Hip Hop Happy Christmas, from Findlay and Co

Bubbles check, presents, check!

Consider what must be done before you pop the Christmas bubbles - it might save you a hangover and boost New Year celebrations!

1.       If your business experiences a seasonal influx, make sure to plan the necessary marketing and increased staff measures.  When will your staff be taking their holidays?

2.       Follow up outstanding debtors: people (and businesses) are more cash strapped in the New Year so politely encourage payment prior to Christmas - it will help your cash flow, which may be light if you shut down over Christmas and New Year.

3.       Are you sending emails, Christmas cards, or corporate gifts to top clients?  What about presents or bonuses for your staff?  Consider the rules around claiming entertainment expenses.

4.       Have lots of business cards and other marketing collateral on hand - unexpected networking can occur anywhere you’re on holiday.  Magnetic car signs attract welcome custom also.

5.       Have you correctly calculated, set up and approved holiday pay for payroll to occur while you’re on holiday?

6.       Need guidance or support from us, your lawyer or other business advisor?  Engage them well before Christmas - most offices shut down for a minimum of two weeks.

7.       Have you performed a year-end computer detox, updated your virus software and backed up your server offsite?

8.       If your business is shutting down, make sure your voicemail message and website mention closing date info and emergency contact details.  Also, who will be responding to work related emails?

Timely reminders

§    Provisional tax payment due Jan 15 for March, July or November balance dates, or Jan 28 if you have a December balance date

§    Your GST return and payment may also be due Jan 15

§    Interim student loan payments due Jan 15

§    Quarterly FBT return and payment due Jan 28

Oh yeah Race the Train...!!

A summery summary!!

We hope this finds you well and preparing to wave goodbye to 2012!

Twenty twelve in all her glory was a leap year in which NZ got more Talent and we crowned our second ‘Hottest Home Baker’. We beat the Aussi’s in the medal table at the Summer Olympics, but they claimed them as theirs anyway. They tried to nick award-winning singer Kimbra, so we stole their TV show The Block!

Kim Dot Com got as much coverage as Gangnam Style. Barack was reelected US President whilst the East Coast of America recovered from the enormous hurricane ‘Frankenstorm Sandy’. Felix the Austrian skydiver broke the sound barrier (with his body) with a 39km skydive from space. Etta James died and The Hobbit was born.

There was much ado about sugar being bad for us but we were consoled by the launch of the ipad Mini. Facebook bought Instagram for $1 billion and Kate Middleton got pregnant in the year of the Queens Jubilee.

Ironically the ‘end of the world’ Myan prediction shares the month of December with the Kyoto protocol’s conclusion date, a policy designed to save the world?

This was the year that was….roll on 2013.

**Thanks Lake Wanaka Tourism for the photo...pretty!

December wind-down checklist

Consider what must be done before you pop the Christmas bubbles - it might save you a hangover and boost New Year celebrations!

1.       If your business experiences a seasonal influx, make sure to plan the necessary marketing and increased staff measures.  When will your staff be taking their holidays?

2.       Follow up outstanding debtors: people (and businesses) are more cash strapped in the New Year so politely encourage payment prior to Christmas - it will help your cash flow, which may be light if you shut down over Christmas and New Year.

3.       Are you sending emails, Christmas cards, or corporate gifts to top clients?  What about presents or bonuses for your staff?  Consider the rules around claiming entertainment expenses.

4.       Have lots of business cards and other marketing collateral on hand - unexpected networking can occur anywhere you’re on holiday.  Magnetic car signs attract welcome custom also.

5.       Have you correctly calculated, set up and approved holiday pay for payroll to occur while you’re on holiday?

6.       Need guidance or support from us, your lawyer or other business advisor?  Engage them well before Christmas - most offices shut down for a minimum of two weeks.

7.       Have you performed a year end computer detox, updated your virus software and backed up your server offsite?

8.       If your business is shutting down, make sure your voicemail message and website mention closing date info and emergency contact details.  Also, who will be responding to work related emails?

Love our town!

Celebrating our town Wanaka styles with wine, swimming, food, music, sunshine, family and fun.

Xero and Unleashed in action

Black Peak Gelato, with Cherries on top!

