Current @ July 2020
TAANZ subscriptions.
Membership subscriptions for all members and brokers have been suspended for the forthcoming financial year.
The NZ government has provided a range of measures to assist members.
Wage subsidy.
Here you will find information around workplace preparedness, Wage Subsidy Scheme, changes to an employee’s work arrangements, and essential workers and businesses.
https://www.employment.govt.nz/leave-and-holidays/other-types-of-leave/coronavirus-workplace/
Apply for the subsidy here
https://www.workandincome.govt.nz/products/a-z-benefits/covid-19-support.html#null
Tax loss carry back scheme.
Businesses expecting to make a loss in either the 2020 year or the 2021 year can use that loss to offset profits they made the year before. In other words, they can carry the loss back one year to the preceding income year. This can be done before the loss year return is filed.
Provisional Tax threshold changes
The increased provisional tax threshold from $2,500 to $5,000 for the 2021 and future tax years may mean that some taxpayers no longer have to pay provisional tax.
https://www.ird.govt.nz/covid-19/business-and-organisations/provisional-tax
Information for tenants and landlords
Help with rent disputes – temporary amendments to the property law act may help.
Tenancy Services guidance
https://www.tenancy.govt.nz/rent-bond-and-bills/rent/guidance-for-discussion/
More information here
ACC has delayed all invoicing by three months effective July.
Find out more here
The Small business cash flow loan scheme (SBCS) will provide government loans for businesses to support their cash flow needs. Find out about eligibility and how to apply. (closed July 24th)
https://www.business.govt.nz/covid-19/cash-flow-loans-and-support/