and - he's done....

Posted 7 years, 11 months ago by Maggie Waine    2 comments

Its the beginning of December now, and David has completed his mission....growing a moustache to help men's health.

 

We raised $80 from three people with internet donations (you know who you are), received $20 from one person in cash donations.  If you have sent a cheque directly to Movember, please let us know so we can thank you directly.

 

Here is the final article.

 

Its not too late still to donate.

To sponsor David's Mo, you can either:

•    Click this link http://nz.movember.com/mospace/93953/ and donate online using your credit card


•    Write a cheque payable to ‘Movember’, referencing David's Registration Number 93953 and mailing it to: Movember, PO Box 12 708, Wellington 6144

 

Since the support for David was a lot less than we expected, Matley Financial Services has boosted the funds in support of Mens Health and donated $500 to the worthy cause.


David's Mo - Week Three

Posted 8 years ago by Maggie Waine    0 comments

Each year 600 men die of prostate cancer in New Zealand and one in ten men will experience depression in their lifetime - many of whom don’t seek help.

To sponsor David's Mo, you can either:

•    Click this link http://nz.movember.com/mospace/93953/ and donate online using your credit card


•    Write a cheque payable to ‘Movember’, referencing my Registration Number 93953 and mailing it to: Movember, PO Box 12 708, Wellington 6144

 

Now, we thought that we would give you a timeline of mo growth so you can see just how hard David has been working for 50% of the population to keep them healthy and happy....

 

Week One

 

 

Week Two 

 

Week Three

 

 

So far David has raised $20 in cash, and $80 via the website.  Thank you so much for those who have donated, you are truly helping to make a difference.

There is only 7 days left in the month before the end of Movember.  Please, dig deep and donate to a good cause.

 


November Newsletter

Posted 8 years ago by Maggie Waine    2 comments

Hello,

Please find our newsletter for November 2009 below.

If you are wondering why you have received this email - you have been automatically subscribed to receiving our newsletter via email due to being a client of Matley Financial Services.  If you no longer wish to receive these newsletters (which will occur every 3 months or so), please click on the unsubscribe function.

______________________________________________

Is Your Trust Up To Scratch?

Having recently attended a professional development course on effective administration of trusts, it has become evident that in the recent case studies coming out of the courts, the focus of trust busting is not on the administration side of the trusts rather on the intent and robustness of the trusts.

To date Matley Financial Services has focused on the administration ensuring that proper records are kept, administrative decisions are made and recorded and that the proper book of accounts are kept.  While these are certainly important to undertake in terms of the ongoing administration of the trust, the focus also needs to be on the intention of the trust at the time of creation.  So how does one prove intention?

The first thing should be the appointment of an independent trustee.  The purpose of an independent trustee is to ensure that an independent party is being consulted in making the decisions relating to the trust.  While its important to note that this also shows that if the independent trustee has not being consulted it shows that the settlors of the trust had no intention of keeping their assets separate, i.e. the trust assets.

The second step is the ongoing day to day operations of the trust.  At the very least, a separate bank account should be maintained by the trust and assets of the trust should be treated as if they are not owned by the individual settlors. 

There are a number of asset classes which separation is easy to determine. For example, Term Deposits, Shares and Bonds.  However, there are some asset classes where this is more difficult, in particular, family properties or beach properties.

If we take into account a trust that owns investments in Term Deposits, listed company shares, debentures etc, the trustees would most probably take recommendations from a stock broker, or an investment advisor. 

However, when the Trust owns such things as shares in unlisted companies (such as the Family Trusts owning shares in the business), the prudent trustee rule would be that the trustees would consider the soundness of the investment to ensure that they are continuing to invest. 

What this means is that if you are an insolvent company (which is when the assets are less than the liabilities of the company and the company can not meet its debts as they fall due) then the trustees may wish to divest themselves of that investment.  What this means is that if you have a LAQC or a loss company, then it is better that the shares are held in the individual names, rather than in the trust names.

The family home and beach homes are also another consideration when looking at intentions of a trust.  For example, if the trustees wish to purchase a beach in Tauranga and have located one that they like and have gone ahead and purchased it and then advised the trustees, no consideration has been given to where the location of the property is and what the long term prospects are.  While it does not mean that the trust cannot purchase the property, consultation with all trustees and minutes to resolve to consider purchasing a beach property would be the most prudent step, rather than finding something and then retrospectively resolving to purchase it.

