Covid Subsidies 2021
With the surprise lockdown announcements by the government on 17th August 2021, it has thrown a spanner in the works. Luckily, they have also announced the reinstatement of the financial supports packages that we saw under the previous lockdown. These are available to be applied via the Work and Income website for everyone that is eligible.
Deductibility of Healthy Homes costs
If you are an owner of a residential property, you will be familiar with the Healthy Homes Standards that were introduced on 1 July 2019.
Is the grass greener over the ditch?
Australia has recently released its 2020-21 Federal Budget where they plan to combat the effect of Covid-19 by investing in infrastructure, job creation, asset write offs and personal tax cuts. Meanwhile in New Zealand, Labour continues their plan to keep New Zealand moving by investing in people, jobs, small businesses, infrastructure and global trade.
What is revenue?
This core definition has been applied by thousands of businesses to apply for the Government’s wage subsidy scheme that was implemented due to the COVID-19 pandemic. Whether a 30 percent or more reduction in revenue for the original wage subsidy, or a 40 percent or more reduction for the wage subsidy extension, quantifying the reduction in ‘revenue’ was a key hurdle to be eligible.
Goodbye to cheques
Improved applications for safer online payments from your smartphone or tablet has meant that processing cheque payments has become a rather laborious task. Therefore banks and big entities have decided to stop using and accepting cheques.
Small business cashflow loan scheme
The re-elected Government has announced on 9 November a 3-year extension to the Small Business Cashflow Loan. This gives small businesses a better window to both borrow, and repay the loan, and increases the interest free period.