12 November 2019
The Tony Quirk Award Finalists have been announced and we are excited to shine a spotlight on the Boyce team members from our five regional offices who are in the running to win the highly coveted, annual TQ Award.
8 November 2019
On 7 November 2019, the Government announced an overhaul to the Regional Investment Corporation (RIC) funding rules which would see a couple of key changes.
Previously, the RIC was making available loans of up to $2 million with low interest rates (3.11%).
The main changes are as follows:
1. Changes to the repayment options which have been announced are:
- The first two years, interest and repayment free
- The following three years, interest only
- The following five years, interest and principal
2. Small Business Drought loans of up to $500,000 will be available for small businesses that directly provide primary production related goods and services to farm businesses in ‘the most drought affected communities. There is currently no guidance on how this will be determined.
At this stage this is an annoucement from the Government, and more specific requirements will follow. It also remains to be seen how they are going to determine which areas are eligible for the Small Business Drought loan.
Furthermore, there is currently no guidance on what will happen with interest charges on RIC loans already approved and those currently in the application stage.
Boyce will continue to send updates as new information becomes available.
Should you wish to register your interest or find out more information, please email firstname.lastname@example.org, call 1800 875 675 or contact your local Boyce accountant.
30 October 2019
Kate was born and bred in Dubbo, so when she saw a job advertised on Seek based in the Boyce Dubbo office, she jumped at the chance to apply.
Name: Kate Jones
Role: Tech Cadet
Location: Boyce Dubbo Office, The Central West, NSW.
1. What sparked your interest in applying for a job with Boyce?
Word of mouth about Boyce as an employer in Dubbo has always been really positive, so when I saw a job on Seek with them I was very keen to apply. I actually applied for an Admin Role, but when the Boyce team noticed I am currently studying a Bachelor of Information Technology at Charles Sturt University, they offered me the Tech Cadetship.
2. How long have you been working with Boyce?
I have been with Boyce for six months now and I feel I am getting a very well-rounded experience. I work in the Technology Team, who oversees the technology infrastructure that the Boyce teams use. I am in the office four days a week and one day a week is dedicated to my uni work. I’ll complete my degree in 12-months time and then plan to work full-time.
3. What role do you think financial services plays in regional communities, particularly in times of drought?
Being in drought seems to have brought the community in Dubbo together. Everyone is very keen to shop locally and support local businesses whenever possible.
4. What do you love about living and working in Dubbo?
I enjoy spending time on the walking trails that are around Dubbo. I was born and bred here, so I am really excited to have landed a great role in my local town.
5. How do you wind down after work and uni hours?
I practice martial arts and I have a black belt.
16 October 2019
Meet Salina Lennon, a Cadet in Wagga who started with Boyce at the beginning of this year. Salina is a valuable asset to Boyce as she brings great spirit and fun to the team and has an eagerness to learn and progress her career in Accounting.
1. What sparked your interest in a career with Boyce?
Lots of my family and friends work in financial services, including my Dad. I have always had an interest in this sector, so when I finished school in 2015 it was an easy decision for me to pursue a career in this field. I like the fact that Boyce has a wide range of clients, including in the Agricultural industry, as that keeps the job interesting and challenging.
2. What are you currently studying?
I am studying Accounting at Charles Sturt University, Wagga Wagga and I am aiming to complete my degree in 2022. I’m in the Boyce office four days a week and attend lectures and tutorials on campus at the uni two mornings a week. It’s the ideal mix of work and uni life for me.
3. How did you secure the cadetship?
I had done some online research and felt like Boyce would be a great firm to work for. I called one afternoon asking about the cadet program and if there were any positions available in the near future. Coincidently they were about to start advertising for a cadet position the following week. I came in for my interview a few days later and managed to secure an offer of employment. The timing was perfect!
4. What do you like about living and working in Wagga?
I’m from Sydney originally and moved to Wagga in June 2018. I was interested in working and studying in the country as the diversity of the work and the way of life appealed to me. I’m finding Wagga a friendly place to live and work; it’s an easy town to live in with everything you need and a desirable country-feel.
5. What do you enjoy doing outside of work and uni hours?
I have a dog named Roxy and we are like two peas in a pod. I spend a lot of time with her, which is fun, she keeps me on my toes.
6 September 2019
The ATO are intending to contact about 17,700 self-managed super fund (SMSF) trustees and their auditors where records indicate the SMSF may be holding 90% or more of its funds in one asset or a single asset class. The ATO wish to ensure trustees have given due consideration to diversifying their fund’s investments and the risks associated with a lack of diversification. Lack of diversification or concentration risk can expose the SMSF and its members to unnecessary risk if a significant investment fails.
The ATO media release does not indicate they are targeting particular asset classes, however, it is likely the action will focus around funds where assets are concentrated in real property.
If you do receive a letter from the ATO regarding your SMSF’s investment strategy meeting the diversification requirements please contact your accountant or our super team. We will review your investment strategy to ensure the documentation meets the diversification requirements.
If you require further information regarding the requirements of your SMSF’s investment strategy click here.