Home' Hastings Mail : June 7th 2011 Contents 6 HASTINGS MAIL, JUNE 8, 2011
YOUR CONTRIBUTION COUNTS.
Sam is a surf lifesaver on weekends, and he's involved with a couple of
ocean cleanup groups. Last summer he was called up for jury service.
It meant missing a couple of big wave days and reorganising his shifts
at work, but Sam believes it was worth it.
New Zealanders like Sam contribute to their communities because they know
what it takes to create the kind of country we all want to live in. When you're
called upon to serve your community through jury service, say yes.
The onus is on you: Local accountant Pene Johnstone says business owners must accept
responsibility for their own financial affairs, but never act without expert advice.
Teaming up with
By CAROLYN VEEN
A recent Napier Mail's article on Ron Massey's
mentoring advice to struggling Hawke's Bay
businesses has sparked nationwide debate
among businesspeople, according to the Tax-
Agents Institute of New Zealand.
The institute's president, Napier accountant
Pene Johnstone, said the soundness of
accountants as business advisers is more
about teamwork than responsibility.
Business owners are accountable by law for
their own tax affairs, so when things go wrong
it's the business owner who gets into trouble,
but on the other hand no business owner can
afford to navigate the complex tax and busi-
ness landscape without expert advice,'' she
Most accountants will have their clients
sign disclaimers, which basically absolves the
accountant of responsibility when things go
wrong, so I agree with Ron Massey when he
says business owners must be responsible for
their own affairs.
However, Angela Williams [Hastings
chartered accountant] makes the valid point
that the complexity of legislation and IRD poli-
cies, which change almost daily, make it
impossible for the business owner to function
safely and profitably without expert quality
advice from his or her accountant or tax
Business, she said, is about the numbers,
pure and simple.
Only an accountant is properly qualified to
understand the complicated landscape of
profit and loss, cost, taxes and compliance.
Unfortunately, as tax specialists, we're
often the ambulance at the bottom of the cliff,
and I have worked with many businesses and
accountants after their clients have got into
strife with IRD because the business owner
ignored the issue, was ignorant of law and
policy, didn't seek advice or didn't disclose
everything that they should have to their
accountant. My point is that you work with
your accountant or tax specialist to make sure
your business financial and tax affairs are
properly in place, but this does not mean you
abdicate responsibility for it.''
Ms Johnstone likened TINZ to the special
forces of tax issues.
It represents about 300 tax specialist
members nationally, as well as fostering the
development of quality taxation advice in New
Zealand,'' she said.
And, along with its members, it represents
the interests of all people obligated to pay tax.''
One of only two organisations granted
approved advisor group'' status by the Inland
Revenue (the other being the New Zealand
Institute of Chartered Accountants), TINZ
members must comply with an enforceable
code of ethics, which covers four main areas:
integrity; trust and confidence; standards of
service; and professional conduct.
Failure to comply can lead to a range of
sanctions, including fines and termination of
The third tenant for Home HQ in Hastings has
A new Fishing, Camping and Outdoors
(FCO) store will join The Warehouse and Mitre
10 Mega at the old Nelson Park site,
developers Charter Hall have confirmed.
FCO is a brand new offering from Australia's
Super Retail Group, and the Hastings store
will be one of the first built before others are
rolled out across the country.
FCO will sell camping and fishing equip-
ment, outdoor apparel, barbecues, outdoor
settings and basic boating equipment, includ-
The Australian Super Retail Group chain
operates 50 Ray's Outdoors and 78 Boating
Camping and Fishing (BCF) stores in Aust-
Charter Hall Group development director
Mark Jacobs said FCO was the first of several
tenants expected to be announced in the
coming months, and another retailer was close
to signing up for the next stage of the develop-
Stage two of the development is expected to
incorporate three or four large format retail
(LFR) tenants and a cafe.
FCO will open its new 1400 square metre
store before Christmas. Mr Jacobs confirmed
The Warehouse and Mitre 10 Mega were on
track to open in October or November.
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