One of our favourite local businesses is taking up a Findlay and Co flavour suggestion of Central Otago Cherries and Pinot Noir. We have offered to be testers and tasters!!

You guys are legend, keep up the good work and heres to summer icecream and good times.

Accountants Big Day Out!

Look at us, diligently working hard at the CCH Business Fitness NZ, Accountants Big Day Out last week.

We were lucky enough to see presentations by technology companies BankLink, MYOB, Xero and CCH Collaborative Solutions, and service providers Triplejump, Smart Payroll, Get Smart Financial Solutions, Rodgers Reidy, Accountancy Insurance and nsaTax.

We heard from CEO Russell Evans and BankLink's Richard Reese. The first session was Viv Brownrigg talking of Momentum, followed by Nat with a preview of the latest GBU results.

Simon Mundell spoke us about how technology is shaping NZ businesses, then our Product Manager Sara Hansen revealed what's on the schedule for Business Fitness in 2013.

Human Rhythms got everyone drumming after lunch, and then Robyn Pearce gave a few time management tips before Viv Brownrigg invited a panel of guests to talk about growth and service plans.

Last of all came business impresario Bruce Cotterill on profit performance, and MC Dave Steele wrapped up with an unexpected visit from comedian Dave Fane.

A really fun day where we learnt a lot and enjoyed meeting and chatting with all the other accountants. Roll on BDO 2013!

Real Stories - Street Accountants

OCR Unchanged...for now...

New Reserve Bank governor Graeme Wheeler is leaving official interest rates unchanged at 2.5 per cent "for now".

Bank economists expect the central bank to keep rates on hold until late next year.

ASB Bank is expecting the first move up in September 2013, followed by another step up in December. The Reserve Bank would then likely leave rates at 3 per cent for six months to assess the impact, before moving rates up again, ASB said this morning.

But the hurdle to a cut remains high because the $20 billion Canterbury rebuild is just around the corner, and there has been a lift in the housing market, especially in Auckland and Canterbury.

Wheeler backed his decision earlier today by saying that while the global picture was still fragile, the mood was improving.

ASB said that suggested the Reserve Bank was more comfortable that the "calamitous risks are diminishing, albeit slowly".

Wheeler said the New Zealand economy was improving modestly and the housing market was rising, while the Canterbury rebuild was gaining steam. On the other hand, the high New Zealand dollar was hurting exports, and government belt-tightening was keeping domestic demand in check.

Wheeler said: "For now it remains appropriate for the OCR to be held at 2.5 per cent.''

The New Zealand dollar jumped from about US81.5c before the announcement, to just above US82c by mid-morning. (10am)

"The global economy remains fragile, with further recovery heavily dependent on policy implementation. That said, market sentiment has improved from earlier in the year, suggesting the risks to the global outlook are more balanced.

"Domestically, GDP continues to expand at a modest pace. Housing market activity is increasing as expected, and repairs and reconstruction in Canterbury are boosting the construction sector. Offsetting this, fiscal consolidation is constraining demand growth, and the high New Zealand dollar is undermining export earnings and encouraging substitution toward imported goods and services.

"While annual CPI inflation has fallen to 0.8 per cent, the Bank continues to expect inflation to head back towards the middle of the target range. We will continue to monitor inflation indicators, such as pricing intention and inflation expectation data, closely over coming months."

ASB said the reference to pricing and inflation intentions, which are both subdued, suggested the Reserve Bank may be more concerned about weaker than expected inflation. Inflation has been low mainly because of the high New Zealand dollar keeping a lid on import prices.The wariness about inflation remaining low might indicate that the Reserve Bank could react. ASB bumped up the chances of a rate cut in the next 12 months from 20 per cent to 30 per cent.

It was Wheeler's first monetary policy announcement since he took over from former governor Alan Bollard last month.

The Official Cash Rate has been held at 2.5 per cent since March last year.

Most bank economists expected interest rates to be held today, though there has been a growing minority encouraging a rate cut as the economic recovery fails to ignite.

Inflation is below the bottom of the Reserve Bank's target band of 1 per cent to 3 per cent, the growth outlook for the second half of the year looks weak and unemployment remained stubbornly high, at 6.8 per cent.

