Collins Hume named Finalists in the 2025 Australian Accounting Awards Collins Hume has been named Finalists in two categories at the 2025 Australian Accounting Awards: Regional/Suburban Firm of the Year and Marketing Program of the Year. This recognition places Collins Hume among Australia’s leading accounting firms, with the awards program celebrating the profession’s outstanding achievements across 36 categories. Finalist selection reflects the calibre of submissions, which grew by 20% this year! “There was a remarkable increase in submissions this year. As Finalists, Collins Hume has been recognised amongst Australia’s top accounting professionals and businesses,” said Natalie Phan from the Australian Accounting Awards Team at Momentum Media. Partner Peter Fowler said it was important to recognise the Collins Hume team for their energy, care and professionalism. “Being recognised in two national categories highlights not only the strength of our regional presence but also our focus on innovative communication. Our team’s commitment to driving meaningful outcomes for our clients is what sets us apart.” “Being nominated isn’t just about external recognition; it’s a reflection of the culture we’ve built together and the standards we uphold for our clients and community.” “Awards might not show up on a balance sheet, but they do speak volumes about our values, commitment and reputation. They validate the things that can’t always be measured like quality service, innovation, teamwork and impact,” Peter added. The winners will be announced at a gala awards evening in Sydney on Friday 20 June 2025. Read more at https://www.accountantsdaily.com.au/australian-accounting-awards/awards/about

Managing cash flow for business and lifestyle success A full house of Northern Rivers business owners gathered at Ramada Ballina on 6 May for Collins Hume’s “Cash is King” seminar, an energising and practical session designed to help local businesses unlock cash flow and drive future-focused decision-making. Delivered by Collins Hume’s Senior Business Advisor Nathan McGrath together with renowned Business Strategist Mark Holton, the session was praised by attendees for its clarity, practical relevance and impact. “It was indeed my pleasure to participate in the Collins Hume Cash is King seminar,” Mark Holton said. “I thought it was meticulously organised, very well attended with engaged delegates and brilliantly presented by Nathan.” “I have done several of these sessions for accounting firms in Australia and overseas and this was by far the best!” Delegates walked away with actionable tools to strengthen their business resilience, including scenario testing techniques and the ‘1% driver calculator’, which illustrates the profound impact of small operational changes. Attendees appreciated the power of cash flow forecasting, the use of business modelling software, and Collins Hume’s 360° approach to business advice. Many reflected on a renewed motivation to future-proof their business, with one delegate noting, “It’s exciting to see how small shifts can make a big difference.” Others highlighted the power of understanding key financial drivers beyond profit, particularly the fragility of profit when cash flow isn’t managed well. Nathan McGrath said, “It was great to see everything come together so well. It was an awesome session for everyone involved!” The event reinforced the role cash flow plays not just in surviving uncertainty but in seizing growth opportunities. Collins Hume’s ongoing commitment to practical, strategic business advisory continues to resonate strongly with the Northern Rivers business community. For more about Collins Hume’s 360° Business Solutions visit collinshume.com/360 . A Lasting Impact Beyond the Seminar Thanks to attendee support, this event delivered impact far beyond the business community. Through ticket sales and attendee participation, 66 weeks of education  will be provided to children in need via B1G1 and partner charity So They Can, helping create brighter futures through learning. We sincerely thank everyone who attended for contributing to this meaningful outcome! Learn more at collinshume.com/legacy  and www.sotheycan.org .

