A Message from Craig Walden CEO of the Australian Public Service Benevolent Society Ltd Page 1. Craig Walden. Newsletter. Page 2. Page 3.

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1 Spring 2016 Page 1 Message from Craig Walden APS Benevolent Foundation Page 2 Do you have a valid will? Finance from APS Benefits Your 2016 Tax Return. Page 3 Membership & Loans Page 4 Our personal & financial offering Page 5 Check out our NEW website Page 6 Membership & Financial Information Newsletter A Message from Craig Walden CEO of the Australian Public Service Benevolent Society Ltd We are pleased to advise that even in these times where low interest rates prevail, we have been able to maintain our profitability and pass on to our members the same rate of bonus as last year. Your benefit statement proves the power of a cooperative, so take the time to review the bonuses you have received whilst being a member. These bonuses are your reward for being in a co-operative where our profits are used only to benefit our members. Thank you for your continued support. Kind regards Craig Walden APS Benevolent Foundation APS Benefits Group 440 William Street, West Melbourne VIC 3003 Phone (03) Fax (03) info@apsbenefitsgroup.com.au ABN AFSL No The APS Benevolent Foundation is a supporting partner with the Cerebral Palsy Education Centre (CPEC). Cerebral Palsy (CP) is the most common physical disability in Australia and the most expensive to manage. One child every 15 hours is born with, or will develop CP. The CPEC is the ONLY centre of its kind in Australia and provides unique and intensive everyday life programs for babies and children with CP to give them the best possible start in life. Children who attend CPEC are taught strategies which enable them to be engaged in all aspects of their lives and to give everything a go. The APS Benevolent Foundation is a proud supporting partner of CPEC. The APS Benevolent Foundation helping families. Support the APS Benevolent Foundation by donating online or call us on today.

2 Do you have a valid and up-to-date will in place? This is a STORY. A STORY that can be so true. A STORY about what you want when it matters most. THE STORY Dave Smith is on his death bed and knows the end is near. His nurse, his wife, his daughter and 2 sons are with him at his home in London. He asks for 2 independent witnesses to be present and a video camera to be in place to record his last wishes. When all is ready he begins to speak: My son, Bernie, I want you to take the Mayfair houses. My daughter, Sybil, you take the apartments over in the East end. My son, Jamie, I want you to take the offices over in the City. Sarah, my dear wife, please take all the residential buildings on the banks of the Thames. The nurse and witnesses are blown away. They did not realize the extent of his holdings. As Dave slips away, the nurse says to his wife, Mrs. Smith, my deepest condolences. Your husband must have been such a hard-working and wonderful man to have accumulated all this property... Property? Sarah Smith replies. He had a window cleaning business. THE MORAL OF THE STORY Whether it s 10 properties or one, a window cleaning business, or a car, it is really important that everyone has a will. More importantly, a VALID and UP-TO-DATE will. Your loved ones may go through so much more pain and suffering without this being in place. Phil Lambourne is your trusted professional to assist you and your Wills & Estates needs. When it is LEGAL, it MATTERS. Call Phil to make an appointment on or (03) Finance from APS Benefits The banks won t give me a property loan. The credit union I am with is taking too long to approve my loan application. I need an investment loan. I want to re-finance my existing loan. I need short term finance, or even a bridging loan. Can anyone help me? Does this sound familiar? APS Benefits has been in existence since We are the decision maker. Tony Calder Sam Athans Call Tony Calder or Sam Athans on and see how they may be able to assist you in your property finance needs. Lodge your 2016 Tax Return by 31 October Individuals must lodge their tax return with the Australian Taxation Office (ATO) by 31 October, 2016 unless they are registered with a Tax Agent. That means if you haven t yet lodged a 2016 tax return, you shouldn t wait any longer! Don t wait until the last day - Get it out of the way today. Give Richard Ferraro a call from the APS Tax Team on

3 FEATURES & BENEFITS of MEMBERSHIP & LOANS at the APS Benefits Group Take away the burden of your funeral costs from your loved ones when they need it most. You are also entitled to use all of our personal and financial products and services provided by our co-operative organisations. membership l oans As a member of APS Benefits Group you are automatically entitled to a funeral benefit for LIFE. Our profits are returned to members in bonuses increasing your funeral benefits. Bonuses are often more than your membership subscriptions. Your membership subscription will never increase, not like with other insurers. Membership subscriptions can be deducted from your salary in most cases. You gain exclusive access to our pre-approved loans service with reduced interest rates for long serving members. Quick approval on property and personal loans. We are the decision makers. Apply or top up your loan anytime online at Test your mortgage or investment loan interest rate. Call us for a free interest rate check. Let the APS Benefits Group find the loan you want. Your funeral benefit can be released within 24 hours of your passing (not weeks or months). Membership for existing members is FREE after you turn 70. Funeral cover is available to all aged It does not cease when you stop work. Guaranteed acceptance of your funeral benefit application. No medical checks. Refer a friend that joins as a member of APS and receive $50 as a thank you (excluding Children s Funeral Cover). APS Benefits Group 440 William Street, West Melbourne VIC 3003 Phone (03) Fax (03) info@apsbenefitsgroup.com.au ABN AFSL No

