Talking Concepts

Talking Concepts March 2020

Macquarie Cash Management Account (CMA) - Transaction Notifications

Macquarie are introducing new notifications to increase transparency of account activity to all their CMA clients.

What this means

As a part of improving protection for deposit accounts with third party access and to provide you with a safe and secure platform, you’ll soon receive a real-time notification when your adviser or an authorised third party processes a transaction on your CMA and/or Cash Management Accelerator Account.

What you need to know

  • We’ll be introducing notifications on the CMA in a phased approach from late January
  • Notifications will be triggered when you request C&R Financial Management to make a transaction on your account
  • You don’t need to take any action – it’s a short alert to confirm a transaction has been made
  • If you have the Macquarie Mobile Banking app (mBanking) you’ll receive a push notification to your device with the transaction details
  • If you haven’t downloaded the app, you’ll receive an SMS notification
  • You can customise your notifications via the app or Macquarie Online
  • If you have difficulties changing your notification settings or don’t have access to the internet, please contact Macquarie direct on 1800 806 310.
An example of the transaction notification message is shown below.

Phased approach

You’ll begin to receive transaction notifications initiated by C&R Financial Management from January 2020.

Familiar experience

If you have other personal banking products with Macquarie, you may already receive notifications from mBanking. The experience of receiving notifications will be similar, and if you decide you no longer want to receive CMA transaction notifications, you can opt out of these notifications via the app settings.

Customise your notifications

You can change your notification settings so that you are only notified on transactions over a limit you specify or opt-out of all notifications by following the steps below:

  1. Log in to Macquarie Online with your Macquarie ID and Password
  2. Click on ‘My profile’ that appears within your name in the top right of the screen
  3. Click on the ‘My notifications’ button within the Tab at the top of the screen
  4. Type in the minimum amount you wish to be notified for in the box on the right of the screen, in line with the Notification Type of ‘Third Party Payments’ or Toggle off the ‘Third Party Payments’ transaction type to switch off notifications for your Cash Management Account
  5. Click ‘Save’ to confirm changes

You can also opt-out of receiving transaction notifications from the Macquarie Mobile Banking App by following the steps below:

  1. Click the ‘My profile’ icon (this appears on the bottom right of the screen in mobile devices).
  2. Click ‘Settings’
  3. Click the ‘Notification types enabled’ option
  4. Toggle off the ‘Third Party Payments’ transaction type

If you haven’t downloaded mBanking, you’ll receive an SMS notification for these CMA transactions. If you don’t want to receive the SMS, please download the app.

New Laws on pets in rental properties

From Monday, 2 March 2020, new laws mean it will be easier for renters to have a pet. 

Renters can keep pets at a rental property, with the written permission of the rental provider (landlord). Rental providers can only refuse permission with approval from the Victorian Civil and Administrative Tribunal (VCAT).

Under the law, a pet is any animal except an assistance dog.

More information can be found on the Consumer Affairs Victoria Webpage:

Tips for Paying off your Home loan faster this financial year

Source: Choice Aggregation

A new financial year can be a great time to set money goals, such as paying down a home loan. Paying off a mortgage early can save on interest, free up cashflow each month and help you enjoy all the benefits of a debt-free lifestyle.

If reducing your mortgage debt is a key financial goal for FY20, here we provide some tips to kick-start your plan.

Make fortnightly payments

Instead of making one monthly payment, you can instead opt to make a half-sized payment every two weeks. Because there are 26 fortnights in the year, this strategy will result in you making an extra monthly payment every year.

Let’s look at some real-life numbers. If you had taken out a 30-year loan of $400,000 at an interest rate of 4%, making fortnightly repayments would save you around $45,000 in interest payments, shaving four years and one month off your mortgage. That’s an impressive outcome for a relatively minor change.

Increase your monthly repayment while rates are low

Another potential strategy to get the mortgage off your back sooner is to simply increase your monthly home loan payments. With interest rates at historic lows, there has never been a better time to reduce the principal on your mortgage, so make hay while the sun shines.

On a 30-year mortgage of $400,000, increasing repayments by $100 per month would cut 2 years and 7 months off the loan, resulting in an interest saving of $27,500. And don’t forget that adding any windfalls such as bonuses or an inheritance to your home loan can also take you closer to your goal.

Just check with your lender before changing your payment amount, as there may be limits on the amount of additional repayments you are allowed to make, particularly if you have a fixed rate loan.


Use an offset account

An offset account is a transaction account that is connected to your home loan. Any funds held in your offset are subtracted from what is owing on your mortgage before your interest repayment is calculated.

Holding any savings in your offset account and having your wages paid into it every month can be a great way to save on interest. Offset accounts also offer financial flexibility as the funds can be withdrawn at any time.

Consider consolidating your debts

If you have debt outside of your home loan, such as a car loan or credit cards, a debt consolidation home loan could help to simplify your affairs, as well as saving money.

As personal loans and credit cards will generally have a much higher rate of interest than your home loan, consolidating all of your debt into your home loan makes good financial sense.

While in the short-term this will mean the amount you owe on your mortgage actually increases, over the long-term the interest savings accrued could be used to increase your repayments on your mortgage.

Protect your repayments

When you take on a home loan, you are expected to pay off most of this significant outlay over the course of your life. However, unforeseen events can happen which can derail your plans.

Most lenders offer mortgage protection insurance, also known as home loan insurance or consumer credit insurance, which covers your mortgage repayments in the event of involuntary loss of employment, serious illness or death.

As some of these policies exclude part-time, casual and contract workers, speak to your mortgage broker about the cover that best suits your needs.

