Date posted: 29/05/2018 5 min read

Tasmania Regional News May 2018

Updating you on recent and forthcoming activities in Tasmania

In brief

  • Update from Paul Breen, Tasmania Chair
  • Update from Andrew Quinlan, Deputy Regional Manager

May update from the Regional Chair

In the wake of the recent wild weather which impacted the entire state and brought severe flooding to Hobart and surrounds, I would like to extend wishes on behalf of CAANZ for a speedy and hassle-free recovery to all our members affected by damage to their homes and businesses.

This month, the tax concessions outlined in the Federal Budget have attracted a lot of attention, however an issue which might have gone under the radar is the uncertainty surrounding the GST entitlements for Tasmania.

The 2018-19 Budget only contained GST entitlements across two years of the forward estimates, instead of the usually comforting four, with the Productivity Commission tasked with conducting an inquiry into the impacts of the current system on national productivity, efficiency and economic growth before further estimates can be delivered.

This leaves Tasmania, which heavily relies on its slice of the GST pie as a makeup of state revenue, in a state of uncertainty until the Productivity Commission’s report is released next month.

While the Budget promised a $70 million increase to Tasmania’s overall GST payments in 2018-19, this figure represents a reduced share of the national GST pool from 3.8 per cent to 3.7 per cent.

A draft report from the Productivity Commission revealed Tasmania could lose as much as $639 million over four years if changes are made to the distribution process.

With a Federal election looming, it will be interesting to hear how both major parties intend to address this issue for our state.

Continuing the introductions of our Councillors, this month I would like to introduce you to Danny McCarthy FCA. Danny is a Partner at the respected firm WLF Accounting and Advisory and has a wealth of experience in all areas of auditing, assurance and advisory.

Holding a Bachelor of Economics with Honours from the University of Tasmania, Danny brings an extremely well-rounded knowledge of finance to the table, specialising in research, modelling, analysis and reviews which have helped countless Tasmanian businesses both large and small to address challenges and identify growth opportunities.

With the end of financial year fast approaching and the Tasmanian State Budget set to be delivered on Thursday, 14 June I’m sure there’s a lot on the plate for many. As always, if there is an issue you would like the Council’s view on or assistance with, do not hesitate to get in touch.      

Paul Breen FCA

Deputy Regional Manager – Andrew Quinlan

Dear members,

As mentioned last month, if you haven’t already please join our Tasmanian Members Group on facebook which was launched in April (and now has over 110 members) for you to engage with the Tasmanian Regional Council, fellow CAs and the management and staff of Chartered Accountants ANZ.

Join our Facebook Group

You can join by clicking on the link below and please let me know if you have any queries about joining or the group.

Join now

We’ve shared some great content on the facebook group over the last couple of months including an article on Brett’s Godfrey’s Tasmanian Walking Company, an article on Mental Health by CA ANZ President, Jane Stanton FCA, updates on the Federal Budget and invitations to events including our Member cocktail and our Financial Advisory Services Sharing Knowledge update. We welcome and encourage you to make your own posts and share contributions with your fellow CA members to really bring the group alive.

Recap of last months events/activities

On Thursday 17 May the CA ANZ Board and senior leadership joined members for a cocktail function at The Henry Jones Art Hotel in Hobart. The evening was great opportunity for members to meet and hear from our Board Chair, Murray Jack FCA, CA ANZ 2018 President, Jane Stanton FCA, our CEO, Rick Ellis as well as Board members and senior leaders of CA ANZ. Highlights of the evening included the CA ANZ Meritorious Service Award presentation to CA ANZ Board member, Mike Blake FCA for his distinguished service to CA ANZ over many years and CA ANZ Fellowship presentation to Robert Groom FCA – congratulations again to both Mike and Robert. Thanks to all our members who supported the event and we hope you enjoyed the opportunity to network and connect with CA ANZ representatives and each other.

On Monday 28 May our Senior Policy Adviser of Financial Advisory Services, Bronny Speed CA CFP delivered a Financial Advisory Sharing Knowledge update to members at the Salamanca Inn. Thanks to our members for attending and the great practical questions during the Q&A.

Upcoming events

The next couple of months will see the following exciting activities/events for members and guests in Tasmania:

On Wednesday 6 June, William Pegg, Director of Synthesis Group will deliver a Building Knowledge session titled “From Service Provider to Trusted Advisor” in Hobart.

On Tuesday 19 June and Wednesday 20 June, Paul Cook FCA will deliver updates on the “Safe Harbour reforms of 2017” at Sharing Knowledge sessions in Hobart, Launceston and Devonport.

We look forward to seeing you at one of these events or another throughout 2018.

Andrew Quinlan CA
Deputy Regional Manager – Victoria & Tasmania

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