Also favouring a cut in rates is the overvalued New Zealand dollar, though economists doubt a rate cut would have a lasting impact on pushing the currency down.

ANZ Bank economists said this morning before the announcement: ''When uncertainty is high, central banks are generally reluctant to move policy interest rates, particularly when this is further away from neutral settings.''

Financial markets had been pricing in a rate cut by March next year on the basis of low inflation, weak domestic figures including manufacturing, services and overall job ads, as well as the high currency and uncertain global outlook.

Overnight there were more positive signs internationally, with new home sales in the United States up to their highest levels in two years. The slowdown in China's factory output is also easing according to survey figures out yesterday.

Published at stuff.co.nz James Weir 25/10/12

The Budget Business

Published in Idealog Magazine May 24, 2012 @ 3:04 pm

Health, education, and science and innovation are the biggest winners in a thrifty budget, which has narrowed the $12.1 billion operating deficit forecast in February's policy statement to a projected $8.4 billion.

Aided by careful spending, that forecast deficit drops to $7.9 billion in 2012/13 and $2 billion in 2013/14, and crossing into a surplus of $197 million in 2014/15.

Finance minister Bill English's 'zero budget' includes a total of $26.5 million in total net new spending over the next four years.

He has scrounged up $3 billion of savings in lower-priority spending and raised almost $1.4 billion in new revenue by increasing tobacco excise tax, greater targeting of tax avoidance, closing tax loopholes, and ending old tax credits.

Prime minister John Key has stuck by the assertion the government was on track to post a small surplus. Asked at a press conference earlier this week about how he thought a second consecutive zero budget would be remembered, he responded that he felt it would be remembered as sensible and considered.

English says the Christchurch rebuild will be a key driver of economic growth.

But the Treasury has trimmed its economic growth projection, with GDP forecast to rise to 1.6 percent in the 2012, 2.6 percent in 2013 and 3.4 percent in 2014, down from 1.9 percent, 2.8 percent, and 3.8 percent forecasts respectively in February’s outlook.

That's based on slower growth in Asia and Australia, which would affect exports and trade.

(Check out Keith Ng's excellent Budget infographic here.)

Budget initiatives (for four years to 2015/16) include: 

·         Increases science and innovation funding across government to more than $1.3 billion a year by 2015/16.

 ·         Establishing the Future Investment Fund to invest the $5 billion to $7 billion of proceeds of the government’s partial share sales of four SOEs and Air New Zealand into modern infrastructure. This includes $558.8 million in Budget 2012.

·         $33.8 million to fit out schools for ultra-fast broadband

·         $88.1 million for the health sector, most of which will go towards hospital redevelopments.

·         $250 million for the third year of KiwiRail’s Turnaround Plan.

·         Almost $1.5 billion of extra funding for health, pushing total health spending to $14.1 billion in 2012/13.

·        $511.9 million of operating funding for new initiatives in education, pushing total funding for early childhood education and schooling to $9.6 billion in 2012/13.

·       $59 million extra to boost funding for science and engineering tertiary courses, $37.7 million more for an additional 3,000 Youth Guarantee places to further improve the transition for young New Zealanders from school into work or training, and $29.5 million operating spending for Private Training Establishments (PTEs)

 ·       $287.5 million up-front investment in the first phase of the government’s welfare reforms to support more long-term beneficiaries into work. This includes:
$80 million for early childhood education childcare and the Guaranteed Childcare Assistance Payment.
$55.1 million for 155 dedicated Work and Income staff to support job seekers and sole parents into work.
$1 million for financial assistance to access long-acting reversible contraception.
$148.8 million for youth services including wrap-around support.

 ·         $65 million in operating spending for new and expanded rehabilitation and reintegration programmes

·         A new Justice Sector Fund of $87 million

·        $104 million more for the Social Housing Fund

·        $11 million towards insulation for 41,000 more homes

·        $114.9 million extra funding for the Canterbury Earthquake Recovery Authority (CERA) to oversee the reconstruction of Christchurch.

·        $13 million in Social Development funding for NGO-led initiatives to support Cantabrians and assist with the recovery.

·        $800,000 for Land Information New Zealand to continue re-surveying the Canterbury region.

