Insights & News
Tax Changes to Support Businesses: The Temporary Loss Carry-back Scheme
What is the scheme? Businesses that are expecting to make a loss in 2019/20 or the 2020/21 financial year will be able to estimate the loss and use it offset profits in the past year. The scheme introduces the concept of offset years, which are the pair of years...
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Govt. Announces Small Business Cash-flow Scheme
The government has announced a plan to provide interest free loans for a year to small businesses which have been impacted by the COVID-19 to help support their cash-flow needs and fixed costs as well. The scheme will provide an assistance of up to $100,000 to firms...
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Further Tax Changes to Help SMEs
There’s no doubt that the recent pandemic has had a huge impact on small and medium sized businesses in New Zealand. In addition to the tax changes that were previously announced, today the Government has introduced a few more tax measures that aim to help businesses...
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Economic Relief Packages Released by the New Zealand Government in Response to COVID-19
The New Zealand government has worked hard towards releasing certain economic packages to help businesses in and around New Zealand to sustain themselves and to help in balancing the economic distress and the financial strain the country is currently experiencing as a...
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What is the Wage Subsidy Scheme Developed by the Government and How Can You Apply for it?
What is the Wage Subsidy Scheme? Last week, finance minister Grant Robertson announced a wage subsidy scheme which will be available for all employers that have been significantly impacted by COVID-19. A few updates have been made to the scheme since it was announced...
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Working From Home: Here’s How to Make it ‘Work’
With the outbreak of COVID-19 internationally, and a lockdown ensuing March, 25th 2020, businesses around New Zealand, will have no option but to work from home. It’s key at this point in time to activate the social distancing measures laid out by the government to...
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Upcoming Tax Changes In The Wake of COVID-19
The Government has just announced a $12.1 billion dollar response package in the wake of the Coronovirus pandemic with the economic implications it’s slated to have. As part of this package, the government has also announced tax changes that are designed to help small...
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Your Checklist to Keep Tax Time Low Stress
The tax season is just around the corner and we all know how gruelling it can be sometimes. With a lot of businesses running around till the last minute to get their paperwork in place, this period can get extremely stressful. Keeping that in mind here are few things...
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The New Kilometre Rate for Claiming Motor Vehicle Expenses
Are you an employee who frequently uses his/ her car for business expenses? We’re going to be outlining the process for claiming tax on your work vehicle expenses. Here are some important points which you need to consider: If you’re using a vehicle for business...
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