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

A wage subsidy was provided for small business and employers this comes to an end on 9 June 2020.

For those businesses still experiencing a decline of 40% or more the subsidy can be extended until 1 September 2020.

There is also the small business cashflow loan available until 24 July 2020.

Conditions apply for all of the above mentioned support but we can provide guidance to ensure you get the correct assistance.

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)