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Chartered Accountants

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

Impacts of overseas travel on your KiwiSaver

Posted on Nov 26, 2018 by admin

KiwiSaver members who go overseas for an extended period will not receive all the benefits their accounts usually give them. Find out what you are entitled to when you go away so you can make the right financial moves.

Contributions while you are away
Your contributions will automatically stop once you cease work in New Zealand and you may need to contact your KiwiSaver provider about this. However, you can make voluntary contributions at any time while you are away. Refer to KiwiSaver information on how to do this.

Benefits you are eligible for
You will not receive a member tax credit while you’re not living in New Zealand unless you are a:

Permanent departure from New Zealand
If you emigrate to countries other than Australia permanently, you can apply to withdraw your savings and close your KiwiSaver account after one year. Member tax credits you have received since joining will be returned to the Government, and you may keep any interest on the tax credits you have earned. You can leave your savings in a KiwiSaver account or transfer to an Australian complying superannuation scheme if you permanently emigrate to Australia.

For many years now Garry Hughes of BDS Hughes Chartered Accountancy and his team have provided us with an exceptional professional service. We have found Garry‘s knowledge in his field of taxation, business planning and financial matters of great value to us, along with providing us additional recommendations for improving our business strategies. We would recommend their friendly and professional services to anyone who is looking for an accountancy service that will improve their business performance.
Jane HandleyDirector Rug Doctor

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Heavy fines for lack of employment records

Posted on December 7, 2018 by BDS Hughes

Employers must keep complete and accurate records of their employees to avoid severe fines. Remain compliant with the Employment Relations Act 2000 and the Holidays Act 2003 and follow the checklist given below. As an employer you must: Be able to show you have paid your employees all minimum employment entitlements like the minimum wage rate and four weeks’ annual holidays Keep records with the name, age, address, and date employees started working, what their job entails, public holiday payments and tax declarations Keep records for seven years even if they have left Ensure all employees have complete and current […]

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21 Tamariki Ave, Orewa, Auckland

P: 09 426 2999 | F: 09 426 0812 | M: 021 790765
E: GARRY@BDSHUGHES.CO.NZ