Working From Home Determination

The IRD has issued a determination (EE002) for employers who are paying employees working from home costs during the COVID-19 crisis. It provides that employers can pay employees who are working from home up to $20 per week tax-free for expenses (for example additional heating costs) without needing to estimate or demonstrate the employee’s actual

2020-05-20T09:50:18+12:00May 20th, 2020|COVID-19|

Rates Payment Extension

Auckland Council is offering ratepayers an extension on instalment four of their rates. Normally due on 28th May 2020, the deadline for this payment is now extended until 31st August 2020. The extension is additional to any existing payment plans and does not include any outstanding payments or penalties. Note that instalment one for the

2020-05-18T11:14:22+12:00May 18th, 2020|COVID-19|

COVID-19 Wage Subsidy Extension

15/05/2020 A wage subsidy extension will be available for employers who continue to be significantly impacted by the COVID-19 crisis. It is an additional lifeline to allow employers to keep paying their employees for an additional 8 weeks when the original 12-week wage subsidy ends. The wage subsidy extension can only be applied for when

2020-05-18T10:58:41+12:00May 18th, 2020|COVID-19|

COVID-19 Implications On GST

COVID-19 is having a serious impact on New Zealand businesses in many ways. These include potential GST implications if supplies have been cancelled or there is a change in the use of an asset. GST On Cancelled Supplies If GST is returned on a supply that is subsequently cancelled, a GST adjustment will be required

2020-05-14T09:49:32+12:00May 14th, 2020|COVID-19, Tax|

Verifying Identity During COVID-19 Restrictions

Although the number of people who are seeking new business relationships during the COVID-19 crisis is significantly less than in previous ‘normal’ times, there are still new business relationships and/or new activities commencing. In current circumstances, a person’s identity cannot be verified face-to-face due to the COVID-19 restrictions. However, if you are establishing a new

2020-05-12T15:53:47+12:00May 12th, 2020|Assurance, COVID-19|

The COVID-19 Small Business Cashflow Scheme

Small- to medium-sized businesses may now be eligible for a one-off interest-free loan if they have been adversely affected by COVID-19. This includes sole traders, self-employed and any business with up to 50 employees. The Small Business Cashflow Scheme (SBCS) will provide $10,000 to each eligible business, and this amount could be extended up to

2020-05-04T14:47:28+12:00May 4th, 2020|COVID-19|

UHY Haines Norton: Alert Level 3

At Alert Level 3 UHY Haines Norton will continue to work remotely, however we can now receive contactless courier deliveries. Our physical offices will remain closed to clients and the public, but our virtual office is open. Our full range of accounting, tax, audit and business advisory services continue to be delivered. We have full

2020-04-28T10:02:44+12:00April 28th, 2020|COVID-19|

Tax Loss Carry Backs

There are proposed new temporary rules for tax loss carry backs under the COVID-19 crisis. If you believe that your business is forecast to make a loss in the 2019/20 financial year, we can assist you in making application to carry that estimated tax loss back to the 2018/19 financial year to lower that tax

2020-04-23T11:34:47+12:00April 23rd, 2020|COVID-19|

FBT On Motor Vehicles During Lock Down

During the Alert 4 lock down phase the entire country, with the exception of those working in essential services, has been advised to only use their vehicles when absolutely necessary such as to obtain food or medical supplies. These restrictions naturally also apply to vehicles that employers have made available to employees. Normally fringe benefit

2020-04-20T12:49:08+12:00April 20th, 2020|COVID-19|