Leave Support Scheme: The Leave Support Scheme is for businesses to help pay any employees who meet certain health criteria. IMPORTANT: If you apply for the Leave Support Scheme before 1pm on 21 August 2020 you have to meet a revenue test. The revenue test won’t apply after this time. Your business must also have … More COVID-19 | Leave Support Scheme & Resurgence Wage Subsidy
We’ve received a number of enquiries about the government backed loan and other related issues. The following might help navigate this COVID minefield!. 80% Government Backed Loan The 80% Government backed loan scheme has not been that successful, and if you’ve been reading the financial papers you will see that the amount borrowed under this … More COVID-19 | Government Loan Schemes
Looking for support and advice on HR, Employment Relations or restructuring? With all the change that has come about with Covid-19, we are aware that you may need to consider a range of options for your team to ensure the sustainability of your business. We are therefore introducing you to POD, a business advisory company … More COVID-19 | HR, Employment Relations & Restructuring Advice
We have received many questions regarding issues arising from COVID-19. We thought you might be wondering about these too so we’ve included the most common questions and their answers below. 1. Wage Subsidy: The links to apply for the wage subsidy from the government are: https://services.workandincome.govt.nz/ess/employer_applications/new https://services.workandincome.govt.nz/ess/trader_applications/new These forms are easy to complete, and can … More COVID-19 | FAQs for Employers & Self-Employed
IRD Phasing Out Cheque Payment Due to the reduced number of cheques now being used as a payment option, from 1st March 2020 Inland Revenue will no longer accept cheques where clients have an alternative method of payment option. Inland Revenue would prefer payments to be made using one of the following options: Direct Debit … More IRD Changes, Property Investment & Financing
Against the advice of many Accountants and Investment Groups the Government has ignored the fact that they cannot afford to provide the required residential rental housing stock and put another nail in the coffin for residential investors. Without private investors in the market how can they possibly expect that the NZ tax take can provide … More The new loss ring fencing. How will it affect you?
Becoming your own boss is definitely a rising trend and while there are many perks to working for yourself, there are also some downsides, such as the potential difficulty in getting a loan when you really need one. When you’re self-employed and apply for a loan, you can often be met by wary lenders. Typically … More Finding Finance When You’re Self-Employed
This is a topic that could be discussed all day! And I have read many of the reports and social commentary around it. At this stage CGT is merely a suggestion and guidelines to current government. Understandably, general public reactions have so far been very negative and I agree with this sentiment. Why tax small … More Capital Gains Tax (CGT) and the Final Tax Working Group Report
Finally, after months have passed since the Issues paper was released for submissions, the Government has released the Bill that is set to ring fence residential property losses. If passed this will probably take place from 1stApril 2019. The law is predicted to raise a further $190 million annually from the property sector. Alarmingly, the government … More Ring Fencing of Rental Losses and the Significant Impact on Residential Investor Clients
Losses arising from rental properties will not be able to be offset against the taxpayer’s other income. These losses often arise due to interest payable on mortgages on the rental property. … More Rental Property Losses may soon be Ring Fenced?