blog

2012 BRW Client Choice Awards Winner

Wed, 21 Mar 2012 10:00:00 -0400

Lawler Chartered Accountants has won Best Victorian Firm and Best firm as rated by C-suite* at the 2012 BRW Client Choice Awards.

We were also recognised as a Finalist in the Awards for Best NSW Firm and Best Tax Provider.

The BRW Client Choice Awards, now in its ninth year, recognises outstanding performances as voted by clients for accounting, law, IT consulting, engineering and actuarial firms.

Being acknowledged in these prestigious Awards is a tremendous achievement for us as the results are determined entirely by those who matter most - our clients and colleagues.

To our clients, thank you for acknowledging the quality of our care and advice.

We will not rest on this achievement however. We will always endeavour to look for ways to improve on our service promise to you.

How are the BRW Client Choice Awards judged?

The BRW Client Choice Awards are based on quantitative research into buyers of professional services, conducted independently by Beaton Consulting.

The selection of the finalists and winners is determined exclusively by the data. There is no judging panel; it is the opinions of clients that count towards the Awards. More than 20,000 buyers of professional services participated in the research.

*The C-suite refers to the highest-level executives in a company, includes the offices of Chief Executive Officer, Chief Operations Officer and Chief Financial Officer.

APCH LTD Notice of Liquidation

Sat, 17 Dec 2011 10:00:00 -0500

APCH LTD Notice of Liquidation

APCH LTD Notice To Unitholders-Centrelink

Sat, 17 Dec 2011 10:00:00 -0500

AUSTRALIAN PROPERTY CUSTODIAN HOLDINGS LTD. ('APCHL') IN ITS CAPACITY AS RESPONSIBLE ENTITY ('RE') FOR THE PRIME RETIREMENT & AGED CARE PROPERTY TRUST (“ PRIME TRUST”)

(IN LIQUIDATION) (RECEIVERS AND MANAGERS APPOINTED)(CONTROLLERS APPOINTED) ACN: 095 474 436

A number of queries have been received from unitholders in relation to the valuation of their units with Centrelink.

Following discussions with Centrelink, I have been advised that they have re-valued the units of Prime Trust to the last unit price it was listed at on the ASX.

In order for this change to take effect, Centrelink has advised that unitholders need to contact Centrelink to have the new unit price updated on their file.

Alternatively, Centrelink has advised that the change will automatically take effect across all unitholders on 20th March 2012.

In addition a letter confirming that the entity was placed into liquidation is attached.

If you have any queries, please email prime@lawlerdd.com.au or contact this office on 03 9679 2222

APCH LTD Notice of Liquidation

Personal Properties Securities Act (PPS) update

Thu, 08 Dec 2011 10:00:00 -0500

Personal Properties Securities Act Update

The Attorney General’s office has announced that the Personal Properties Securities Legislation will commence on Monday 30th January 2012.

Should you have any questions regarding this act, please phone your Lawler Draper Dillon contact or email mail@lawlerdd.com.au

APCHL Section 439A Report

Tue, 15 Nov 2011 01:46:23 -0500

Australian Property Custodian Holdings LTD. ("APCHL") in its capacity as responsible entity ("RE") for the Prime Retirement and Aged Care Property Trust ("PRIME TRUST") (ADMINISTRATORS APPOINTED) (RECEIVERS AND MANAGERS APPOINTED) (CONTROLLERS APPOINTED) ACN:095 474 436

APCHL Notice of creditors meeting

Wed, 09 Nov 2011 10:00:00 -0500

APCH LTD Update to Creditors and Unitholders of Prime Trust

Wed, 12 Oct 2011 15:00:00 -0400

APCH LTD Update to Creditors and Unitholders of Prime Trust

Personal Properties Securities Act (PPS)

Thu, 15 Sep 2011 10:00:00 -0400

Personal Property Securities Act 2009 (PPSA)

Personal Property Security (PPS) reform is changing the law and practice for secured financing involving personal property. PPS reform will bring the different Commonwealth, State and Territory laws and registers regarding personal property security interests under one national system. Set to commence in early 2012 there will be one national PPS law and one national PPS Register.

The PPSA has implications for all businesses in all industries. It will impact customers, creditors, debtors, manufacturers, retailers, suppliers, banks and financiers.