Xero Pricing Changes and Plan Update

If you are on a Xero Starter, Standard or Premium plan there will be an increase of $2.00 per month from 18 March 2020.

The price increase is because Xero have incorporated Hubdoc into these 3 plans. A separate Hubdoc subscription would normally have cost you $27.50 per month.

Below is an extract of the advantages of using Hubdoc with your Xero file as explained by Xero.

How does Hubdoc work:

  • Easily captures bills and receipts – Hubdoc makes it easy to upload documents using your desktop, mobile device, email or scanner.
  • Let Xero do your data entry – Once documents are uploaded to Hubdoc, the key data is automatically extracted and synced to Xero as accurately coded transactions.
  • Enjoy one-click bank reconciliation – Xero then matches these transactions to the bank feed for one-click reconciliation.
  • Go paperless – All your documents are searchable and easy to access from anywhere in the world
  • Say goodbye to manual data entry
  • Automating admin tasks means you can spend less time managing documents and more time doing what you love.

To read more about the Xero pricing change –

To read more about Hubdoc –

If you would like to find out how to implement Hubdoc as part of your Xero package, please call our office and speak to your bookkeeper.

While australia is in Isolation

Concepts & Results are monitoring Government advice regarding the situation in relation to the Covid-19 virus.

We are taking steps to minimise contact with clients and making it possible for our team members to work from home.

Please rest assured that Concepts & Results Group, including Alltrades Bookkeeping, Results Home Loans and C&R Financial Management will continue to operate as usual.

Our priority is the security of our clients and team members

Lodging Activity Statements via myGOVid

Do you have an ABN and lodge your Activity Statements via the ATO Business Portal using AUSkey?

If yes, please be aware that AUSkey will be abolished and replaced with myGovID on 27 March 2020.

myGovID is a digital identity on your smart device used to log into selected government services. myGovID is different to myGov.

myGovID allows the user to prove to the government who they are, similarly to an ID on your phone.

myGov is the front door to a range of government online services, including Medicare, myTax and Centrelink in the one place using a single login and password.

If you do not want to set up a myGovID, Concepts & Results are offering a “no frills” lodgement service for a minimal fee per Activity Statement for its existing Accounting & Tax and Bookkeeping clients. Whereby, you provide our office via email the figures to be recorded into your Activity Statement for lodgement. We will not check or verify any of the information provided by you. However, if the information supplied does not seem credible to our Accountants, or appears to be inconsistent with a previous pattern of claim or statement, further enquiries would be required and additional fees may be charged.

Once the information is recorded, the Activity Statement will be emailed to you via Xero for your perusal and signature.

If you would like to take up this offer, please contact our office after you have lodged your most recent Activity Statement, so that we can ensure that you are added to the Concepts & Results Tax Agent Portal in preparation for the next Activity Statement.

Concepts & results group

More than just an Accounting Practice………

All Trades Bookkeeping

Can help with all your bookkeeping needs, big or small. We have a team of bookkeepers who are all Xero Accredited.

Results Home Loans

Buying your first home, an investment property, need to refinance or want a Line of Credit to pay for home extensions or holiday. Talk to our Loan experts and let them guide you through the process.

C&R Financial Management

From purchasing investment properties, long term investment goals, share purchases, SMSF management to personal insurance, let our financial planning team help you achieve your financial goals.

Concepts & Results

And of course the backbone of our company our Accounting and Tax team can look after all of your Company, Personal, Trust and SMSF tax requirements.


Did you know...

No piece of paper can be folded in half more than seven (7) times.

Donkeys kill more people annually than plane crashes or shark attacks.

Oak trees do not produce acorns until they are fifty (50) years of age or older

Most dust particles in your house are made from dead skin

The first owner of the Marlboro Company died of lung cancer. So did the first Malboro Man

Walt Disney was afraid of mice

It is possible to lead a cow upstairs.. but not downstairs

A duck’s quack doesn’t echo

Apples, not caffeine are more efficient at waking you up in the morning

Relay for Life

On Friday 21 February at 6pm our team started walking and didn’t stop until 11.30am Saturday 22 February.

The team is made up of C&R staff and their family and friends. We come together to show our support for loved ones who have suffered through cancer treatment, survived and those that are no longer with us.

Cancer is a very real disease and affects every person in some way.

This year our team raised $11,680 surpassing our target of $10,000. In the coming year we hope to raise another $15,000!

We have regular fundraisers throughout the year including Gold Class movie sessions, restaurant dinners, raffles and much more. If you would like to become involved and support our team or an event give Beth Campbell a call on 9569 5676 or email

Dates to Remember

31 Mar – Fringe Benefit Tax end of year. Remember to take your odometer reading.

25 Apr – Anzac Day

28 Apr – Superannuation Guarantee contributions for March quarter due

31 May – FBT returns due

26 May – March 2020 BAS due if ELS lodged with C&R

30 Jun – end of finandial year

2019 Income Tax Return

If you haven’t lodged your 2019 Income Tax Return, time is running out!

To ensure that your Return is lodged on time, give our office a call on 9569 5676 to find out your due date.

Reminder that the ATO issue penalties and interest on lodgement lodgement of returns and late payment of tax.

Visit us

Want to discuss the above face to face? Come visit our specialised team members to find out more.

612 Warrigal Road, East Malvern PO Box 61, Holmesglen, Vic 3148

Call us

Have any questions? Further discussions on the above can be may be held over a telephone appointment.

(03) 9569 5676

Contact us

For any and all queries regarding the above, you may contact Concepts & Reuslts by emailing us