 

Getting Export Ready

Exporting can be a great way to fast-track your business growth because it gives you access to lots of potential new customers. Exporting has lots of moving parts, though, so before you start exporting you need to consider a few things:

Do your homework

You need to pick a market that you can win. It needs to be large enough to support your product, have enough demand to validate your product and people need to have money to spend on your product. As a business owner, some logical markets will immediately spring to mind. Cut the list to 2-3 and then focus your research on these markets. Compare markets based on the research and make your decision. It also pays to look at the markets where other local businesses are exporting because the channels you need will already be in place.

Spend some time in your new market

You need to be there. It really makes all the difference.  This could be a series of trips or you can move there for a few months.  Working hard, understanding the market and meeting potential customers will give you an invaluable firsthand understanding of what you need to succeed. Once you put a country manager in place, your experience in the market will give you better understanding of how to manage and support this person.

Create milestones and commit to achieving them

Confirm your key milestones and goals for your new export market.  What does short term (6 months) success look like? Set aside the funds and go for it. Make sure you know what you’re getting yourself into, too. Hiring your first person, growing the team and building the business is going to take time, effort and cash.

Anticipate scale

Exporting into new bigger market can bring a scale you may not have experienced before. Since it takes time and money to establish an office, market your product and build up some momentum, your costs are going to rise before your revenues do. Before you start exporting, you need to establish what those costs are going to be and raise enough money to cover them before the money starts coming in. If you’re massively successful, you’re going to incur massive costs, so think forward to make sure you can get ahead of them.

Look after your domestic market

When you’re setting up an export market, you’re going to be busy and distracted. Make sure you don’t neglect your domestic market; consider hiring someone to keep an eye on it while you’re getting ready to export.

Know when to walk away

If you do not hit most of your milestones in your first six months and have spent all the funds you have put aside, don’t just keep plowing on. Be clinical about it. It’s a business decision. You can always scale back, reset, then invest again at a later time.

Exporting is great for business growth. It’s exciting but it does have some challenges. Everything is new. With determination, good planning and well thought through governance you’ll improve your chances of success.

Published on the Xero Blog  Published in Business on 29 May 2012 by Hamish Edwards

Lake Wanaka Tourism reports positive TRENZ feedback

Lake Wanaka Tourism is reporting strong positive feedback from the influential travel trade buyers and media who visited the region during TRENZ, which was recently held in Queenstown.

James Helmore, Lake Wanaka Tourism general manager said hosting TRENZ in the Southern Lakes region had significantly increased awareness of Lake Wanaka as a destination. This was compounded by the opportunity to host over 80 international representatives before and after TRENZ, allowing them to enjoy the Wanaka experience first hand.

“In an increasingly impersonal world, visitors are seeking a more genuine experience and the feedback from the buyers strongly shows that Wanaka is delivering this,” said Helmore. “People are increasingly after an authentic, real, pure experience, which is what Wanaka is all about. So in today's environment visitors want open places, tranquility, something very raw and simple. People are looking for clarity and something bonded to community. Something with meaning. Caryn Young, product manager from wholesale travel company, Adventure World, reported that, “It was a great opportunity to experience the amazing product Wanaka has to offer first hand. What really blew me away was the people - the owner operators. They are truly genuine passionate people. I came away from TRENZ bursting with ideas on how we can shape our itineraries to include more Wanaka.”

The important role the region’s operators play was also highlighted by James Helmore who said the success of Lake Wanaka’s results from TRENZ was largely due to the support of the region’s operators who freely gave their time and resources to host the buyers and media.

Mark Orbell of Wanaka’s Ridgeline Adventures said participating in TRENZ was a very valuable exercise. “It was wonderful to see the international travel agents that visited Lake Wanaka embrace the passion of the people here and really understand the value of the experiences available for their clients – a combination of the people, passion and landscape,” he said. “This is Wanaka’s point of difference over other destinations and something which we are fiercely proud of. From an owner-operator’s perspective, TRENZ was an extremely valuable exercise. Whilst it was relatively expensive to attend TRENZ for a small business, the return on investment is huge. It would cost 10 times the conference fee to travel across the world to meet the variety and number of international travel agents who attended TRENZ.”

Helmore went on to say that Lake Wanaka’s growing profile in the international marketplace was well illustrated by the number of industry accolades the resort town has recently received.