What are Personal property securities?

Personal property is any form of property other than land, buildings or fixtures which form a part of that land. It can include tangibles such as cars, art, machinery and crops; as well as intangibles such as intellectual property and contract rights.

A personal property security occurs when a secured party takes an interest in personal property as security for a loan or other obligation, or enters into a transaction that involves the supply of secured finance.

An example is when a person borrows money from a bank and offers personal property as collateral or security for the loan. The bank’s interest over the collateral is a personal property security.

Personal property securities register

The PPS Register will allow lenders and businesses to register their security interests. Secured parties, buyers and other interested parties can search the PPS Register to find out if a security interest is registered over the personal property.

Protecting Your Security Interest

In order for a security interest to be effective against competing claims, the holder of a security must have a security interest and must perfect (refers to the process required to ensure the security interest is enforceable against third parties in an insolvency situation; determined by specific rules about when a security holder has either possession or control over an asset) that interest. This can only be achieved by registering the security interest on the PPS Register or by having possession or control of the property to which the security interest is attached.

Priority Rules

The priority between competing interests is generally determined as follows:

A perfected security interest overrides an unperfected security interest;
Where all security interests are perfected by registration, the first to be registered has priority; and
Where all security interest are unperfected, the one to have priority is the first to achieve attachment (the step by which a security interest attaches to property on the giving of value for the security interest or an act by which the security interest arises).

Registration commencement Time

The PPS Act and PPS Register are scheduled to commence from the registration commencement time, early in 2012.

Required Action

Those affected may be required to assess their securities environment, prepare new policies, redraft contracts and identify transactions that require registration. Preparation should begin now to guarantee successful registration and ensure a smooth transaction once the Act commences. If you think you may be impacted and require further assistance please contact our office for an information sheet that will assist you in assessing how you may be impacted and what further action may be required.

On-Call Interpreters and Translators Agency Pty Ltd (Administrators Appointed)

Fri, 02 Sep 2011 16:45:00 -0400

Notice to interpreters:

On-Call Interpreters and Translators Agency Pty Ltd (Administrators Appointed)

Fri, 29 Jul 2011 16:30:00 -0400

Notice to interpreters:

On-Call Interpreters and Translators Agency Pty Ltd (Administrators Appointed)

Audit Financial Reporting Update

Thu, 14 Jul 2011 10:00:00 -0400

Lawler Draper Dillon 2011 financial reporting update.

Know how to deal with:

mandatory Corporations Law and Accounting Standards reporting and;
future direction

Date: Friday 22nd July

Time 8am for breakfast

Venue: Training room - Lawler Draper Dillon

Level 13/440 Collins Street Melbourne

RSVP - Kate Fraser 9679 2285 or marketing@lawlerdd.com.au

If you cannot attend and would like access to the presentation papers please contact Steven Bradby on 9679 2222 or

email sbradby@lawlerdd.com.au

On Call Interpreters and Translators Agency Pty. Ltd. (Administrators Appointed)

Mon, 30 May 2011 17:00:00 -0400

On Call Interpreters and Translators Agency Pty. Ltd. (Administrators Appointed)

APCH LTD (PRIME TRUST) - NOTICE TO UNITHOLDERS

Thu, 26 May 2011 12:00:00 -0400

APCH LTD (PRIME TRUST) - NOTICE TO UNITHOLDERS

TRANSFER OF PTN UNITS FROM THE CHESS SUBREGISTER TO THE ISSUER SPONSORED SUBREGISTER

On-Call Interpreters and Translators Agency Pty Ltd (Administrators Appointed)

Tue, 24 May 2011 09:30:00 -0400

Notice to interpreters:

On-Call Interpreters and Translators Agency Pty Ltd (Administrators Appointed)

APCH LTD Online Proxy & Proof of Debt Lodgement Service for Unitholders

Fri, 20 May 2011 14:00:00 -0400

Online Proxy & Proof of Debt Lodgement Service for Unitholders

Unitholders are now able to lodge a Proxy and Proof of Debt Form online. Forms can be completed and lodged online or alternatively paper forms can also be downloaded from the website. Please visit https://insolvency.linkmarketservices.com.au/PTN/ for further details.