The Government has announced its intention to introduce mandatory standards for large superannuation funds to, amongst other things, deliver timely and compassionate handling of death benefits. Do we have a problem with paying out super when a member dies? The value of superannuation in Australia is now around $4.1 trillion. When you die, your super does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the fund rules, superannuation law, and any death benefit nomination you made. Complaints to the Australian Financial Complaints Authority (AFCA) about the handling of death benefits surged sevenfold between 2021 and 2023. The critical issue was delays in payments. While most super death benefits are paid within 3 months, for others it can take well over a year. The super laws do not specify a time period only that super needs to be paid to beneficiaries “as soon as practicable” after the death of the member. How to make sure your super goes to the right place Death benefits are a complex area. The superannuation fund trustee has discretion over who gets your super benefits unless you have made a valid death nomination. If you don’t make a decision, or let your nomination lapse, then the fund has the discretion to pay your super to any of your dependants or your estate. There are four types of death nominations: Binding death benefit nomination: Directs your super to your nominated eligible beneficiary, the trustee is bound by law to pay your super to that person as soon as practicable after your death. Generally, death benefit nominations lapse after 3 years unless it is a non-lapsing binding death nomination. Non-lapsing binding death benefit nomination: If permitted by your trust deed, a non-lapsing binding death benefit nomination will remain in place unless you cancel or replace it. When you die, your super is directed to the person you nominate. Non-binding death nomination: A guide for trustees as to who should receive your super when you die but the trustee retains control over who the benefits are paid to. This might be the person you nominate but the trustees can use their discretion to pay your super to someone else or to your estate. Reversionary beneficiary: If you are taking an income stream from your superannuation at the time of your death (pension), the payments can revert to your nominated beneficiary at the time of your death and the pension will be automatically paid to that person. Only certain dependants can receive reversionary pensions, generally a spouse or child under 18 years. Who is eligible to receive your super? Your super can be paid to a dependant, your legal representative (for example, the executor of your will), or someone who has an interdependency relationship with you. A dependant for superannuation purposes is “the spouse of the person, any child of the person and any person with whom the person has an interdependency relationship”. An interdependency relationship is where someone depends on you for financial support or care. What happens if I don’t make a nomination? If you have not made a death benefit nomination, the trustees will decide who to pay your superannuation to according to state or territory laws. This will be a superannuation dependant or the legal representative of your estate to then be distributed according to your Will. Where it can go wrong There have been a number of court cases over the years that have successfully contested the validity of death nominations. For a death nomination to be valid it must be in writing, signed and dated by you, and witnessed. The wording of your nomination also needs to be clear and legally binding. If you nominate a person, ensure you use their legal name. If your super is to be directed to your estate, ensure the wording uses the correct legal terminology. One of the reasons for delays in paying death benefit nominations cited by the funds is where there is no nomination (or it is expired or invalid), there are multiple potential claimants, and the trustee needs to work through sometimes complex family scenarios. The bottom line is, young or old, check your nominations with your superannuation fund and make sure you have the right type of nomination in place, and it is valid and correct. While there still might be a delay in getting your super where it needs to go if you die, the process will be a lot quicker and less onerous for your loved ones. Ask to speak with Collins Hume's knowledgeable superannuation advisers to find out more on 02 6686 3000.

YOU. That’s all we focus on. You, your family, your wealth and the legacy you (and we) leave. That’s it. Join us on this amazing journey. IMPACT. Making a Lasting Impact Together At Collins Hume, our purpose is simple: to inspire business owners to achieve success in powerful and meaningful ways. True success goes beyond financial growth. It’s about creating a positive, lasting legacy that benefits our local community and the world—a living legacy that will endure for future generations. We’re proud and feel privileged to live, work, and contribute to one of the most beautiful and prosperous regions in Australia. Every day, our efforts support the beauty and success of our community, and we’re committed to giving back to ensure its continued prosperity. But our impact extends far beyond our local communities. Like you, we care deeply about a better future—for your family and families worldwide. Access to essentials like clean water, education, and food is a cause we all share. Like you, we care deeply about a better future—for your family and families worldwide. Access to essentials like clean water, education, and food is a cause we all share. Through our partnerships with 1% for the Planet and B1G1, every time you engage with Collins Hume, you’re helping make a meaningful difference on a global scale. Together, we’re supporting high-impact initiatives that provide clean drinking water, education, and vital resources to needy communities. We sincerely thank you for partnering with us. Through our shared commitment to purpose-driven success, we’re not just building a better future for you but helping create a better world. As a Business For Good, we can (and do) change lives.

Collins Hume | We have one focus — YOU —with us, you'll be looking way beyond the traditional horizons most accountants are restricted to. Let's TALK Ballina Location

YOU. That’s all we focus on. You, your family, your wealth and the legacy you (and we) leave. That’s it. Join us on this amazing journey. WORKING TOGETHER. Would you like assistance from Collins Hume to enhance your business profits, valuation and lifestyle? * YES NO Would you like an obligation-free review of your superannuation and wealth creation strategies with a financial adviser? * YES NO Would you like our finance broker to contact you for a complimentary review of your home loan or investment loans? * YES NO Submit Thanks for submitting!