Latest news with #Fieldays
NZ Herald
an hour ago
- Business
- NZ Herald
New Zealand tractor numbers fall from peak as new registrations drop
It showed the number of active tractors registered in New Zealand reached a peak of 34,549 in March 2022. By March this year, it had dropped 4.4% to 33,044. The decline in tractor numbers is largely due to the low number of new tractor registrations over time. In the 12 months to April this year, there were 1925 new tractors registered in New Zealand, down 17% from a year ago and the smallest annual total since mid-2001. Both the actual number of registered tractors and the 12-month moving average have now fallen below 33,000, the first time tractor numbers have been beneath this threshold since 2017. Olsen said the drop was being driven by a range of factors, including changes in technology and farming practices. 'Particularly the likes of larger tractors coming on stream, larger farms meaning you don't need quite as many tractors because of larger parcels of land, and also a bit more corpritisation of farming in New Zealand where people are using contractors and similar to ensure whatever they're buying tractors and otherwise are most efficiently used.' Olsen acknowledged that challenging conditions in recent years, including increased on-farm costs and higher interest rates, had put pressure on farmers and limited opportunities for new investment, with many running tractors for as long as possible. He said a level of continued concentration in farms across the country into larger farm operations may have also contributed to a rationalisation of tractor assets nationally. Farmers also seemed to be investing differently, as was evident at the recent Mystery Creek Fieldays near Hamilton. 'People are starting to increasingly embrace a much wider, more diverse set of technology in the primary sector,' Olsen said. 'You know, there were a lot more drones at Fieldays this year, a lot of talk about wearables and the importance of the productivity gains that those sort of options bring.' Tractor sales at Fieldays seemed to have been buoyed, though, by the Government's new tax incentive for farm machinery. Tractor and Machinery Association president Jaiden Drought said Fieldays had been 'fantastic'. 'Everyone went into the Fieldays very buoyant, and the show was certainly a success. 'Everyone had significantly higher inquiry - they thought that even day one of the show was better than all the days combined last year.' Drought felt the drop-off since 2022 related to post-Covid conditions, which included farmers using tractors for longer and more jobs on-farm. He said some of this market uncertainty remained, especially given the current geopolitical outlook. 'I think the trend will see an upswing in machinery sales. 'I think we're just in a little bit of a holding pattern.' He expected sales to improve in the spring. - RNZ
Scoop
3 hours ago
- Business
- Scoop
Worldline NZ Figures Mark First Quarter Of Consumer Spending Growth Since March 2024
Press Release – Worldline Auckland Worldline NZ data released today mark the first quarter of annual consumer spending growth seen since the March quarter in 2024. Consumer spending through all Core Retail merchants in Worldline NZ's payments network in June 2025 reached $3.60B, which is up +0.8% on June 2024, following adjustments for merchants coming and going from the network. Bruce Proffit, Worldline NZ's Chief Sales Officer, says the slightly higher level of spending in June this year follows a similar pattern seen in the previous two months. 'Core Retail spending had lifted above year-ago levels in April and May, and the continued modest annual growth in June will mean the just-completed June quarter will be the first quarter of annual growth since early 2025.' Proffit says while the 1.2% annual growth rate for the quarter may not be high, the turnaround may prove significant in the second half of 2025. 'While June is historically the slowest month of the year for retail merchants, June this year was set to be even slower than last year given a Monday replaced a Saturday in the calendar. So, it is especially encouraging to see positive annual growth recorded.' However, Proffit also says figures recorded through Hospitality sector merchants point out some of the mixed nature of consumer spending at present. 'The consumer spend at Hospitality merchants in Worldline NZ's network was $0.85B over June 2025 and down -2.4% on 2024 but differed across the country,' he says. 'The decline was greater in Auckland/Northland (-4.3%), while the decline was only slight in Nelson (-0.5%), with the Nelson fall largely due to Hospitality spending dropping an average of -21% on the final Thursday-to-Saturday in the month, due to major weather events.' Notably, consumer spending was up in the Waikato region (+3.3%), both before and after the annual mid-month Fieldays event held at Mystery Creek, Hamilton. Within the total Core Retail sector, annual spending growth for June was highest in Whanganui (+6.9%), Taranaki (+4.1%) and Nelson (+4.0%), while spending declined on the same month last year in Wellington (-1.8%) and Auckland/Northland (-0.7%). Note: These figures reflect general market trends and should not be taken as a proxy for Worldline's market share or company earnings. The figures primarily reflect transactions undertaken within stores but also include some e-commerce transactions. The figures exclude transactions through Worldline undertaken by merchants outside the Core Retail sector (as defined by Statistics NZ). About Worldline in New Zealand We are New Zealand's leading payments innovator. We design, build and deliver payment solutions that help Kiwi business succeed. Whether you're looking for in store, online or mobile payment solutions or powerful business insights, Worldline is here to help with technology backed by experience. About Worldline Worldline [Euronext: WLN] helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payments technology, local expertise and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated a 4.6 billion euros revenue in 2024.
