WELCOME TO THE FIRST EDITION OF 'STABLE TALK',
STABLE FINANCIAL'S NEW AND IMPROVED QUARTERLY NEWSLETTER

We congratulate the following staff and clients on the following significant accomplishments:

Joel Patching, a senior accountant with our firm, who become engaged on Valentine’s Day to the lovely Melissa. Joel also recently received confirmation that he has completed all the requirements of the Chartered Accountants program and can now use the initials ‘CA’. Well done on all your hard work.

Gus Contessotto, a supervisor with our firm, who wed the lovely Georgia in late 2008 and enjoyed an overseas honeymoon soon after;

Ian Johnson, who bred the winner of the 2008 Melbourne Cup, Viewed; and

Greg Childs, who in late 2008 announced his retirement from racing riding after 30 years and 2,100 winners. He commenced his career in New Zealand as an apprentice in 1978 and moved to Melbourne to continue his success in 1990. He rode 72 Group Ones and is most remembered for his association with the great mare Sunline, on whom he rode to victory 21 times, including 10 Group One wins.

Group races season 2007/2008
The horse racing industry is highly regulated, or at least, highly transparent with reams of useful information available for the public to scrutinise. A statistician’s paradise, just about any variant of a theme could be calculated and analysed covering any period, geographic location, age and sex together forming a unique sample. (For instance, you could work out the optimum age of a dam when she is sent to stud to produce a Group 1 winner)

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This seems to be the question on everyone’s lips, have we seen the bottom of the market and is it "safe" to go"back into the water? Well nobody knows however there are some encouraging signs beginning to appear and the general consensus is that whilst we will experience more turbulence in the second quarter of 2009; the share market is expected to improve considerably in the second half of the year.

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Friday the 13th proved lucky for some as the Labor governments’ stimulus package was passed by the Federal Senate. This package will inject approximately $42 Billion directly into the Australian economy with the aim of preventing a recession or, at the very least, easing the affects of the current economic slowdown which is affecting the entire globe.

» READ MORE

BUSINESS & TAXTIPS FOR HORSE
OWNERS & BREEDERS (Volume 3)

Our new edition of "Business & Tax Tips", a concise and immensely
helpful reference tool focusing on the business and tax aspects of the
thoroughbred industry, has now been released. It has been 3 1/2 years
since our last publication and so much has happened during that time.

» READ MORE

The ATO recently announced measures to assist with the costs of education for eligible families and independent students which will apply from 1 July 2008. The measures entitle eligible taxpayers to claim a tax offset equivalent to 50% of eligible education expenses up to the following limits:

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As the Australian economy continues to feel the effects of the Global Financial Crisis, our firm has noticed a tightening of a bank’s lending criteria and more thorough annual reviews of existing loan facilities. In this environment, a business needs to be able to supply more regular financial information. With the ability of a business to meet its repayments now paramount, detailed cash flow projections will often be requested. Our firm can assist with this requirement.

With the aim of creating more demand within the business community, the government has announced a temporary 30% investment allowance valid for most new assets acquired between 13 December 2008 and 30 June 2009.

This will be an additional deduction based upon the cost of the depreciating assets.

Features include:
» Start to hold between 13 December 2008 and 30 June 2009, and installed ready for use by
30 June 2010 - 30% bonus, or

» Start to hold between 1 July 2009 and 31 December 2009, and installed ready for use by
30 June 2010 - 10% bonus

» Small business entity minimum cost is $1,000, other businesses $10,000

» Applies to most tangible depreciating costs e.g. machinery and equipment, but not land, trading stock

» Must be new - never previously been used or installed ready for use.

» It must be principally in Australia for the principal purpose of carrying on a business.
For further information, please do not hesitate to contact us.