CCH - a Wolters Kluwer business
by Diren Fernando, Partner at HWL Ebsworth, Sydney and consultant to the Australian & New Zealand Insurance Reporter. Originally published by Wolters Kluwer in Australian Law Week, Issue 7, 18 Mar 2020 and amended for New Zealand in light of recent events. It hardly needs saying that the outbreak and spread of COVID-19 have had […]
Read MoreGST – converting Airbnb to long-term residential rental due to COVID-19 outbreak QUESTION: An individual owns a property which they use to provide short-term holiday accommodation via Airbnb in a tourist destination. The individual claimed GST on the purchase of the property in 2013. Due to government-imposed travel restrictions, the individual decided to rent the […]
Read MoreCOVID-19: essential workers to receive payment if unable to work The Ministers of Social Development and Workplace Relations and Safety have announced that essential workers who take leave to comply with public health guidance would be supported with a leave scheme to enable them to receive income without feeling pressured to go to work. This […]
Read MoreCOVID-19 wage subsidy: tax consequences The Government’s 12-week wage subsidy (available for both employees and the self-employed) is paid in one lump sum to the employer. The tax treatment for the employer is as follows: the lump sum is excluded income no GST applies to the lump sum receipt when the payment is passed on […]
Read MoreCOVID-19: measures to retain transport construction workers Advance payments are to be made to transport construction industry contractors to enable them to retain their workforce, Transport Minister Phil Twyford announced today. This would put the industry in a better position to quickly gear up post lockdown in carrying out construction projects vital to New Zealand’s […]
Read MoreWrap up: all you need to know about the Government’s COVID-19 wage subsidy scheme This commentary applies to wage subsidies made under scheme after 4pm on 27 March 2020. Wage subsidies are available for businesses significantly impacted by COVID-19. The subsidy is for 12 weeks. It is: $585.80 per week for a full-time employee (20 […]
Read MoreCOVID-19: Government announces modifications to wage subsidy scheme On Friday, 27 March 2020, Finance Minister Grant Robertson announced that modifications had been made to the wage subsidy scheme introduced by the Government to ensure people didn’t lose their jobs during the national lockdown. The modifications took effect at 4pm that day. They include: The obligation […]
Read MoreCOVID-19 Response Taxation Bill through all stages On 25 March 2020, the COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill (No 237-3) was introduced into Parliament under urgency and passed through all stages, and has received the Royal assent. The policy proposals in this omnibus Bill are all aimed at assisting the Government’s response […]
Read MoreCOVID-19 Update: wage subsidy cap removed and other measures announced The Government has removed the $150,000 per business cap on wage subsidies that can be paid to employers affected by COVID-19. The announcement made today (23 March 2020) increases the expected cost of the scheme from $5.1 billion to $9.3 billion. The wage subsidies scheme applies […]
Read More17 March 2019 Fiscal response to COVID-19 announced by Government Finance Minister Grant Robertson announced the coalition government’s package to cushion the economic impact of the COVID-19 virus this afternoon at 2pm. Calling the $12 billion package “the most significant peace-time economic plan in modern New Zealand history”, the finance minister noted the following key […]
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