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 […]
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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 […]
Read moreCOVID-19 WAGE SUBSIDY EXTENSION A Wage Subsidy Extension payment will be available to support employers, including sole traders, who are still significantly impacted by COVID-19 after the Wage Subsidy ends. The Wage Subsidy Extension will be available from 10 June 2020 until 1 September 2020 so employers can keep paying their employees. Applications open at […]
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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
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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 […]
Read moreThe Small Business Cashflow (Loan) Scheme (SBCS) has been introduced to support businesses and organisations struggling because of loss of actual or predicted revenue as a result of COVID-19. Businesses must have 50 or fewer full-time-equivalent employees to qualify. Applications are now open and are open until 12 June 2020. There are a number of […]
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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 […]
Read moreThe legislation was passed to bring into law the tax changes announced in mid-April as well as the Small Business cashflow loan scheme. Small Business cashflow Loan scheme The key features of the loan scheme are as follows: A loan of up to $100,000 to firms employing 50 or fewer full-time equivalent employees. The loan […]
Read moreThe Government has announced new relief measures to boost confidence and help small and medium-sized businesses get through the COVID-19 crisis. The package includes: a tax loss carry-back scheme changes to the tax loss continuity rules greater flexibility for taxpayers in respect of statutory tax deadlines measures to support commercial tenants and landlords, and further […]
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