So what does this mean going forward?

One of the things that we can offer with Matley Financial Services is a full review of your trust.  We can review the asset classes that the trust currently owns and cross reference that to the minutes and resolutions of the trust  to ensure that due process was followed.  In the event that there are some deficiencies in decisions, then it is a matter of correcting the records to show that those decisions have been made.

However, in terms of intention, the idea is to protect the greatest asset that any family has (which is the family home) from attack by creditors.  Therefore if you treat the family home as if it is your own property and not trust property, then creditors will have a claim against that property if your business falls into trouble.  In order to protect this, the idea is to have at least an annual meeting with your trustees on the property and to go through any changes that have been done during the course of the year - e.g. new decks, carpets etc.  

You are not required to go through and explain what repairs and maintenance have been undertaken on the property on the basis that these have been paid in lieu of rent.  However, any repairs and maintenance should be funded from the individual’s pocket, rather than the trust’s pocket.  The alternative is to treat a rent payment from the individual's to the trust and then the trust pays all associated operating expenses as you would have in any normal rental situation.  This would be further supported by the issuing of a tenancy agreement putting the individuals and the trust.  A tax return may not be required.

For those trust that are administered by Matley Financial Services, we will be undertaking a full review of the trusts in the new year to ensure that the intention can be supported an any necessary documentation to support that intention is held on file.  If your trusts are not administered by Matley Financial services and you wish to undertake a review to ensure that they are compliant as much as they can be, then please contact the office to arrange an appointment to do so.

LAQC's

Remission income can arise when a company is released from a full or partial obligation to repay creditors or loans.  This is becoming a more significant issue in the current climate.

Where the company is a qualifying company, the shareholders are personally liable for their share of any unpaid income tax of the company.  Therefore the shareholders need to consider revoking the QC/LAQC status of the company if the company is unlikely to be able to pay the income tax.

Ideally they should make that decision before the appointment of a liquidator.  We are aware that the IRD has a view that once the liquidator is appointed, the shareholder cannot revoke their QC election as section 248(1)(e) of the Companies Act 10993 says that once a liquidators is appointed, the shareholders' liabilities cannot be altered.

There are other ways a company can drop out of the QC regime, such as revocation of a director's elections or a change in shareholding, but neither of these can be done once a liquidator is appointed.

A reminder too that there are strict rules and timelines for a company becoming a QC/LAQC and maintaining that status.  The IRD gives not leeway for oversights that affect the company's QC/LAQC status.

These are some of the issues we see crop up now and again which are sometimes overlooked:

  • Losses carried forward by a company are forfeited on becoming a QC and cannot continue to be carried forward.  The forfeited losses are not reinstated if the company later ceases to be a QC.
  • For an existing company an election cannot be made retrospectively.  The notice electing to be a QC/LAQC must be received by the IRD before the commencement of the first day of the year for which the company is going to be a QC.  A late notice would be effective from the start of the next year, and any losses incurred in the earlier years would be lost.
  • For a new company the election must be made within the time for filing the company's first income tax return.  This would be to the extended due date if the company has an extension of time at the time of making the election.
  • If a trust is a shareholder, dividends paid to the trust must be passes out as beneficiary income.  Overlooking this revokes the company's QC status and can have adverse consequences for later dividends if they are paid out in the mistaken belief that the company was still a QC.
  • A change in shareholding may require new elections to be made within 63 days of the change.

 

IRD Strips Uncertainty Around "Asset Stripping"

Under section HD 15 of the Income Tax Act 2007 (formerly HK 11 of the 1994 and 2004 Income Tax Acts), directors and shareholders can become personally liable for the tax debts of a company in certain situations.  The effect of this provision is that IRD can "pierce the corporate veil" if a director or shareholder has been party to an asset stripping arrangement so that the company cannot pay its tax debts.  This is not a new provision however, IRD have rarely used this provision partly because of uncertainty about how the section operated in the context of the disputes resolution procedures.  In particular, IRD were unclear whether a Notice of Proposed Adjustment (NOPA) was required to be issues to a director or shareholder.  In the recent case of CIR v Skudder  the IRD made an application to the Court for a ruling on this particular issue.  the Court held that the decision to invoke section HD 15 was a "disputable decision" which meant that IRD was required to issue a NOPA to directors or shareholders before they could become liable for the tax debts of the company.  This decision is not being appealed.  Armed with certainty about the operation of section HD 15 it is likely IRD will be far more vigilant in its efforts to recover corporate tax debt from directors and shareholders, particularly in these current economic conditions.

