NEWSLETTER 07.12.15

Commerce
If you get an e-mail from IRD, don’t reply but send it on to your accountant. That’s the word from Kerry Adams from DAA. He says there is a raft of scams based on IRD branding that people are falling foul of. He says send anything from IRD to your accountant who will then send it on to IRD who want to close the scams down. Kerry says that as fast as IRD close one down, another pops up. He says if the e-mail is genuine, your accountant will be able to tell and therefore action it. 

Check the rules about the Christmas holiday pays especially as the Boxing day holiday will be “Mondayised” this year. Kerry Adams says a temptation to roster off workers who would normally work on a Saturday thereby avoiding paying extra for a stat holiday cannot be done. If a worker normally works on a Saturday they must be rostered on as normal. 

Don’t try to avoid paying tax because you will get caught. That has been proven once again with two people being imprisoned for not declaring $2.5 million. The pair were running several retail outlets that enabled them to pocket cash. Kerry Adams  says IRD are very quick to latch onto the fact that people are spending a lot more than they are declaring, and they are very aware of margins in all types of businesses. (Watch Interview)

Horticulture and Cropping
Brassicas are likely to be hit hard by insects this summer. Dennis Carter says the dry conditions are ideal for insects and brassicas suffering from drought will be hit hard. He says with some insects becoming resistant to sprays, producers need to take care to use the correct insecticide. 

Don’t let the dry conditions lull you into a false sense of security about fungi pressure. Dennis reminds you that crops that are irrigated create the ideal environment for fungal pressure.

Feed barley reserves carried over from last season will be a blessing as this season the yields are expected to be done due to the drought. Dennis says the carried over barley is double what it would normally be, but that will certainly be needed because of the reduction in this year’s crop. (Watch Interview)

Irrigation by RX Plastics
It doesn’t matter if you irrigate at night or during the day as the evaporation difference is very small. Tony Davoren says it is a myth that irrigating during the day reduces the impact of the water due to evaporation and even guns in windy conditions don’t make any difference. (Watch Interview)

Real Estate
Corporates are still buying dairy units despite the prospect of low dairy prices. Gareth Cox from Property Brokers says corporate buyers are looking at the long term outlook and are still buying and developing dairy units. He says beef units are also selling well, along with horticulture blocks.    

If you want to sell your farm, plan ahead. That’s the advice from Gareth Cox of Property Brokers. He says sellers should involve their lawyers, accountant and real estate agents well in advance to ensure the sale goes smoothly. He suggests at least 12 months, and some are planning 2 years out. (Watch Interview)

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