COVID-19

Budget 2020: Rebuilding Together

May 15, 2020
Nexia NZ's Tax Director, Maggie Jaques, outlines and explains the Rebuilding Together Budget released on 14 May 2020.

Latest update from Inland Revenue

May 11, 2020
Inland Revenue provides further guidance on Small Business Cashflow (loan) Scheme, as well as phone delays and changes to Use of Money Interest rates.

Nexia NZ: Supporting our clients through COVID-19

May 5, 2020
The team at Nexia NZ are working hard to support our clients through COVID-19. The nature and depth of the COVID-19 crisis is unprecedented in our lifetime, and the Government response to support business has equally been wide ranging. We have outlined below some of the ways we are working with our clients to ensure the viability of their businesses.

Government boosts cashflow support for small businesses

May 4, 2020
The NZ Government continues to roll out initiatives to support business through COVID-19. In addition to the tax changes, wage subsidy and consultancy support already available, last week the Government announced their Small Business Cashflow (loan) Scheme. This significant initiative will aid small to medium sized businesses who require a much needed cashflow injection.

COVID-19: Employer Guidance

April 23, 2020
The Government has announced various relief measures in recent weeks to assist businesses affected by the impact of the Covid-19 virus. The uncertain nature of the current situation has resulted in business conditions that are constantly and rapidly changing.

Further Government support measures announced

April 16, 2020
On 15 April, the New Zealand Government announced further business support measures, largely aimed at SME’s. Read our summary of the proposed changes.

Worried about your creditors?

April 14, 2020
Finance Minister, Grant Robertson has made a plea to businesses “to continue to pay their bills to one another. It is very important that businesses that are in a position to do so, continue to pay other businesses, particularly larger business paying smaller businesses. This ensures money continues to flow around the economy and ensure that businesses can remain solvent”. If you are struggling to prioritise your debts, our advice is to have a strategy in place. Make sure it’s clear how you will manage your debtors, you need to decide what is most important to your business in this unprecedented and difficult time.

Insolvency relief for business impacted by COVID-19

April 9, 2020
On 3 April 2020, Finance Minister Grant Roberston, and Consumer Affairs Minister Kris Faafoi, announced changes to legislation that will support businesses through the COVID-19 pandemic. For some businesses, the impact of COVID-19 will still lead to liquidation. However, with these changes, it is hoped that others may be able to weather the storm and still be able to continue to trade on the other side.

Be vigilant, COVID-19 scams are on the rise

April 6, 2020
Scammers aren’t known for their community spirit and COVID-19 is proving no exception to this. With large numbers of employees working remotely for an extended period, the cybersecurity risks increase. It is even more important now that you ensure you keep good practices in mind, to keep yourself and your business safe. Nexia New Zealand have summarised below some of the more unusual scams that have shown up due to scammers taking advantage of the COVID-19 outbreak, as well as some more common scams that are being adapted to take advantage of our dramatically changing work environment.

COVID-19 - Alert Level 4 is Imminent - Business Relief Package Extended

March 24, 2020
With New Zealand’s confirmed COVID-19 cases jumping to 102, the Government announced yesterday that the country will move to Alert Level 4, or lockdown in 48 hours for a period of 4 weeks.  With all non-essential businesses now required to close or work remotely in an effort to stop the spread of COVID-19, the impact on business and the economy will be significant.