The Short-Term Absence payment is for businesses (including self-employed) to help pay for workers who can’t work from home or attend work while they wait for the results of a Covid-19 test. To be eligible, workers need to be unable to work from home and need to miss work while waiting for their test results. There’s a one-off payment of $359 for each eligible worker. Employers or the self-employed can apply for… Read more
Ramp up Your Business with Xero Webinar Nobody goes into business with the intention of doing paperwork. Long days are made even longer by manual data entry, chasing up receipts, reconciling bank accounts, and following up customers for payment. How much time would you save if all of this was automated? With Xero, you can save time, reduce your stress levels, and get paid faster. You’ll gain valuable insight into… Read more
Interest limitation on residential investment property The Government has released draft legislative proposals to limit interest deductibility for residential property investments. From 1 October 2021: for properties acquired before 27 March 2021, interest deductions on loans will be phased out at 25% per year over 4 years, until 31 March 2025 for properties acquired after 27 March 2021, interest deductions will not be deductible (unless the property was acquired by… Read more
Wage Subsidy Question I have a client that is a shareholder employee of a company that she works part time at and also has a sole trader business that she works part time. Can the company claim for a wage subsidy as well as via the sole trader business? Answer Yes the wage subsidy can be claimed once by the company of which your client is an employee and once… Read more
3 Essential Tools for Business Success For us, business success means owners achieving financial, time and mind freedom. Whether you want more money to enjoy your desired lifestyle, more time for your family and friends, or less stress, there are three business tools that can help you achieve freedom. On Wednesday 20th October at 12pm, join us for our complimentary webinar, The 3 Essential Tools for Business Success, where you’ll: Discover the three most… Read more
Round 4 of Wage Subsidy The Wage Subsidy is open for a fourth round – if you have a drop of 40% or expect to it, there is support of $600 per week per full time employee and $359 per week per part time employee. Available until 14th October. The Resurgence Support Subsidy is also still open until mid-October. This is a one-off application We can help any of you… Read more
We’ve been getting quite a few questions from our clients during Level 4 lockdown about the responsibilities of employers. We’re not HR specialists or employment lawyers, so we don’t have all the answers. Luckily, the Ministry for Business Innovation and Employment (MBIE) has been busy setting out all the information you need. Three of the most commonly asked questions are: 1. Can I make employees take annual leave during lockdown?… Read more
Resurgence Support and Wage Subsidy FAQ’S Wage Subsidy Question I have a client that is a shareholder employee of a company that she works part time at and also has a sole trader business that she works part time. Can the company claim for a wage subsidy as well as via the sole trader business? Answer Yes the wage subsidy can be claimed once by the company of which your… Read more
COVID-19 resurgence support payments Here are the following Covid support payments available: 1. Wage Subsidy – drop of 40%, $600 per week per full time employee and $359 per week per part time employee. 2. Resurgence Support Payment – drop of 30%, being a RSP of $1500 plus $400 per full time equivalent. 3. Leave Support Scheme – for workers who must self-isolate while awaiting a test. $585.50 per full time… Read more
Alert Level 4 – again You will be well aware that we have gone into another level 4 lockdown. What does that mean in terms of our service to you? We are still hard at work on your accounts. All appointments will now be held by phone or Zoom – rest assured all Zoom appointments are secure using a password to log in. COVID-19 resurgence support payments In relation to… Read more
Message from Michelle for how to spend this next lockdown View the video here at Youtube Short-Term Absence Payment Launched Starting 9 February 2021, the Short-Term Absence Payment has become available for businesses and self-employed individuals to help them pay their employees who can’t work from home while they wait for their COVID-19 test result. The Short-Term Absence Payment is available for businesses, including self-employed people, to help pay their… Read more
We would love to work together to ensure you get the government support you need Thank you to those that have attended our Planning for Success workshops, they have been great. We have had 95% of attendees wanting to move on to the 2nd zoom workshop with extra coaching around the cashflow areas of their business. Now it’s your chance to join in and hear what has been so helpful… Read more
Business Finance Guarantee Scheme (BFGS) Launched As you know on 1st April the minister of Finance, released further details of the BFGS which forms part of a range of package reforms to support the NZ economy during the COVID-19 pandemic. Click below to see the full details. The banks have now all launched their applications forms. They have not yet given away any business loans despite over… Read more
For years we have been recommending smart payroll to our clients and we still do recommend this for those with companies or trusts who take drawings regularly. Now is a great time to try it out with this offer of 3 months free! If you are self employed you are not able to put yourself on wages. This is a good time to discuss setting up a company for the… Read more
The coronavirus outbreak is having a growing and significant impact on the New Zealand economy. The government has now announced a $12.1 billion relief package. We have summarised the details for you below and included links to the factsheets if you would like more information. There is a lot of details in those links so if you have questions please make sure to talk to us. We can help with… Read more
With all the news reports coming at us daily, it’s normal to feel concerned about what the likely impact of Covid 19 will have or the forecast recession? How long will it be, and how deep? For those who are feeling this uncertainty as a team yesterday we got together and brainstormed some solutions. Our aim here at Tax & Trust is to offer suggestions to you our clients, to… Read more