COVID-19 UPDATES

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2020 Budget - Highlights

The Government's response to the COVID-19 pandemic plays a big part in the 2020 Budget. This year's budget focuses on injecting funds into the economy to create and sustain employment. As Finance Minister Grant Robertson states "this budget is about jobs". The budget has a...
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Removal of LVR Restrictions - what does it mean?

On 30 April the RBNZ announced it was removing all LVR (Loan to Value Ratio) restrictions it had been imposing on NZ banks. First, let’s refresh on what the restrictions were prior to this announcement: RBNZ put “speed limits” on the amount of “low equity” housing...
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Recent Government Announcement

This afternoon Grant Robertson announced the Government will provide interest-free loans for a year to small businesses impacted by COVID-19, to support their immediate cashflow needs and meet fixed costs. *Key takeaways:* The Small Business Cashflow Loan Scheme will provide assistance of up to $100,000 to...
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Government support for SMEs

The COVID-19 crisis has had a significant impact on small and medium-sized enterprises (SMEs). In recognition of the challenges facing business, the Government has already introduced a wide range of measures to assist businesses through the crisis. These include the wage subsidy scheme, the Business...
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Business Loan Scheme

Business Loan Scheme In these extraordinary times we find ourselves living through, many businesses would have seen the government’s recent announcement as welcome news and hopefully, it provided additional confidence that your business can weather the storm that is COVID-19. *Here is a summary of what...
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Mortgage Holiday Scheme

We have been amazed by the government’s support & response to the current COVID-19 situation. In our view, the most significant assistance to New Zealanders was the announcement of this scheme. *Here is what you need to know about the scheme:* The scheme allows...
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COVID-19 Wage Subsidy

We have spoken to many of our clients over the last week and a number of applications have already been made and paid. If you need help with this please do contact us. It is important to remember the subsidy is to help...
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Tax Payments & Due Dates

We are aware that a number of you are concerned about the timing of tax payments and if there are any concessions that the IRD are providing. The IRD has recently released the following regarding the late payment of taxes due on or after...
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Government Announcement

Here's what you need to know about the recent government update that was made yesterday.  There has been a major announcement in regard to two schemes to take the pressure off mortgage holders and to assist SME’s obtain finance. *Mortgage Holiday Scheme* The Government & Banks...
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Government Announcement

*Finance Minister Grant Robertson has announced:* the business support package for Covid-19 is now valued at $9.3 billion Self-employed people and businesses that are less than a year old will also now be eligible for help Cabinet will remove the...