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Port of Melbourne Debate Sharpens Why Getting It Wrong Is Not an Option SEE PAGE 19 ISSUE 59 | SPRING 2015 priorityreport Port of Melbourne debate sharpens Why getting it wrong is not an option SEE PAGE 19 Work starting Australian Fresh start on City Link Freight Industry for Melbourne Tulla widening Awards winners Market PAGE 14 PAGE 22 PAGE 26 CONTENTS 13 4 The VTA team 5 President’s welcome 7 CEO report 8 Committee reports 16 10 Industrial relations report 11 VWMA report 12 NHVR actively supporting heavy More super, less tax. vehicle industry More super, less tax. 17 14 CityLink Tulla widening starts Seriously. 16 Forthcoming VTA events 17 VTA annual conference wrap-up More super, less tax. 18 What’s new at the 2016 If you’ve hit your 60s and are worried you’ve left your super a bit late, a Transition International Truck, Trailer & Equipment Show? to Retirement strategy may be just the thing to help you make the shift from work to retirement.Seriously. It can help you boost your super before you retire and save you 19 Port of Melbourne lease a hot topic tax. Even better, it can do both of these things while keeping your take-home pay 19 tax. Even better, it can do both of these things while keeping your take-home pay 20 VTA Port Outlook a major success exactly the same. If you’ve hit your 60s and are worried you’ve left your super a bit late, a Transition 22 AFIA winners celebrated in style to Retirement strategy may be just the thing to help you make the shift from work 26 More traffic as Melbourne Market to retirement. It can help you boost your super before you retire and save you With a Transition to Retirement strategy you can You don’t have to be wealthy to start a Transition to relocates With a Transition to Retirement strategy you can You don’t have to be wealthy to start a Transition to continuetax. working Even fullbetter, time, makeit can salary do sacrificeboth of these thingsRetirement while pension keeping and whetheryour take-home it’s suitable depends pay continue working full time, make salary sacrifice Retirement pension and whether it’s suitable depends contributionsexactly from the your same. pay to boost your super, and on your personal circumstances, but setting the pension 28 Concerns about truck curfews contributions from your pay to boost your super, and on your personal circumstances, but setting the pension top-up your reduced pay with pension income. up correctly is important which is why we’re here to help. top-up your reduced pay with pension income. up correctly is important which is why we’re here to help. 30 Madgwicks puts case for CoR The benefits mostly result from certain tax breaks: Call us on 1800 222 071 and ask to speak with one of The benefits mostly result from certain tax breaks: Call us on 1800 222 071 and ask to speak with one of ‘reasonable steps’ defence our financial advisers about TransPension, our pension • Tax concessions: Salary sacrifice super contributions our financial advisers about TransPension, our pension • Tax concessions:With a Transition Salary to Retirement sacrifice superstrategy contributions you can product.You don’t And have remember, to be wealthy our tofinancial start a Transition advisers todon’t 20 are taxed at 15%, compared to your marginal tax rate product. And remember, our financial advisers don’t 32 Transport operator’s safety are taxedcontinue at 15%,working compared full time, to make your salary marginal sacrifice tax rate earnRetirement any commissions pension and – whetherthey’re paidit’s suitable to help depends you, not by which is likely to be higher. earn any commissions – they’re paid to help you, not by performance applauded whichcontributions is likely to befrom higher. your pay to boost your super, and howon your much personal they sell. circumstances, but setting the pension • Tax-freetop-up earnings: your reduced Investment pay with earnings pension in income. a howup correctly much they is important sell. which is why we’re here to help. • Tax-free earnings: Investment earnings in a pension are tax-free, while those in super are normally More super, less tax, same take-home pay. 33 Understanding ATO risk areas pensionThe benefitsare tax-free, mostly while result those from in certain super tax are breaks:normally MoreCall us super, on 1800 less 222 tax, 071 sameand ask take-home to speak with pay. one of taxed at up to 15%. If you’re over 60 and still working, you need to taxed• Tatax up concessions: to 15%. Salary sacrifice super contributions Ifour you’re financial over advisers 60 and about still TransPension,working, you our needpension to 34 VTA partners • For people 60 or over, the income from a talkproduct. to us And today, remember, seriously. our financial advisers don’t • For peopleare taxed 60 ator 15%,over, compared the income to your from marginal a tax rate talk to us today, seriously. Transitionwhich to is Retirement likely to be higher.pension is tax-free. earn any commissions – they’re paid to help you, not