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Chartered Accountants

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

How to avoid the holiday slump

Posted on Dec 21, 2017 by admin

The summer holidays may be a period of increased sales for some businesses, but for many, it can be a quiet time with a heavily reduced cash flow. Staying ahead financially, if you are the latter, can be difficult which is why you should consider the following: Use it to your advantage A lull in sales does not have to be a negative, you can use it to your advantage. You can use the quiet time to organise your administration and get everything in order for the New Year. Revising the books and taking care of any financial obligations that […]

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Tips for a successful New Year

Posted on Dec 21, 2017 by admin

Cultivating the right skills, practices and mindsets are pivotal to success as an entrepreneur. Consider these three tips for becoming more successful in 2018: Network right Successful entrepreneurs cannot deny the importance of networking. Networking helps to establish more connections, build and strengthen your business, and find new opportunities. The advantage of networking is that is only as difficult as you make it. Attending every networking event in your industry is not feasible, but sending a cold email or reaching out to someone via LinkedIn is. The more you familiarise yourself with the world of networking, the easier it becomes. […]

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Claiming expenses on work-related trips

Posted on Dec 21, 2017 by admin

When travelling for business or paying for employee travel there are many daily expenses that can be claimed. Generally, you can claim for flights, taxis (or mileage if you use your own car), accommodation, meals and snacks when you are away from home on business travel. For work-related meetings, conferences or training courses that require an overnight stay, employers can claim the cost of accommodation. If an employee is working away from home for an extended period, you can claim for accommodation or any accommodation allowance paid providing it is for a period of no more than two years (or […]

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Getting out of small business debt

Posted on Dec 15, 2017 by admin

Managing debt in your small business is essential to maintaining the financial health of your business as well as preventing bankruptcy. Consider the following tips to ensure your small business debts do not spiral out of control: Reshuffle or remove expenses Reviewing your expenses is one of the first steps to take when tackling debt. Look at the costs you can cut out and find alternative solutions. Whether this means cancelling unnecessary subscriptions, getting rid of expensive systems or selling assets such as a company car. If you cannot completely cut out costs plan to delay them. For example, take […]

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Managing work-life balance

Posted on Dec 15, 2017 by admin

Maintaining a healthy work-life balance may seem impossible as a business owner, but it is achievable, if not, necessary in running a successful business. Not carving out time and space to enjoy your personal life, such as spending time with loved ones, exercising, travelling or enjoying your hobbies, can have a negative impact on your stress levels, ability to concentrate, and may even damage your relationships. Consider the following tips to achieve a better work-life balance: Delegate Overcommitting is a surefire way to add unnecessary pressure. Overscheduling your day, saying ‘yes’ to everything, and fearing delegation will see you lose […]

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Using technology in your small business

Posted on Dec 15, 2017 by admin

If you haven’t already been sold by the benefits of using technology to assist your small business, it’s time to seriously consider the negative impact this could be having on your bottom line. Consider the following: Marketing Online marketing is a major component of business marketing today. Through using technology to enhance your marketing, you can drive profit. Technology allows you to market on social media and interact directly with potentially millions of clients at once while applying minimal time and effort. It also provides the business with exposure that on a greater scale than possible if technology were not […]

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Celebrating Christmas in your office

Posted on Dec 7, 2017 by admin

Christmas can be a very exciting time for many, and it can also be the dreaded season for others. Consider the following tips for celebrating Christmas in style, to ensure that all your staff get the most out of this period. Office Christmas party Holding a work Christmas party can be risky, particularly if alcohol is provided. People can take advantage of this and can see you and the business liable should something go wrong. For many employees, attending a Christmas party, especially one outside of business hours, can be quite a hassle. The safest and easiest option to have […]

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Taking risks in business

Posted on Dec 7, 2017 by admin

Risk taking is a key skill for entrepreneurs to acquire and perfect. Not taking (or mitigating) risks can see your business stagnate, or worse, plummet. Many business opportunities have an element of risk – whether it is a financial risk or a competitive risk – the result may or may not pay off. However, taking these risks is the only way to grow and strengthen your business. Consider the following tips on taking business risks: Calculate risks Calculated risks are those that are informed and backed by information and knowledge. Assessing information before taking a risk is important in deciding […]

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NZ Super and Veteran’s Pension recipients and overseas travel

Posted on Dec 7, 2017 by admin

For those who receive NZ Super or the Veteran’s Pension, travelling overseas may have implications on these payments. If you travel overseas for more than 26 weeks and are not residing in an overseas country, you will need to pay New Zealand tax on the payments receive, provided you receive one of the two payments without tax deducted prior to your travels. To do this correctly and remain compliant under regulations stipulating by the Inland Revenue Department, you will need to file an Individual tax return (IR3) as you have received income that has not been taxed at source. This […]

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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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