Scoop
3 hours ago
- Business
- Scoop
Worldline NZ Figures Mark First Quarter Of Consumer Spending Growth Since March 2024
Worldline NZ data released today mark the first quarter of annual consumer spending growth seen since the March quarter in 2024. Consumer spending through all Core Retail merchants in Worldline NZ's payments network in June 2025 reached $3.60B, which is up +0.8% on June 2024, following adjustments for merchants coming and going from the network. Bruce Proffit, Worldline NZ's Chief Sales Officer, says the slightly higher level of spending in June this year follows a similar pattern seen in the previous two months. 'Core Retail spending had lifted above year-ago levels in April and May, and the continued modest annual growth in June will mean the just-completed June quarter will be the first quarter of annual growth since early 2025.' Proffit says while the 1.2% annual growth rate for the quarter may not be high, the turnaround may prove significant in the second half of 2025. 'While June is historically the slowest month of the year for retail merchants, June this year was set to be even slower than last year given a Monday replaced a Saturday in the calendar. So, it is especially encouraging to see positive annual growth recorded.' However, Proffit also says figures recorded through Hospitality sector merchants point out some of the mixed nature of consumer spending at present. 'The consumer spend at Hospitality merchants in Worldline NZ's network was $0.85B over June 2025 and down -2.4% on 2024 but differed across the country,' he says. 'The decline was greater in Auckland/Northland (-4.3%), while the decline was only slight in Nelson (-0.5%), with the Nelson fall largely due to Hospitality spending dropping an average of -21% on the final Thursday-to-Saturday in the month, due to major weather events.' Notably, consumer spending was up in the Waikato region (+3.3%), both before and after the annual mid-month Fieldays event held at Mystery Creek, Hamilton. Within the total Core Retail sector, annual spending growth for June was highest in Whanganui (+6.9%), Taranaki (+4.1%) and Nelson (+4.0%), while spending declined on the same month last year in Wellington (-1.8%) and Auckland/Northland (-0.7%). Note: These figures reflect general market trends and should not be taken as a proxy for Worldline's market share or company earnings. The figures primarily reflect transactions undertaken within stores but also include some e-commerce transactions. The figures exclude transactions through Worldline undertaken by merchants outside the Core Retail sector (as defined by Statistics NZ). About Worldline in New Zealand We are New Zealand's leading payments innovator. We design, build and deliver payment solutions that help Kiwi business succeed. Whether you're looking for in store, online or mobile payment solutions or powerful business insights, Worldline is here to help with technology backed by experience. About Worldline Worldline [Euronext: WLN] helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payments technology, local expertise and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated a 4.6 billion euros revenue in 2024.
NZ Herald
5 days ago
- Science
- NZ Herald
On The Up: The Shear Space - wool pod earns Maddie Foote acclaim at Fieldays
The Shear Space creator, Maddie Foote of Iona College, got to show her invention to Prime Minister Christopher Luxon at Fieldays 2025. NZME has launched On The Up– a national campaign showcasing amazing stories of inspiration, success, courage and possibilities. Iona College is still buzzing from an incredible whirlwind Fieldays experience, where Year 13 Design Technology student Maddie Foote showcased her innovative project The Shear Space, to an appreciative audience.
RNZ News
17-06-2025
- Automotive
- RNZ News
IRD warns about misunderstanding fringe benefit tax
At the moment, work vehicles such as utes are only exempt from FBT on days when they are used for essential work purposes. Photo: Screenshot / Unsplash / RNZ Inland Revenue says it wants to clear up misunderstanding about the effect of proposed changes to fringe benefit tax (FBT), particularly when it comes to double cab utes. There was a warning this week that farmers buying expensive utes at Fieldays could be in for a shock if the FBT rules changed in line with proposals released earlier this year. But Inland Revenue deputy commissioner, policy, David Carrigan, said there were misunderstandings about the tax - including a myth that utes had been FBT-free. "When it comes to double cab utes, these are treated no differently to any other vehicle. Unless the use of the vehicle meets all the requirements for an exemption from FBT, then a double cab ute is, and always has been, subject to FBT. That is the current law," Carrigan said. "Work-related vehicles are only exempt from FBT if they meet certain requirements. This includes double cab utes." At the moment, work vehicles such as utes are only exempt from FBT on days when they are used for essential work purposes. He said what was proposed was not a change to that treatment, but to remove the necessity to count days when a vehicle was or was not available for private use. "The idea is to simplify FBT, not create additional obligations. If a business - including a farm - is not currently liable for FBT on a vehicle then it's unlikely they would become liable for FBT under any proposals taken forward." He said the aim of the FBT proposals was not to increase revenue but to reduce compliance costs of FBT. "The government has not made any final decisions in relation to potential changes to the FBT regime and Ministers are currently considering the feedback received from submitters on the Inland Revenue issues paper with a view to refining those proposals." Deloitte tax partner Robyn Walker. Photo: Supplied / Deloitte Deloitte tax partner Robyn Walker agreed there was "fake news" circulating about the FBT rules. She said there had historically been concerns about low levels of compliance with FBT. "This review essentially concluded that a lack of compliance with the existing laws (and lack of compliance by Inland Revenue) had the potential to erode the integrity of the tax system. "Essentially, if taxpayers think it is okay to not comply with FBT rules, they'll also start not complying with other tax laws." She said the idea that utes were completely exempt from FBT was long-standing but had never been the case. But under the proposals released earlier this year, a vehicle used for work purposes and generally only available for home to work travel and travelling to different worksites would be "category three" vehicle with a zero percent rate for FBT purposes. "Under the proposals, if there was occasional additional private use of the vehicle, this would be ignored." She said the changes also opened this category up to other vehicles such as small cars and electric vehicles. "There is a proposed rule that vehicles assigned to shareholder employees would not be able to be exempted from FBT if the vehicle has a cost of $80,000-plus. "However, for FBT purposes, you only look at the cost of the vehicle and you ignore any 'business accessories'. "There is a false narrative that if a ute is purchased and it is fitted with work-related gadgets that increase the total cost to above $80,000 that the vehicle is automatically subject to full FBT. This is incorrect." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
