COVID-19 business update
On Tuesday 17th March 2020 the Government released The Economic Response Package and information relating to COVID-19 (novel coronavirus) and how this may affect businesses.
The $12.1 billion dollar response package has been released to help businesses and those affected the by impact of COVID-19 to support the economy. This includes:
- Initial $500 million boost for health.
- $5.1 billion in wage subsidies for affected businesses in all sectors and regions.
- $126 million in COVID-19 leave and self-isolation support.
- 2.8 billion income support package for the most vulnerable, including a permanent $25/week benefit increase and doubling of the Winter Energy Payment for 2020.
- $100 million redeployment package.
- 2.8 billion in business tax changes to free up cash flow, including a provisional tax threshold lift, the reinstatement of building depreciation and writing off interest on the late payment of tax.
- $600 million initial aviation support package.
Here are some helpful links to government services for those effected:
NZ Government - Unite against COVID-19
Ministry of Health - Current situation
WINZ - Employer support & redundancy support
IRD - Tax relief & income assistance
Employment NZ - Guidance for employers & employees
MBIE - COVID-19 business update
Xero Assistance Programme - Counselling for all starter, standard & premium subscribers
Whilst we all come to understand what this outbreaks mean for us, TvA will be taking measures to protect our clients and staff by limiting face to face contact during this time, if you are in need of assistance, we are here to help & support our clients through this time - PLEASE GIVE US A CALL on Ph: 03 578 3386 or email us at: firstname.lastname@example.org