COVID-19 - Alert Level 4 is Imminent - Business Relief Package Extended
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. We provided details of the Government’s initial economic stimulus package last week here https://www.nexia.co.nz/blog/nz-governments-economic-recovery-response-covid19/. Finance Minister Grant Robertson has today announced an extension of this package by an expected additional $4 billion in an effort to provide significant further support for the economy, workers and businesses as the country moves into lockdown. The extended measures include:
In addition, while details are yet to be ironed out, the Government has announced that:
We have also confirmed with Inland Revenue that the wage subsidies and leave payments received under these measures will be:
We understand that many, if not all businesses will be affected by these unprecedented and challenging times. We encourage you to get in contact with us to discuss the options available for your business - we are committed to working with you and assisting in any way we can. |