Southey Sayer Latest News

Southey Sayer Wairarapa Korus

We are excited to be back on board with Wairarapa Cricket for the 2017/18 season and to be supporting their women’s teams. The Senior Women’s representative side known as the Southey Sayer Wairarapa Korus was re-established in the 2016/17 season for the first time in over a decade. The team displayed not only great skill and teamwork on the field last season, but a genuine passion for the game, making us a proud sponsor. We would like to wish the girls all the best for their upcoming season!

See below for this seasons fixtures.

Mike Shrimpton Trophy
Nov. 12 –  Wairarapa      v    Wanganui     in Masterton
Nov. 19 –  Manawatu      v    Wairarapa     in Palmerston North
Dec. 10 – Wairarapa      v    Taranaki        in Wanganui
Jan. 21 –  Hawke’s Bay  v    Wairarapa     in Napier

SOSA is supporting Loud Shirt Day

This year the team at Southey Sayer have decided to get behind a good cause by taking part in Loud Shirt Day 2017 on Friday 29th September.
Loud Shirt Day is the annual appeal of The Hearing House and the Southern Cochlear Implant Paediatric Programme, two charities dedicated to enabling deaf children with cochlear implant or hearing aids to listen and speak like their hearing peers. Neither charity charges deaf children or their families for their services.
This year’s theme for Loud Shirt Day 2017 is “At the Beach”, so expect to see some questionable fashion choices floating about the Southey Sayer office if your popping in on Friday.
In an effort to raise funds we have a donation box at reception for the rest of the week. Feel free to pop in and give a donation to give the gift of sound and speech to deaf children.
For further information about Loud Shirt Day please visit their website - http://www.loudshirtdaynz.org/

Invoices and statements are being emailed

At Southey Sayer we care about the environment and are constantly looking for ways to reduce our paper usage, which is why we have made the decision to email out all future invoices and statements.

If you have recently updated your email address please let us know as soon as possible so we are sending these to the correct place. Alternatively if you would prefer to continue having your invoices and statements mailed out to your postal address please let us know otherwise you can expect to receive these by email from now on.

Thank you for your understanding and support with this.

Changes to the deductibility of expenses relating to a farmhouse that is part of a farming business.

Changes to the deductibility of expenses relating to a farmhouse that is part of a farming business.

Before the 2018 income year:

The concession allowed a flat 25% deduction for farmhouse expenses without any evidence. It also allowed a 100% deduction for interest and rates.

The 2018 income year onward:

The previous interpretation/position has been withdrawn.  This change in policy will apply from the start of 2017-18 financial year.

The new policy distinguishes between two types of farmers, referred to as type 1 and type 2.

Type 1 Farmers

A type 1 farmer includes sole traders and partnerships operating a farm where the value of the farmhouse is 20% or less than the total value of the farm.

It is important to note that if farmers fail the type 1 test based on cost, they can apply for a market valuation to ensure they pass the test. This would be relevant, for example, when a farm has been owned for a significant period of time, but a new farm house has been recently built.

Type 1 farmers are able to claim an automatic 20% deduction for farmhouse expenses (without evidence) and a 100% deduction for interest and rates.

For claims in excess of this, supporting evidence will be required.

Type 2 Farmers

A type 2 farmer includes farming operators where the farmhouse value is more than 20% of the value of the farm.

This could be the likes of kiwifruit farms, orchardists and the bloodstock industry where the farming activity is full-time but the cost of the farmhouse relative to the total farm is significant.

The IRD will not accept a minimum percentage deduction for type 2 farmers.

These farmers may only claim deductions for interest, rates and expenses relating to the actual use of the farmhouse.

Type 2 farmers will need to undertake a “home office” type calculation based on the actual use (time and space) of the farmhouse to determine the percentage of expenses that may be claimed for business purposes.

Those who fall into the type 2 category could find the new interpretation has a reasonable impact on their business.

This means it is important farmers are prepared for potential changes to their deducibility, including that they may need evidentiary proof to support higher farmhouse deductions. If you have any questions please contact us.

Dairy Business of the Year - ENTER NOW

Dairy Business of the Year would like to ask you these

three very important questions:

 

1.    Do you have a thorough understanding of how your farm business is currently performing financially?

 

2.    How does your business performance compare against your peers?

 

3.    Do you have sound business practices and strategies in place to cope with the fluctuations in payouts?

 

If you answered ‘NO’, or ‘I’M UNSURE’ to any of these questions, then Dairy Business of the Year would like to take this opportunity to invite you to enter Dairy Business of the Year 2017.

 

Being involved in Dairy Business of the Year (DBOY) provides a unique opportunity to obtain an independent and comprehensive farm analysis of your dairy business which reports on financial performance, human resources and productivity, and environmental management, and benchmarks these against other dairy farmers within your region.

Dairy Business of the Year (DBOY) celebrates its 10-year anniversary this year and since its inception the dairy industry has experienced significant challenges and changes to the industry. The recent volatility of the milk payout, the relatively high debt loading within the dairy industry, changes in the Health and Safety Act, and increasing requirements for implementing environmental good practice are all areas which have needed, and will require on an ongoing basis, changes in farm management practices. This ‘triple bottom line’ principal – profit, people, and the environment, has been and will remain a strong focus of DBOY.

