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From Craig’s desk

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Welcome to the final newsletter for 2022 and thank you from the Vault Team.

As December is upon us, it is time to say thank you to our wonderful clients for your support during 2022. For Vault the team has changed dramatically over the year merging with four offices and welcoming many new team members.

In late November we travelled to Manila for the team training and to finally meet the team face to face, the highlights of the trip are here.

It has been a year where we have worked closely to identify where Vault sits and how we can be assist our clients, we hope that the shift to a more flexible office approach as improved the experience that you enjoy from dealing with Vault. We are proud of what the team has achieved throughout the year and are looking forward to what 2022 will bring.

We welcome Cane and Valerie to the team, Cane is based in the offshore team and Valerie is joining the Brisbane taxation team working closely with me. Adam is joining the financial planning team and will assist in offering additional financial planning services.

We have opened our Inverell Office at 79 Otho Street, and in the new year will be inviting you to visit our newly finished offices.

The local team will be catching up in Inverell next Friday again to finally meet face to face but to also reflect on what has been a brilliant 2022.

Christmas Closure

Office Dates closed Dates opening Contact During the Break
Bingara Wednesday, 21 December 2022 Monday, 23 January 2023 (07) 3012 6724 /
Brisbane Friday, 23 December 2022 Tuesday, 10 January 2023 (07) 3012 6724 /
Inverell Friday, 23 December 2022 Tuesday, 10 January 2023 (07) 3012 6724 /
Grafton Thursday, 22 December 2022 Tuesday, 10 January 2023 (07) 3012 6724 /
Moree Wednesday, 21 December 2022 Tuesday, 17 January 2023 (07) 3012 6724 /
Central Queensland Friday, 23 December 2022 Tuesday, 10 January 2023 (07) 3012 6724 /

Need Help Over the Break?

During this time the phones will still be answered and the Team will be available via Teams chat and the online chat. All emails will be getting read, so if you need assistance feel free to contact us.

Craig will be in Grafton, Moree and Bingara during this period and if you need to make a time to catch up, calling the office number will get you in touch with us.

Technology got the best of us and we have had to re-schedule the survey for next year, we will send through new details once we have found a more solid service provider.

Vault is trying to constantly improve and any feedback is welcomed, please email us at

Thank you again from the Vault Team




and the  2022 in Reflection

2022 has been a year of change in Vault and we are proud to continue to work with you

We have refined the focus on Vault throughout the year and with expansion can now offer a wider and better tailored range of support to our clients. We have been lucky enough to expand the team from 14 to over 25 during the year, and have enjoyed a stable Team throughout the year.

As a team we have worked hard to further streamline our business and we hope you are seeing the benefits in faster communications and work turnaround, it is not perfect but we are seeing improvements each day.

Some of the highlights from the year have included;

In November 2021 we decided to work completely from home, in January this become a reality for the Brisbane team as we closed the Hamilton office and started the full time work from home.

In December 2021 Emerge Advisory became part of the Vault group and we’ve gotten to know some amazing new clients.

In January Craig and the team decided that we needed to reflect our business, the name Vault Accountants and Business Advisors was more accurate.

In May we merged with two offices, Moree and Bingara, and welcomed Debbie and Julie to the team. Monica started in the offshore team.

In June we added ATOMate which has changed the way we do business from a reporting perspective. This was a massive change for Vault and something that we have seen the benefits from now.

In July Rowena joined the offshore team. 

In September Chelsea joined the offshore team. 

In October we merged with Anne Hunter’s practice in Grafton, and welcomed Barb, Samantha and Wendy to the team, and Cheryl rejoined us.

In October Craig attended the Gap Conference in Queenstown and single handledly resurrected the resturant industry.

In November we merged with Vision Business Trust and Alan joined the team.

In November we travelled to Manila to catch up with the offshore team.

In December we merged with Jim Bryant and Associated in Brisbane and welcomed Valerie to the team. Cane joined our offshore team. 

Finally we caught up with the local team in Inverell and opened our Inverell office.







