Hi and welcome to my first advice column for The Central App.

I’m Tim, a partner at BDO Accounting based in Alexandra (although I service clients across the Central Otago region). A born and bred Southlander, after a decade away overseas ‘continually learning,’ I have returned to my lower South Island roots.

I met my wife Kelly – an Aucklander who doesn’t have the box at Eden Park but does drink Speights! – at university. We have two young daughters, Sophie (9) and Emily (7), and I consider myself extremely lucky to raise them in paradise.

As an adviser, I’d like to make this column topical, relevant, and useful. I want to avoid accounting ‘jargon’; instead, I would rather comment on topics or areas of interest to you the reader. If there is something you would like me to address, please email me and I will look to cover that topic.

This column is primarily about introducing myself to you, but I would also like to make an observation about local conditions. 

There appears to be a real movement of people occurring at present out of the big cities and into the regions, and Central Otago appears to be a large winner in the people movement trends. NZ statistics confirm that our region is the second fastest region growing in terms population size behind the Selwyn District. 

While such movement can put pressure on existing local services and housing stock (most likely keeping our local planners awake at night…), I also see it as an incredibly exciting time for the region. Such population growth should continue to drive prosperity in our region over time – I am calling it the new ‘gold rush.’ 

I am intrigued to see how our region will look in 5 to 10 years’ time based on current forecasted population growth statistics. Furthermore, if the country is to incur some form of recession over the next few years as analysts are predicting, then such population growth should insulate us somewhat. Let’s hope so; now is the time to be cautiously optimistic in my view.

Finally, here’s the one bit of accounting speak for this article. As the deadline to file your 2022 tax returns fast approaches, if you haven’t already done so, please contact your accountant. Time is running out to complete yours and avoid any late filing penalties!

And in relation to the end of the current financial year (31 March 2023), if your business holds stock >$5,000 please make sure you do a stock take at the end of the year. If you have any bad debtors, please ensure they are written off before 31 March 2023 for them to be deductible in that financial year.  

If you have any queries, you can always speak to your accountant, or reach out to me and we will look to resolve!