If you are looking to enter transactions which might leave your company in a position where it cannot meet its tax liabilities, then consideration should be given to whether personal liabilities could arise under section HD 15.  If you have any doubts, please give our office a call for advice about these issues.

A Few Reminders....

We are still having clients posting information to our old addresses.  We moved in June and our redirection will be ceasing this month, so please ensure that you have updated our addresses and phone numbers are per below or your mail will be returned to you:

Physical - 758A Horotiu Road, RD 8, Hamilton 3288

Postal -  PO Box 10318, Te Rapa, Hamilton 3241

Phone - 07 829 7084 or 0800 MATLEY (628539)

Fax -  07 829 7086

Also, since early this year we have closed our Westpac bank account.  Some clients still have this old bank account logged on their internet banking systems.  Please ensure that the following bank account is loaded into your systems for payment:

National Bank - 060869-0122557-01

Ways to Pay

We have multiple ways that you are able to pay your account:

Cheque - made out to Matley Financial Services Ltd

Credit Card - please phone the office to arrange this

Direct Credit - into National Bank - 060869-0122557-01

Cash - it is still legal tender!  Although, we prefer it not being posted to us please.

Please remember that interest is charged on all accounts over 28 days.  Please pay in a timely manner.

Movember - Week Two

Here is the growth for two weeks down.  So far we have acquired only a meagre $100!  Please, to protect and support Men's health, please consider donating towards this worthy cause.

To sponsor my Mo, you can either:

•    Click this link http://nz.movember.com/mospace/93953/ and donate online using your credit card

•    Write a cheque payable to ‘Movember’, referencing my Registration Number 93953 and mailing it to: Movember, PO Box 12 708, Wellington 6144

 

 

 

 

 

 

 

 


Moustache Update - Week One

Posted 8 years ago by Maggie Waine    0 comments

 

Well, here is the result after one week of concentrating really hard!

Remember, to sponsor David's Mo, you can either:

•    Click this link http://nz.movember.com/mospace/93953/ and donate online using your credit card


•    Write a cheque payable to ‘Movember’, referencing David's Registration Number 93953 and mailing it to: Movember, PO Box 12 708, Wellington 6144

 

We have raised a mere $50 so far, but I know that David's mo is capable of doing much better!!!

 

 


Special Movember Update

Posted 8 years, 1 month ago by Maggie Waine    2 comments

DAVID'S TAKING IT OFF!!!

David is taking his beard and moustache off for the first time since he was 18 for Movember!!  David has decided to put down his razor for one month (November) and help raise awareness and funds for men’s health – specifically prostate cancer and depression in men. 

THE STATS


What many people don’t appreciate is that close to 600 men die of prostate cancer each year in New Zealand and one in ten men will experience depression in their lifetime - many of whom don’t seek help. Facts like these have convinced David that he should get involved and he is hoping that you will support him. 

To sponsor David's Mo, you can either:

•    Click this link http://nz.movember.com/mospace/93953/ and donate online using your credit card
•    Write a cheque payable to ‘Movember’, referencing David's Registration Number 93953 and mailing it to: Movember, PO Box 12 708, Wellington 6144

Remember, all donations over $5 are tax deductible.

Movember is now in its fourth year and, to date, has achieved some pretty amazing results by working alongside The Cancer Society and the Mental Health Foundation of New Zealand. Check out further details at: http://nz.movemberfoundation.com/research-and-programs.

If you are interested in following the progress of David's Mo, click here http://nz.movember.com/mospace/93953/. Also, http://nz.movember.com has heaps of useful information. 

Thank you

 

 


September Speculations

Posted 8 years, 2 months ago by Maggie Waine    0 comments

TRADES PEOPLE FINANCE OPTION

Recently we have been in communication with Cati Condon from The Finance Mart regarding what options are out in the marketplace for Trades People to see how we can benefit our clients.

He advises that apart from the public who come directly to them for finance, they have two types of clients;

  • Trades People - who sell direct to the general consumer (Public at large) - otherwise known as B2C or Business to Consumer
  • Trades People and Companies who sell to Businesses - otherwise known as B2B or Business to Business

There are separate applications for Consumer vs Business for obvious financial reasons.

