Kia Ora, Tena Katoa, Hello to All.
In the ongoing level three COVID-19 lockdowns, Cleaver Partners are pleased to advise we are fully operational and will provide continued access to our financial management and accounting services for all clients and associates at this time. We are committed to helping business and together we can navigate through this.
Our contact details remain as:
Cleaver Partners reception: (09) 376 2445
Contact your Cleaver Partners adviser, by email / DDI, via our website: Contact the team
Email: info@cleaver.co.nz
Face to face meetings can be arranged via the usual apps at your request.
What relief is available to business owners and self-employed operators:
- Wage subsidy for employers and self-employed
Finance Minister Grant Robertson has announced on Monday this week a two-week extension to the wage subsidy scheme. This will require businesses to show a 40% reduction in income for the period of at least 14 days between 12 August and 14 September 2020 compared to the same period in 2019. Part of the conditions stated must be able to show this reduction is due to the economic effect of COVID-19. This subsidy may be extended if required. To check your eligibility visit www.workandincome.govt.nz/covid-19/
The balance of the relief available to business remains much the same as before, but as a refresher, we remind you of the following:
- Provisional and other Tax. Now is the time to re-estimate your Provisional Tax for the 31/3/2020 year and get any extra you paid – refunded. Reach out to us directly if you want help with this: IRD information link here.
- Tax Finance – we are able to “finance your income tax bill” through Tax Management New Zealand. This allows you to pay your provisional tax off over a longer time period at very attractive interest rates: More info at Tax Management New Zealand or contact us.
- IRD is proposing to write off UOMI (use of money interest on late payments), now is the time to negotiate an arrangement: IRD information link here.
- Kiwisaver has been opened up, people can now apply to access their Kiwisaver due to economic hardship: Contact your Cleaver Partners Adviser for details.
- Mortgages and other loans. Banks are giving loan holidays to those who need them: Contact your Cleaver Partners Adviser for more information.
- Commercial Tenancies. Most commercial tenancies have a fair use clause in the agreement. Therefore if you’re unable to use part or all of the premises you are renting, you may be able to negotiate a payment that is reasonable on the availability for use.
- Residential tenants (and landlords) are also able to negotiate relief and better commercial outcomes. Check the latest Govt Tenancy Services information here or contact your Cleaver Partners Adviser.
- Accountancy fees. We have finance packages available to assist with paying your bill via SmartAR. Contact lesley@cleaver.co.nz for more information on this.
Please reach out to our team for assistance with any of the above.
| Let’s continue to see this as an opportunity to work more closely together, a time to review and overhaul the way we do businesses. As we weather this new storm, we look to come out as stronger more thoughtful entrepreneurs, businesses and people, and well equipped to take advantage of the many opportunities that will no doubt arise on the other side of our collective challenges.
Please take care to look after yourself, your family, and those in your close communities.
Nāku iti nei, nā | Yours humbly,
The Cleaver Partners Team |
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