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Chartered Accountants

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

Navigating through a crisis

Posted on Sep 23, 2015 by editor

No matter how hard a business works to avoid them, disasters can happen. When it comes to managing them, some businesses may simply bury their heads in the sand and hope that nothing bad will happen. However, it is crucial that businesses are able to steer themselves through a crisis and be able to come out on top. Here’s a brief guide on how to to this: Look and listen Regularly reviewing your business’s environment and listening to what employees, customers and clients say about the business will help keep owners in the loop regarding their business’s internal and external […]

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Etiquette tips for business lunches

Posted on Sep 23, 2015 by editor

Having lunch with a potential client, investor or employee can be a great way to make a good impression while taking care of business matters at the same time. However, there are a lot of etiquette considerations, some of them extremely subtle, that you should be aware of. Here are some tips for conducting yourself at a business lunch: -When extending the invitation you should always offer your guest a couple of different options for time and location -Arrive a little early to make sure that your table isn’t in an overly crowded or busy area; this can inhibit productive […]

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Guide to successful business borrowing

Posted on Sep 15, 2015 by editor

It is important for businesses to maintain a good relationship with their bank in order to safeguard their future access to funds. Prepare a strong business plan This is one of the first steps to ensure that the bank will identify it as a low risk business and therefore someone they are willing to give funds to. A solid business plan highlights the viability of the business, information about the experience and success of the owners and managers, expenses which the loan will cover,as well as detailed sales expectations. Establishing a personal relationship Over time, an owner establishes key contacts […]

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Importance of keeping up with your employees

Posted on Sep 15, 2015 by editor

When you are kept busy with the ups and downs of running a business, it can be easy to fall out of touch with your employees. While this doesn’t necessarily bring about any immediate repercussions, not keeping up with employees can be quite costly in the long run, in terms of employee engagement, work ethic and job satisfaction. In order to retain hard-working employees, employers should consider the following issues and how they might address them: Employees keep an eye out for new jobs Even though an employee may appear happy in their current position, the chances are that they […]

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Preparation tips for your next business presentation

Posted on Sep 15, 2015 by editor

Making a memorable business presentation can be a game changer in almost every profession. A presentation that resonates with an audience has the power to completely change the way an investor or potential partner sees your business. Spending enough time preparing for a presentation should not be underestimated. Here are three tips to get the ball rolling when preparing for your next business presentation: Prepare for difficult questions You should be prepared for questions that may come up during your presentation that derail the presentation or undermine your goal. Consider the objections an audience might have, or the questions they […]

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Redundancy payments

Posted on Sep 8, 2015 by editor

Redundancy arises in the workplace when an employee’s job no longer needs to be performed. It usually occurs due to the outsourcing of staff or cutting staff numbers and assigning the duties involved in the role equally amongst other staff members. It may also occur due to a business ceasing to make a line of product service. Over time, there has been an increase in employee expectations of receiving a lump sum (over and above pay instead of notice and any leave entitlements ) when they are made redundant. While this right was limited to award employees or those under […]

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How long should you keep your documents for?

Posted on Sep 8, 2015 by editor

Since different rules apply to different types of documents, the length of time a business needs to retain documents depends on what the documents are. Some businesses may need to keep documents indefinitely. However, most business owners stick to the seven year principle and keep documents for seven years starting from the date on which they were created. This principle comes from various law requirements that require businesses to retain their financial records for seven years after the transactions in the financial records have been completed. Retaining documents for seven years is a good starting point for most businesses. However, […]

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Kiwisaver options for over 65s

Posted on Sep 8, 2015 by editor

A recent survey has revealed that one in four New Zealanders who are approaching retirement are unsure of what to do with their KiwiSaver funds when they turn 65. A quarter of those surveyed plan to take out their lump sum when they reach 65, and 10 per cent say that they’d rather spend their money instead of reinvesting it. The survey also showed that those with a financial plan or an understanding of the kind of income they would need (on top of their superannuation) were likely to choose diversified investments with a higher allocation to growth assets. Upon […]

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Managing your tax obligations

Posted on Sep 8, 2015 by editor

Taxpayers who believe that there is something wrong with their tax return or have made a mistake on a return should contact the Inland Revenue to make a voluntary disclosure. Both individuals and businesses can make voluntary disclosures. Lodging an incorrect tax return can result in heavy penalties or interest charges from the IRD. To avoid such charges, taxpayers need to notify the IRD of an incorrect tax return, before they find out some other way. Voluntary disclosures can be quite beneficial assuming the taxpayer makes a complete disclosure before being notified of a pending tax audit. The benefits include […]

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Paying attention to the buying process

Posted on Sep 4, 2015 by editor

Understanding customer behaviour in regards to purchasing products and services is crucial to improving a business’s marketing strategy and increasing its sales and profits. And while business marketing techniques and strategies have changed over time, the decision-making process customers undertake before making a purchase has generally remained the same. Understanding how this decision-making process applies to your business and its customers, can help business owners create a marketing strategy that provides customers with the right information at the right time. Stage 1: Problem identification and evaluation No matter the industry or business type, the buying process always begins in the […]

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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

Introduction of Best Start

Posted on July 5, 2018 by BDS Hughes

From 1 July 2018, eligible parents who have a baby born on or after 1 July 2018 will receive a Best Start payment of $60 per child. Eligible individuals will receive $60 a week until the baby turns one regardless of household income. For those with a household income of less than $79,000, you will receive $60 a week until the child turns three. The eligibility requirements are as follows: – You must be the principal caregiver of the child – You must be a New Zealand resident or citizen and have been in New Zealand for a continuous period […]

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