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August Newsletter

Changes to paid parental leave from 1 July 2020

From 1 July 2020, the duration of parental leave payments will extend from 22 weeks to 26 weeks and the maximum weekly rate for eligible parents will increase from $585.80 to $606.46 gross. The minimum payment rate for self-employed parents increases from $177.00 to $189.00 gross per week, which is equal to 10 hours of […]

Changes to in-work tax credit from July 1

Changes to the in-work tax credit (IWTC), which removes the requirement for working families to work a minimum number of hours, come in to effect next month. From 1 July, the IWTC will be available to eligible families who are not receiving an income-tested benefit or student allowance and have some income from paid work […]

2020 herd values for tax purposes

How to pay your tax

You can make payments to the Inland Revenue by: paying electronically paying by phone paying from overseas paying by instalments paying at Westpac Remember to include your IRD number as a reference. For more information: https://www.ird.govt.nz/managing-my-tax/make-a-payment/ways-of-paying

Budget 2020: Rebuilding Together

Summary of the key business investments: $4 billion business support package, including an extension of the Wage Subsidy Scheme $3 billion infrastructure investment package, and a sizable public housing programme to create jobs $1.6 billion trades and apprenticeships training package $1 billion environmental jobs package $3.3 billion new funding to strengthen core services including health […]

Agriculture Newsletter 8 May 2020

Drought Recovery Fund A new $500,000 fund will help farmers and growers prepare their businesses to recover from drought as the economy gets moving again, Agriculture Minister Damien O’Connor has announced. The 2020 Drought Recovery Advice Fund is to help farmers recover from the 2020 drought, and plan for future droughts.  It will pay for […]

Delay to CoverPlus Extra invoicing for three months

ACC acknowledge the difficult times being experienced by many businesses as a result of COVID-19 and have made the decision to delay CoverPlus Extra invoicing for three months. During this time CoverPlus Extra payment plans will be paused and they will not seek payment for outstanding balances. Rest assured all customers will remain covered at […]

Tax/money

If you are having difficulties or concerns about meeting your normal tax obligations due to the effects of COVID-19, Inland Revenue has a range of ways to help depending on your circumstances.   Tip 1:  Get in contact with your bank if you’re experiencing cash flow issues, especially in regard to loan repayments or lack […]

Employers – a timely reminder of your payday filing obligations in order to prevent unnecessary IR filing penalties, this link sets out a summary of the filing requirements.

You must file an employment information form every time you pay your employees, weekly or fortnightly. If you have multiple paydays, you must file an employment information form for each payday. For more information: https://www.ird.govt.nz/employing-staff/payday-filing