Earlier this year National Geographic voted Lake Wanaka as one of the top 25 ski towns in the world, the only New Zealand destination to be included in this prestigious list. In addition, Outside Magazine voted Lake Wanaka the “world’s best new adventure hub” while Lonely Planet rated Lake Wanaka, along with the Southern Lakes region, as one of the world’s top 10 places to visit in 2012.

For further information, visit www.lakewanaka.co.nz.

Tuesday, 29 May 2012, 11:15 am Press Release: Lake Wanaka Tourism

Found Fiddy!

BAGS OF MONEY: Painters Jaime Stephens and Tane Stevenson came across the coins while driving on Rossall St, in Merivale.

Two Christchurch painters were shocked to find almost $60,000 worth of coins lying on the road this morning.

Jaime Stephens and Tane Stevenson came across the coins while driving on Rossall St, in Merivale, about 10.30am.

"My worker said to me, stop go back, there's money on the road," Stephens said.

From a distance the money bags and broken pallet "looked like rubbish", but there was no mistaking what they had found when they got close, she said.

"It was like 'oh my god, there's all this money'."

A packing slip found nearby revealed the total amount on the pallet had been $58,088.

It was believed the pellet may have come from vending machines in Invercargill.

Stephens said they had not been tempted to take any of the money, and quickly reported their discovery to police.

"The thought's always there, but you'd never actually do it. They were really, really happy we were good Samaritans."

"Two little painters finding sixty grand on the ground isn't too bad," she said.

Published on Stuff.co.nz NICOLE MATHEWSON 31/5/2012

NZ Mountain Film Festival is Coming Up!

The 2012 New Zealand Mountain Film Festival is a combination of events over the six days July 6th to 11th in NZ’s premier alpine village of Wanaka (to learn about Wanaka click here) and also Queenstown on July 8th.

Activities scheduled include

• International and NZ made adventure film competition (US$1000 and NZ$1000 first prizes)
• Viewing of the film finalist
• NEW for 2012, Replay Evening; of the best films in the past 10 years
• Awards night with films, winning film previews and live Music
• NZ & International Guest speakers
• Workshops
• Adventure gear trade show
• Art exhibition
• The Dyno Competition
• Film Editing Competition (US$500 first prize)
• Heaps of giveaways
• And of course, lots of general socialising

Dog Groomers Run Into Trademark Hassles

Nelson business owners Todd Padgett and Shirley McEwan are kicking themselves for not checking the trademark register when setting up their dog grooming business four years ago.

They moved to Nelson from the United States in 2008 and set up a pet grooming business called Precious Paws.

They hired an accountant to help set up the business, but Mr Padgett said the accountant must not have checked the name on the trademark register.

"We were new here and we didn't know all the processes. I could have done all the work, but I trusted a professional to do it," he said.

The pair decided to expand their business this year and Mr Padgett set up a business website, which is when things started to unravel.

Mr Padgett said they got a "fairly stiff" email from a Tauranga pet care company called Absolutely Precious Paws, telling them to change their name.

That company opened in 2002, operating under the trademarked name Precious Paws and the owners changed its name to Absolutely Precious Paws in 2007.

Mr Padgett said: `She gave up the company name [in 2007], but she had trademarked the words in it."

Mr Padgett and Ms McEwan decided a trademark dispute was not worth the cost or hassle, so they were in the process of changing their business' name to Paws R Precious.

Mr Padgett said they had not run the new name past the owners of the Tauranga business, but the Intellection Property Office has said it was OK.

"It is annoying to have to go through and change everything around. We're in a different kind of business, we're in a different island and we have been using it for four years," he said.

"It's a nuisance more than anything else and I feel pretty stupid, because I could have checked it."

The couple's story echoes The House of Brown Sugar trademark saga, where the owner of the Wakatu Square cafe was forced to change its name by the owners of a Taihape cafe.

Kara Healey gave in to legal pressures put on her by the owners of The Brown Sugar Cafe, who registered "brown sugar" as a trademark more than 18 years ago. Her Nelson cafe is now called The Strawberry Bakehouse.

Fairfax News published 5/5/2012 Anna Pearson

Having a baby?

Sorted website has provided this check list which offers some great things to consider when expecting...


