November 25, 2025 • 7 mins
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
On the show, we've got GC Hall from macleananmore.
Speaker 2 (00:03):
Good afternoon, GESC. How you going good? How are you good? Thanks?
Speaker 1 (00:07):
I've got the tune little lies from Fleetwood max I.
Speaker 2 (00:10):
Hopefully you're not going to tell.
Speaker 3 (00:11):
Us any no no, no lies this today.
Speaker 2 (00:13):
How's the day going good? Good?
Speaker 3 (00:15):
Actually it was quite good driving up from a Vicago
today to see a lot of tractors and things on
the road. So people definitely taking advantage of the good
weather that's out there.
Speaker 2 (00:23):
It's certainly all happening out there. Yeah, yep, yep. So
today we're going to talk.
Speaker 1 (00:29):
A bit of ACC and Christmas parties and gifts and
that sort.
Speaker 2 (00:32):
Of carry on. Yep, yep. Tell us a bit about
the ACC side of things.
Speaker 3 (00:38):
Yeah. Actually, just before we do get into that, I'll
have a we plug about the Fontira price release yesterday.
So not many people be aware or if you are,
that Fonterra did bring out fifty cents decrease in the forecast.
And so if you've got a farm that's producing two
hundred and fifty thousand milk solids, then that's effectively hundred
(01:00):
and twenty five k out of your bottom line down below.
So if you are concerned or especially going to Christmas,
just want you to have a bit more of a
plan in place. It's good time to update those budgets
and also maybe reach out to your accountant just to
check in on cash flow and potentially tax in the
new year as well, to make sure you may not
be paying more than you need to, because if you
(01:21):
did a plan at the start, obviously we'll be looking
at a bit you would have originally planned for a
higher tax bill than you're probably looking at now.
Speaker 2 (01:28):
Certainly something to watch out for, isn't it. Yeah, Yeah,
for sure. Yeah.
Speaker 3 (01:31):
But in line with Christmas being next month as well,
I thought i'd just talk about just making sure you've
got some back up in place if something goes wrong,
and hopefully it doesn't go wrong over summer, but it
is always good to have a plan in place. And
today's theme is about ACC so we have had a
few instances recently of some people really struggling through ACC
(01:52):
so I thought it'd be quite topical to talk about
it today and just make the witness out there for
eve run to jump in and either talk to your accountant,
all their insurance provider to make sure they actually have
some good cover in place, So if you don't have
personal and private insurance, then then basically you fall into ACC.
And not many people actually know there's two types of ACC.
(02:16):
So this's what we call ACC cover plus and ACC
cover plus extra. If you don't have a set level
of cover with ACC, which is the extra part, then
it's based on your earnings for the year last or
earnings last year. And so if you have been trying
to take advantage of tax advantages and spread the income
around and you get injured over summer, so you say
(02:37):
you have an axcitent on the boat, or you decide
to go hiking after not having hyped all year and
pull something, then that's where your cover falls back into
just what your earnings were last year, or justifying a
decrease in earnings this year. Since we're having a good
conversation around ACC or even having some private insurance, so
talking to an insurance broker around that. So that way,
(02:58):
if something happens over summer, I've got something in place.
Speaker 1 (03:00):
Really Yeah, and I guess it's not ideal, but it's
better to if some cover than that, isn't it.
Speaker 2 (03:05):
Yeah, that's right.
Speaker 3 (03:06):
I mean ACC there is to help you, but it's
not doesn't always come through, as we've sort of know
and see with most government agencies.
Speaker 2 (03:13):
Yeah, so just making.
Speaker 3 (03:14):
Sure you've got your tea's crossed and your eyes dotted
kind of thing, and you've had some at least a
conversation around it anyway.
Speaker 1 (03:20):
And I should imagine most people are hopefully a lot
of people are aware of it, because there's a lot
of people have sort of had the d slip up
and put of damage along the way.
Speaker 3 (03:29):
Yeah, that's right. And from our perspective, it's making sure
if something does happen, then you're at least getting something
come in that will help cover the cost of bringing
someone else on farm to help cover whatever you can't do.
Speaker 1 (03:40):
Really, that's right. And at least then the farm can.