by Transition to Retirement pension is tax-free. how much they sell. • Tax-free earnings: Investment earnings in a pension are tax-free, while those in super are normally More super, less tax, same take-home pay. taxed at up to 15%. If you’re over 60 and still working, you need to CONTRIBUTORS • For people 60 or over, the income from a talk to us today, seriously. NHVR, Transburban, Madgwicks, Zurich, low fees all benefits to members no commissions THE VTA THANKS OPTUS AND TWUSUPER FOR THEIR low feesTransition all tobenefits Retirement to pensionmembers is tax-free. no commissions ONGOING SUPPORT OF THE PRIORITY REPORT. Cummings Flavel McCormack Financial advice services are offered through TWUSUPER’s relationship with Industry Fund Services Ltd (‘IFS’) ABN 54 007 016 195 AFSL No. 232514. As the licensed provider of the financialFinancial adviceadvice servicesservices, are IFS offered is directly through responsible TWUSUPER’s to you forrelationship those services. with Industry TWUSUPER Fund is Services not responsible Ltd (‘IFS’) for ABN any 54 loss 007 or 016damage 195 AFSL incurred No. 232514.by any personAs the thatlicensed arises provider from financial of the COVER: The busy city port is bustling with advicefinancial received advice underservices, this IFS arrangement. is directly responsible The information to you above for those is of aservices. general TWUSUPERnature only isand not does responsible not take forinto any account loss or any damage of your incurred objectives, by any financial person situation that arises or fromneeds. financial Before actingadvice onreceived any of under the information, this arrangement. you should The informationconsider its aboveappropriateness is of a general having nature regard only to and your does objectives, not take financial into account situation any of and your needs. objectives, A copy financial of the current situation Product or needs. Disclosure Before activity as cranes tend to the containers Statementacting on any should of the below information,obtained fees from you allus should on benefits 1800 consider 222 071to its or appropriateness membersat www.twusuper.com.au no having commissions regard before to you your make objectives, any decision financial about situation TWUSUPER. and needs. TWU NomineesA copy of the Pty currentLtd, ABN Product 67 002 Disclosure 835 412, TSR1024 and tugs direct freighters out to sea. Image AFSLStatement 239163 should (‘TWUSUPER’) be obtained is fromthe trustee us on 1800 of the 222 TWU 071 Superannuationor at www.twusuper.com.au Fund ABN 77 before 343 563 you 307.make any decision about TWUSUPER. TWU Nominees Pty Ltd, ABN 67 002 835 412, TSR1024 AFSL 239163 (‘TWUSUPER’) is the trustee of the TWU Superannuation Fund ABN 77 343 563 307. courtesy of Port of Melbourne. Financial advice services are offered through TWUSUPER’s relationship with Industry Fund Services Ltd (‘IFS’) ABN 54 007 016 195 AFSL No. 232514. As the licensed provider of the financial advice services, IFS is directly responsible to you for those services. TWUSUPER is not responsible for any loss or damage incurred by any person that arises from financial advice received under this arrangement. The information above is of a general nature only and does not take into account any of your objectives, financial situation or needs. Before acting on any of the information, you should consider its appropriateness having regard to your objectives, financial situation and needs. A copy of the current Product Disclosure Statement should be obtained from us on 1800 222 071 or at www.twusuper.com.au before you make any decision about TWUSUPER. TWU Nominees Pty Ltd, ABN 67 002 835 412, TSR1024 AFSL 239163 (‘TWUSUPER’) is the trustee of the TWU Superannuation Fund ABN 77 343 563 307. Priority Report | SPRING 2015 3 PRESIDENT’S WELCOME VICTORIAN TRANSPORT ASSOCIATION Wirraway Drive Fishermans Bend 3207 PO Box 5 South Melbourne 3205 PRESIDENT’S WELCOME Welcome to this Spring between Geelong and the Port of • Metropolitan Brad Close edition of the Priority Melbourne. Express Peter Anderson Industry Services Lexi Aivaliotis Report, which reviews Transport Services Chief Executive Officer Manager Reception It has also committed to a major for ‘Investment In [email protected] [email protected] [email protected] the numerous activities, upgrade to regional freight through People’; issues and events that the Murray Basin Rail Project. The have occupied the Victorian $416 million project will standardise • FBT Transwest & Metropolitan Transport Association over rail lines across the Murray Express for ‘Best Practice Safety’; Kevin Halpin Alene McGowan Basin region, providing the Port the past few months. • Prixcar Services Pty Ltd for Relationship Administration Andrew Tytherleigh of Portland direct access to the ‘Investment In Technology’; Manager Manager Executive Officer VWMA Murray Basin freight network for [email protected] [email protected] [email protected] the first time.
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