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:

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.

Inland Revenue has issued a new statement to assist in determining the deductibility for New Zealand income tax purposes when costs are incurred in relocating employees to a distant workplace.

This may also address the common question posed by Australian-controlled New Zealand companies where Australian residents are sent to carry out work in New Zealand.

Inland Revenue has announced that tax relief and income assistance are available to people affected by the downturn in business in New Zealand as a result of the outbreak of Coronavirus COVID-19.

They have announced a range of ways to help depending on a person’s circumstances.

If you supply telecommunications tools to your New Zealand employees and pay for Internet plans you should be mindful of an announcement by Inland Revenue with regard to income tax deductibility of phones and phone plans.

Unlike in Australia, there is no opportunity to salary sacrifice in New Zealand.