You can still look out of the drawings and yeah,
that's right, all going, well, yeah, that's right. Christmas parties
and gifts and so on. This is a bit of
a minefield, isn't it if you want to play by.
Speaker 2 (03:52):
The rules, Yeah for sure.
Speaker 1 (03:54):
Yeah.
Speaker 3 (03:54):
I think the official advice from the idea is like
twenty six pages long or something like that, and I've
got all these inclusion and exclusion criterias really, but there's
some really good rule of thumbs really if you're providing
anything over or for your employees, so like your Christmas
parties and things like that, anything food and drink related,
it's just going to be fifty percent deductible. If you're
(04:15):
doing like Christmas at the Racism things like that, again,
that stuff's fifty percent deductible.
Speaker 2 (04:19):
It's not often you'll see.
Speaker 3 (04:20):
Stuff come through that's one hundred percent deductible, but at
least you're getting something for nothing sort of thing. So
if you're going to rack up a few boxes of
beer from Liquorland or anything like that, just make sure
you put it through the business because it's better to
get a claim for something rather than nothing really.
Speaker 2 (04:35):
Yeah true, yeah, yeahead of just buying it across the bar. Yeah,
that's right.
Speaker 3 (04:38):
Yeah, you're putting it on your personal card for the guys,
so you might as well claim something where you can. Really.
But and a lot of time people do ask us
about like cash bonuses and things like that, so there
are some fish hooks there. If you are giving anything
that's cash or feels like cash in the eyes of
your employees, that technically should go through either the renow
(05:00):
amiration package, so part of their pay or they or
you're potentially in the line for paying some sort of
fringe benefit there as well. So the thresholds if you
are interested, the thresholds for that are either twelve hundred
bucks a year or three hundred dollars per employee, and
if you have quite a big team, it's up to
twenty two and a half thousand dollars a year for
all your employees in totals. So if you are going
(05:21):
to do some sort of bonus or gift over Christmas,
make sure it's something, yeah, make sure something that you
purchase and can pass on, or if you're doing some
sort of voucher or something, is better to go the
voucher's route than cash effectively.
Speaker 2 (05:34):
Yeah, and it buys a lot of fuel.
Speaker 3 (05:36):
And yeah fuel yeah potentially yeah, yeah, fuel for the boats.
Speaker 1 (05:42):
And that's awesome. Look, I just a lot of this
stuff is a wee bit over my head. But when
you say about twenty six pages, all I can think
of is there'll be loopholesy, it's got to be. Not
that you're professing that they should be, but we know
that people play it pretty straight. But there there's always
things that can while you could be LOOPO was one way.
Speaker 2 (06:02):
There's things that can catch you out. On the other hand, too,
isn't here.
Speaker 3 (06:04):
Yeah that's right. Yeah, I mean some of the stuff
is a little bit murky. But as long as you
get some good advice or at least offer it up
as a possibility, then we can have that joint discussion
together about what we can and can't claim completely.
Speaker 2 (06:19):
Yeah. So, and this is your first time you're doing
this on the radio, you tell me before, Yes, yes,
it is, yep. Yeah, there's the nerves actually pretty good.
Speaker 3 (06:27):
Now, Yeah, the first five seconds are probably the most
nerve wrecking, but I guess you get into the flow.
Speaker 2 (06:32):
Yeah. I would say seeing me metal around would get
rid of nerves for most people.
Speaker 1 (06:36):
Yes, so hey, look Jessie, thank you very much for
coming in and joining us.
Speaker 2 (06:41):
And yeah, just all the best for the future and
we'll keep in touch at some stage. Yeah, no, sounds good.
Speaker 3 (06:47):
And if I don't run into anyone who's listening to
this today, have a merry Christmas. And if you do
need some advice, just feel free to reach out to
us on three two one four four one sixty six
or if you're in town, either in Gordon and Vicago.
When you want to free coffee, then drop into one
of our officers and you can get a bit of
advice as well as a free coffee too.
Speaker 1 (07:05):
Get on it for a free coffee. It's not often
the lawyers to freeber is there?
Speaker 3 (07:08):
Oh sorry, the account the counter is yeah yeah, the lawyers.
Speaker 2 (07:13):
Yeah. Awesome. Thanks you see awesome. Thanks
On the show, we've got GC Hall from macleananmore.
