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Covid-19 Business Support - Applications for third payment 'open'

A 3rd payment under the RSP scheme is available to eligible businesses and organisations which experience a 30% decline in revenue due to the increased alert levels, for the period starting 1 October 2021 and ending immediately before all areas of New Zealand return to alert level 1. Applications for this payment opened on 8 October....

October 18, 2021

Business Asset Ruling - Tightened (Inland Revenue)

The rules for how business assets are valued, when they are sold as a bundle, is being tightened.These new Purchase Price Allocation (PPA) rules, which come in to force on 1 July, apply to the sale of assets such as commercial property, forestry land or a business.Business asset sales are a mix of taxable assets, depreciable assets like plant or machinery, and non-taxable assets like business goodwill.Generally, if the allocation includes a higher proportion of taxable and depreciable assets the...

September 27, 2021

Covid-19 Business Support - Applications for second payment 'open'

Applications are open for the 2nd Resurgence Support Payment.Businesses and organisations can apply for the second payment even if they have received the 1st payment. Applications for both payments will stay open until 1 month after the whole of Aotearoa New Zealand returns to alert level 1.Businesses will need to show a 30% or more drop in revenue in a 7-day period from 8 September until immediately before all of New Zealand returns to Alert Level 1 compared to a typical 7-day period in th...

September 27, 2021

Covid-19

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August 27, 2021

Covid-19 Business Update (August 2021)

The Wage Subsidy Scheme (WSS).  The Wage Subsidy will be available to help eligible businesses throughout New Zealand continue paying staff and protecting jobs.  To reflect increased wage costs, the payments have been increased to $600 for full-time employees and to $359 for part-time employees. This will be open to applications from 9am on Friday 20 August 2021, with applications initially open for two weeks.  Please Note: If you qualify for the wage subsidy and apply for it...

August 26, 2021

Provisional Tax: avoiding pitfalls

If you are liable for provisional tax and you don't pay, or you underpay or pay late then you may be liable for both penalties and use of money interest (UOMI).Choosing to be a provisional tax payerYou may elect to become a provisional taxpayer. You will be eligible to do this if you have paid provisional tax of more than $5,000 and if you had the expectation on the date you made the first payment that you would be a provisional tax payer for that year.   If you pay provisional tax and...

June 25, 2021

SGCA Winter 2021 Newsletter (a good read)

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June 25, 2021

Checklists for year end

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June 22, 2021

2021 May Balance Date Checklist

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June 22, 2021

2021 March Balance Date Checklist

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June 22, 2021

2021 June Balance Date Checklist

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June 22, 2021

Covid 19

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February 15, 2021

Covid-19 Short-Term Absence Payment

On 8th February 2020 the government announced a new Covid-19 Short Term Absence Payment (STAP) to support employers and self-employed workers. Available from:  9th February 2020.   Where from:       Work and Income Value:                  A one-off payment of $350.00.   GST:                    Not required or payable on payment received. Criteria:&...

February 15, 2021

Small Business Cashflow Loans now available until 2023

Don't miss the newest information regarding the Small Business Cashflow Loan Scheme.The first cabinet decision of the new Labour Government, which was announced on 9 November, recognises that the effects of Covid-19 on NZ businesses are here to stay for a while longer. If you own a small business that managed to ride the storm caused by the original restrictions, but are beginning to find business is tough, this could be for you.Easing of restrictionsWhile this loan is still related to a lo...

January 26, 2021

Is your trust still relevant?

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October 5, 2020

Covid-19, Small business cashflow loan scheme (SBCS)

This is available to small to medium businesses with 50 or fewer full-time employees.  This includes sole-traders and self-employed businesses. The maximum amount you can borrow depend on the number of full-time and part-time employees you have.  If you are a business without employees, ie sole trader or self-employed, you can receive a loan of up to $11,800. Loan terms - $10,000 to be provided to eligible businesses - an additional $1,800 per full-time employee equivalent - interest f...

May 12, 2020

Celebrating 10 Years

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March 30, 2020 Posts 1-17 of 17 | Page
 

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