NEW ZEALAND GAZETTE, No. 143

25 SEPTEMBER 2008

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:

• the significant estimates and judgements made by the trustees in the preparation of the financial statements;
• whether the accounting policies are appropriate to the trust’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with New Zealand Auditing Standards. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to obtain reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements.

Our firm has also provided tax advisory services to the trust in respect of the year ended 31 March 2008. These services have not impaired our independence as auditors of the trust. The firm has no other relationship with, or interest in, the trust.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been kept by the trust so far as appears from our examination of those records;
• the financial statements:
  – comply with New Zealand generally accepted accounting practice; and
  – give a true and fair view of the financial position of trust as at 31 March 2008 and the results of its operations for the year ended on that date.

Our audit was completed on 26 May 2008 and our unqualified opinion is expressed as at that date.

KPMG, Auckland.

A copy of the list of all distributions of income and capital approved by the ASB Community Trust is available on request from ASB Community Trust, PO Box 68048, Newton, Auckland.

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Deer Industry New Zealand

Deer Industry New Zealand Regulations 2004

Deer Industry New Zealand Levy Rates

1. Deer Industry New Zealand (DINZ) is a marketing authority established by Regulation 4 of the Deer Industry New Zealand Regulations 2004.

2. DINZ levy

2.1 Under Regulation 18(1) of the Deer Industry New Zealand Regulations 2004, DINZ fixes the rates of DINZ levy (which levy rates are exclusive of goods and services tax imposed by the Goods and Services Tax Act 1985) as follows:

(a) On venison derived from deer, other than fallow deer, slaughtered in deer slaughtering premises, on the basis of hot clean carcass weight after removal of condemned parts:

  16 cents (sixteen cents) per kilogram.

(b) On venison derived from each fallow deer slaughtered in deer slaughtering premises, on the basis of hot clean carcass weight after removal of condemned parts:

  11 cents (eleven cents) per kilogram.

(c) On velvet from deer other than fallow deer received at a packing house for processing or packing, on a frozen weight basis:

  315 cents (three hundred and fifteen cents) per kilogram.

(d) On velvet from fallow deer received at a packing house for processing or packing, on a frozen weight basis:

  80 cents (eighty cents) per kilogram.

2.2 For the purpose of paragraphs 2.1 (a) and 2.1 (b) above, hot clean carcass weight is defined in the DeerQA Venison Processors Industry Agreed Standards (dated 21 July 2003) at Standard IAS-3: Venison Standard Carcass. This document is available on request from Deer Industry New Zealand by telephone (04) 473 4500 or mail PO Box 10702, Wellington.

2.3 The levy rates described in paragraphs 2.1 (a) and 2.1 (b) above are payable by the owner at the time of slaughter. However, where the venison is sold at the time of slaughter to a venison processor or venison marketer (as defined in Regulation 3 of the DINZ Regulations 2004):

(a) the portion of the levy on such venison that is allocated to the Animal Health Board (as described in paragraph 9.2 below) shall remain payable by the owner at the time of slaughter;

(b) the remainder of the levy payable on such venison shall be payable in equal shares by the owner at the time of slaughter and the venison processor or venison marketer.

2.4 No levy is payable on velvet when the value of the applicable velvet grade, as defined by the Industry Agreed Grading Guidelines, is less than or equal to $15.00/kg (GST exclusive).

2.5 If the Deer Slaughtering Premises (“DSP”) or Packing House (“PH”) (formerly Game Packing House) fails to keep accurate records relating to the DINZ levy or to file accurate returns relating to the DINZ levy, then the levy payable will be assessed by DINZ with reference to such information as DINZ considers fit.

3. DSPs are not required to collect levies on Tb reactors but will be required to report the number of reactor deer slaughtered to DINZ in their monthly returns. The levy will be waived for those Tb reactors which are identified with an official reactor tag and where they arrive at the DSP accompanied by an official permit to move.

4. A nil rate of levy applies to any farmed deer or killed game deer carcasses which are wholly condemned for any reason following slaughter or receipt into a PH.

5. No levy is payable in respect of any one farmed deer carcass or piece of velvet more than once.