Budget overview 2011

Wed, 11 May 2011 10:00:00 -0400

Overview

Despite softening the Australian public up for a hard hitting budget with pre budget leaks, last night's Federal Budget was not particularly tough. It does however, propose a number of key reforms in health, education and workforce participation with the Government announcing it has imposed strict spending limits, saving $22 billion to fund in part some of these new initiatives.

There are a large number of minor tax reforms over a broad range of areas. None of these reforms are particularly significant in their own right, but collectively they add to a considerable amount.

The Government is promoting the following as the core items for this budget:

A plan to build a more productive workforce
A plan for better schools, hospitals and health care, and
Cost of living relief for families, investments in a sustainable Australia, and new assistance for small businesses and manufacturers.

The notable omission from the budget was in relation to any expected budget implications in respect of the carbon price. The fiscal implications will be advised once the design of the Governments proposals in relation to taxing carbon have been finalised.

The Economics

The budget forecasts a deficit of $45.7 billion for the 2010/11 year and a deficit of $20.3 billion for the 2011/12 year. The Government expects the budget to return to a modest surplus of $3.5 billion in the 2012/13 year.

The Government is projecting that the economy will grow at a rate of 4% to June 2012 and 3.75% in the 2013 financial year. This is despite a 0.75% overall decrease resulting from natural disasters occurring both in Australia and abroad.

Unemployment is also expected to drop from a current rate of 5% to 4.75% by June 2012 and a further drop to 4.5% by June 2013.

Inflation is also tipped to drop fro a current rate of 3.25% to 2.75% by June 2012 and then back up to 3.0% by June 2013.

The boldest claim in the budget (even more bold than when it was made in last year’s budget) is the return to a modest $3.5 billion surplus by June 2013, 3 years ahead of the timeframe predicted at the time of 2009’s budget.

There are also spending measures in the key areas of workforce training $558 million, infrastructure $36 billion, health (over $18 billion, with $16.4 billion on hospitals and $2.2 billion on mental health), schools (over $800 million), and regional development of $4.3 billion amongst others.

Significant Budget Measures

The following are the major budget announcements:

No change to personal marginal rates. However the flood levy will apply from 1 July 2011 to increase the effective marginal rate of tax for income above $50,000 in between an additional 0.5% and 1%. The effective top marginal rate becomes 47.5% for incomes above $180,000.

Minors no longer eligible for the low income tax offset from 1 July 2011. This will directly impact on the amount that minors can receive from discretionary trusts and investments in their own names without facing the penalty rates that apply to ‘unearned income of minors. It means that the tax free amount of passive income they can receive tax free will reduce from $3,333 per annum for the year ended 30 June 2011 to $416 for the year ended 30 June 2012.

No deductions against Government assistance payments such as youth allowances from 1 July 2011.

The dependant spouse rebate will be phased out for spouses with no children who are under 40 years of age (born after 1 July 1971) from 1 July 2011.

The Government will seek to reintroduce the previous provisions that it could not get passed by Parliament in relation to the means testing of the Private Health Insurance rebate.

There will be a reduction in both the upfront and lump sum HECS payment discounts from 1 July 2012. Both levels of discounts will be reduced by 50%.

There will be a one off opportunity to have excess contributions refunded where concessional contributions breach the cap by up to $10,000 from 1 July 2011. The refund will be assessable income and tax at marginal rates rather than the effective 46.5% that would apply under the excess contributions tax regime. As a result the proposal will only benefit those who face a marginal rate lower than the top marginal rate and it is a once only opportunity. There are also a number of other specifc superannuation changes in relation to minimum pension amounts, higher concessional contribution caps for those over 50 in certain circumstances, ensuring all share transactions are subject to capital gains tax and new super contribution reporting requirements. There are also minor changes to the instalment warrant provisions.

Small business (those with a turnover of less than $2 million) will be eligible to claim a deduction for the first $5,000 of any motor vehicle purchased from 1 July 2012. The balance of the car’s cost can then be depreciated. This deduction is in addition to the increase in the low value asset write-off to $5,000 (from $1,000) announced in the previous budget for new assets. The accelerated car deduction replaces the Entrepreneur’s tax offset that ceases to apply from 1 July 2012.

The company tax rate for Small Business will be reduced to 29% (down from 30%) from 1 July 2012. For large business, the previously announced drop to 29% will continue to take effect from 1 July 2013.