4 We are Personal We are Financial Helping Families Funeral Benefits Financial Planning Tax & Accounting Property & Personal Loans Savings & Investments Insurance Wills, Estates & Probate Conveyancing Legal Services APS Benefits Group 440 William Street, West Melbourne VIC 3003 Phone (03) Fax (03) ABN AFSL No Disclosure Information: Membership of the APS Benefits Group automatically entitles you to a funeral benefit issued by the APS Benefits Group. You should consider the Combined Product Disclosure Statement & Financial Services Guide (available from the APS Benefits Group or our web site on before making a decision to become a member of the APS Benefits Group or buy any products offered by the APS Benefits Group. Financial services provided by the APS Benefits Group are provided under its AFSL No Financial planning services are provided by APS Financial Planning Pty Ltd. APS Financial Planning Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Pty Ltd - Financial Planning Services Australia. ABN AFSL APS Savings Disclaimer: This is not a bank product, it is an unlisted APS Note. No independent assessment has been made about the risk to investors losing any of their principal investment. Applications for APS Notes can only be made on the Investment Application Form which accompanies the prospectus issued by APS Savings Ltd. Please read the prospectus carefully before deciding whether to make an investment. APS Will & Estates: Liability limited by a scheme approved under Professional Standards Legislation. 4

5 The APS Benefits Group has a NEW Website The APS Benefits Group has a new website and a new website address Type in the new address to access some of the new features such as: Our Funeral Benefit Calculator or... What s New at the APS Benefits Group or... Apply for Membership Online, as well as continue to... Apply for a Loan Online. You can even... Donate to the APS Benevolent Foundation Online. Our website is now responsive ensuring an improved web browsing experience, all accessed from the comfort of your smartphone (both iphone and Android), your computer or other electronic devices. Please remember to update your APS Benefits bookmark or favourites. 5

6 Membership & Financial Information The following summary is prepared from our annual report. For a copy of the full report please contact us on or view it on our website: As at 30/06/2016 Number of members/clients 29,244 Net gain/(loss) 9 Deaths (222) Resignations (175) Terminations (940) New members/clients 1,346 FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2016 $ Revenue from operations 14,617,977 Employee benefits expense (2,387,552) Depreciation and amortization expense (97,826) Benefits paid to members (2,399,610) Changes in mortuary fund liabilities (5,223,000) Occupancy expense (72,963) Postage and telephone expense (125,334) Bad debts expense (1,201,816) External services expense (595,787) Board and AGM expenses (190,649) Marketing expense (250,955) Other expenses (1,451,034) Surplus before tax 621,451 Income tax expense (1,737,592) Other comprehensive income Net gain on revaluation of property 1,000,000 Total comprehensive income/(loss) (116,141) FINANCIAL POSITION AS AT 30 JUNE 2016 $ CURRENT ASSETS Cash and Cash Equivalents 5,749,706 Trade and other receivables 27,996,282 Other financial assets 3,894,535 Other 75,972 Total current assets 37,716,495 NON-CURRENT ASSETS Trade and other receivables 75,445,550 Property, plant and equipment 3,440,281 Intangible assets 62,072 Deferred tax asset 1,763,931 Total non-current assets 80,711,834 Total assets 118,428,329 CURRENT LIABILITIES Trade and other payables 17,815,929 Current tax liabilities 378,241 Provisions 669,254 Mortuary fund 2,067,500 Total current liabilities 20,930,924 NON-CURRENT LIABILITIES Debenture Notes Issued 9,239,322 Deferred tax liabilities 550,786 Provisions 25,921 Mortuary fund 81,740,500 Total non-current liabilities 91,556,529 Total liabilities 112,487,453 Net Assets/Reserves 5,940,876 As at 30/06/ , (218) (212) (703) 1,526 $ 13,966,101 (2,203,639) (86,153) (2,357,322) (4,886,000) (66,621) (122,390) (1,309,209) (544,258) (178,011) (262,389) (1,171,667) 778,382 (1,306,469) - (528,087) $ 3,831,942 28,859,589 3,707, ,559 36,835,461 60,839,381 2,475,675 58,122 1,759,550 65,132, ,968,189 13,930, , ,302 2,103,250 17,419,836 1,791, ,124 23,634 76,481,750 78,523,355 95,943,191 6,024,998 William Szuch F.I.A.A. has prepared the 2016 actuarial report. The actuary s valuation basis values liability in respect of each member, as the present value of future death benefits of basic cover and declared bonuses, and any bonus recommended at the review date less the present value of future premiums, after an allowance for future expenses. The actuary s valuation of the mortuary liabilities at 30 June 2016 is $83,808,000 ( $78,585,000). 6