Financially Adapting to Challenges of Covid-19
There is a lot of noise out there at the moment about the financial impact that Covid-19 may have on businesses. While nobody has a crystal ball, the economic impact is already being felt. Consensus appears to be this will continue for the short to medium term.

To assist in navigating your way through this uncertainty, we recommend that you give consideration to the following:
Tax strategies/IRD arrangements.
Proactively organising an arrangement with IRD. This can be achieved through direct negotiation or via Tax Finance through Tax Management New Zealand (TMNZ). Additionally, IRD are now issuing refunds for those that believe their provisional tax has been overpaid due to revised predicted profit levels for the current financial year.

Working capital (cashflow) funding should things slow down.
You might want to consider arranging an overdraft or some other funding in the short to medium term.

Understanding and accessing government provided financial relief for the impacted.
The government have announced they will be looking to provide assistance. Further announcement pending 17th March: https://www.govt.nz/covid-19-novel-coronavirus

Planning for remote staff operations.
If you haven’t already, you may want to look at getting set up to run offsite.

As further government announcements are made, we will update you.
Please don’t hesitate to get in touch if you have any queries or requests re above:

Ngā mihi | Sincerely
Cleaver Partners