Coolamon Rotary Bulletin for Week of August 25th. 2024
Meeting of Monday 19th August 2024
President Adrian Lindner welcomed 22 members and 3 guests including our guest speaker.
Tonight our guest speaker was Dan Uden from Bush and Campbell Accountants in Wagga.
Welcome back Mark Readon and a warm welcome to our guests Marilyn Jennings and Brian Roberts a visiting Rotarian from the Kooringal RC. Brian has a long term relationship with Coolamon when he was the Principal at the Yanco Agriculture High School. Dick Jennings’s son Richard went to Yanco AGHS during Brian’s tenure as principal.
Our guest speaker Dan Uden presented a talk on Death & Taxes after dinner. PP Ian Jennings introduced Dan who is a specialist in superannuation.
We learned so much from Dan tonight and it was hard to keep up with his talk and take notes for the bulletin. So here is a summation of what we learned or already knew about Death & Taxes, or did we?
- Death taxes were in place until Joh Bjelke-Petersen got rid of them in 1978 for Queensland and the rest of Australia followed.
- 1946-1964 the time of the baby boomers. 2029 onwards will see the beginning of the end of the boomers as in 2029-2042 is the the time of peak transfer of wealth on death.
- 2042 most of the female baby boomers will have died and around $5 trillion in Australia will change hands.
- World wide this will be 100s of trillions of $.
- 1 in 2 Australians don’t have a will which is and will create huge issues with the baby boomers.
- A good way is to have spouses/partners as joint tenants in their assets i.e. bank accounts/shares/real estate and hold those assets jointly when one dies the remaining partner does not have a problem with the transition.
- Tenants in Common is a very powerful tool.
- There are three excellent tools to protect one’s assets.
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- Enduring Power of Attorney for Financial Reasons and
- Enduring Power of Attorney of Guardianship (health & medical).
- Binding Death Benefit Nomination.
Enough of death! Dan then spoke in depth on taxes. Dan said that even though death taxes no longer exist, however some beneficiaries can expect to pay 15-17% tax in certain cases. Dan did say that spouses/partners receive super tax free as do the children. In case of age being over 65 does not attract tax on super.
Dan concluded by advising us that there is $3.5 trillion in Auistralian super today.
There were many questions and Ian Jennings gave Dan a vote of thanks and a bottle of a nice red.
Thankyou Grahame for the above photo.
Here is another angle of the presentation to Ben and we will miss this fun loving man in the bottom right.
We then had our dynamic duo stand in S@A and his corporal with one of their classic fines session.
We had three raffle winners Myffy, Bear and Annie.
Another excellent evening of fellowship and a very thought provoking guest speaker, who says you need a projector?
Thankyou Mary for the dahlia bulbs.
DIARY
N.B. You are always welcome to bring guests to most of our meetings, just advise Ian Jennings if you want to bring a guest along when you respond to the weekly dinner roll call!
You can download the full programme here and note that it will change and that will be reflected in the weekly bulletin and in The Diary on our website:
Saturday 24th August – Ganmain Show. CRC Carpark duties, volunteers will be Dick, Bruce, Bear, Adrian, Henk and Garth supportinig the Coolamon Lions.
Monday 26th August-Social Night. Get to know your member meeting. Coolamon Sport Rec Club, 6.30 for 7.00 pm. TONIGHT will be our treausurer Mary Potts in a Q&A with President Adrian on Mary’s life to date.
*Monday 2nd September – Guest Speaker Meeting. Cheryl Roberts & Elaine Post Days for Girls Charity. Venue Coolamon Sport & Rec Club, 6.30 for 7.00 pm.
Saturday 7th September – Marrar Madness Coolamon RC is manning the car park. Volunteers required.
Sunday October 6th Gears & Beers Dirty 130 Wollundry RC. Website
Sunday October 20th Open Garden Day
Saturday October 26th Open Garden Day
*Friday 25th/Sunday 27th October – D9705 Conference. Mittagong RSL. Bookings open now:
D9705 Conference
One of the highlights will be DG Michael Lapina, a treat indeed. Yes Michael the current D9800 District Governor, and I heard him sing at the Zone 8 Conference in Canberra. Michael and Heather McInally also had the Singapore Convention delegates give them a 6 minute standing ovation following their duet. As you know Heather is the wife of Past RI President Gordon McInally.
JUST FOR LAUGHS
All of the above images were obtained from Facebook.
PS FOR THE ROYALISTS.
The first memorial statue to Queen Elizabeth II with her beloved corgis. A statue of Queen Elizabeth II by Hywel Pratley stands in Oakham, the county town of Rutland in the East Midlands of England. It was unveiled on 21 April 2024, which would have been the Queen’s 98th birthday.
ROTARY NEWS
1. Rotary projects around the globe August 2024
Belize
The Rotaract Club of Belize City is renovating a rural school and a Rotary club-sponsored park as part of its youth-focused agenda. In April, club members met at the Hattieville Government Preschool to paint restrooms and complete other beautification work. A later phase will include new toilets. “We’ve been able to replace chalkboards in 10 classrooms with whiteboards and to donate a printer and other school and hygiene materials,” says Kristoff Nicholson, immediate past president. The club partnered with a telecom provider and raffled off smartphones to help pay for the project. It also received a District 4250 grant of $1,000. In March, club members replaced basketball and goal nets and painted benches and a playset at Love Park in Balama, another element of the project, Nicholson says.
2. Rotary Foundation Centurion Program
Once again this month we celebrate the importance of The Rotary Foundation and its support of the many important facets of our Rotary Programs both here in Australia, but also overseas.
Our D9705 Centurion Program is established in order for members and other individuals to make a personal contribution to the work of our Foundation in an ongoing way.
By setting up a regular debit from your nominated bank account, you can make your donation to the Australian Rotary Foundation Trust and gain Tax Deductibility for your contribution. I have set up my birthday as the recurring date for my own donation, that way I can readily remember when it is occurring, and I get a thank you from the Foundation for my gift. You can set it up however you want. Just do it.
You can do this simply by completing the attached Individual Centurion Donation form, or clubs can collect and forward donations from their members at the same time using the Club MultiDonor form. If you have other versions of these forms from the past – dispose of them. The deposit details on these current forms (October 2022) are correct. Donations sent using old forms will not go through, and will not be credited against the donor.
These forms are attached to this post, but can also be downloaded from the D9705 website through the Foundation Tab or member downloads. Please share these with your club members.
AUGUST IS ROTARY MEMBERSHIP & NEW CLUB DEVELOPMENT MONTH
ROTARY CLUB OF COOLAMON Inc. 2024-25
Chartered March 3rd, 1971; Sponsoring Club Narrandera Rotary Club
- President: Adrian Lindner
- President-Elect 2025-2026: Mary Potts
- Secretary: Paul Weston
- Treasurer: Mary Potts
- Rotary Foundation Director: Gary Truscott
- Membership Director: Brian Pattison
- Service Projects Director: Anne Rzeszkowski
- Youth Services Director: Scott Mudd
- Club Admin Director: Ian Jennings
- Public Image Director: Grahame Miles
- Sergeant @ Arms: Albert Suidgeest
- Club Environment Representative: Adrian Lindner
- Immediate Past President and Vice-President: John Bond
- Bulletin Editors: Paul Weston and John Glassford
- Webmaster: John Glassford