Fonterra’s latest estimate of the dairy payout for the 2015/16 season is $3.85/kg milk solids. This comes off a record $8.40/kg for the 2013/2014 season. It is estimated the average dairy farmer needs $5.60/kg of milk solids to breakeven, so it goes without saying that financial upheaval is coming, but how significant and wide reaching […]
The impact of ‘dairy’ Read More »
The fall in the pay-out has been and gone and now we await the results of dairy trade auctions to see what direction Fonterra take. We need to be looking at the things we can control but at times we all seem to focus on things we can’t control. If you are struggling to meet
The Reserve Bank of New Zealand uses the Official Cash Rate (OCR) to maintain price stability, i.e. to keep inflation between 1% and 3% over the medium term. Given the recent drop in the OCR (from 3.5% to 3.25%) and the potential for future reductions, it is timely to consider the benefits of changing the
What is the cost of your fixed term debt? Read More »
Spring is in the air and the ladies in the office have sprung this photo surprise on me. It’s going back a few years now and also a few hair follicles. The decrease in the milk pay-out has probably made you feel like pulling your hair out too. These months where there have been minimal
Congratulations to Rachel in achieving her Bachelor of Accountancy and to Lillian (below) for obtaining a Diploma in business studies – Accounting technicians diploma. Congratulations to you both.
Summary of IRD rates Use-of-money interest – the rates on underpaid and overpaid tax rose on 8 May 2015. The interest rate charged on underpaid tax went from 8.40% to 9.21%, and the rate for overpaid tax rose from 1.75% to 2.63%. This movement aims to align the rates with the market interest rates and
Each year on average, 75 people die on the job and 1 in 10 people are injured at work. With statistics this high, it’s not surprising the Government is reforming New Zealand’s health and safety landscape. A new Health and Safety Reform Bill (the Bill) is currently before Parliament and is expected to pass later
Health & Safety Reform Read More »
The 2015 budget didn’t really throw up anything too exciting. If you are interested, here is a brief summary courtesy of CCH New Zealand: “No surprises” Budget — well, mostly The big tax headlines were made prior to the budget, with pre-Budget announcements extending the tax rules for residential property sales. Budget 2015 sees some
Concerned about meeting your future tax payments? Speak with Dorothea or Brenda Pittams re: tax arrangements with IRD. You are better off to sort this before the tax is due and reduce the penalties IRD will charge rather than to put your head in the sand and ignore tax. The problem will not go away!
Struggling to Pay your Tax? Read More »
We have recently gone through the end of another financial year, and we now turn our minds to looking forward and where to from here. As part of this process, it is worthwhile looking at your business’s structure and whether it needs a ‘spring clean’. It is surprising how often companies are set up for