Speaker 2 (00:03):
Good afternoon, GESC. How you going good? How are you good? Thanks?
Speaker 1 (00:07):
I've got the tune little lies from Fleetwood max I.
Speaker 2 (00:10):
Hopefully you're not going to tell.
Speaker 3 (00:11):
Us any no no, no lies this today.
Speaker 2 (00:13):
How's the day going good? Good?
Speaker 3 (00:15):
Actually it was quite good driving up from a Vicago
today to see a lot of tractors and things on
the road. So people definitely taking advantage of the good
weather that's out there.
Speaker 2 (00:23):
It's certainly all happening out there. Yeah, yep, yep. So
today we're going to talk.
Speaker 1 (00:29):
A bit of ACC and Christmas parties and gifts and
that sort.
Speaker 2 (00:32):
Of carry on. Yep, yep. Tell us a bit about
the ACC side of things.
Speaker 3 (00:38):
Yeah. Actually, just before we do get into that, I'll
have a we plug about the Fontira price release yesterday.
So not many people be aware or if you are,
that Fonterra did bring out fifty cents decrease in the forecast.
And so if you've got a farm that's producing two
hundred and fifty thousand milk solids, then that's effectively hundred
(01:00):
and twenty five k out of your bottom line down below.
So if you are concerned or especially going to Christmas,
just want you to have a bit more of a
plan in place. It's good time to update those budgets
and also maybe reach out to your accountant just to
check in on cash flow and potentially tax in the
new year as well, to make sure you may not
be paying more than you need to, because if you
(01:21):
did a plan at the start, obviously we'll be looking
at a bit you would have originally planned for a
higher tax bill than you're probably looking at now.
Speaker 2 (01:28):
Certainly something to watch out for, isn't it. Yeah, Yeah,
for sure. Yeah.
Speaker 3 (01:31):
But in line with Christmas being next month as well,
I thought i'd just talk about just making sure you've
got some back up in place if something goes wrong,
and hopefully it doesn't go wrong over summer, but it
is always good to have a plan in place. And
today's theme is about ACC so we have had a
few instances recently of some people really struggling through ACC
(01:52):
so I thought it'd be quite topical to talk about
it today and just make the witness out there for
eve run to jump in and either talk to your accountant,
all their insurance provider to make sure they actually have
some good cover in place, So if you don't have
personal and private insurance, then then basically you fall into ACC.
And not many people actually know there's two types of ACC.
(02:16):
So this's what we call ACC cover plus and ACC
cover plus extra. If you don't have a set level
of cover with ACC, which is the extra part, then
it's based on your earnings for the year last or
earnings last year. And so if you have been trying
to take advantage of tax advantages and spread the income
around and you get injured over summer, so you say
(02:37):
you have an axcitent on the boat, or you decide
to go hiking after not having hyped all year and
pull something, then that's where your cover falls back into
just what your earnings were last year, or justifying a
decrease in earnings this year. Since we're having a good
conversation around ACC or even having some private insurance, so
talking to an insurance broker around that. So that way,
(02:58):
if something happens over summer, I've got something in place.
Speaker 1 (03:00):
Really Yeah, and I guess it's not ideal, but it's
better to if some cover than that, isn't it.
Speaker 2 (03:05):
Yeah, that's right.
Speaker 3 (03:06):
I mean ACC there is to help you, but it's
not doesn't always come through, as we've sort of know
and see with most government agencies.
Speaker 2 (03:13):
Yeah, so just making.
Speaker 3 (03:14):
Sure you've got your tea's crossed and your eyes dotted
kind of thing, and you've had some at least a
conversation around it anyway.
Speaker 1 (03:20):
And I should imagine most people are hopefully a lot
of people are aware of it, because there's a lot
of people have sort of had the d slip up
and put of damage along the way.
Speaker 3 (03:29):
Yeah, that's right. And from our perspective, it's making sure
if something does happen, then you're at least getting something
come in that will help cover the cost of bringing
someone else on farm to help cover whatever you can't do.
Speaker 1 (03:40):
Really, that's right. And at least then the farm can.
