Newsletter
A Challenging Year Behind Us;
Looking Forward – A Merry Christmas to All
11 DECEMBER 2009
We would like to extend our warm wishes for the Christmas season to our clients and colleagues.
For many of our clients it has been a tough year involving some tough decisions. We have worked closely with many of you and I am pleased to say that Kiwi adaptability is alive and well and most of our clients moved quickly and positively to adjust to tougher conditions.
Despite the continued economic uncertainty there are signs of improvement appearing in some sectors. In my view 2010 will require continued vigilance and attention to the fundamentals of your businesses with a particular focus on cash flow.
We have enjoyed the challenges of the last 12 months and we are looking forward to taking a breather over Christmas before getting back into it in the New Year.
In this, our last newsletter for the year, we have entered the Christmas spirit by taking a light-hearted look in “Taxing Matters” at strange taxes imposed down the years; we have rounded off the newsletter and the year by taking a humorous look at Christmas.
Many thanks for your continued business and we hope you get the chance to have a break, relax and spend time with family over the Christmas period and we look forward to seeing you again in the New Year.
Kind regards
Grant Brownlee
Managing Director
Christmas Office Hours
Closed from: 23 December 2009 – 1.00pm,
Reopen: 18 January 2010 – 8.00am
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Next Edition of UHY Haines Norton Newsletter
The next edition of our Newsletter will be published in February 2010.
Future topics will include examining ways to grow and increase your business; the potential tax implications of borrowing funds from a family member, relative or Trust; the benefits of Kiwisaver; ACC; and commentary and analysis of any legislative tax changes as and when they arise.
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Trophy for Farmgate Wines
The 2009 Air New Zealand Wine Awards were recently held in Christchurch. The gala dinner is held each year and is New Zealand’s pre-eminent wine show. The show announces and recognises New Zealand’s best wines and winemakers from the more then 1,500 entries received.
UHY Haines Norton client Farmgate Wines won the award for best dessert wine for its Farmgate Noble Harvest Riesling 2007.
Farmgate winemaker, Peter Gough who has a longstanding interest in making dessert wine described the award winning wine as “…decadent with aromas of apricot, honey and marmalade balanced with a pineappley acid cut”.
Farmgate Wines are distributed by Ngatarawa Wines in Hawkes Bay. Ngatarawa Wines are owned and operated by Alwyn and Brian Corban, congratulations Alwyn, Brian and Peter on your success.
Has your business recently received or been nominated for an award or have you been successful in growing your business? If so let us know, we would love to spread the news about your success.
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TAXING MATTERS
Taxing matters provides a summary of topical tax information relating to individuals and businesses.
Given the time of year we thought for this months Taxing Matters that we would take a light-hearted look at the world of tax.
Unusual Taxes
During its history the world has witnessed some odd taxes here are some of the stranger ones:
Beard Tax
In 1705 Peter the Great, Tsar of Russia introduced a tax on men who grew beards, the aim of the tax was apparently to encourage Russian men to remain clean shaven like their more cultured counterparts in Western Europe.
Window Tax
A Window tax was introduced in England in 1696 as an alternative to income tax which was deeply unpopular (no change there then). The tax was not repealed until 1851, 155 years later, and in fact it is still possible to see the consequences of the tax in England today with bricked-up window frames one of its legacies.
Hat Tax
As if a window tax was not odd enough the British government introduced a hat tax in 1784 which was levied based on the cost of the hat.
Flatulence Tax
Could this be the New Zealand Dairy industry’s contribution to odd taxes.
Nursery Rhyme
Many people are aware that nursery rhymes often have specific meanings based on historical figures or events; for example Ring a Ring a Roses is based on the great plague, did you know though that it is widely recognised that Baa Baa Black Sheep is a nursery rhyme about tax.
Baa Baa Black Sheep
Have you any wool?
Yes sir, yes sir,
Three bags full.
One for the master,
One for the dame
And one for the little boy
Who lives down the lane.
The nursery rhyme describes how in medieval times peasants were required to make payment in sacks of wool (a wool tax) to the King (master) and the Dame (the nobility) retaining the balance for themselves (the little boy).
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UHY HAINES NORTON – SUPPORTING THE COMMUNITY
Waitakere Business Club
UHY Haines Norton Limited Director Tim Livingstone is the President of the Waitakere Business Club who this year have given a generous donation to Waitakere Enterprise for the purchase of Christmas gifts for West Auckland’s dis-advantaged children. Staff from UHY Haines Norton were also involved by volunteering to assist with wrapping the gifts.
Corban Revell Golf Day
UHY Haines Norton entered two teams in this years Corban Revell Golf Day in support of the West Auckland Hospice.
West Auckland Hospice provides free 24 hour, 7 day a week specialist palliative care.
The tournament was played in ideal conditions at the Redwood Park Golf Club. Although UHY Haines Norton did not manage to share in the silverware an enjoyable day was had by all our thanks go to Corban Revell and Puawai Kopu for hosting such an enjoyable and successful day.
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UHY Succession Planning
Like any business succession planning is an important consideration for UHY Haines Norton we would therefore like to congratulate our Audit Senior Bhavin Sanghavi and his wife Annette on the recent birth of their first child. Congratulations Bhavin and Annette, we can all rest a little easier knowing that the next generation of UHY Haines Norton employees are on the way.
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’Tis the Season to be Jolly
This being the festive season it seemed appropriate that the last article in the last newsletter of the year should be about Christmas so here are some facts about Christmas, some Christmas jokes and even a Christmas recipe to help get you in the Christmas spirit.
Christmas Facts
- Red became the popular colour for Santa’s costume after its introduction in the US by Coca-Cola in the 1930s.
- The first Christmas card was sent in 1844 and the first commercial Christmas card was produced in 1846.
- If you received all the gifts in the song “Twelve Days of Christmas”, you would receive 364 presents.
- Electric Christmas lights were first used in 1895.
Christmas Funnies
Q. Why Does Santa have 3 Gardens
A. So he can Ho Ho Ho
Q. What did Adam say on the day before Christmas?
A. It’s Christmas Eve
Q. Which of Santa’s reindeer has bad manners?
A. Rude?-olph
Q. Did Rudolph go to a regular school
A. No, he was elf-taught.
Christmas Recipe –
Christmas Chocolate Mint Sauce
Easy to make and great for desserts with ice cream or as a dipping sauce for strawberries, grapes etc.
1 x pkt Cadbury’s After Dinner Mints
5 x tablespoons cream
3 x teaspoons Crème de Menthe (substitute 1 x tbsp cream if non-alcohol sauce desired).
Melt After Dinner Mints in a bowl over hot/boiling water, when melted, stir until smooth.
Add Crème de Menthe, stir until smooth.
Allow to cool slightly (this will stop the cream from curdling), add cream, stir until smooth.
Can be made up to two days earlier and be kept in a sealed container in the fridge. Allow to warm to room temperature and stir before serving. Sauce should be a bit runny but not so much it will run away!
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PASS ME ON
If you know someone that would find articles contained in this publication to be of interest please feel free to pass a copy on to them.
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UHY Haines Norton (Auckland) Ltd is a member of UHY Haines Norton, an association of independent firms throughout Australia and New Zealand and a member of UHY, an international association of independent accounting and consulting firms. UHY firms operate in over 180 offices based in more than 60 countries around the world.
Disclaimer
The comments in this publication are for general information purposes only. This publication and the information contained within it is not intended to constitute professional advice. If you wish to receive specific professional advice please contact a UHY Director.
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