Thanks to the generosity of our sponsors the standard entry fee for DBOY is ONLY $195 + GST provided you have a Level 2 DairyBase Physical and Financial analysis.  This minimum investment in your business can provide maximum benefit, by enabling you to understand how your dairy enterprise performs in key areas, and allows you access to information that will assist in meeting the challenges of payout fluctuations, climate extremes and impending environmental regulations. 

DBOY offers multiple awards and prizes, an exciting Awards night to be held on the 22nd June 2017, as well as access to an exclusive Leader Optimisation Day for finalists.

To enter DBOY simply click HERE to obtain an entry form.  Our support team is available during office hours to help with any queries you may have.  Alternatively, we can email you an entry form, please click HERE to have this emailed to you.

 

Entries close 31 March 2017

Contact DBOY on 0800 73 55 88

www.dboy.co.nz/ team@dboy.co.nz

 

 

 

         

 

 

 

 

 

 

 

 

 

 

 

 

 

Office closure over Christmas

We would like to thank you all for your continued support throughout 2016. It has been a busy year for us with the welcoming of Rural CA clients and new staff.

We wish you a safe and merry festive season with plenty of relaxation thrown in for good measure.

Please note our office will close at 2pm on 22nd December and will re-open in the New Year at 8am on the 9th January.

Leanne, Becks
& the Team

Fraud Awareness Week 2016

Fraud Awareness Week 2016

 

No one is immune to being targeted by scammers. People from all walks of life, backgrounds and ages are vulnerable, and everyone must be constantly alert for fraudulent contact.

With this week (13-19 November) being Fraud Awareness Week, we want to remind people in the Wairarapa of the dangers of scams and the need to be vigilant. We all receive junk emails, enticing online advertisements, letters offering a private purchase of shares for a low price, phone calls from people purporting to be people who they are not, and so on.

Our firm is focussing on telling its clients about the need to be careful about business and financial scams. These are the scams that encourage the private purchase of shares and/or property, participation in an investment scheme or a manged fund, investing in a particular business proposal or paying fraudulent invoices. These proposals and communications tend to look very credible and, on the surface, perfectly viable. But of course they’re all designed to steal your money. Tax scams are also prevalent where you’re contacted by someone, either online or on the phone, by someone saying they’re from the Inland Revenue or a tax specialist. The IRD will not contact you in this way, nor will any genuine tax specialist.

As business advisors, we’re also available to help ascertain whether a business proposal is worth considering. The usual advice is, however, if the offer or return seems too good to be true, it probably is!

 

Keeping yourself safe

It’s important to keep yourself safe from scams online. These include:

  • Always keep your anti-virus software and your operating systems up-to-date
  • Ensure your passwords are a mixture of letters (upper and lower case), numerals and symbols, and we don’t mean a password such as ‘Abc123!’
  • Don’t share passwords with anyone, including typing your password into an email
  • If you receive an email from someone you don’t know or a business that sounds odd, delete it immediately
  • Don’t click on links or open any files sent to you if you don’t know the sender, and
  • Use your common sense; if an offer or deal seems to be too good to be true, it usually is.

 

Think you’ve been scammed?

If you suspect you’ve been scammed, act immediately:

  • Stop all contact with the person or organisation
  • Block the email address
  • Notify your bank or credit card supplier if money has changed hands, and
  • Report the suspected scam to Netsafe, email queries@netsafe.org.nz or call 0508 638 723. You’ll be directed to the appropriate organisation that deals with your specific situation.

Wairarapa Cricket

We are really excited to be involved with Wairarapa Cricket and to be supporting their women's teams, click here to find out more about our involvement!

Latest IRD Scam Alert

We have had reports from a number of clients of people calling them and claiming to be from the IRD and telling them that they are being investigated for tax fraud. The caller requests personal information including the person's IRD number, before threatening them with legal action.

These people work on fear and intimidation, in some cases people are told they must pay a debt urgently or face jail.  

The most common methods used by fraudsters to collect someone's personal information are email and phone scams. These include phoning and claiming to be from Inland Revenue, or sending an email that appears to come from Inland Revenue or a tax refund agency.

Some people have also reported scammers leaving voicemails stating the recipient is subject to criminal action for tax fraud, leaving a phone number for the person to return the call.

If you receive a suspicious email, SMS scam message or a fraudulent call please contact us if you have any questions about your tax position and email phishing@ird.govt.nz and include:

  • the email received, or
  • the number that the text message or phone number (CallerID) originated from
  • any names and call-back numbers given by the text sender or phone caller
  • details about the scam including:
    • the amount of tax refund quoted
    • the reference number
    • the information requested, and
    • any other relevant information.

We’re expanding with the purchase of RURAL CA

We are pleased to announce the expansion of our business with the acquisition of the Masterton-based rural accountancy firm RURAL CA

RURAL CA principal, Lawrence Field, has decided to set up a consultancy, moving away from traditional accountancy and compliance work to focus on his new business.

The change-over date will be 2 May 2016. It will be business as usual in our expanded business, with no changes in the terms of service or fees.

Our staff numbers will grow as we seek three new people to join our existing team of 11.

We look forward to welcoming RURAL CA clients and working with Lawrence to ensure a smooth transition for them.  We also look forward to establishing a longer-term relationship with Lawrence’s new consultancy.

We will be working closely with Lawrence, not only to ensure a smooth transition for RURAL CA clients in the short-term, but also in areas where his expertise and experience can add value to our clients in the future.

 

Leanne Southey & Becks Sayer, Directors