You can still look out of the drawings and yeah,
that's right, all going, well, yeah, that's right. Christmas parties
and gifts and so on. This is a bit of
a minefield, isn't it if you want to play by.
Speaker 2 (03:52):
The rules, Yeah for sure.
Speaker 1 (03:54):
Yeah.
Speaker 3 (03:54):
I think the official advice from the idea is like
twenty six pages long or something like that, and I've
got all these inclusion and exclusion criterias really, but there's
some really good rule of thumbs really if you're providing
anything over or for your employees, so like your Christmas
parties and things like that, anything food and drink related,
it's just going to be fifty percent deductible. If you're
(04:15):
doing like Christmas at the Racism things like that, again,
that stuff's fifty percent deductible.
Speaker 2 (04:19):
It's not often you'll see.
Speaker 3 (04:20):
Stuff come through that's one hundred percent deductible, but at
least you're getting something for nothing sort of thing. So
if you're going to rack up a few boxes of
beer from Liquorland or anything like that, just make sure
you put it through the business because it's better to
get a claim for something rather than nothing really.
Speaker 2 (04:35):
Yeah true, yeah, yeahead of just buying it across the bar. Yeah,
that's right.
Speaker 3 (04:38):
Yeah, you're putting it on your personal card for the guys,
so you might as well claim something where you can. Really.
But and a lot of time people do ask us
about like cash bonuses and things like that, so there
are some fish hooks there. If you are giving anything
that's cash or feels like cash in the eyes of
your employees, that technically should go through either the renow
(05:00):
amiration package, so part of their pay or they or
you're potentially in the line for paying some sort of
fringe benefit there as well. So the thresholds if you
are interested, the thresholds for that are either twelve hundred
bucks a year or three hundred dollars per employee, and
if you have quite a big team, it's up to
twenty two and a half thousand dollars a year for
all your employees in totals. So if you are going
(05:21):
to do some sort of bonus or gift over Christmas,
make sure it's something, yeah, make sure something that you
purchase and can pass on, or if you're doing some
sort of voucher or something, is better to go the
voucher's route than cash effectively.
Speaker 2 (05:34):
Yeah, and it buys a lot of fuel.
Speaker 3 (05:36):
And yeah fuel yeah potentially yeah, yeah, fuel for the boats.
Speaker 1 (05:42):
And that's awesome. Look, I just a lot of this
stuff is a wee bit over my head. But when
you say about twenty six pages, all I can think
of is there'll be loopholesy, it's got to be. Not
that you're professing that they should be, but we know
that people play it pretty straight. But there there's always
things that can while you could be LOOPO was one way.
Speaker 2 (06:02):
There's things that can catch you out. On the other hand, too,
isn't here.
Speaker 3 (06:04):
Yeah that's right. Yeah, I mean some of the stuff
is a little bit murky. But as long as you
get some good advice or at least offer it up
as a possibility, then we can have that joint discussion
together about what we can and can't claim completely.
Speaker 2 (06:19):
Yeah. So, and this is your first time you're doing
this on the radio, you tell me before, Yes, yes,
it is, yep. Yeah, there's the nerves actually pretty good.
Speaker 3 (06:27):
Now, Yeah, the first five seconds are probably the most
nerve wrecking, but I guess you get into the flow.
Speaker 2 (06:32):
Yeah. I would say seeing me metal around would get
rid of nerves for most people.
Speaker 1 (06:36):
Yes, so hey, look Jessie, thank you very much for
coming in and joining us.
Speaker 2 (06:41):
And yeah, just all the best for the future and
we'll keep in touch at some stage. Yeah, no, sounds good.
Speaker 3 (06:47):
And if I don't run into anyone who's listening to
this today, have a merry Christmas. And if you do
need some advice, just feel free to reach out to
us on three two one four four one sixty six
or if you're in town, either in Gordon and Vicago.
When you want to free coffee, then drop into one
of our officers and you can get a bit of
advice as well as a free coffee too.
Speaker 1 (07:05):
Get on it for a free coffee. It's not often
the lawyers to freeber is there?
Speaker 3 (07:08):
Oh sorry, the account the counter is yeah yeah, the lawyers.
Speaker 2 (07:13):
Yeah. Awesome. Thanks you see awesome. Thanks
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