The interest rate that is offered is 16.5%.  This interest rate is based on the average consumer profie, meaning a couple, both employed with clean credit (minor or no adverse credit issues).  The interest rate will drop if the clients present more positively.  Equally, the interest rate will be higher if the clients present adversely; ie, no real security and/or some credit impairment.

LPI (Loan Protection Insurance) cover is included within the repayment figures, and will payout (cover monthly repayments) if the client/s is/are subject to a range of events occurring during the finance period; death, terminal illness, accident, sickness, redundancy, hospitalisation etc. to name a few.

Repayments are based on weekly, fortnightly or monthly basis.

Repayment periods vary between 1 year and 3 years - although if clients would like longer periods then it is possible to arrange via specific quote.  The Finance Mart prefer to limit finance to 3 years so that clients are not overly burdened by servicing long periods of short term debt.

Currently the type of Trades People that The Finance Mart are working with are;

Plumbers, Electricians, Landscape Gardeners, Marketing Companies, Web Designers, Builders etc. 

The list is potentially lengthy if they continue building this carefully.  If you feel that you fit the criteria for this finance, please do not hesitate to contact us and we can advise Cati.

 

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RECESSION COULD BE WORSE?

Source: Stuff.co.nz

For most New Zealanders the recession has been nowhere near as bad as predicted and they are questioning the way news stories about it were reported, survey results show.

Only three in 10 New Zealanders believed the recession had turned out to be as bad ad experts and the news media predicted, according to Research International which published the survey on Thursday 3rd September.

At the same time many people were nervous about what impact the recession could still have.

 Research International client services senior director Paul Epplett said the anxiety being expressed by some people could be seen in attitudes toward jobs and shopping.

"A third of the workforce are not convinced their jobs are secure, and when incomes are not guaranteed, people obviously look to minimise risk" Mr Epplett said.

Two thirds of respondents said they were now trying to pay for things more often with cash rather than credit, while 44% said they were trying harder than in the past to pay off debt.

In light of the recession and the swine fly outbreak, the survey found scepticism of the way issues were reported.

Only two in 10 people taking part in the survey thought that New Zealand news media reported stories in a balanced and unbiased manner.

"This finding shows the tightrope media agencies walk" Mr Epplett said.

"The failure to communicate the possible severity of an epidemic or recession would surely be criticised even more harshly should a worst case scenario eventuate".

The survey was carried out in June and July.

The quantitative stage surveyed 458 respondents, while the qualitative stage completed six focus groups of 2.5 hours with six people in each.

 

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NEW MILEAGE RATES - EMPLOYERS

Source: People in Mind, Cambridge

  1.  Up to 70 cents per km tax free now applies (max 5,000 kms per annum)
  2. If you pay above 70 cents then PAYE rates apply to the difference
  3. Over 5,000 kms per annum, different rules apply.

For further information, please contact our office and we will put you in touch with our Human Resource specialist.

 

 

 

 

 

 

 

 

 

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LIGHT RELIEF

The Middle Wife by an Anonymous 2nd Grade Teacher

I've been teaching now for about fifteen years.  I have two kids myself, but the best birth story I know is the one I saw in my own second grade classroom a few years back.

When I was a kids, I loved show-and-tell.  So I always have a few sessions with my students.  It helps them get over shyness and usually, show-and-tell is pretty tame.  

Kids bring in pet turtles, model airplanes, pictures of fish they catch, stuff like that.  And I never, ever place any boundaries or limitations on them.  If they want to lug it in to school and talk about it, they're welcome.

Well, one day this little girl, Erica, a very bright, very outgoing kid, takes her turn and waddles up to the front of the class with a pillow stuffed under her sweater.

She holds up a snapshot of an infant.  "This is Luke, my baby brother, and I'm going to tell you about his birthday".

"First, Mum and Dad made him as a symbol of their love, and then Dad put a seed in my Mum's stomach and Luke grew in there.  He ate for nine months through an umbrella cord."

She's standing there with her hands on the pillow, and I'm trying not to laugh and wishing I had my camcorder with me.  The kids are watching her in amazement.

"Then, about two Saturdays ago, my Mum starts saying and going, 'Oh, Oh, Oh, Oh!'" Erica puts a hand behind her back and groans.  "She walked around the house for, like an hour, 'Oh, oh, oh!'" (Now this kid is doing a hysterical duck walk and groaning).

