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Welcome to our November e-Bulletin

In this issue ...



Minimum pension payments

When you start a superannuation account-based pension you must withdraw a minimum amount each year, based on your age and size of your account balance, to enable the earnings on your super pension account to be tax-exempt.

Due to horrendous investment market performance during the Global Financial Crisis and the subsequent continued volatility, the Federal Government reduced the minimum pension amount required to be withdrawn from pension accounts for the 2012/2013, 2011/2012, 2010/2011, 2009/2010 and 2008/2009 financial years.

From the 2013/2014 financial year, the minimum pension payment factors return to normal.

The minimum pension payment factors apply to account-based pensions and annuities (payable since 1 July 2007); and allocated pensions and annuities.

Note: If you have a market-linked income stream, the calculation for the annual minimum pension payments is different. 

To compare the amended minimum pension rates with previous years click here.


Phillipsons' clients have their super funds reviewed and pension minimums monitored and we will keep you informed.

If you have any queries please call
03 5144 5207 and speak to Ian Mein, Brent Butcher, Katrina Van Gunst or Tracey De Nobile

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Recent Changes to the Fair Work Laws: What You Need to Know

A word from David Bates, our specialist employee relations partner

The Commonwealth Government has recently made a number of significant changes to Australia's employment laws. Most of these changes took effect on 1 July and you are now legally responsible for compliance with the new obligations these changes have imposed.

While much attention has been given to the recent increase to the compulsory superannuation guarantee, little has been given to a number of equally important changes to your legal obligations under the Fair Work Act 2009. Penalties of up to $51,000 per breach apply, so it's vital you take the time to understand these changes and ensure compliance.

For the full article including details on these changes such as Flexible Working and Parental Leave click here.


To find out more about Workforce Guardian, jump onto their website - Workforce Guardian offers subscriptions to access expert advice and resources:

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Rise in the Influence of Central Banks

Since the global financial crisis began, we have witnessed an unprecedented rise in the influence of the world's major central banks.

The explicit goal of their intervention has been to lower borrowing costs and push asset prices higher to create a "wealth effect" that causes asset holders to feel wealthier and motivated to spend more.

Risk assets have responded with each round of monetary stimulus pushing asset prices higher.

But central banks have created a much more challenging environment for investors because the yields on traditional "risk free" assets, used to balance or reduce risk in portfolios, are now at record lows. 

To find out more about this and investing in a low interest rate environment click here.


Fred Strauss

Fred Strauss is an independent and highly regarded investment expert, and is part of our investment committee.

If you would like to get more of Fred's insights or to discuss your individual investment strategy, contact our financial advisors on 03 5144 5207.

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Gippsland businesses on V/Line's Escape Finder

V-Line is due to launch a Gippsland Campaign and is offering businesses the opportunity to list on their website and mobile app.

Gippsland-based business listings will appear on this page:

It's FREE to participate in V/Line's Escape Finder, as long as certain criteria are met.

You will find full details, including eligibility criteria at this link.


All enquiries should be made to Elysa Sorahan, Marketing Assistant, V/Line P/L

Tel: 03 9619 5924

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ApWatch: Need more time in your day?

Cal is the latest Calendar application released by, and is designed for you to organise your life with ease and create more time for the fun things in your day.

Forgetting birthdays, meetings and important events will be a thing of the past as you will have the ability to access and update your calendar from your mobile phone no matter where you are.

Cal also integrates with your phone contact list so you can easily and efficiently setup meetings and send out invitations at the touch of a button.

Currently available for iPhone Cal can be downloaded for free directly from the iTunes store, or for more information head over to:



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And finally a word from the editor ...

With one-third of the new financial year almost over, it is time to start thinking about the festive season.

With parties on the agenda and time off to look forward to, your workforce may start the ease down sooner than you would like.  Here are some tips to getting effectiveness from your staff in the time between now and the New Years Day hangover.

  • Put the calendar up in a public place – make it very clear how little time is left in 2013.
  • Enquire early about what leave your employees plan to take – and put this on the calendar so that everyone in your business is aware – manage any unacceptable overlaps.
  • If staff are not wanting to take much leave, but there will be little for them to do during the period, you can enforce annual leave – but you need to do this in advance.
  • Be clear about your expectations of what needs to be completed this side of the Christmas period.
  • The closer you get to the big day, start planning for January and share this with the team. Make sure they are thinking about work returning to normal.

We will focus more on other business issues related to the festive season in our next monthly bulletin.

Until then – be safe and successful.

Kurt Best
General Manager


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