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Chartered Accountants

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

Business tax bill is now law

Posted on Apr 12, 2017 by editor

The Taxation (Business Tax, Exchange of information, and Remedial Matters) Act 2017 received Royal assent on 21 February 2017.

The new legislation focuses on changes to business taxation to make tax simpler. From 1 April 2017, the threshold for self-correction of errors under section 113A of the Tax Administration Act 1994 has increased from $500 to $1000; the use-of-money interest will be reduced or removed for the vast majority of business taxpayers; and most RWT exemption certificates can now be issued for more than one year.

For the 2017-18 and later income years:

From 1 April 2018, the introduction of the accounting income method will give smaller businesses a new pay-as-you-go option for provisional tax. The accounting income method will allow small taxpayers to use their accounting software to calculate and pay their provisional tax, taking the guesswork out of calculating provisional tax.

We have been with BDS Hughes Accountants nearly 5 years. Without their knowledge and forthright suggestions we would not been able to experience our high level of success. We are comfortable with the working relationship and ease with which they are able to communicate with us. As we as the normal accountancy service, Garry advised us on Xero accounting and taught us to uses the program in plain simple English. We can say only that we have had nothing but exceptional service and the advise we have received has been correct and perfect for our business, which is why i would not hesitate to recommend their services.
Wendy EvansDirectorThe Roof & Brick Shoppe

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Claiming expenses on work-related trips

Posted on December 21, 2017 by BDS Hughes

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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