COVID-19: Temporary ‘Safe Harbour’ provisions for directors
The Government has recognised the impact COVID-19 has had on businesses. For this reason, the Government has proposed new temporary ‘Safe Harbour’ provisions into the Act, which will provide directors with protection if directors decide to continue t
COVID-19: What impact will recent travel restrictions have on your company’s tax residence?
COVID-19 and the various measures implemented to fight the pandemic have significantly disrupted how many taxpayers do business across the globe, including the ability for directors, management and staff to work and travel in the usual way.
One key way businesses can mitigate the challenge of COVID-19 is by undertaking a scenario analysis, to try and uncover a clearer picture of the way forward. We’ve answered the top questions that business leaders might have about starting that proces
COVID-19: Government introduces more cashflow support for businesses affected
The Government has announced a significant initiative to help small to medium sized businesses obtain much needed cashflow – the Small Business Cashflow Loan Scheme.
COVID-19: Employment tax updates for a remote workforce – 1 May 2020
While New Zealand has moved from being in Alert Level 4 to Alert Level 3, a considerable number of workers remain at home. It is worth considering any employment tax issues which can arise from these working conditions.
COVID-19: Loss carry-back rules– fine in theory, but watch for fishhooks
On 30 April, the Government fast-tracked new legislation to introduce further tax changes in response to the impact of the COVID-19 outbreak.
COVID-19: Practical information about complying with the Wage Subsidy Scheme and changes to the Essential Workers Leave Support Scheme
On 1 May 2020 the Essential Workers Leave Support Scheme is being expanded. We've broken down the most up to date information about the Leave Support Scheme and the Wage Subsidy Scheme.
There are existing tools available that can help your business recover from the effects that COVID-19 has had on the business environment. The Government has also recently announced a new tool; the Business Debt Hibernation Scheme.
COVID-19: The latest tax announcements - 15 April 2020
New announcements on the 15th April 2020 will see loss-making businesses get a tax boost and the Commissioner receiving more discretion - find out more in our blog article.
COVID-19: Reintroduction of tax depreciation on certain buildings
On 17 March 2020, the Government announced a package of measures to support businesses through the impact of COVID-19. One of the measures introduced was the reintroduction of tax depreciation on commercial and industrial buildings.