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July 2016 Squashworld Newsletter
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THE SQUASH ODYSSEY #10

July Newsletter

TOURNAMENT NEWS

July has been a busy month in the squash community! There has been several tournaments this month and Mirrabooka has played host to a couple of them. At the start of the month, July 1st, 2nd & 3rd we hosted the annual WA Closed Championships which were incorporated with the State Junior Championships for a packed weekend of squash. In the middle of the month, July 15th & 16th Mirrabooka also hosted the WA State Masters Championships, another popular event! Squashworld Cambridge then hosted their first Open tournament in over 5 years on July 22nd & 23rd, there were over 50 entries and we hope next year can be even bigger and better. Well done to all those who have competed in tournaments over the last month, because of you we can keep running these tournaments and keep the sport alive! On that note, we would like to challenge you to bring a new friend to squash, it could be hiring a court together, bringing them along to a Tuesday, Friday or Saturday social squash; but lets all keep trying to spread the word about the sport and get more people involved! Forbes Magazine names squash the "Healthiest Sport in the World", check out an article from WA Squash on it here. Spread the word squashies!

CLUB NEWS

"BUSY BEE"
Sunday 14th August from 9am
Members of the club and any willing helpers will gather down at the centre to help with various jobs around the clubrooms, a touch of spring cleaning to spruce up the place! All helpers available would be greatly appreciated, let The Pres, aka Grainy, aka Richard Grain know if you can make it down via text or email or just show up on the day for as long as you can spare.
RICHARD 0404 302 976 // richard.grain@gmail.com

"BUNNINGS SAUSAGE SIZZLE FUNDRAISER"
Saturday 3rd September 
The club is hosting the Bunnings Malaga Sausage Sizzle. Get in touch with Celia if you might be available to help out on the stall that day, should be a bit of fun to raise some funds for the club!
CELIA 0400 078 459 // peries@iinet.net.au

FUNNY STORY OF THE MONTH
JULY'S STORY is from the Pres about Cuddles... one day recently Cuddles finished up work, just like any other day, made his way to the train station and returned home. Although when he returned home he found his car wasn't in the driveway where he thought he left it... quick rack of the brains aaaannnnddd bugger, Cuddles, aka John Marchant had actually driven his car to work that day... back to the train station he went... hahaha well done mate! Might be your turn to submit one next!?
New monthly column for funny story of the month... if you would like to contribute please send me an email jesse@squashworld.com.au 
Spotlight on State Masters Championships
July 15th & 16th @ Squashworld Mirrabooka

Congrats to all participants, here are the Mirrabooka winners & runners-up of their respective divisions.
Mens 40-44 Open Winner: Kane Fasolo // Runner-Up: Paul Campbell
Mens 45-49 Open Winner: Paul Ratcliff
Mens 60-64 Open Winner: Paul Traub
Womens 55-59 Open Runner Up: Prue O'Neill
Womens 65-69 Div 3 Runner Up: Lyn Hazlett
Womens 70-74 Open Winner: Anita Bull
Other special mentions;
Mens 35-39 Open Consolation Plate: Luke Jamieson
Mens 45-49 Open Consolation Plate: Garth Schumann
Mens 55-59 Open Consolation Plate: Rod Chatfield
Mens 45-64 Div 2 Third/Plate: Ramy Koren
The Pros and Cons of SMSFs
Self-managed super funds (SMSFs) are now the fastest growing segment of the super industry[1]. But this doesn’t necessarily mean they’re the best choice for everyone.
As at March 2014, there were 528,701 SMSFs in Australia, with a total of $558,553 million worth of assets.[2]There are many compelling reasons why SMSFs are so popular — and equally persuasive reasons as to why they don’t suit everyone.
THE PROS
If you’re a keen, experienced investor, with at least $200,000 to invest — and the time and expertise to manage your own investments — an SMSF could be a good choice.
One advantage is that SMSF administration costs stay fixed — unlike a retail fund, which charges fees as a percentage of the value of your portfolio. So for example, if your super fees are 1% of your fund’s balance, you would pay $2,500 if you had $250,000 worth of super savings.
Then, if your portfolio balance grew to $500,000, you would pay $5,000. But with an SMSF, you would pay the same amount in administration costs, regardless of how much your balance grows.
If you’re a business owner, there may be advantages for your business premises to be owned in your SMSF and then leased it back to the business.
Firstly, the income your SMSF receives as rent is usually taxed at just 15%. What’s more, if your SMSF borrows money to buy the premises, the repayments can be tax-deductible to the fund. You’ll also be effectively your own landlord, providing security to your business’ tenancy however the arrangement would need to be on commercial terms.
AND NOW THE CONS...
But remember, running an SMSF is complicated, time consuming and requires considerable knowledge about investments. You’ll need to create and document your fund’s investment strategy, record your investments and transactions, and ensure that your fund is adequately diversified to help manage the risks of investing.
It’s also vital that a qualified auditor looks over your fund each year to ensure it is compliant. And there can be significant penalties for non-compliant funds.
Finally, if there is a conflict between you and the other trustees of your fund, you’ll need to resolve them privately, as SMSF trustees and members aren’t able to appeal to the Superannuation Complaints Tribunal to resolve disputes. This could result in large legal fees and relationship breakdowns with the other trustees — who may be family members or business partners.
GET EXPERT ADVICE
If you think an SMSF might be right for you, it’s important to seek advice. So make sure you speak to one of our financial planners, who can help with the right strategy for your retirement savings.

Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs.  From time to time Godfrey Pembroke, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non-pecuniary benefits from the financial products and services mentioned herein. Odyssey Financial Services is not a registered tax agent. If you wish to rely on the general tax information contained in this communication to determine your personal tax obligations, we recommend that you seek professional advice from a registered tax agent.
Michael Ryding and Anthony Shear, Odyssey Financial Services (WA) Pty Ltd, ABN: 88 124 789 635 Authorised Representatives of Godfrey Pembroke Limited ABN 23 002 336 254 Australian Financial Services Licensee, Registered office 105 - 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies.
This information has been prepared by GWM Adviser Services Limited ABN 96 002 071 749 AFSL 230692, a National Australia Group Company, 105-153 Miller Street, North Sydney NSW 2060 Australia.
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Squashworld Mirrabooka · 1/42 Mirrabooka Ave · Mirrabooka, WA 6061 · Australia

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