useful tactics to help our clients take advantage of this dynamic economic season and establish solid groundwork for the future of their business.

- With the economy showing even the slightest chance of recovery, the government will be reluctant to give out any more tax cuts, and increase their own deficit.

- Speculations of increased interest rates will be realised as Governor of the Reserve Bank looks to curb the trend towards inflation.

- To secure a favourable interest rate, acquire any business equipment or capital now. You will save money both immediately, through government incentives, and over time, through locked lower interest rates for the term of your contract.

- Check the regulations on all assets in your business including equipment, vehicles and machinery. The government regularly updates requirements on the age and equipment specifications, as well as introducing new rebates to assist businesses in meeting the new demands.

- If you will need to update or acquire new equipment in the near future, be proactive and do it now. Take advantage of lower interest rates and be prepared to meet the increased demand of the rising economy with new and efficient equipment.

- Leverage off outside sources for finance and maintain the balance of your existing cash flow. This will enable you to devote your undivided attention to smoothly absorbing the influx that comes with increasing market and consumer confidence.

Isn't it annoying?

You have searched around for some time looking for a piece of equipment or a motor vehicle for your business. When you have finally found the perfect item, and arrange the finance, there is always some holdup. It generally takes a week to get approval and then additional time to get it settled before you can collect your item and start using it. By this time, the shine has gone off the initial purchase.

Don’t despair! Morris Finance has one of the fastest finance approval turnarounds in the finance industry. We can arrange approval within 24 hours (providing we have all the information required) and you can collect your new purchase and be utilizing and earning you income within 2 days.

For further information ring Abby on 1300 4 Morris today and get things rolling FAST!

Investing is a Serious Business!

Investing your hard earned funds is a serious business. If you build up funds for an investment through hard work, or if you are lucky enough acquire funds through other means, the last thing you want is to loose them in a shaky investment.

Firstly, following your investment you want to be sure that your funds will be returned to you on maturity. Alternately, you want to check that the company you invested with is still operational and profitable allowing you to reinvest the funds with confidence.

Secondly, you want to ensure that your investment is earning you a good return to endeavor to allow for inflation. For example, if inflation is running at 4% PA and you are earning 5% PA on your investment, after paying tax on your interest from your asset is virtually reducing in value. [I.e. purchasing power]

MORRIS FINANCE LTD is a leading commercial finance and leasing company in its field. It is offering astute sophisticated investors* the chance to earn good interest rates in the current market.

Our Current Rates are listed below on all amounts over $500,000.00.

Indicative Interest Rates

Term 12 months …………………………….Rate 6.75%
Term 24 months …………………………… Rate 7.50%
Term 36 months …………………………….Rate 8.00%
Term 48 months …………………………….Rate 9.00%

Should you wish to make any enquiries about our attractive investment rates or Morris Finance Ltd please telephone us today on 5223 34533.

* Special conditions apply; minimum investment $500,000-00 offer is made to sophisticated investors under section 708 of the Corporations Act.

Time Is Running Out!

By now most have heard about the Federal Government hand-outs to small business in the form of a 50% tax deduction and depreciation allowance for new vehicles and equipment. What a lot of people don’t realize is that this allowance ends on the 31st DECEMBER 2009!

If you intend to purchase any new chattels for your business, do it now as now that the financial situation has improved and the reserve Bank is increasing interest rates to stop inflation - hard to work out isn’t it? There will be no extension of this tax deduction and we cannot see it coming our way for a long, long time. Get in now before it is too late.

You will be surprised when you do decide to purchase an item you had your eyes on that it may not be available, or you will have a long wait before you can obtain it for your business. Motor vehicles are a prime example. Due to the tax concessions and resultant consumer demand, the thousands of surplus stocks vehicles that had built up in the financial downturn have been cleared. In some cases there is now a waiting time of 2 to 3 months for popular brands.

After speaking to may small business owners, there appears to be a lot who still do not understand how this government incentive works, meaning they are missing out on this once in a lifetime hand out. We have experts in this finance area and invite everyone to telephone us on 1300 4 MORRIS for no obligation advise on the subject, who knows we may also be able to arrange the best interest rates available to assist you to with your new vehicle or business equipment.

ACT NOW BEFORE IT IS TOO LATE!