Our 2023 Events

In late 2021 we had a name change to better reflect the business, as business advisors we work closely with our clients to ensure that they are getting the most out of their businesses and achieving the three freedoms a business owner should expect; time, financial and mind freedom. To this end we have designed an events calendar to better equip our clients to be able to best run their business and to offer them the tools to get the most out of their businesses.

The team has developed the events calendar which can be found here and there is a guide to what the events are about.

Starting in January we are running events for businesses as well as individuals, these are all complimentary and will be held via Teams. The recordings of the sessions will be made available on the Vault YouTube page.

January Events

Date Topic Description
10-Jan-23 Basics of Xero – click to book This session is for anyone currently using Xero or thinking about it into the future. The session will cover the basics of Xero and how to get the most out of it. This is part of an ongoing education session on Xero.
11-Jan-23 A chat with  Adam  – click to book Financial planning can be a mystery for the uninitiated and during these sessions Adam will cover some of the basic financial planning concepts and how financial planning is critical for your future financial security. This month they will be explaining why most people forget to insure their most valuable asset.
11-Jan-23 Starting a business  – click to book A three part series Craig covers the basics of starting a business and what steps you need to take to make sure your business is a success from the start. Craig will work through some of the issues that you face as you start your business.  These sessions are designed for people looking at their first business or just wanting to know what business is about.
12-Jan-23 Business Planning  – click to book Business planning is critical for all businesses and through this session we will cover thebusiness planning process, what it involves and why it is not a static document, but one that needs to adapt with your business.
13-Jan-23 Cashflow and Profit Improvement  – click to book Cash flow is the most important thing for business owners, it is something that is often poorly managed. This session will over the basic cash flow principles and what you can do to improve your business.
16-Jan-23 Monthly Accountability  – click to book Craig works with a group of like-minded business owners to help you focus on working on your business rather than working in it. Designed for small businesses these sessions will cover goal setting, developing business plans, budgeting and making small steps to make your business better.
17-Jan-23 Know your numbers  – click to book Accounting and financial data can be a mystery, in this session we will cover some of the basic issues in your financial accounts, explain the terms and give you a better understand of what it all means.
18-Jan-23 Starting a business  – click to book A three part series Craig covers the basics of starting a business and what steps you need to take to make sure your business is a success from the start. Craig will work through some of the issues that you face as you start your business.  These sessions are designed for people looking at their first business or just wanting to know what business is about.
18-Jan-23 Ramp up your business with Xero  – click to book By the end of the session if you are not a convert to Xero, we’ll be disappointed. During this session the Vault team will give you an understanding of the architecture of Xero and why it is critical for your business success.
25-Jan-23 Starting a business  – click to book A three part series Craig covers the basics of starting a business and what steps you need to take to make sure your business is a success from the start. Craig will work through some of the issues that you face as you start your business.  These sessions are designed for people looking at their first business or just wanting to know what business is about.
24-Jan-23 Using Xero in your business  – click to book Vault believes every business needs Xero, and through this session she will show him how to use Xero more effectively in your business. Running through some basic reporting and functionality, Our team is going to help you understand why Xero is critical.
31-Jan-23 Understanding Risk Insurance – click to book Adam will discuss the basics of Risk Insurance and why it is so important. This is a thirty minute session and will cover the basic issues you need to know about risk insurance






Our January 2023 Offer – Complimentary Client Review

Why we developed this service.

It’s extremely important to work on your business, not just in it.  Taking time out to discuss what’s happening in your business is essential to give you clarity about your future and vision to enable us to support you in the most appropriate ways.

A Complimentary Client Review is an ideal opportunity to meet us on a complimentary, obligation free basis to discuss any of the following:

  • Your goals for your business and how you plan to achieve them
  • How your business goals tie in with your personal and lifestyle goals
  • Issues and challenges you’re facing in your business, e.g. growth, profitability, cashflow, succession, etc.
  • How you can work with us to address these

Who should have a review?

If you want to improve your business performance and financial results, and minimise any risk in your investments, schedule a Complimentary Client Review.  We’re not just advisors on your rear-facing tax matters – we want to help you achieve your future business goals.

