End of financial year checklist When the new financial year is under way, you should start thinking about getting the financial information for the previous year ready for us to use for preparing your financial returns. If you haven’t already done so, invite us to log into your Cashmanager RURAL online database. We can then […]
Riparian planting and management is the restoration, enhancement and the construction of wetlands, rivers or streams inside a property. As this type of planting is recognised as a method of erosion control and water protection, farmers are permitted a deduction for riparian plantings under the 2007 Income Tax Act 2007, Section DO 2 (2) (c). […]
As I read about the latest leaders’ debate and consider the impact of a possible change in government, I can’t help but feel some empathy for our primary producers. There is some sentiment out there that our primary sector are creaming it and a water tax or capital gains tax is something they can just […]
If you are a farmer (which includes agricultural and horticultural businesses) and claim costs related to your farmhouse such as electricity, phone, insurance and the like, then this change will affect you and you will need to make changes to your accounting system to bring your claim into line with the new tax law for the 2017/18 year.
“I’ve made all this profit – so where’s it gone?!” Does this sound familiar? It’s probably the number one question we are asked and usually comes about when the tax needs to be paid. In simple terms, profit is not what’s left over at the end of the day in your bank. That is cashflow. […]
Water is a finite resource. While it appears to flow endlessly down our rivers, and is pumped perpetually from the ground, there is only so much to go around. Effective management of our water resource is vital to ensure its benefits can be fully captured to optimise the productivity of our land, and ensure New […]
The Livestock module is a tool you can use to drive monthly and annual farm management reviews. It provides you with information about what stock is on hand, and what stock numbers are required on a month-by-month basis. This helps optimise productivity and achieve business goals by working with actuals, budgets and revised views of […]
Camille Flack, Vet Services Hawke’s Bay If you are breeding sheep, your year starts at weaning. A lot of farmers focus on the average price and weight of lamb going out the gate up until autumn. At this stage, the horse has already bolted. By focusing on that target you are already compromising the ability […]
Where farm employees occupy a farm house rent free, the market value of the deemed rental is part of the employee’s remuneration and subject to PAYE. This creates a residential rental situation, with deductibility of the running costs (insurance, repairs, etc) permitted. The rental income is GST exempt and the flip-side is all costs and […]
The forestry sector has been identified as a high-risk industry due to the number of work related accidents and highly publicised fatalities. In fact, during the recent changes in legislation relating to Health and Safety in the Workplace, commentators often cited the forestry sector as one of the key areas where reform was urgently needed. […]
Tax Due DatesMay 16, 2016 - 6:56 pm
COVID-19 Wage Subsidy Scheme and Resurgence Support Payment reinstatedAugust 20, 2021 - 12:03 pm
COVID-19 UpdateAugust 18, 2021 - 2:01 pm
Trusts Act 2019 – What does this mean for me?November 17, 2020 - 4:52 pm