"My Dad called the middle wife.  She delivers babies, but she doesn't have a sign on the car like the Domino's man.  

They got my Mum to lie down in bed like this." (Then Erica lies down with her back against the wall.)

"And then, pop! My Mum had this bag of water she kept in there in case he go thirsty, and it just blew up and spilled all over the bed, like psshhheew!" (This kid had her legs spread with her little hands miming water flowing away.  It was too much!).

"Then the middle wife start saying 'Push, push' and 'Breathe, breathe'.  They started counting, but never even got past ten.  Then, all of a sudden, out comes by brother.  He was cover in yucky stuff that they all said was from Mum's playcentre, (placenta) so there must be a lot of toys inside there.  When he got out, the middle wife spanked him for crawling up in there."

Then Erica stood up, took a big theatrical bow and returned to her seat.  I'm sure I applauded the loudest.  Ever since then, when it's show-and-tell day, I bring my camcorder, just in case another 'Middle Wife' comes along.

 

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David at the Perth Zoo being a good husband and holding onto Maggie's handbag...
David at the Perth Zoo being a good husband and holding onto Maggie's handbag...

 


Recession? What Recession??

Posted 8 years, 4 months ago by Maggie Waine    2 comments

SURVIVING THE RECESSION - some tips 

There are three key factors that can help business survive and grow - good business planning, good systems and a good culture.

Business Planning

Spending a lot of time and having a lot of help putting a business plan together helps provide a road map.  It's the best investment you could make.  The plan means you are very clear about what you want to do, and how, before you start.

Of course, what you want to do and what actually happens is not always the same thing.  Every month you should sit down, revisit the plan and compare what you said you'd do against what you actually did do.  Then you make changes and tweak the plan as you need to.

For example, by changing your ordering process (including the number of items they order at the same time), you can make savings on freight costs.  And by replacing the large water heating tank with a smaller one that suits your needs better, reduces energy costs.  Small changes on their own - but they all add up.

Systems

Investment in systems is vital as they provide the information you need about how the business is going so you can make changes when you need to.  Having good systems saves a lot of time and effort.  They also help from a service perspective.  For example, all the data for your customer loyalty programme can be held on your system, so it doesn't matter who serves the customer they will always be able to get a loyalty discount.

Culture

In a service and product business you should strive to create a pleasant environment that your customers enjoy.  The key thing is that every customer's important, it doesn't matter whether they spend a lot or a little.

Not everyone's looking for an expensive, high end product.  A lot of customers are just looking for a good product they can use to meet their needs.  Having a culture that aims to take the problem away from the customer, so they can get on with their life and business reflects great customer service and repeat sales.

Another reason for success is passion for what you are doing.  If you know your product or service, care about it and the customer, people will trust you.  That's something you can't replicate.

Tips on Managing Cashflow

Cashflow problems are one of the biggest causes of business failure - particularly in the current environment.  We look at some basics of cashflow management and how they can help you stay afloat.

Most business have "lumpy" income.  That's why you need to actively manage your cashflow.  You need to make sure you can bridge the gap between when the money comes in and when it goes out.

Cashflow is a particular issue right now, in a challenging trading environment.  But you can also have cashflow problems when business is booming - for example if you don't have the money on hand to fund replacement stock.  In fact, many businesses are actually profitable when they fail.

Typical indications of cashflow problems in your business include:

1- Struggling to meet your business expenses and wages

2- Finding yourself going into overdraft "unexpectedly" to meet expenses or pay a tax bill

3- Having to ask for special funding arrangements to meet commitments.

Like most things in business, the key to managing these and other cashflow problems is to plan ahead.  Every business owner should be able to put together a cashflow forecast.  It's essentially just a spreadsheet that lists all the cash you think you'll get in over a particular period, and all the money that's likely to go out in the same period (on wages, drawings, GST and tax payments, supplies, etc).  It allows you to see where you have have problems meeting your commitments.

Once you kow where and when you may have problems, you can start to plan how to overcome them.  For example, you may be able to defer major purchases until you're likely to have more cash on hand.  Or you could consider not purchasing the item at all and leasing it instead.  Another solution may be to reduce or defer your personal drawings.  There are usually a number of approaches that could work - the main thing is to anticipate potential problems in the first place, rather than having them take you by surprise.

