Level 1 return to normality

We are proud to be a member of team 5 million.

NZ has done a great job at getting rid of COVID 19 but the cost has been high. At TIA we will be doing our best to support local business and rebuild our economy.

We can provide assistance in accessing Government support and bank refinancing by providing cashflow forecasts and assistance with Government applications.

Summary of Government Support Available

The wage subsidies and small business loans are no longer available but there is still assistance available in the form of the Business Finance Guarantee Scheme and Insolvency Relief.

Government tax assistance

The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill was passed on 27th March 2020, and enacted the following measures:
  • Reintroduction of depreciation on commercial buildings
  • Increase in the provisional tax threshold
  • Up-front deduction of low value assets threshold increase
  • Research & Development Tax Credit refundability
  • Use of Money Interest relief
  • Information sharing
  • In Work Tax Credit eligibility criteria
  • No GST or ACC on COVID-19 related payments (related to the wage & leave subsidies administered by MSD)