Having a baby is an exciting time so you don’t want money worries spoiling things. But the new arrival is likely to mean some big changes to your family finances. With a bit of planning you can keep your finances under control and enjoy all the great things about parenting.

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  Budget for reduced income

  If you’re a working mother, having a baby will mean time off work and less income for your family. So you will need to plan for living on a reduced budget. Start by taking a good look at your household’s current income and expenses. Make your current budget using our money planner.
  Then adjust it to see what life will be like after baby comes. For example, see the impact of going down to a single income.
  Save your changes as a new baby budget in My Sorted.
  See if your current budget allows you to set some savings aside each pay. It’s good to have some money saved up to cover all the things you will need to care for your baby.
  If you have any high-interest debt like credit cards or hire purchase, try to pay that off first. Getting rid of dumb debt will give you one less thing to worry about.
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  Paid Parental Leave

  Paid Parental Leave is a government-funded payment that helps cover working mothers’ loss of income when they take parental leave to care for a newborn baby or an adopted child under six. Mothers may also be able to transfer all or part of their entitlement to their partner. You can claim paid parental peave for up to 14 weeks. See if you’re eligible for paid parental leave and find out how much you could get on the Department of Labour website.
  If you are a KiwiSaver member – find out what happens to your Kiwisaver contributionsand your employers on the Inland Revenue’s KiwiSaver website.
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  Other government help

  If you’re not eligible for paid parental leave, you may be able to get the parental tax credit. This is paid for the first 8 weeks. Find out more about the parental tax credit on the Inland Revenue website.
  Inland Revenue also have a helpful booklet that explains the differences between the two types of payments. Working for Families is a government programme aimed at helping low and middle income families cope with the costs of raising children. It offers tax credits, accommodation and childcare assistance. Find out more on the Working for Families website.
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  Budget for baby expenses

  As an expectant parent you may be tempted to spend lots of money on baby gear. But before you hit the shops, talk to experienced parents about what you really need.
  You can save a lot by buying secondhand goods online and getting nappies in bulk, or using cloth nappies. Better still – let your friends and family know what’s on your still-to-get list. Most will welcome the opportunity to clear out their unused baby gear or offer to help you with a gift you really need.
  Plunket offers a car seat rental service, toy libraries and other services aimed at making your job as a parent easier and more affordable. They also have an online baby budget calculator that can help you work out the costs of your baby’s first year.
  Or you can use our event planner to make your own list of items and add up the costs.
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  Childcare and home help

  Childcare will be one of your biggest expenses if you or your partner returns to work. This is when supportive family members are worth their weight in gold! Costs and conditions vary widely among childcare centres. Shop around for one that will suit your family.
  Work and Income’s childcare subsidy helps cover the cost of childcare for children under five.
  If you’ve had a multiple birth or have a domestic emergency you may be able to get help with the cost of things like laundry, housework and cooking as well as childcare. Find out more about financial assistance when you're having a baby on the Work and Income website.
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  Protecting your new family

  You may not have seen a need for life insurance before but now is the time to consider it. If you or your partner died, how would your family cope financially?
  If you already have life insurance, it’s a good idea to check your policy before your baby is born. You may need to increase it.
  Other types of insurance may also be worth considering, such as income protection for the working parent. However this can be expensive so check your budget first.
  If you haven’t already, now is the time to make a will or update your existing one. It’s never nice to think about, but it is important to nominate a legal guardian for your child in case you and your partner die. If you have a more complex personal or financial situation – for example you own your own business or are recently separated, you may need to consider other types of asset protection such as a family trust. Start your budget planning now, don’t leave it until the last minute.
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  Returning to work

  The Department of Labour website has information about your options when you return to the workforce after parental leave - including your right to request flexible working hours.
  Parents Centres New Zealand also runs a return to work programme for parents considering re-entering the paid workforce.
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  Where to go for help

  • Work and Income: Financial assistance when you're having a baby
  • Department of Labour: Paid parental leave
  • Inland Revenue: Parental tax credit
  • Plunket: Baby budget calculator and car seat rental service
  • Department of Labour: Returning to the workforce and flexible working hours
  • Parents Centres: Return to work programme
  • Work and Income: Childcare subsidy