We’ll review and discuss your current situation at no cost.  It’s an opportunity for us to check in with you to ensure that we are giving you all the assistance that you need.  For example, we might be able to help you with some strategies to help you grow and protect your assets or improve your efficiency and effectiveness.

What is involved?

You’ll meet with a senior team member for a 60 minute session, reviewing your current situation and discussing how we can support you to resolve your burning issues.  We will send you a copy of the Meeting Minutes documenting your business and lifestyle goals and all agreed actions.

If required, we will also prepare a proposal for you including upfront prices of our services for any additional support work that we identify during the meeting.

When should I get a review?

We want to stay in touch regularly to ensure your business and personal goals are being met.  We have set aside time for this meeting to happen after your financial statements have been completed.  Of course, you don’t have to wait until then; you can contact us any time to arrange a catch up.

Benefits of a Complimentary Client Review

  • Clearly discuss and document your business and lifestyle goals
  • Gain clarity of the actions you need to take to achieve your goals
  • Stimulate strategic discussion around the current and future direction of your business and investments
  • Identify your burning issues, opportunities and challenges so you can respond effectively
  • Gain a better understanding of your business
  • Access the collective wisdom of our firm
  • Assess the current structure of your business
  • Potentially identify greater tax efficiencies
  • Gain a better understanding of the ways we can support you

Call us now on (07) 3012 6724 or email discuss the preparation of your Complimentary Client Review. For those interested in business planning and what a CCR can do to assist you. We are running an information session on 12 January 2023, click here to join us.

The basics of liquidation

There has been a rapid increase in the number of liquidations and as a creditor it can be a daunting process to understand what is going on. Glenn Shannon from Hall Chadwick explains some of the main concepts.

First Glenn, as a liquidator do you work for the Directors? This is a misnomer and often misunderstood, we step in to act in the best interests of the creditors of the Company and are not there to work for the Directors (although they may be a creditor). We are independent from the Director and do not follow his instructions.

What does a liquidation involve?

The liquidation of an insolvent company allows an independent registered liquidator to take control of the company so its affairs can be wound up in an orderly way for the benefit of creditors.

There are two types of insolvent liquidations, Creditors’ Voluntary Liquidation (“CVL”) or by Court order. A CVL begins when an insolvent company’s shareholders resolve to liquidate the company and appoint a liquidator, or creditors vote for liquidation following a voluntary administration or a terminated deed of company arrangement. In a court winding up the company is most commonly liquidated due to an application from a creditor due to the expiry of a statutory demand for outstanding debts.

For companies with creditors less than $1M simplified rules apply.

Liquidators work for creditors not the director and shareholders. The role of a liquidator is to:

· protect, collect and sell the company’s assets,

· investigate and report to creditors about the company’s affairs, including: unfair preference payments that may be recoverable, any uncommercial transactions that may be set aside, possible claims against the company’s officers (including insolvent trading),creditor-defeating dispositions that may be recovered, including in relation to illegal phoenix activity,

· inquire into the failure of the company – and possible offences by people involved with the company – and report to ASIC,

· distribute money from the sale of assets and other actions after payment of the costs of the liquidation, (subject to the rights of any secured creditor) – first to priority creditors, including employees, and then to unsecured creditors.

What are the responsibilities on Directors?

Directors cannot use their powers after a liquidator has been appointed. They have an obligation to assist the liquidator by:

· advising the liquidator of the location of company property and delivering the property in their possession to the liquidator,

· providing the company’s books and records,

· providing a written report about the company’s business, property, affairs and financial circumstances,

· meeting with, or reporting to, the liquidator to help them with their inquiries, as reasonably required.

Creditor reporting and meetings

You are a creditor if you provided goods or services or loans to the company and have not been paid or are an employee owed wages or other entitlements.

The liquidator will send the following to creditors:

· initial information about creditors’ rights in the liquidation, · a statutory report within three months after their appointment detailing the company’s estimated assets and liabilities, inquiries undertaken and further inquiries that may need to undertake, what happened to the company’s business and possible recovery actions and the likelihood of creditors receiving a dividend.

