This blog post is brought to you by: Operating a dairy farming business comes with significant expenditure. Some of the costs of running your business are repairs and maintenance (which forms part of your farm working expenses) and some are capital expenditure. What are the differences, and what does it mean from a tax perspective? […]
Repairs and Maintenance vs Capital Expenditure Read More »
This blog post is brought to you by: Why EPOAs are not just for the over 50s and prevent you and your family from enduring a “nuclear fallout”. Imagine this scenario:Grace is a widow of 79 years. Grace has two adult daughters, Monique and Claudia. Monique lives about a two-hour drive from Grace, and Claudia
Protecting The Future of Your Family Read More »
Blog brought to you by: Determining the breakeven point within your farming business is an excellent key performance measure, known as a KPI. Knowing this helps you adjust and adapt to each season – not only at the start of the season but throughout, as things may change along the way. What does breakeven point
What is my Break Even Point? Read More »
This blog post is brought to you by: The Family Protection Act 1955 “the Act” is a unique part of New Zealand law which provides the Court with a wide discretionary power to make awards to relatives of the deceased who were not adequately provided for under their will. This power enables the Court to
The Family Protection Act 1955: What it is and why you should consider it Read More »
This blog post is brought to you by: Navigating your way around tax debt can be particularly challenging for dairy farmers in New Zealand. With fluctuating milk prices and costs and unpredictable weather conditions, maintaining steady cash flow is often difficult. Accumulating arrears with the Inland Revenue Department (IRD) can add another layer of stress.
HOW TO SURVIVE IRD ARREARS Read More »
THIS BLOG IS BROUGHT TO YOU BY: Being a dairy farmer has its share of challenges, and understanding tax obligations is one of them. It’s important to remember that you’re not alone in this. Many farmers, just like you, might find themselves in a situation where they have no cash in the bank but still
Why Do I Have No Cash but Still Need to Pay Taxes? Read More »
This blog is brought to you by: Restraint of trade refers to any action or agreement that restricts free market competition. These clauses are often included in employment contracts, business agreements, and mergers and acquisitions. These clauses aim to limit competition by restricting individual, entities or related entities from engaging in a similar business or
EFFECTIVENESS OF RESTRAINT OF TRADE CLAUSES AND LAWYERS ROLE Read More »
Blog brought to you by LIM Reports can be expensive, and when buying a property, it can often be
THE IMPORTANCE OF A LIM REPORT WHEN PURCHASING A PROPERTY Read More »
A GUIDE FOR NEW ZEALAND FARMERS BY INTRODUCTION With the recent changes in tax rates, New Zealand farmers face fresh challenges and opportunities. One significant change is the increase in the top individual tax rate to 39% for incomes over $180,000 and the change in the trust tax rate to 39%. This has raised questions
ARE TRUSTS STILL APPROPRIATE UNDER A 39% TAX RATE? Read More »
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