Level 1, 434 Nepean Highway Frankston Vic 3199 Ph: 03 9781 2633 Fax: 03 9781 3073
Email: accountant@shepard.com.au

WELCOME FROM THE MANAGING DIRECTOR

Shepard Webster & O'Neill Pty Ltd is a leading accounting and advisory firm whose strong client relationships have helped deliver proven results for our clients. We are very proud to advise that we have many clients that have been with our CPA firm for a great many of the more than 60 years that we have been established.

With our experienced team of Directors and staff, operating from our well located offices in Frankston, Victoria we offer a broad range of professional services to individuals, and business structures including partnerships, trusts, self managed superannuation funds, and corporate organisations across a wide range of industry sectors.

As part of the Firm's continual growth we are pleased to announce the admission of Greg Taranto as the firm's fifth Director, and part owner from 1st July 2009. Greg holds a degree from Monash University, and is a Chartered Accountant.

Our depth of service and proven results speak for themselves. We offer expertise in the following service areas: audit and assurance, financial accounting and reporting, taxes of all types including income, capital gains, goods & services, and fringe benefits.

We also offer financial services through our affiliated company, the Peninsula Financial Group Pty Ltd.

There is no doubt we will be in a challenging economic environment for some time. There is strong evidence of the optimism typical of our Australian culture. As accountants and advisors who have seen a number of similar economic cycles, our focus will remain firmly on helping our clients minimise the dangers, and help them realise the opportunities that arise. Our client's needs are our first priority.

David Osborne
Managing Director

INVESTMENT ALLOWANCE TAX BREAK

Taxpayers who are carrying on a business may be entitled to claim a tax break in the form of a bonus tax deduction, on top of the usual capital allowance (depreciation) deduction available.

Assets eligible for the allowance are restricted to new tangible depreciating assets and new expenditure on existing assets used in carrying on a business. The tax break varies based on whether or not you are classified as a small (turnover $2M or less) or large business.

Small business may claim 50% for assets acquired up to 31/12/09 and installed ready for use by 31/12/10.

Large business may claim 30% for assets acquired up to 30/6/09 and installed ready for use by 30/6/10 or 10% for assets acquired up to 31/12/09 and installed by 31/12/10.

PROFESSIONAL STANDARDS LEGISLATION

Professional standards legislation (PSL) is state legislation implemented to improve professional standards and to protect consumers. As consumers of our accounting services, you are protected by the insurance and risk management standards made compulsory by CPA Australia and recognised under PSL.

As a member of a professional body which has high professional values you have assurance that we are engaged in a cycle of peer review to ensure that our practice is quality assured.

By dealing with us you can be assured that we hold a Public Practice Certificate, hold professional indemnity insurance, are recognised under PSL, undertake independent ongoing quality control and, engage in continuing professional development.