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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Implementing business strategies

Posted on Mar 31, 2015 by editor

Many business owners have fantastic ideas about how to improve and grow. In order for these ideas to become a reality, they first need to be translated into a strategy. However, a strategy is only ever as strong as its implementation is effective. Here are our top tips for making sure that your strategy doesn’t get lost in translation: 1. Break it up into steps: Plan out each stage of strategic execution and make sure that you have a realistic timeframe to complete each step. It is also important to ensure that each step is a logical progression from the […]

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Mobile marketing

Posted on Mar 19, 2015 by editor

Mobile marketing is a very important facet of a business’s online presence. However, optimising websites for mobile access and promoting one’s business on location and review based mobile sites is something that often goes overlooked in a marketing plan. Here are a few tips to get your mobile marketing up and running: Make sure that your website is responsive: A lot of business owners don’t realise that a great website with excellent functionality will not necessarily work on a mobile phone or tablet. In order to be optimised for different sized screens, a website needs to be responsive. Ensure that […]

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Catching up on your Kiwisaver

Posted on Mar 13, 2015 by editor

There are a lot of circumstances that can result in your Kiwisaver nest egg being a little smaller than you had anticipated. It may have been necessary for you to reduce your contributions for a little while, or take a break from Kiwisaver entirely. A lot of people also opt out of Kiwisaver and then decide that they would like to rejoin. The good news is that there are actions that you can take to catch your Kiwisaver account up to where it should be: -Choose a higher level of contributions: You have the choice to make 3%, 4% or […]

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Think carefully before you fall behind on your tax

Posted on Mar 13, 2015 by editor

Businesses that do not pay enough tax at provisional tax dates throughout the year may be charged interest on the outstanding amount. The current rate of interest that is charged by IRD is 8.89% per annum. If you have the available cashflow, it is highly advisable to meet your tax obligations on time. Nobody wants to pay more on their tax bill than is strictly necessary. However, if your business is having cashflow issues, IRD can be a cost-effective source of unsecured finance. After all, it can be difficult to obtain additional lines of credit from a financial institution at […]

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Joe Hockey flags potential for allowing first home buyers to access superannuation for deposit

Posted on Mar 11, 2015 by editor

Joe Hockey flags potential for allowing first home buyers to access superannuation for deposit Following the release of the 2015 Intergenerational Report, Federal Treasurer Joe Hockey has raised the possibility of allowing first home buyers to access their superannuation. The suggestion has sparked fierce debate amongst industry stakeholders and experts. Some parties argue that this would add extra fuel to Australia’s red-hot property market. Critics are also suggesting that withdrawing a home deposit early on in life could cost retirement nest eggs dearly, with estimates going up to $140 000. On the other hand, fans of the early super withdrawal […]

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ATO releases final ruling on tax exemption requirements for not-for-profits

Posted on Mar 11, 2015 by editor

In 2013, there were a number of amendments made to the conditions that are necessary for organisations to be awarded tax exempt status. Earlier this month, the ATO has released two ruling that help to clarify some of the murky areas that have emerged. The two new conditions that not for profits must meet are: 1. Adhering to all substantive requirements in it governing rules, and; 2. Applying all income and assets towards the sole purpose for which it was established. Following an ongoing dialogue with stakeholders from the NFP sector, the ATO has adopted many suggestions relating to the […]

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Choosing a bank account

Posted on Mar 10, 2015 by editor

Differentiating between bank accounts can be a tedious task, and many people will simply choose an institution that they are familiar with. There is, of course, a lot to be said for trusting your financial institution. Furthermore, you may be able to bundle your new account with existing ones to get a discount or some form of loyalty bonus. However, you should always do your homework before settling with a banking product. Incrementally higher fees or lower interest rates can make a significant difference to your savings over time. Here are three things you should look when opening a new […]

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Improving business productivity

Posted on Mar 10, 2015 by editor

The easiest way to improve business productivity is to empower your staff to be more efficient and enthusiastic in their approach to work. If every staff member can make an improvement in their area, the overall output of your business will benefit. Here are our top tips for helping your staff to improve their performance: 1. Encourage planning: The more that people plan out their time and schedule tasks, the more likely they will be to identify opportunities for improving efficiency. 2. Schedule meetings at convenient times: If you are scheduling meeting that conflict with people’s workflow, you may actually […]

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Saving money on your energy bills

Posted on Mar 5, 2015 by editor

Energy bills are a significant expense for small businesses, so cutting back on your usage can be great for your bottom line. Improving your energy efficiency is also great for the environment, which presents an opportunity to connect with customers on an issue that is increasingly important to the public. Here are our top tips for saving on your energy bills – Buy energy efficient appliances -Turn your appliances off at the wall (an estimated 10% of electricity bills is due to appliances that are in standby mode) -Investigate solar panels and rainwater systems -Discuss the need to reduce energy […]

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Chris and I would love to write this letter of reference. As business owners for 34 years we know how crucial it is to have the right professional people supporting you.Garry and Helen and their team at BDS Hughes have provided us with their accounting expertise for approximately 25 of those 34 years. Garry’s Business Development Services has taken us from small town business owners and grown us into a company capable of going nationwide and internationally with our products and services. His business acumen and professionalism has provided us with all aspects of accountancy services and financial support and advice. With his team he has given us very sound and timely training, keeping us on track through the highs and lows each year brings. As an ongoing family-based business, we have had the challenge of staying focused and looking to the future for all involved, our business team and family. Business planning and mentoring has allowed us to keep up-to-date and moving forward as well as introducing a succession plan. Garry and Helen share similar family values and know the challenges of fitting work and family time into busy and demanding schedules. We highly value the professional relationship we have built with them over these past years and know we have a lasting friendship as well.
Chris & Shirley HawkingsCEO and COLMad Supporters of Waikato Rugby

Latest news

Everything you need to know about payday filing

Posted on September 24, 2018 by BDS Hughes

From 1 April 2019 employers must comply with the new payday filing scheme. The due date for employer deductions filing and payment remains the same as the 20th of the month. Employers must: File employment information every payday instead of an Employer monthly schedule Provide new and departing employees’ address information, and their date of birth- if they have provided it to you File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50 000 or more. How to payday file Employers must Include employment information (and correct a file), employee details and employer deductions. It […]

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