One common cause of cashflow problems is forgetting about GST and tax payments, or using money set aside for tax to fund other business costs.  There are two reason why you shouldn't neglect your tax obligations.  First, there are penalties for late payment of tax, which can be onerous.  Second, it simply masks any underlying cashflow issues.

There are a number of ways to improve the cashflow in your business to help avoid problems.  One of the most important (but often neglected) is to put money aside in good times, to give you some breathing room when things are tighter.

Another is to get paid faster, so they money comes in earlier.  For example, review your terms of trade - many businesses ask for payment by the 20th of the month.  But there's no reason why you shouldn't reduce that.  Depending on your business you could even ask for payment on completion or on delivery.  Make sure your terms of trade are clearly stated and your customers know what you expect.

Chasing up debt is also important - many business owners feel uncomfortable doing this and let it slide.  But you're simply giving your customers free credit.  Communication is the key.  Even when customers are having real trouble paying, you can often work out a solution that works for both parties.

Make your money work for you

As a business owner, you work hard - and so should your money.

In your business you have to manage a lot of different things - your overheads, your staff, your customer relationships, and your workflow.  But how closely do you manage the money in your business?

Because they're focused on building their business, many owners simply dump business funds into a current account until they're needed.  But they could be doing much more.  Here are some tips to help you get the best from the money in your business.

Day to Day Money

It's well worth taking a few moments to ensure the fee plan you're on for your Business Current Account reflects the way you actually use your account.

For example, if you make relatively few transactions, a Pay as You Go plan may be more cost-effective as it has a low monthly account fee and you pay for each transaction.  If you make a lot of transactions a better option may be the more transactions you make, the lower the transaction fee.

Check out the "Business Transaction Account Fee Calculator" on the National Bank website (www.nbnz.co.nz).  Simply enter your information and the calculator will work out which fee plan suits you best.

Rainy Day Money

Make sure you regularly transfer "rainy day money" out of your current

account and into an account where you earn higher interest but can still access your money when you need to.  Don't let it sit in your current account doing nothing.

Investments

Too many business owners have all their personal wealth tied up in their business.  That's a risk as it means they're not properly diversified and their personal finances are overly exposed to business fluctuations.  While you obviously need to keep enough money in the business to finance day to day operations and growth, its also important to regularly transfer money out of the business for your own wealth creation.

Transferring it out of the business is one thing, managing and protecting it is another.  If it's just going to be sitting in your personal account instead of the business current account, you're not much better off.

There are a range of investment opportunties outside your business - the best options for you depend on your goals, your timeframe, and your level of comfort with different types of investments.  Please contact us to review your investment needs.

However you decide to invest money outside your business, one thing is certain - the sooner you get a plan in place and start, the better off you'll be.

IRD's Audit/Compliance Focus for 2009/2010

In a welcome move, the IRD recently published "advance notice" of areas of focus in its compliance management programme for 2009/2010.  Given the current economic crisis its is not surprising that key areas of focus are managing tax debt and identifying the "hidden economy" to combat fraud.

While the document (some 40 pages) outlines a number of areas the IRD intends to focus on the current year, some items of interest include:

  • Property transactions, the IRD's focus appears to continue to be on property acquired with the intention of resale.
  • Income from offshore investments (calculation of FIF income, overseas data matching exercises to identify unreported income).
  • Artificial tax losses - more focus on investigating substantial tax losses.
  • Online traders not reporting income.
  • Hidden economy, including GST fraud, focus on the hospitality industry and on agricultural/horticultural contractors.
  • High wealth individuals - global wealth structures.
  • Misusing charity tax-exempt status.
  • Transfer pricing - importing offshore losses through non market pricing, potential gaming of interest rates, advance pricing agreements, continued monitoring of limited risk distributor structures and compliance with the thin capitalisation rules.
  • Aggressive tax planning, including business restructures, hybrid financial instruments, imputation structures and structured finance.

The identified areas of focus are not anything new.  However, the fact that the IRD has publicly announced its compliance strategy does provide greater certainty as to what the IRD is viewing as "high risk", and therefore which transactions and areas warrant further care and attention.

If you would like further assistance on any of these issues, please do not hesitate to contact us.

Matley Housekeeping

Just a few reminders:-

  • We have moved house.  Our new physical address is 758A Horotiu Road, Te Kowhai and our new postal address is PO Box 10318, Te Rapa, Hamilton 3241.  Our new phone number is 07 829 7086 and our new phone number is 07 829 7084 or 0800 MATLEY.

