Our last meeting for 2009 held in October discussed GST Son of Holdback, Investment Allowance and an update on the National Consumer Credit Protection Bill. Many other topics were brought forward on the day for discussion by the members.

1. Automotive Accountants’ Network Forum For Accountants. By Accountants.

2. Maintain the Rage 15 October 2009 Presenter: Angelo Sirianni, Colledge’s FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

3. This presentation has been prepared by Colledge’s for the general information of its clients and seminar attendees. While the information herein has been prepared with all reasonable care and derived from sources believed to be accurate, no responsibility or liability is accepted by Colledge’s or any of its affiliations, for any errors or omissions including liability to any person of negligence or otherwise. Recommendations may not be appropriate in all circumstances and clients must consider their own personal objectives and financial advice before acting on recommendations in this presentation . Colledge’s (ABN 52 439 950 641) FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

4. Quote for the day “ Don’t do anything by half. If you love someone, love them with all your soul. When you go to work, work your ass off...” Henry Rollins Author, Poet, Speaker, Musician FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

5. National Consumer Credit Protection Bill Update FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

10. Current Bill states: “ Exemptions from licensing point of sale retailers, such as car dealerships ... where they engage in credit activities by arranging credit or acting as an intermediary through an arrangement with a lender.” Media release of 14/8/09: National Consumer Credit Protection Package - Draft Regulations Exemption of “point of sale retailers” has reportedly been proposed so that the Government can understand this market before deciding how to regulate it. (Source ANZ) National Consumer Credit Protection Bill FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

16. Colledge’s will continue to research the Bill and keep you up-to-date on future information. National Consumer Credit Protection Bill FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

18. Son of Holdback FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

22. Son of Holdback Spirit of Tasmania Case Court Case: TT-Line Company Pty Ltd v Commission of Taxation [2009] FCA658 Source: Blake Dawson http://www.blakedawson.com/Templates/Publications/x_publications_landing_page.aspx?id=20141 FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

28. Investment Allowance FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

30. Small Business Investment Allowance FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM

31. Large Business Investment Allowance Contract periods FOR ACCOUNTANTS, BY ACCOUNTANTS COLLEDGE’S AUTOMOTIVE ACCOUNTANTS NETWORK FORUM Contracts entered by* 30 June 2009 31 Dec 2009 Assets installed by 30 June 2009 30 June 2010 31 December 2010 30% in 2008-9 30% in 2009-10 10% in 2010-11 10% in 2009-10 10% in 2010-11