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July 2024 Newsletter

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Welcome to our June newsletter.

bellaconsultants.cmail20.com

From a government that's says they are for the people. This legislation if it goes through will hurt middle NZ

Brian Fallow: Tradies beware - tax change could bite Suggested change to obscure tax rule could hit many small businesses.

This may be of interest to those in a default scheme

Explainer: The key December 1 KiwiSaver changes you need to know about Several things are changing.

A very quick update on the governments announcement this morning:
A 4th Resurgence support package will open up on 29 October
From 12 November resurgence support will be available on a fortnightly basis at double the current rates.
The same % decrease in revenue still applies
This fortnightly payment will be available until the new traffic light systems kicks in which is when each DHB reaches 90% double vaxxed.
Current wage subsidy system is still in place with the current % revenue decrease.
Regional Business support grants are available for business and mental health services
Targeted support will be available in the future for business's following the vaccine passport system under the new traffic light system.

This is all subject to change as we move through this pandemic and transition to more freedoms.

If you want to be able to operate your business the message is very strong - get vaccinated

The COVID-19 Protection Framework The COVID-19 Protection Framework sets out our plan to introduce more freedoms and opportunities for vaccinated New Zealanders.

4th Wage subsidy opened for applications this morning at 9.30am and the test period is 27 September 2021 through to 11 October 2021
The next resurgence payment will be open for applications from next Friday 8 October 2021

Quick update - resurgence support payments opening up for applications on 17 September.

For the property investors providing an essential service that the government cannot provide.

The key point here is you must wait two weeks from receiving the last wage subsidy before you apply for this one provided you still meet the criteria. If you have any doubts please call us first.

Applications for a second Wage Subsidy will soon open.

Businesses and self-employed people who have or predict at least a 40% decline in their revenue from 31 August to 13 September and meet all the eligibility criteria, will be able to apply.

Businesses that applied for the initial Wage Subsidy August 2021 payment and who meet all the eligibility criteria for Wage Subsidy #2, can apply for another wage subsidy payment two weeks after their previous application.

To ensure payments are processed as quickly as possible, it's very important the information provided in the application matches that held by Inland Revenue. If the information doesn't match, it may delay the processing of an application.

Outstanding applications will continue to be processed, even after the initial Wage Subsidy closes for new applications.

Find out more here: https://www.workandincome.govt.nz/about-work-and-income/news/2021/ws-applications.html

The attached contains information around the government support that is available as we work through this lockdown. In short the wage subsidy and the resurgence payments will be reinstated. Please ensure that you read the criteria that applies to both of these as they are different and you are making a declaration when you apply. If in any doubt please call us.

Financial support for businesses A summary of the financial support available to help you, your business and employees in times of difficulty, to recover from the effects of COVID-19.

Lockdown triggering support payments for businesses Finance Minister Grant Robertson says businesses that have a 40 percent drop in revenue will be eligible for the government's wage subsidy scheme.