 

  • We have now closed our bank account that we held with Westpac Bank.  If you are still paying into this account, you will find that the transactions will fail.  Please keep an eye on this should you find that you receive statements for amounts that you think that you have already paid and contact the office if you are unsure.

 

  • From the 6th July until 20th July Maggie is away from the office, so please be nice to the boys! 

  

I've got my Eye on You.....
I've got my Eye on You.....
A wave from Ben...
A wave from Ben...


Matley's May Update

Posted 8 years, 6 months ago by Maggie Waine    1 comment

MATLEY ON THE MOVE

It is with pleasure that the team at Matley Financial Services announces that Matley is on the move.  As you may (or may not) be aware, we have been struggling for office space for the last 18 months.  With the economy tightening, we decided against building a separate office space on our property and instead have decided to move house.  Our new house is situated in Te Kowhai, Hamilton and is large enough that we can turn the upstairs into solely business offices.

We will be CLOSED from 27th May to 2nd June 2009 while we relocate.  Our new postal address will be from 26th May 2009:

Matley Financial Services Ltd
PO Box 10318
Te Rapa
Hamilton 3241

Our new physical address - if you want to visit for a coffee and looksee:

758a Horotiu Road
RD 8
Hamilton 3288

We also will have new phone numbers from the 26th May 2009:

0800 MATLEY (628 539) stays the same
Office: 07 829 7084
Fax: 07 829 7086

Mobiles will also remain the same.

While the office will be closed - David is still available by mobile for any emergency accounting issues, however email and internet will be done until after Queen's Birthday weekend.

We believe that although we are moving to the other side of the Waikato River, we will be able to improve our systems and processes in the office and therefore the overall service to you our clients with a more functional office space than what we currently have.  We are also still exceptionally close to town whilst maintaining the lifestyle living that we adore.  Only 4 minutes to The Base!!

 

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MATLEY RESTRUCTURE

Every 12 months the team at Matley Financial Services undertakes a strategic review.  The strategic review this year was done in April and one of the risks that had been identified by us as a team was the significant reliance that the practice had on David.  A review of the different functions that were undertaken by David means that the practice has now been effectively seperated into two different divisions.

The first division is the processing side which includes the compliance, GST's, Company and Trust Administration as well as the tax management system. This function is overseen by both Maggie and Ben and there will be increased involvement by both Ben and Maggie in the coming months as many of the processing side of David's work is transferred across to them.

David's role has evolved into one which has been loosely defined as Issues.  By this it means that he is involved in the consultation and dealing directly with the clients in solving many of the issues that arise in a day to day basis with the current economic crisis.

In all of the restructure process we will ensure that the level of service offered to clients is maintained at the high standard that we strive to achieve.  Over the next couple of months as we implement this strategy, there may be some teething problems and we just ask that you bear with us as we work through these.  We will stand by you as the client and if there is any issues in terms of service, or any tax issues that arise, we will address them immediately.  We believe that by undertaking this strategic realignment, it means that the level of service will be maintained to clients when David is out of the office and that day to day general queries in regards to processing of the accounts can continue.

 

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AMP - WINTER SEMINAR

AMP Waikato Financial Solutions are a valued client of Matley Financial Services Ltd and are running a Winter Seminar.  Check out the details below:

We have invited two guest speakers. Anthony Sowerby from AMP Capital Investors is a Chartered Financial Analyist who has extensive experience in the overseas investment market. He will be taking you through

Maximizing P.I.E* Benefits for your Investment

We have also invited Cathy Fleming from Rothbury’s Insurance Brokers, who is a Senior Associate of the Australia & New Zealand Institute of Insurance & Finance with over twenty years of experience as an Insurance Broker in Hamilton and will be explaining

What our association with Rothbury’s entails, and how it can benefit you

 

The seminar will be held

Wednesday July 16th

At

Waikato Stadium Referee Lounge

From 6:00pm until 7:30pm

The seminar will take approximately one hour and will be followed by refreshments and an opportunity to discuss any questions with your adviser or the guest speakers.

To take advantage of this valuable opportunity, please email your reply to Marnie Carroll at marnie_carroll@amp.co.nz or phone us on 07 834 7770.

  

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Sunrise at Vaile Road - 2009 (Maggie Waine)
Sunrise at Vaile Road - 2009 (Maggie Waine)



Shim