Today marks the first day of the 2023 financial year, so happy New Year! With the advent of modern accounting software, the ‘end of the financial year’ isn’t the palaver that it once was and now tends to pass relatively uneventfully. But one of the downsides of this is that some of the beneficial disciplines […]
New financial support available for business and End of Year
New financial support available for business The government has announced further financial support for businesses affected by Covid-19. Covid-19 Support Payment The first is the Covid-19 Support Payment. This is a fortnightly payment of $4,000 + $400 per employee. There are a number of criteria, but the key financial metric is a 40% drop in […]
Covid and The Workplace – Employers’ Responsibility?
If a staff member has to self-isolate, are they entitled to sick pay? Can you ask for proof? Are there subsidies available if you have to stand staff down? What are employers responsibilities around Covid and the workplace? Covid-19 adds complexity to an already complex subject at a time where a number of small and […]
Back to Red
And so it happens, NZ finds itself in Alert Level Red. Perhaps it is because we are all getting used to living with Covid, but it seems that there has been less information for businesses coming out from government agencies this time around. Generally speaking, businesses don’t like uncertainty, and we seem to be heading […]
Support for Auckland based small business, house prices and heading into the festive season
A month or so back, it was announced that there would be support offered for small to mid-sized Auckland based businesses for assistance with planning and implementation. We think this is a great initiative from the government because: 1) the operating environment continues to be very unpredictable and changeable, 2) small businesses get very little […]
All the interest in interest rates
If you’ve got a mortgage or other significant debt, the talk of increasing interest rates may have caught your attention. So, what’s going on? Surely with all this freshly printed money floating around, a cautious reserve bank, and a good chunk of the nation in lockdown, rates shouldn’t be racing north just yet? One of […]
A great time to be grateful
If you have been paying attention to any sort of media over recent weeks, you’d think that the world is going to hell in a hand-basket. It seems the only news is bad news, all doom and gloom. And as a nation, we appear increasingly short tempered and divided. However, by many metrics, there has […]
Next round of business support measures announced
Today saw the next iteration of support measures for businesses announced. The announcements were scant on details, but we expect that will be released over the coming week to 10 days. Here is a very brief summary of our take: The Resurgence Support Payment (the one that IRD administers) will be doubled, meaning the new […]
Support for business while in lockdown?
Just in case you missed it… Auckland is still in lockdown. Many of us are itching to get out and about a bit more, or for parents, get kids back to school. But it looks likely that we’re going to be living with some form of restrictions in place for a wee while yet. If […]
Tax on Residential Rental Property
Tax on residential rental property It’s been a long time coming, but there has finally been some guidance released about the new tax rules on residential rental property. At this stage, they are still just proposals and are subject to change, but a couple of key points: If you purchased a residential rental property BEFORE […]