The Value in Admitting Your Mistakes

Over the past month I have been following with great interest the Fonterra fiasco, and the roles various parties have played in creating and sustaining the controversy.

As is often the case, media have played a major role in beating up an issue and creating hysteria amongst the general public in both New Zealand and China.

Yet underneath the hysteria, perception is very important and given this age of political correctness and the litigious society we live in lies a very important lesson.  That lesson is to be upfront in any dealings from the very start and this is something Fonterra did not do well.  Westland Milk Products, on the other hand, coped admirably when faced with a similar predicament – probably learning from Fonterra’s mistakes.


Restoration Of An Icon: The Henderson Railway Station

The historic Henderson Railway Station was officially re-opened last month at an event celebrating the completion of its much-anticipated restoration.
The restoration project was the work of the Henderson Heritage Trust, headed by Michael Joyce, in an undertaking spanning no less than 13 years.  It is a credit to the Trust’s nine trustees, who overcame numerous frustrations with hard work, patience and support to see the project to its impressive conclusion.

The first train to Henderson was in 1881 and brought people from Auckland to the St Patrick’s Day horse races in Henderson Park.  Over the next 30 years the Henderson district grew rapidly to include many orchards, vineyards and market gardens, all bringing added demand for rail transport.  The heritage station was built in 1912 to accommodate the increased activity, operating for 20 hours per day and employing 7 railway workers.  Back then it consisted of a passenger platform, shelter shed, ladies waiting room, lavatory and goods shed.


Mixed Use Assets

UHY Haines Norton’s Head of Tax Jim Martin explains the changes to the Mixed Use Assets (MUA) regime.    Jim Martin

Do You Own a Bach, Boat or Aircraft?
If so then the Mixed Use Asset (MUA) rules might apply to you.  The MUA regime has already commenced for land (e.g. holiday homes) effective from the 2013/2014 tax year, i.e. from 1st April 2013 for most taxpayers.  The rules for aircraft and boats/“marine vessels” don’t come into effect until the 2014/2015 year and only apply to these assets whose cost is over $50,000.  No monetary limit is set for land. The rules are designed to limit the tax deductible expenses claimed by the owners of MUAs.