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The 2020 Budget - Our Communities

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It's a Wellbeing Budget: investment in health is critical. The brief is to keep everything going as well as being prepared for further response to the pandemic, with a total investment of $5.6b in services and $755m in capital investment, including:  Read more…

The Jobs Budget 2020

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The focus is on sustaining existing jobs, job creation, job training and retraining. To support this, Budget 2020 allocates funds to infrastructure investment, business support, housing development and construction, an environmental jobs package, and a trades and apprentices package.  Read more…

Budget Special Alert 2020

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It's hard to imagine a Budget being delivered into a more singular situation. The 2020 Wellbeing Budget's one job is to help New Zealand recover from the impact of the pandemic. The lockdown to safeguard us from a public health crisis has been phase 1. The Budget takes us into phase 2: economic recovery while staying clear of a second wave of COVID-19. We don't know at this stage how many more phases there will be.  Read more…

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The government has announced an extension of a further 8 weeks to the 12 week Covid-19 wage subsidy already in place. 

Applications can't be made until 10th of June.
  • It is available if you are down or expect to be down 50% in revenue for the 30 days (or nearest period) prior to 10/6/20, compared with last year.
  • We would expect the period of May this year would be a suitable substitute if you were not a cash-based business. 
  • First step will be to look at your sales records for May 2019, or the period May 11 to June 9 so you have benchmark.

We'll be sending out further information as the details become clearer.  

14 May 2020 - Information on the Work and Income website's "COVID-19 Wage Subsidy Extension" page states:
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.
Visit the Work and Income website for more information.

Disclaimer: The information in this article is of a general nature only, and is not intended to address specific circumstances of any particular individual or entity. Specific advice should be sought from qualified professionals prior to relying on any information received from this article.  

Trading while insolvent

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One of the worries with carrying on trading is that under current legislation, company directors become personally responsible for debts incurred if the company continues to trade while insolvent. 
Read more…

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The COVID-19 lockdown has got us thinking about ways we can provide extra support at this time for our clients.
There is support available for businesses through the COVID-19 Business Advisory Fund and we offer these two services that are registered with the COVID-19 Business Advisory Fund:

• Cash Flow & Finance
• Business Continuity

Businesses may be eligible to receive funding for a registered service as part of the COVID-19 Business Advisory Fund. Find out more by visiting www.regionalbusinesspartners.co.nz

Disclaimer: The information in this article is of a general nature only, and is not intended to address specific circumstances of any particular individual or entity. Specific advice should be sought from qualified professionals prior to relying on any information received from this article. 

10 minute webinar by Graham Scott

We are about 1½ weeks into the Coronavirus lockdown, and many business people are facing some pretty hard business decisions over the next few weeks. From talking with our clients, we know the question on some business owners' minds is "Should I close my business?"
Read more…

Wage Subsidy - Update and How to Process in Your Payroll

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Covid-19 Update - 30 March 2020
Wage Subsidy Payment Received from Government

Since the COVID-19 lockdown was announced the wage subsidy has been modified to help businesses that need to shut down under Alert Level 4 and to pay workers for an extended period of time.  We are getting a clearer picture day by day as to how the subsidy is to work, who qualifies for it and how it is to be paid.  Read more…

Important Wage Subsidy Update 24 March 2020

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On 23 March 2020 Cabinet made some changes to the wages subsidy:  Read more…

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Quentin Glover from Profinance NZ Limited, has provided this list for business owners of 8 Immediate Financial Steps.
Read more…

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Office 23 Empire Street, Cambridge 3434
Postal PO Box 680, Cambridge 3450
DX Number DX-GX33347

Phone (07) 823 4900
Fax (07) 823 5900
Email info@gwscott.co.nz

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