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.
COVID-19: Summary of the Wage Subsidy Scheme and Essential Workers Leave Support Scheme
Since first being introduced on 17 March 2020, the Wage Subsidy Scheme has undergone a number of transformations including changes and refinements to the scheme. In this article, we summarise the key features of the Wage Subsidy Scheme and the newly
COVID-19: Fringe Benefit Tax and employment considerations
As a result of the lockdown measures the Government has put in place to fight the battle against COVID-19, there are a number of issues arising due to a significant proportion of employees now either working from home or unable to work due to the Ale
COVID-19: Cross-border workers and tax considerations
The COVID-19 Level 4 Alert lockdown has caused uncertainty in many areas of tax, including the taxation and tax residency of individuals who are now highly restricted in their ability to travel internationally to and from New Zealand.
The recently enacted COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020 allows for broader refundability of R&D tax credits for loss making businesses conducting R&D.