The statutory rate for car fringe benefits will be phased out over 4 years to be a flat rate of 20% of the cost of the car. The flat rate replaces the varying rates that applied based on the distance travelled. The rates and timetable are as follows:

FBT statutory rate method
	Statutory rate (x cost of car to determine person's car fringe benefit)
Distance travelled during FBT year (1 April - 31 March)	Existing contracts (%)	New contracts from 10 May 2011 (%)	New contracts from 1 April 2012 (%)	New contracts from 1 April 2013 (%)	New contracts from 1 April 2014 (%)
0 - 15,000km	26	20	20	20	20
15,000 - 24,999km	20	20	20	20	20
25,000km - 40,000km	11	14	17	20	20
More than 40,000km	7	10	13	17	20

As a result, higher kilometre cars will need to rely on the log book and business percentage rules to reduce the amount of FBT payable as compared to applying the statutory formula method. Those travelling less than 15,000 km will find that salary packaging a car is now more attractive. Where a fixed total remuneration package is in place and the FBT cost rises, the increased FBT cost will be passed on to the employee who will in effect suffer a decrease in their wages. Any increase in reportable fringe benefits will also impact on the ability to access certain Government benefits and assistance. It should be noted that the announcement provides that it only applies to new vehicle contracts entered into after 10 May 2011.

The income tax, FBT Deductible Gift Recipient and GST concessions that apply to charities will be limited in respect of their unrelated commercial activities from 1 July 2011. A statutory definition of charity will also be legislated.

A payment reporting scheme will be implemented for certain businesses in respect of payments made to contractors in the building industry. An extension of this scheme to the commercial cleaning industry will also be considered.

Changes will be made to strengthen the director penalty regime and to curb phoenix activity. The director penalty regime will be extended to superannuation guarantee amounts, making directors personally liable for unpaid superannuation contribution contributions for employees. The ATO will also be given the ability to take direct recovery action against directors without the usual 21 day notice period being applied in respect of certain unpaid tax liabilities that remain unreported for more than 3 months after becoming due. Directors will also be denied credits for unpaid PAYG in their personal returns where the amounts have not been remitted to the ATO.

The above is a broad summary of the issues only, if you would like further detail on any measures and how they will affect your business please contact your Lawler Draper Dillon contact.

APCH LTD Notice to Unitholders

Wed, 27 Apr 2011 10:00:00 -0400

APCH LTD Notice to Unitholders

APCH LTD General Proxy

Thu, 14 Apr 2011 15:20:00 -0400

PROXY FORM

This form is a GENERAL proxy form only. At this stage the administrators are not in a position to provide the unitholders with a substantial report as to their findings and a recommendation as to the future of the entity. Accordingly, this proxy form only allows for a general proxy to be provided. Once the date for the second meeting of creditors has been set a subsequent form will be provided which will enable unitholders to provide their proxy directions on how to vote on specific resolutions.

Unitholders should complete and sign the form and return to:

Lawler Draper Dillon
Level 12, 440 Collins Street
MELBOURNE. 3000

Or alternatively scan and email the completed form to: prime@lawlerdd.com.au

Please click HERE to access the Proxy form (PDF format)

APCH LTD Unitholder Informal Proof Of Debt

Tue, 05 Apr 2011 10:00:00 -0400

Informal Proof of Debt form for Unitholders of Prime Trust

Below is an informal proof of debt form which can be used by unitholders wishing to lodge a simplified claim in order to be recognised as a contingent creditor, meaning the value of such a claim is yet to be determined, and accordingly they will be admitted to vote at the second meeting of creditors for a nominal amount of $1.

Such unitholders should complete and sign the form and return to:

Lawler Draper Dillon

Level 12, 440 Collins Street

MELBOURNE. 3000

Or alternatively scan and email the completed form to: prime@lawlerdd.com.au

Please click HERE to access the Informal Proof Of Debt (PDF format)

BRW Client Choice Awards 2011 Winners

Mon, 21 Mar 2011 10:00:00 -0400

We are delighted to announce that Lawler Chartered Accountants were announced winners of the following awards at the BRW Client Choice Awards 2011 - Best National Professional Service Firm (revenue under $50M) and - Best Accountancy Firm (revenue under 50M)