The New Zealand government has increased its Coronavirus support by another NZ$6.25 billion with the “Business Finance Guarantee” scheme.
It has been designed to provide short-term credit to help protect the solvency of small and medium-sized New Zealand businesses that have been affected by the Covid 19 outbreak.
As part of the business stimulus package for New Zealand businesses we have previously advised that wage subsidies of up to $585 are available for full-time workers working more than 20 hours per week and $385 per week for part-time workers working less than 20 hours per week.
But how do you treat them in your accounting system and what about tax?
The New Zealand government has released a list of what it considers to be “Essential Business” and therefore exempt from the lockdown.
Here is a list of essential services that can operate during the Coronavirus lockdowns:
As the impact of the Coronavirus continues to evolve in a way we simply couldn’t have predicted just a few short weeks ago, we wanted to reach out to update you on how we are responding to these new challenges at NZTax.com.au.
We are hearing from our clients that they need us more than ever to keep them updated on the New Zealand business environment, to keep them abreast of assistance and to help them do what needs to be done to get it.
Prime Minister Jacinda Ardern has announced that New Zealand will be in full lockdown for a period of 4 weeks.
New Zealand has expanded its wage subsidy by removing the cap of $150,000 for businesses. Previously that cap meant that only businesses with up to 21 employees will be covered.
These are difficult times. Communication is paramount but what you can share with others is subject to New Zealand’s Privacy Act.
Is an employee entitled to sick pay when they are in self-isolation?
“This is going to hurt”. That’s the message from New Zealand Prime Minister, Jacinda Ardern as the country prepares for the consequences of the Coronavirus outbreak.
The New Zealand government has announced that it is preparing to spend big in order to reduce the impact on the New Zealand economy.
There have been a number of announcements with regard to the tightening of New Zealand’s borders.
To date, these announcements have focused on the movement of people into New Zealand.
It’s that time of the year again when you’ll need to start gathering together your accounting and tax information for the year ended 31 March 2020.
Set out below is a list of items that will assist you with this process, and remind you of some of your tax obligations.