A liquidator can seek creditors to approve resolutions by a mail vote without holding a creditors meeting. A liquidator may call a creditors’ meeting to inform creditors about the liquidator’s progress, to find out creditors’ wishes on a matter or to approve the liquidator’s fees. At any meeting, creditors can attend in person, by proxy or by telephone.

Where to from here?

We generally work with our clients at risk for early intervention, if you are having financial difficulties the earlier you can start the conversation the easier the process generally can be. To find out more or contact Glenn, the best email For more about Hall Chadwick visit here






It’s not just the rate

Stephen Mitchell of BOQ Mitchelton and Eagle Street.

I often have people I meet ask me “what is your best rate?”.
That is a good question, but it should be not be your first concern.

In my opinion there are so many more important things that you should be asking of your lender, such as:

  • “What is your approval turnaround?”
  • “Will you manage my entire application from beginning to end?”
  • What else can you help me with?”
  • “Will you help me with future loan maintenance?”
  • “Can I call you directly for assistance after my loan has settled?”
  • “What is your branch network?”
  • “Does the lender you are suggesting actually have a branch network”?
  • “Can I get help at any of your branches/offices?”
  • “Can I call my branch directly?”
  • “Can I meet with you outside of business hours?”
  • “Can you come to me, should I need your assistance?”

There are people that are happy to have a “self-service” financial institution that use call centres and web service. Having additional options to sit down face to face with someone to address concerns or requirements can also be quite valuable to others. It is certainly worth considering what a low rate with only call centre service will end up costing you with waiting time and call back promises versus being able to call or email your lender directly to address any concerns or requirements.

People sometimes say that banks no longer provide service. This isn’t true, you just need to seek it out.

This service focused approach to banking is what has attracted me to being part of BOQ’s Owner Managed network.

These family-owned branches pride themselves on being part of the communities that they service. They employ local people who are part of their communities themselves through sporting associations and local community groups. They spend their money locally and in turn support local small and medium sized businesses. Their kids go to local schools and are also involved in local sporting and youth events.

If you are working with a Broker (or if you are going directly to a bank to obtain finance) ask the harder hitting questions…. Will I be getting the right balance of competitive interest rates and a great level of service?

Most people I deal with who are looking to refinance do not perceive that they have this balance right with the bank that they are currently using.

To contact Steve email





Bud’s New Book 

I had the privilege of proofreading Bud’s book and am happy that he will be launching it prior to Christmas, it is a guide to buying a property and what the role of a buyer’s agent or advocate is there to do.

Bud’s book covers the good and bad of buying a property, what happens when the buzz of an offer finishes and reality kicks in. Bud is a natural storyteller and brings life experience to the buying process.

Why did you write it? The last few years have been challenging from a health perspective and one of my goals was to write a book, so here it is.

Who will it help? My best experiences are with people starting out, buying a property is a massive financial decision, a lot of them are not prepared for what the journey involves.

What if I need help? Reach out to me here.

When Should You Contact Us?

If you are looking at investment property for the first time or adding to your existing portfolio, it is always a good time to contact us. If you utilise our support services before, during or after buying an investment property, we have advice and tools that will assist you in growing and managing your properties.

At Streten Property Group, technology allows us to manage properties all over South East Queensland. Properties located 2 hours away get no more or less attention than one on my street. A “good” manager can do their job effectively no matter where they are and now has the technology to thank and back them up.

Contact Bud at

Phone: 0436 486 444





Meet the Team – Monica

Where in the Philippines are you based?  Marikina, Metro Manila

What is the area best known for?  Shoes, floods (haha)

Tell us something about your area that you’re proud of? It’s clean city and disciplined people

Away from work what are your interests or hobbies?  K-drama, k-pop, cooking, baking

What is a perfect weekend for you?  Staycation, outdoor event with the kids

Could you also tell us about your family? I have two kids boy and a girl 5 and 3 years old.

How long have you worked with Vault? 4 months

What area do you work in? Bookkeeping

What’s the most enjoyable part of your job? I get to learn a lot and work with different people, its also work from home so I get more time my family. Coworkers are rockstars.

Learn about our team here



More information? To find out more, give us a call on (07) 3012 6724 or email
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