As 2013 draws to a close, it is inevitable that we all analyse what transpired in the year, what might have been and what was.
For us 2013 was a unique year. I have never known anything like it in the well over 25 years I have been doing tax. The main thing that was different for 2013 was the fact that the year was almost full on or full off, with not much in between. For much of the year, we have been absolutely flat out and operating at peak capacity, only for literally the plug to be pulled and then for the next week the phone not to ring or emails not to come in; a most unusual situation.
Overall the year has also been good for a number of reasons being:
- Our continued work with a number of key clients and their families on both business succession and inter-generational wealth succession.
- We have won or settled all major tax disputes that we have been involved in for the year. At the end of the year we only currently have two small disputes that have recently commenced.
- A wide variety of interesting and challenging work, particularly internationally.
- The chance to work with a wide variety of clients and their families across all aspects of New Zealand business and all aspects of tax and business issues.
While the drought had an impact at the start of the year, economically the year was certainly quieter than 2012 across the economy from the people we have talked to. There has been a sniff of a pick up at the end of the year so here is hoping that 2014 will be a better year. Maybe this is the new normal and it is something that we should get used to, and maybe it is like still believing in Santa Claus, that we all hope that tomorrow will actually be a bit better than it is today.
Finally, on behalf of Sally and I and the team at Covisory, I would like to wish you all a very Merry Christmas and a Happy New Year. Christmas and the New Year holidays are one of the highlights of the year for all of us as we get to spend quality time with our families and friends and to relax and recover. It is also a great time to look at the big picture issues of where we are going, what we are doing and what is happening in our business.
So for 2014, may it bring everything that you want of it.