The Government has announced a suite of new measures and plans to provide relief for SMEs affected by COVID-19 coronavirus. Initiatives include flexibility around tax deadlines and support in the areas of tax loss, commercial leases and consultancy.
Government has indicated that it aims to boost business confidence and help small business owners throughout New Zealand. This additional support is in response to small businesses that are struggling to meet their non-labour related fixed costs, but are not in a position to take on additional debt.
Additional Government Support Available to Whitianga Business Owners
- Greater flexibility for taxpayers in respect of statutory tax deadlines
- Changes to the tax loss continuity rules
- A tax loss carry-back scheme
- Measures to support commercial tenants and landlords
- Further business consultancy support.
Further business consultancy support
Government has already introduced a wide range of measures to assist businesses including the wage subsidy scheme, the Business Finance Guarantee scheme, and various business tax changes.
The Ministry of Business, Innovation and Employment provides detailed information about each of these measures.